Elon Musk says Twitter takeover is a step towards ‘X, The Everything App’

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posted on EVANNEX October 17, 2022, by Peter McGuthrie

Elon Musk has been back and forth on a $44 billion plan to buy Twitter since April, although it looks like he’s now planning to buy the social media company after all. What that means for Twitter and Musk’s “Super App” plans isn’t yet clear, but according to his own predictions, the acquisition could accelerate the path to the combined platform.

Above: Elon Musk. Photo: NASA Kennedy/Flickr

Musk said he was looking to create the ‘X’, ‘any app’ with his recently relaunched purchase of Twitter, as reported by barrons. The “super app”, as Musk has called it in the past, could still take years to complete, but it must be a pretty big investment for him because he’s taking time to get the deal done while running Tesla. and SpaceX.

In the past, Musk has compared the idea of ​​this kind of global app to WeChat in China, suggesting alongside many players in the tech industry that it could be the next big thing on the US investment front. Specifically, the app should combine elements of payment systems, social media, messaging, and maybe even more.

“The purchase of Twitter is an accelerator for the creation of X, the universal app,” Musk said on Twitter.

The news comes after Musk’s deposition for an upcoming lawsuit with Twitter was delayed, due to his choice to buy the social media company at the originally agreed price of $54.20 per share. The lawsuit, which was due to begin this month, was scheduled after Twitter sued Musk to force him to buy the company after he expressed his intention to walk away. In response to the lawsuit, Musk countersued the social media platform, which was to take the case to court.

Now, Musk has until October 28 to formally close the acquisition deal with Twitter, or both parties will have to go to trial again. Musk previously cited whistleblower concerns and a lack of transparency about spam account data from Twitter.

However, it now seems hyper-focused on delivering America’s first “App X” using the platform. After another user followed up and expressed that he thought building X from the ground up would be easier than buying Twitter, Musk doubled down on his thinking, again adding that the acquisition would help speed the path to it. ‘application.

“Twitter probably speeds up X by 3-5, but I could be wrong.”

Source: barrons


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