Tesla and Spacex CEO Elon Musk has hinted that “X, the everything app,” is coming. He explained that his purchase of the social media platform Twitter is an accelerant to the creation of X, which could knock three to five years off the project.
Elon Musk’s X — The Everything App
Tesla CEO Elon Musk has hinted about the creation of “X, the everything app.” Responding to a tweet about why he is buying Twitter, Musk wrote Wednesday:
Twitter is an accelerant to fulfilling the original X.com vision.
He similarly tweeted Tuesday that buying Twitter is “an accelerant to creating X.” In a follow-up tweet, he said that Twitter could accelerate X by three to five years.
This was not the first time Musk mentioned X. In August, when asked whether he had thought about creating his own social medial platform if the Twitter deal does not come through, the Tesla boss replied: “X.com.”
Some people pointed out on Twitter that the Tesla CEO is obsessed with the letter X. Firstly, X.com was an online bank that Musk co-founded. It merged with competitor Confinity Inc. in 2000 and changed its name to Paypal. Musk repurchased the domain name X.com from Paypal in 2015. The Tesla CEO has also set up a few entities with “X Holdings” in their names, including “X Holdings I” and “X Holdings II” that he used in his bid to buy Twitter.
While Musk has not disclosed any details of X, he shared his vision of what he wants Twitter to become with Twitter employees in June. The Spacex chief drew a comparison to Wechat, the Chinese app that mixes social media with payments, games, and even ride-hailing. Musk said:
There’s no Wechat equivalent outside of China … You basically live on Wechat in China. If we can recreate that with Twitter, we’ll be a great success.
He also complimented Tiktok’s algorithm for not being boring, suggesting that Twitter could be honed “in the same way to be interesting.” He further noted: “I think Twitter can be much better about informing people of serious issues.”
After months of trying to back out of the deal to buy Twitter over the number of fake accounts and spam bots, Musk has decided to follow through with the original offer of $44 billion. His legal team told Twitter Monday that the billionaire intends to close the deal to buy Twitter subject to certain conditions. Twitter subsequently issued a statement:
We received the letter from the Musk parties which they have filed with the SEC. The intention of the company is to close the transaction at $54.20 per share.
What do you think about Elon Musk creating X, the everything app? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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