Elon Musk wants Twitter to be a WeChat-style ‘super app’ with payments

Tesla CEO Elon Musk hasn’t ruled out that if he goes ahead with his acquisition of Twitter, the social media platform could become a sort of super app similar to China’s WeChat that would also support payments.

Musk spoke at a panel hosted by Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg for their “All-In” podcast.

“A of the interesting things this has come at the top in your product roadmap has been the possibility of Twitter become kindly of a Great application with Payments included, maybe same dogecoin,” said All-In podcast host and panelist Jason Calacanis.

Musk agreed that WeChat is “actually a good model” to follow and needs to be available beyond China as well.

“If you’re in China, you kind of live on WeChat, it does everything. It’s kind of like Twitter, plus PayPal, plus a whole bunch of other stuff. And all in one […] great interface. It really is a great app. Musk said.

Tesla boss says ‘we don’t have anything like it outside of China’, and having such an app ‘would be really helpful’ as it would also give content creators a source of income, allowing them to post videos , while users will be able to leave spam-free comments.

Payments, whether cryptocurrency or fiat, can make “a lot of sense” from that perspective, Musk said.

Such a great app doesn’t have to be built on Twitter, he pointed out, because it could also be “something created from scratch.”

“It might be something new, but I think this thing needs to exist,” the billionaire said, adding that it should be a “maximum trust and inclusive” platform where people can perform various digital tasks and where important ideas are discussed.

According to Musk, “We just want something that’s incredibly useful and that people like to use. It has to happen one way or another.

Musk’s Twitter shopping saga

The Tesla chief formally revealed his interest in buying Twitter in an SEC filing in April, saying he wanted to take the company private. Musk’s other plans include creating open-source Twitter code, introducing an edit button for tweets, and cracking down on crypto scams and spambots.

Musk, also shared the idea of ​​adding Dogecoin (DOGE), the same cryptocurrency he has repeatedly promoted, as a means of payment for users of Twitter’s premium subscription service.

On April 25, Twitter’s board accepted the billionaire’s $44 billion takeover bid to buy the social media company, complete with crypto exchange Binance and several other prominent investors pledging financial support for the acquisition.

Last week, the deal, however, was thrown into jeopardy after Musk said he was putting things “on hold” until he could verify that, as reported on May 2 from Reuters claimed, less than 5% of Twitter users were “spam/fake accounts”.

Musk reiterated his stance on Tuesday, saying the deal could “not move forward” until Twitter provides more information about the number of fake accounts that exist on the platform.

He also suggested that in reality up to 20% of the platform could be fake or spam accounts, and did not rule out the possibility of renegotiating the deal which would require him to pay a lower price. .

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