Elon Musk gives X employees one year to replace your bank
www.theverge.com
Musk wants your “entire financial life” on his platform.

“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!

  • onlinepersona@programming.devEnglish
    101·
    8 months ago

    I dunno, it has 200M active users, doesn’t it? Wouldn’t surprise me if “free bank” popped up in their face a few times a week with “free transfers” and “guaranteed best interest rates”.

    • Rokk@feddit.ukEnglish
      18·
      8 months ago

      For parts of the world ‘free bank’ and ‘free transfers’ are just the norm anyway. I’m amazed it isn’t the case in the US already.

        • Clay_pidgin@sh.itjust.worksEnglish
          2·
          8 months ago

          What is the alternative to a paycheck? Most Americans get the money deposited directly to their bank account anyway, there’s no actual paper check involved.

      • 9point6@lemmy.worldEnglish
        1·
        8 months ago

        It’s always crazy to be reminded this. The banks make money from your savings and your debt with them, they don’t need to be double or triple dipping on charging you for the privilege of letting them do that or sending it to somewhere else to do the same

    • Omega_Jimes@lemmy.caEnglish
      4·
      8 months ago

      It’s actually wild to me,as a Canadian, how this isn’t a thing in America. Interac blows away my American friends on a constant basis.

    • MajorHavoc@lemmy.worldEnglish
      3·
      8 months ago

      Good point.

      I dunno, it has 200M active users, doesn’t it?

      It’s hard to be really sure, because we know there’s a staggering number of bots.

      But I suppose even if the real number is a fraction of that 200M, it’s still a huge number of users.