Tesla Inc. TSLA CEO Elon Musk said purchase Twitter Inc. TWTR would hasten the birth of “X,” one app for everything, but it’s not yet certain what shape the upcoming platform might take, even though the entrepreneur has revived the abandoned business.
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The X Factor: On Tuesday, Musk said on Twitter that the purchase of “Twitter is an accelerator to the creation of X, the app of everything.”
The name X is important because Musk made his fortune from an early start-up called X.comwhich later turned into PayPal Holdings Inc. PYPL.
Twitter probably speeds up X by 3-5 years, but I could be wrong
— Elon Musk (@elonmusk) October 4, 2022
When asked by a Twitter user on Tuesday if it wouldn’t be easier to start X from scratch, Musk said buying Twitter speeds up X by three to five years. However, the entrepreneur said he “could be wrong”.
Tesla’s Universe: Tesla is widely known for making electric vehicles, but that hasn’t stopped the company from branching out into other product lines and services. At the company’s latest AI Day, Musk and company showcased a humanoid robot.
The company’s vehicles are already app-ready and can be accessed via smartphones. Users can lock and unlock their vehicles, manage climate control and do more with the existing Tesla app.
Gaming enthusiast Musk said in February that the company was working on the “general case” of running Steam games on a Tesla. Last year, Musk confirmed that Cyberpunk 2077 would be playable on the Model S and Model X infotainment systems.
Most recently, on Tuesday, Musk said he supports bringing Tesla images to games. He said, “It would be cool to make a game using Tesla Sim that is literally your town and your neighborhood, right down to the skid marks on the road, and then inject some fantasy/sci-fi elements into it.”
Is Musk onto something? Musk’s plans to create a super app are neither new nor unprecedented. In Asia, super-apps are already part of everyday life. ten cents WeChat and Naver and SoftBank’s The LINE app is popular in the region.
In May, a Taiwan-based analyst Ming Chi Kuo said Tencent’s respective 2021 revenues from social media, advertising, and fintech and business services were $17.6 billion, $13.3 billion, and $25.8 billion.
Kuo said Musk’s previously stated goal of quadrupling Twitter’s revenue to $26.4 billion by 2028 was “achievable.”
In June, Musk said during an interaction with Twitter employees that he wanted to make sure people didn’t see “boring” content and cited TikTok as a model example, Gizmodo reported.
The shape of X: Given Musk’s comments since he originally offered to buy Twitter and his most recent posts on the platform, it wouldn’t be a stretch to say that X could merge Tesla’s core universe and add elements of entertainment, social media and payments to the mix.
In a recent report, Bloomberg touched on Musk’s public thoughts on how to make Twitter more useful and more like WeChat and TikTok, it looks like Musk is likely to toy with the idea of letting people use a single app to a wide variety of services from summoning a car to posting updates on social networks.
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