Submitted by MidoriTea t3_yrlsx8 in technology
Comments
HanaBothWays t1_ivukr6b wrote
Ooooh how long until Twitter’s implicated in some kind of ransomware payment scandal?
unresolved_m t1_ivukxaw wrote
But he will make cryptobros happy. That seems to be most important to him.
nobodysshadow t1_ivul3va wrote
He didn’t “get rich” from PayPal. He may have got “more rich”, but it’s not like PayPal is what made him. He was born into being rich from the start.
Edit: maybe don’t listen to me. I thought I knew what I was talking about, but with more research, now I have no idea. There’s different stories saying different things. I also realized in my search that I really don’t care to know. I’m tired of hearing about musk and shouldn’t of even replied. Have a good day all of you
Zeplar t1_ivumbd5 wrote
Didn't he? I know about his family, but afaik it's well documented that he didn't really have any money throughout college.
voidsrus t1_ivunaan wrote
>He did get rich with PayPal after his x.com was acquired by them. So financial transactions are in his DNA
i bet paypal still has legal/compliance/security staff though.... nobody's going to trust their payment info with him, even for crypto stuff, once the breaches start
hayden_evans t1_ivuo61h wrote
🤣 Is Elon aware of things like Cash App that already exist and have been doing this shit for years with very little fanfare? Idiot is just riding Jack Dorsey’s coattails at this point. Typical Elon Musk play - buy a struggling company, claim to be some sort of “founder of it”
nobodysshadow t1_ivuomrf wrote
Ok, so while fact checking myself, I’m getting all kinds of different answers. I don’t know anymore. My bad for speaking like I actually know the guy.
Badtrainwreck t1_ivupu9g wrote
Let me ask the security team. There isn’t a security team? Umm, here at Twitter we take security very seriously
thesweeterpeter t1_ivusbu4 wrote
Absolutely 100% I'm not saying he ran the company just that it's not a space he's wholly inexperienced in
bitfriend6 t1_ivusv6m wrote
He can pull it off if he makes the first FDIC-insured crypto bank in the US, and do RFID phone payments. How this is useful is anyone's guess but he can integrate it with a Tesla taxi service and give people more upvotes if they spend more Musk Bucks. It wouldn't be a scam in such a case, just another low rent online-only bank competing with WePay and WU. There is probably a market for this especially if he gets big ticket names like the former President on board. There's enough idiots out there who can beilive FDIC-backed crypto is somehow better than FDIC-backed USDs.
thesweeterpeter t1_ivut0ke wrote
He made 175m from paypal. It was a pretty important step.
Yes he was privileged but his family wasn't stupid rich.
He's an asshole but to say he hasn't made some good/smart calls is also fairly ignorant.
thesweeterpeter t1_ivutm19 wrote
I can't see the FDIC insuring crypto. It's way too volatile.
But I'm not by any means an expert and I've been wrong about crypto a thousand times before.
Kill3rT0fu t1_ivuvgom wrote
Now Elon can pump and dump Bitcoin without the middleman fees
[deleted] t1_ivuz2tz wrote
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Vickrin t1_ivuz5y3 wrote
> Tesla taxi service
The magical taxi service he promised years ago which is further away than ever?
[deleted] t1_ivv35a1 wrote
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karma3000 t1_ivv6kn1 wrote
So Jack Dorsey owns Square/Block/Cash App and still has a sizeable shareholding in Twitter. It would not surprise me if the two merge. And I further would not be surprised to find out that Elon and Jack have discussed this already.
hayden_evans t1_ivv8jkz wrote
So his ultimate plan was to buy Twitter and then sell it back to Jack Dorsey at Block? That makes absolutely no sense. I doubt Jack would even buy it back - he’s smarter than that 🤣
hayden_evans t1_ivvcaeh wrote
So why is he reinventing the wheel? Both PayPal and Venmo (also owned by PayPal) do crypto payments. What’s he expecting that’s different from the 100’s of apps that already do this?
Best_Parfait6508 t1_ivvdx3j wrote
It seems like Jack was happy to be rid of Twitter, and the problems of making it profitable.
So I agree that he wouldn’t want it back, but if he and Musk had discussed such a deal, there would be more to it.
Or just their combined hubris would be enough to make it possible
Exotic_Treacle7438 t1_ivvsw8l wrote
Quick, someone rehire the security team to answer this question, but make sure they do it in office and not WFH. -Elon
urqlite t1_ivvxrpl wrote
Come join Mastodon
pleasestoptalking t1_ivw2cat wrote
He wants to copy that Chinese app WeChat to try and make every aspect of people's lives run through twitter.
> Chinese super app WeChat has more than 1 billion monthly users, according to one estimate, and is a ubiquitous part of daily life in China. Users can hail a car or taxi, send money to friends and family or make payments at stores. In 2018, some Chinese cities began testing WeChat for an electronic identification system that would be tied to users' accounts, according to the South China Morning Post.
hayden_evans t1_ivw7h5d wrote
He’s making a very fundamental cultural and political miscalculation if he thinks the US will adopt a single app like WeChat 🤣
[deleted] t1_ivwawf1 wrote
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Lineaft3rline t1_ivwfkwe wrote
How about no social media at all and just talk to people in real life.
Lineaft3rline t1_ivwft4r wrote
We almost did through Facebook/meta. Almost.
[deleted] t1_ivwgd1d wrote
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anunfriendlytoaster t1_ivwgje1 wrote
Yeah, that’s the plan for this week.
Good timing too. Crypto is dying. Literally.
anunfriendlytoaster t1_ivwgpha wrote
This company was already destroyed… it was just a zombie company surviving off cheap debt.
thesmash t1_ivwmyzh wrote
I believe Jack would’ve been paid out in the Elon buyout
strawberrykid_sg t1_ivwzkyy wrote
literally so confused rn
No_Telephone9938 t1_ivx5gwm wrote
At this point i'm legitimately convinced Elon bought twitter just so he can kill it
thesmash t1_ivx655a wrote
I stand corrected! Thanks for the link
urqlite t1_ivxe0bt wrote
Then why are you on Reddit?
UVSoaked t1_ivxouav wrote
Karma. If you know another way to obtain it, I'd love to hear it.
urqlite t1_ivxyokz wrote
This contradicts what you say. Karma is equivalent to social media’s clout
Lineaft3rline t1_ivy1sek wrote
I guess because I don't mind psuedoanon social media.
SgtBaxter t1_ivy9zz0 wrote
No, he was forced into buying it and didn't actually want it.
So now he's killing it to make it into a tax write-off.
optermationahesh t1_iw0lekq wrote
You mean like how a lot of people use Twitter?
Lineaft3rline t1_iw103yp wrote
I'd argue that most people don't use twitter that way. At least not most people I bother following or end up reading their tweets.
thesweeterpeter t1_ivukc8f wrote
The only thing in his defense (and I promise I'll probably never do it again)
He did get rich with PayPal after his x.com was acquired by them. So financial transactions are in his DNA
But it's crypto and that's a disaster waiting to happen. And it's a stupid pivot by any stretch.
He's going to destroy this company. What a stupid pet project