Elon Musk, SpaceX CEO and Tesla CEO, hinted at the possibility of “X,” the all-purpose app. His purchase of Twitter, the social media platform, is an accelerator to the creation and growth of X. This could reduce the time it takes to complete the project by three to five years.
Elon Musk, Tesla CEO, hinted at the creation of “X,” the all-purpose app. Musk responded to a question about why he was buying Twitter on Wednesday:
Twitter can be used to accelerate the fulfillment of the original X.com vision.
Buying Twitter is an accelerant to creating X, the everything app— Elon Musk (@elonmusk) October 4, 2022
In a similar tweet from him Tuesday, he stated that purchasing Twitter is “an accelerant for creating X.” He also said that Twitter could speed up X by three to five years.
Musk had previously mentioned X before. When asked if he thought of creating his own social media platform if the Twitter deal fails, Musk replied with X.com.
On Twitter, some people noted that Tesla CEO Elon Musk is obsessed with the letter X. X.com was Musk’s online bank. In 2000, it merged with Confinity Inc. and changed its name from Paypal. In 2015, Musk purchased the domain name X.com back from Paypal. Musk also purchased the domain name X.com from Paypal in 2015.
Although Musk has not revealed any details about X, he shared with Twitter employees his vision for what he wanted Twitter to be in June. Musk made a comparison between Wechat, a Chinese app that combines social media with games and payments, as well as ride-hailing, and SpaceX. Musk stated:
There is no Wechat equivalent. You can basically live on Wechat China. It would be great to replicate that with Twitter.
He complimented Tiktok for his algorithm’s ability to not be boring and suggested that Twitter could be improved on “informing people about serious issues.”
After months of trying to block the deal to purchase Twitter, Musk has decided that he will follow through with his original offer of $44Billion. His legal team informed Twitter Monday that Musk intends to close the deal to purchase Twitter. However, there are some conditions. Twitter issued the following statement:
We have received the Musk parties’ letter, which they have submitted to the SEC. The company intends to close the transaction at $54.20 a share.