Remember when Elon Musk said he wanted X to be more PayPal-like? New docs show this plan is still on.
  • shinratdr@lemmy.caEnglish
    18·
    6 months ago

    This is so funny to me. Destroying Twitter aside, why does he think a payments app is something anyone wants?

    Americans have Facebook Pay, Apple Pay, PayPal, Venmo, CashApp, Zelle and probably a dozen others that I don’t know about.

    Canada has Interac e-transfer to any from any bank account for free, so these payment apps don’t even try to expand here. China has WeChat, Japan has Suica and a couple others, I just don’t get it.

    This is a solved problem in basically every country. Giving Americans one more payment app they won’t use tied to a dying service that even at its peak very few used doesn’t seem like it will have any impact at all.

    • heavy@sh.itjust.worksEnglish
      3·
      6 months ago

      I honestly believe he thinks re-creating PayPal will lead to success like it has for him in the past. I don’t understand why he believes that, or why anyone would use (yet) another online payment platform when PayPal and several others are available.

      Online “high yield savings” tend to be scam companies looking to get access to liquid capital.

      • evidences@lemmy.worldEnglish
        3·
        6 months ago

        Ehhh there’s a bunch of online high yield saving companies from real banks out there. Places like Marcus which is Goldman Sachs, Ally which is what GMAC rebranded as after they helped crash the world economy in 08, and Capital one all offer high yield savings over 4.5% interest.

  • Lvxferre@mander.xyzEnglish
    7·
    6 months ago

    Every time that I see news about Xitter, I immediately think “Elon Muppet must have a 4D chess plan, that’s why he’s sinking that xithole, it’s to further his other goals”. But then I remember Hanlon’s Razor: if both idiocy and malice can explain the same phenomenon, idiocy is more likely.

    So… yeah, he ruined a public service. That bloody Mark Zuckenberg would be smiling from ear to ear at that, if he was a human instead of an android.