- Elon Musk’s plan to make Twitter a super-app appears to be in motion.
- The billionaire talked about plans for longer videos, and a payment method on Wednesday.
- One expert suggested that Musk likely has a master plan, and Musk’s chaos tweets are distractions.
Elon Musk is still making jokes, promisesAccording to Twitter’s CEO, “lots of dumb stuff will be done in the next months,” his overall plans for the platform are already beginning to take shape.
On Wednesday, the billionaire appeared to take his first step toward turning Twitter into a super-app — Musk has repeatedly promoted the idea of a single entity in both private and public conversations.
Musk revealed plans to expand Twitter into payment processing and video during a meeting with advertisers. He called the decisions “no-brainer” moves. Musk stated that he intends to make Twitter as useful and valuable as possible, making it more than a rival to traditional social media companies like Snapchat or Facebook.
Musk spoke at the event in Twitter Spaces, saying that “the more useful and entertaining the technology is, the greater the number of people will use it.” “If nothing, I’m a technologist. I can make technology work fast.
Musk is well-known for his accomplishments ambitious production goals at Tesla and SpaceX — though not always on the TimelinesThat is what he has promised. Twitter is a case in point. His timeline might be very short. Musk spoke Thursday to employees of Twitter at a meeting. “Bankruptcy doesn’t seem impossible”If his plans to generate more revenue fail, he will be disappointed.
Musk has discussed repeatedly his plans to create a platform capable of competing with WeChat in China. He initially stated that he would create an “everything” app called “X”. WeChat is an example of an all-encompassing service, You can use these features to message, video chat, game, photo share, ride services and food delivery.
Musk stated Wednesday that Twitter would host longer videos, and offer creators a platform to monetize their content. Musk also stated that the new $7.99 monthly verification fee for Twitter could allow users to use the platform as a conventional payment system. Users could send money through Twitter and deposit it into their bank accounts. The billionaire said the system could even extend into a banking system — complete with high-yield savings accounts, checks, and debit cards.
Musk, who founded PayPal, wouldn’t mind this venture. Twitter already has made strides towards this goal. The New York Times reportedTwitter reported Wednesday that it filed paperwork for registration last week to enable the company’s payment processing.
Insider spoke to Matt Navarra, a social-media expert. He said that Musk’s Twitter decisions since last week may seem haphazard to the untrained eye. However, the billionaire clearly has a plan.
“I’m sure he has a very clear understanding, at least in the head, of core modifications he needs in order to reach his end goal,” Navarra said. He also noted that smaller feature changes may be more “instinctual.”
Over the past week, Musk has solicited feedback on Twitter — even jokingly changing his bio to “Twitter Complaint Hotline Operator” — and replied to users with new ideas for the platform, in some instances Rolling backNew features are released within hours.
“He recognized that it is possible to create a lot media coverage simply by being a major character on Twitter. He’s identified accounts such Stephen King’s, which will generate headlines. OfferKing made Twitter’s $8 verification fee. This was probably not an accidental decision.
Navarra stated that Musk is facing a lot of competition to create a super-app.
He said, “It’s a well-trodden route and not a new idea.” “There are many social media companies that offer more features and are better placed for that role. While it is a wonderful idea, I am not sure if he will be able to pull it off.
