After a few months’ pause, the story of Elon Musk & Twitter has re-ignited as the world’s richest billionaire decided to take a U-turn on canceling the deal and opting for a legal battle.
Now Musk wants to buy Twitter for $54.20 per share, the price he initially offered back in April. As this deal is the talk of the town and Wallstreet right now, Musk is also pouring his opinions and thoughts on what will soon be his own social media platform Twitter.
Amongst all the news of securing financing and legal stuff, Elon Musk dropped some interesting detail on what impact the buying out of Twitter will have on Musk’s future plans.
“Buying Twitter is an accelerant to creating X, the everything app,” Elon Musk tweeted. Here, he opened up a little bit about what’s cooking in his brain after developing multiple successful companies.
From the looks of it, Elon Musk is talking about an app named X that would do everything that we do today on the internet, mainly social media (Twitter integration), Robotaxi ride sharing (Tesla Autopilot), search engine, payments system (probably crypto), possibly a metaverse, and much more.
“Twitter probably accelerates X by 3 to 5 years, but I could be wrong,” Musk said in a follow-up tweet. Perhaps, he means that building the social media segment of the X app is done for the most part as the Twitter deal closes.
Earlier this year, Musk announced his offer to buy Twitter for around $44 billion. To acquire the social media giant, he formed a holding company named X Holdings, Inc. Musk registered two of these companies, X Holdings I, Inc. which is the parent company and X Holdings, II, Inc. is actually the purchaser of Twitter, Inc.
The details of these X holding companies were revealed in a letter from Elon Musk to the United States Securities and Exchange Commission (SEC) for the acquisition process of Twitter earlier this year.
Musk not only wants to create a single app that provides a complete digital and virtual ecosystem but he also wants to keep an umbrella corporation to have oversight on all of Elon Musk’s companies.
The closest example would be Alphabet, the parent company of Google and its sister concerns. But Alphabet does not have a single app that covers all aspects of its subsidiaries.
Elon Musk bought back X.com from PayPal in 2017. X.com was Musk’s original venture for online payments which later on merged with PayPal. So, X.com will be the digital epicenter of the X everything app.
As Elon Musk said in the tweet above, X has been accelerated by 3-5 years by the Twitter acquisition. No one except Elon Musk knows what the actual timeline he has planned for the X app in his mind — the term Elon Time is already famous when it comes to Musk’s project timelines.
What do you think Elon Musk’s X app will include? Let us know in the comments section below.
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— DogeDesigner (@cb_doge) October 8, 2022
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