Yesterday, the Twitterverse witnessed massive transformation as Elon Musk rebranded it as a new platform called X, the Everything app. At first glance, it might seem like a mere company rebranding, but in reality, the new Twitter name signifies a profound shift from what we were accustomed to.
According to Elon Musk, the essence of Twitter no longer seemed adequate to represent the magnitude of this new platform. The new platform, X, is undergoing a transformative shift to become a super app, seamlessly integrating communication, ride-hailing services, food delivery and revolutionizing the financial landscape, etc.
For context, a super app is a mobile or web application that combines multiple services into one platform. Technically, users can perform multiple activities all in one app instead of using different apps. The ambitious goal is to create a unified platform that caters to a wide range of user needs, offering a holistic experience for users across various industries
In tweets endorsing Musk’s reformation, Linda Yaccarino, the CEO of Twitter, affirmed that X would incorporate fintech elements such as payments and banking. Indeed, in one of her tweets, she said:
X is the future state of unlimited interactivity – centered in audio, video, messaging, and payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine.
The new Twitter, X is pivoting to a fintech platform too
Since its acquisition, Elon Musk appears to always have the intention to transform the platform into X, the Everything app.
Having recognized the potential of super apps, X is set to transform into a comprehensive platform, encompassing banking, payments, and a global marketplace for ideas, goods, and services.
However, this ambitious vision poses a significant challenge for key figures. As Twitter already has a competitor in the space, Threads, some of its users are beginning to see more and more reasons to depart the platform. Especially as Twitter has had a drastic and complete turnaround from what it was loved for.
Furthermore, in economies such as the United States, Europe, and the United Kingdom, people are already accustomed to a wide selection of financial services, including digital challenger banks. This new Elon Musk app will definitely face different competitors so X will need to provide a distinct and compelling value proposition in order to attract and maintain users.
This means X will face stiff competition from established financial institutions and other tech giants aiming to capture the super app market.
Speaking on X becoming a financial stronghold, Elon Musk said:
“Over time, it would become half of the global financial system… It will be by far the biggest sort of financial institution… The most efficient database for the thing that is money, that is like the least amount of fraud, everything is real-time, and if it involves money in any way, it should be dealt with seamlessly…“
X, the Everything app to become a dating platform also
Another idea that we might be seeing with X, the Everything app is a dating feature. This is one pivot in which Elon Musk seems to be quite interested. It all began with a tweet by Elon Musk in May, in which he was expressing his concerns over a study that highlighted the declining fertility rates in Nordic countries.
The tweet sparked a conversation on Twitter, with users proposing various solutions to tackle the issue. Among these suggestions was the idea of a dating platform that could potentially help counter the population decline. In response, a Twitter user suggested a Twitter dating app, saying it “Might save humanity from extinction.”
Elon Musk appeared to be fascinated by the idea, accepting it and hinting at the prospect of putting a dating option into X, the Everything app. While the idea of a dating element within the Everything app is captivating, it is not without obstacles and reservations.
This is because the app would need access to personal information to make meaningful matches, i.e. privacy and security would be paramount. So, to manage the competition, this might just have to be top-notch.
X, the Everything app to incorporate job recruitment features
The Everything app might also have been poised to revolutionize the recruitment landscape with its latest feature. Nima Owji, an app researcher and active Twitter user, shed light on Twitter’s ambitious plan to introduce a novel job feature on the platform.
According to the screenshot, verified organizations will now have the capability to integrate their job listings effortlessly into Twitter by using a supported Applicant Tracking System (ATS) or an XML feed. This integration will enable organizations to promote up to five job opportunities directly on their Twitter profiles without incurring any costs.
However, this revelation comes as no surprise, as Twitter’s CEO, Elon Musk, had already hinted at the possibility of such an initiative in May. Also, in that same month, Twitter acquired Laskie, a tech talent-hiring platform.
The acquisition could be a strategic move to expand Twitter’s capabilities and potentially pave the way for a dedicated jobs section on the platform.
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