Elon Musk trying to construct stock-trading hub inside X app: report
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Elon Musk is reportedly laying the groundwork for an funding buying and selling hub that may function on the X platform – taking a step nearer towards realizing his imaginative and prescient of turning the positioning as soon as often called Twitter right into a one-stop store “everything app.”
The billionaire tech mogul is asking a monetary information firm to construct the inventory buying and selling hub inside X, in response to a report by the news site Semafor.
“Actual-time data is a robust drive, particularly on the earth of investing,” X wrote in its pitch to a number of monetary information companies who could be tasked with creating a platform providing real-time data on inventory actions and different content material.
X is trying to entice firms by providing them an opportunity to realize publicity to “a whole bunch of hundreds of thousands of highly-qualified customers,” in response to the pitch which was obtained by Semafor.
However X isn’t providing any fee to the businesses, in response to Semafor.
As a substitute, firms must pony up their very own funds in the event that they hope to participate within the undertaking, in response to Semafor.
Musk on Thursday denied the report.
“No work is being performed on this to one of the best of my information,” he wrote on X.
Musk, who purchased what was then Twitter for $44 billion final fall, has spoken prior to now about remodeling X into an app that may emulate WeChat in China.
WeChat, the platform owned by Chinese language tech unicorn Tencent, has an estimated consumer base of practically 1.4 billion folks – which is sort of the entire nation’s inhabitants.
By WeChat, Chinese language nationals can message, voice and video name, join on social media, order meals supply, make cell funds, play video games, learn the information, and even assembly others for dates.
However critics notice that whereas Musk purchased Twitter to revive its free speech-inspired mission, WeChat is commonly cited as an app that permits the Chinese language authorities to track the behavior of its citizens.
After buying Twitter final yr, Musk said that the deal was “an accelerant to creating X, the every little thing app.”
The “Seize” app in Singapore and Japan’s “Line” app are comparable “every little thing” platforms which have been praised by Musk prior to now.
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