112 sats \ 6 replies \ @vigilantcitizen 23 Jun \ on: Elon Musk’s latest plan to add Venmo-like payments to X excludes crypto crypto
Elon's play is to try to turn X to WeChat - he's been forecasting this for a while. WeChat integrates with the Chinese banking system to make micropayments - its ability to be an "everything app" allows it to take lower transaction fees than the average in the United States when it comes to interchange fees. I suspect Elon will make a similar play with "X payments" or whatever. If he succeeds, it'll unfortunately likely to be an easy-to-track, custodybank payment network that has the added bonus of being tied to your social identity and communications.
turn X to WeChat
I'm not convinced a large percentage of Western users want an "everything app" - certainly not a deep integration between banking and social media.
I think western tech companies have been bamboozled by the cultural differences between Chinese and Western users and don't realize that just because its a hit in China, doesn't mean its going to be a hit here....
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I share your optimism, but I also wonder if we underestimate the population who use Venmo “socially.”
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I've been surprised by how many people leave Venmo privacy public by default
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The sheeple might not want it, they'll be pushed & coralled into using it anyway...
At least that is the plan!
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Including league of legends lol
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