Question: What is the most important trait, in terms of public image and perception, for a financial institution to have?
Hint: It is NOT one that is correctly perceived to be overrun by fascist trolls and Russian bots, is already running into regulatory trouble with several governments, and responds to all media inquiries with a poop emoji. 
Maybe it’s just never been tried?
Which is why I said that regulatory issues will be his problem. What I said was that an inclusive payment/content creation site has a lot to offer. But I also said it’s probably not been done before because of the regulatory headaches - everything from banking regs to antitrust could bite Musk’s ass here, and he is spectacularly unsuited to dealing with regulatory bureaucracies.
I don’t kmow that he has to project the stability of a bank, though. People have had no problem putting momey into all kinds of internet financial concerns that have no track record. FTX, for example. Or Paypal itself Or any number of internet stores and services people will give their credit cards to.
It’s the regulators he has to worry about, and the administration. And he’s been doing everything he can to alienate them or turn them against him. The regulatory waters are going to be very choppy for Twitter and Musk.
I don’t think “establishing a reputation such that nobody in their right mind is going to let you pull funds from their bank account” is a “regulatory issue”.
It’s not just stability, another requirement is just basic trustworthiness. Elmo has none of those things – zero. Yes, people were scammed by FTX, many lost money on Bitcoin, too, and a few lost not inconsiderable sums to Nigerian princes. Elmo’s market is likely to be limited to very stupid people, which is not a large nor particularly wealthy market.
Twitch?
*sssshhhhh… we don’t want to give the impression that Elmo is inventing something that already exists… that would be unprecedented…*
Sorry, not familiar woth Twitch. Isn’t that basically for streaming game play? Whatmother content is on Twitch?
You left out,
*Elmo is inventing something that already exists but in a way that makes it, at least, an order of magnitude worse than what already exists*
Music, art, food and drink reviews (and cooking tips), outdoor exploration, all kinds of stuff.
I’m honestly a bit amazed someone would be so ignorant of modern social media yet be so committed to the idea that whatever musk did is somehow visionary in that space.
I’m really tempted to sign up to Twitch with the userid “Whatmother”.
Interesting. Maybe i should sign up for Twitch.
I’m honestly amazed that you can read what I just wrote and conclude that I think that “Whatever Musk did is somehow visionary”. What I actually said after linking to a straightforward and not-flattering account of his plans was to say that while this might be his plan, I doubted that he could pull it off and regulatory issues would likely kill it.
You really should stop lying about me. It makes you look bad.
Yeah, the two sentences in that ten paragraph post really made that clear!
“It’s a visionary agenda” and “It’s a regulatory nightmare that X is not well equipped to deal with.” Don’t seem like two statements that are in any particular contention.
Chingon’s read seems reasonable.
Likewise, a Dyson sphere is a visionary concept and completely impractical. Visionary doesn’t imply do-able.
Sam, you realize you’ve been caught lying over and over again, to the point that it’s just boring and that’s your entire identity. You’re just “the liar guy”. You accusing someone of lying is just so pathetic, you should be ashamed if you had two brain cells to rub together and were capable of such a thing.
You are such a loser.
His facts are just more Agile than yours!
Maybe another ten paragraphs of out-of-touch ramblings will convince us that Musk has a secret master plan that will dominate the social media AND payment space
To be fair, at least he admits that lying makes him look bad.