this post was submitted on 27 Oct 2023
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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 2 years ago by AnActOfCreation@programming.dev to c/technology@lemmy.world
338 comments fedilink hide all child comments
 

“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!

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[–] m3t00@lemmy.world 1 points 2 years 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 2 years ago (1 children)

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

[–] danhakimi@kbin.social 0 points 2 years ago

you can't?

[–] anlumo@lemmy.world -3 points 2 years 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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