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Elon Musk gives X employees one year to replace your bank - ‘You won’t need a bank account... it would blow my mind if we don’t have that rolled out by the end of next year.’ (www.theverge.com)

submitted 1 year ago by AnActOfCreation@programming.dev to c/technology@lemmy.world

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“If it involves money. It’ll be on our platform. Money or securities or whatever. So, it’s not just like send $20 to my friend. I’m talking about, like, you won’t need a bank account.”

Well that sounds terrifying!

(page 7) 50 comments

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[–] m3t00@lemmy.world 1 points 1 year ago

Sounds a lot like what he used to do with PayPal until the eBay enshitification, I mean sale. I'm for bypassing banks. Elon Fanboy not.

[–] jcdenton@lemy.lol 0 points 1 year ago (1 children)

Something about this doesn't seem right can't put my finger on it

[–] danhakimi@kbin.social 0 points 1 year ago

you can't?

[–] anlumo@lemmy.world -3 points 1 year ago (1 children)

That's actually pretty genius, if he'd be able to pull that off (which he most likely can't). Since banks can invent money out of thin air, he can pay his employees in fictional Dollars and so save a ton on employment expenses. As long as there's no bank run, he'd be fine.

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