@SenWarren If you were to donate every penny you have, you would be able to pay for quite a lot of child care too, just live paycheck to paycheck like some others
- ECB's Kazaks signals potential rate cut if recession looms
- Emphasizes ongoing monitoring of economic conditions
- Open to speculation on two rate hikes this year
- Acknowledges that tighter financial conditions are having an impact
Nobody can sell their house.
Nobody can afford to buy one.
Retail can barely afford groceries.
Companies can’t afford to refinance their debt at current rates.
$9 trillion of US debt rolls over this year.
But sure, we’re good.
I don’t think people truly understand what’s about to happen with 𝕏 Money.
This is Elon going back to his roots - back to https://t.co/xPHLRiKvNk - and building what he always wanted in the first place: one place that runs your entire financial life.
When he rebranded Twitter to 𝕏 in 2023, he said straight up that we’re adding the ability to conduct your entire financial world. He even said you may not even need a traditional bank account.
Most people brushed that off. And now it’s becoming real.
𝕏 Money has already been live in closed beta internally within the company. A limited external beta is expected soon, and they’ve already secured money transmitter licenses in over 40 states plus DC. 𝕏 Payments is registered with FinCEN. Visa is officially partnered. You’ll be able to fund your wallet instantly, send peer-to-peer payments, move money to your bank, and eventually use a debit card.
And I think this is just the beginning.
This will probably start as a simple wallet where you can send money as easily as sending a DM. With this technology, you can pay creators, pay subscriptions, pay whatever bills, shop inside the app, get paid inside the app, and much more.
Then, there will be high-yield savings, you can invest, you can get loans, have money market accounts, maybe even treasury access, cool smart cashtags that let you see live stock prices in your timeline and execute trades seamlessly, crypto integration, potentially full asset management… the list goes on and on… Elon literally said this is meant to be the central source of ALL monetary transactions.
Bro… think about that for a sec.
Your 𝕏 profile becomes your financial identity.
Everyone you follow is already there. Everyone you interact with is already there. That social graph becomes your distribution engine. Like, you won’t need a separate banking app, no need for a separate investing app, no need for a separate payment app… this all lives where you already spend your time. Right here on 𝕏.
Look at WeChat in China, which Elon always alluded to. Payments, messaging, shopping, investing - all integrated in one app. It handles $ trillions in volume and became deeply embedded in everyone’s daily life. Now 𝕏 is building the Western version of that, but with a more global reach, and xAI’s AI layered on top of all this.
Before you call me crazy, you have to understand how big this opportunity is.
Digital payments globally are measured in the tens of $ trillions of dollars annually. Even just capturing a small slice of that across hundreds of millions, and eventually a billion, users can change everything. 𝕏 already has the audience. That lowers customer acquisition costs significantly. Add fintech revenue on top of ads, plus float, plus lending, plus investing tools, and we’re talking about a completely different valuation profile.
Now, $44B for this company looks like the bargain of the decade… this was one of the main reasons I invested in 𝕏.
And if they execute the way they’ve executed at Tesla and SpaceX, this could truly fundamentally redefine how people handle $ .
Most people today still see 𝕏 as just a social media app. I see it as the foundation of a financial system layered on top of a global network. Ultimately becoming the “everything” app.
And this I believe is a once-in-a-generation opportunity.
Elon is calling this a game-changer.
I believe him.
🚨 UPDATE: IT’S GETTING WORSE
I pulled up last week’s top insider trades.
Look at the image.
A Walton just dumped $1 BILLION in Walmart stock.
RCL directors filed FIVE separate sales in one week.
MSI’s CEO sold on back-to-back days.
META’s CFO sold multiple times.
GOOG affiliates filed SIX proposed sales.
Now scroll down that entire list.
Almost every single line is red.
There is ONE buy out of 40+ transactions.
The people who know the most are selling the fastest.
I’ll keep tracking insider moves, and I’ll keep you updated like I always do.
All you have to do is follow me so you don’t miss any important updates.
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ELON: “I DON’T BUY STOCKS, I BUILD THINGS”
“I don’t really buy stocks.
I’m not like an investor, I don’t look for things to invest in.
I just try to build things.
And then there happens to be stock of the company that I built.
I don’t think about whether I should invest in a company or not.
I don’t have a portfolio or anything.
I guess AI and robotics are going to be very important.
So I suppose it would be AI and robotics, that aren’t related to me.
I think Google is going to be pretty valuable in the future.
They’ve laid the groundwork for immense value creation from an AI standpoint.
And Nvidia is obvious at this point.
There’s an argument that companies doing AI, robotics, and maybe space flight are going to be overwhelming.”
Source: @nikhilkamathcio