Home News Elon Musk – Why X is the Future of Everything

Elon Musk – Why X is the Future of Everything

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The CEO of the entrepreneur’s first hit was with a bank, which was then bought out and merged with PayPal. When he was awarded rights to the X website, he chose to rename his company with his old online moniker.

After ending his fight with the company and agreeing to a $44 billion settlement on Tuesday, Elon Musk has a new plan for Twitter Inc.

Earlier Tuesday, Musk filed with the Securities and Exchange Commission a disclosure about the decision. Musk announced the decision in a tweet. Tesla’s CEO has had plenty of ideas to fix Twitter, and this is the first time that he mentions a possible solution in the form of a new app that incorporates Twitter – even if he did tweet about the potential name of the app a few months ago.

During a conversation with Twitter’s staff earlier on in the acquisition process, Musk brought up the topic of wanting to create a super app — a notion that has come to China in the form of companies such as WeChat, and has not yet reached the United States.

This is not the first time the letter X has come up in Elon Musk’s history. He is said to have struck an unprecedented early win when, as an entrepreneur, he created an online bank with the letter at the beginning. This online bank later became what is known today as PayPal Holdings, Inc.

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eBay, Inc., bought PayPal in 2002, making Musk $1.5 billion. Afterward, he funneled it to Tesla and SpaceX, but in 2017 he returned to the auction site with an unknown amount and bought the domain of the only available letter: X.

X.com currently has just a single X on a white background – Musk has not done much with the website. As a result of his April acquisition of Twitter for $44 billion, he established X Holdings, which would swallow Twitter once the acquisition closed.

Twitter refused his demand to back out of the deal and the two fought it out in court. The week before a Delaware trial was to start, Musk submitted a letter and said he would go through with the deal so long as the court case is dropped.

Up until a week ago, he had said there was no point in hurrying and he only recently tweeted: Previously, my thinking was that, given the pace at which things are developing, there wasn’t much point in hurry.

In spite of Musk’s plans being secret for now, he has dropped one clue about them: X marks the spot.

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