Read the letter urging regulators to end Musk’s dream of turning X into a bank.

X “unfit” for banking because of complicity in Saudi spying, lawyers argue::Read the letter urging regulators to end Musk’s dream of turning X into a bank.

  • Sovereign_13@lemmy.worldEnglish
    3·
    10 months ago

    I don’t think he ever planned to be bought out the first time.

    Per a coworker who has paid much closer attention than me, the “plan” (if you can call it that) was always to build an independent financial system that is presumably less regulated than the current one.

    The same coworker believes he bought Twitter solely for its established user base and nothing more. The “free speech” aspect was to attract people who would probably be interested in a deregulated financial system.

    • Steeve@lemmy.caEnglish
      5·
      10 months ago

      I want to believe this, because I want to make it make sense, but honestly the simplest explanation (and imo most likely) is that he’s just an idiot who got lucky one time with no plan at all

      • Sovereign_13@lemmy.worldEnglish
        3·
        10 months ago

        I mean he might have some idea of what he wants to do, no good/sound plan to get there, and enough money to just keep failing forwards. Those things aren’t mutually exclusive.

        Like the OceanGate guy. Money and an idea don’t make you a visionary genius mastermind, but they can let you cosplay as one.