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Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’ (www.theverge.com)

submitted 1 year ago by [email protected] to c/[email protected]

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“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

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[–] [email protected] 2 points 1 year ago (1 children)

FWIW his white whale or inspiration is more like the Chinese “we do everything” apps / platforms https://wise.com/us/blog/chinese-payment-app

[–] [email protected] 1 points 1 year ago

Without getting official government institutions on board or making the app mandatory in some way, I don't see how this would work outside of authoritarian countries

They're bleeding users and advertisers as it is