a year to roll out a payments processing mechanism that will enable people to do away with their bank accounts.Audio of the meeting, which was held to mark the one-year anniversary of Musk’s acquisition of the company, was obtained by“If it involves money, it’ll be on our platform,” Musk said, adding: “I’m talking about, like, you won’t need a bank account.”
Some employees embraced the boss’ “hard core” vision and slept on the office floor after working grueling hours during the chaotic days and weeks after the acquisition — during which Musk laid off most staffers and instituted sweeping changes to the site’s content moderation policies.After rebranding Twitter as X, Musk signaled he would turn the platform into a super-app, offering a range of services from messaging and social networking to peer-to-peer payments.
The latest functionality comes amid a series of new features and changes to the platform’s core experience under Musk, who acquired the social media company nearly a year ago.Musk acquired the site formerly known as Twitter one year ago on Oct. 26. He is seen above at Twitter headquarters in San Francisco shortly after the acquisition.
“We’re still negative cash flow,” he posted on the site on July 14, due to a about a “50% drop in advertising revenue plus heavy debt load.”Musk acquired Twitter and later rebranded it as X. He said he wants to turn it into an “everything app.”“Need to reach positive cash flow before we have the luxury of anything else,” he said.
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