Elon Musk’s ‘Crypto Plans’ Leaked After Q&A Session With Twitter Employees
Billionaire Tesla CEO Elon Musk expanded on his plans for Twitter, including crypto payments, in a leaked Q&A session with employees
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Elon Musk. Image: Shutterstock
(Decrypt) Elon Musk shared further details of his plans for how crypto could be used on Twitter in a leaked Q&A session with employees of the social media company.
Per a transcript of the meeting released by Vox, the billionaire Tesla CEO expounded on how payments, including crypto, are a “critical area” for Twitter, and highlighted the ongoing issue of crypto scams on the social media platform.
“Money is fundamentally digital at this point,” Musk said. He added that, “it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth,” noting that this would include, “currency as well as crypto.”
Stating that his goal is “to maximize the usefulness of the service,” Musk said that, “if one can use it to make convenient payments, that’s an increase in usefulness.” He added that, news, entertainment and payments are “three critical areas” for Twitter, in order to make the service “so compelling that you can’t live without it and that everyone wants to use it.”
Musk’s suggestion that Twitter integrate payments mirrors his earlier argument that the platform should become a WeChat-style “super app”; the Chinese social media platform brings together multiple services including ride hailing, food delivery and payments under one umbrella.
Musk takes aim at Twitter crypto scams
In the Q&A, Musk also addressed an ongoing pet peeve: the prevalence of bots and crypto scams on Twitter. “There’s quite a lot of crypto scams on Twitter,” he said, conceding that, “It’s gotten better, but there’s still a fair bit of that.”
He added that, “There are also people where they’re not necessarily bots, but they might be operating. You know, one person’s operating hundreds of accounts and trying to make them look like individuals, but they’re not.”
