Elon Musk says Twitter purchase ‘accelerant’ to creating X, ‘the everything app’

Competitive Enterprise Institute Director Jessica Melugin on Elon Musk dropping his legal fight against Twitter, former President Trump's possible return to the site, SCOTUS taking on Section 230 and TikTok moving toward a U.S. security deal.

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Billionaire Elon Musk revealed Tuesday that his decision to buy Twitter for $44 billion is ultimately “an accelerant to creating X, the everything app.”

“Twitter probably accelerates X by 3 to 5 years, but I could be wrong,” he replied to a user who said it would’ve been easier to start X from scratch. 

X.com was initially an online bank that Musk co-founded in 1999. It went on to merge with software company Confinity Inc. a year later and changed its name to PayPal. 

Online marketplace eBay bought the electronic payments provider for $1.5 billion in 2002 and, in 2015, PayPal was spun off into an independent company.

Musk’s latest tweets come after the CEO of Tesla said during electric vehicle’s annual meeting in August that he had a “grander vision” for what he thought X.com or X corporation could have been. 

“It’s a pretty, pretty grand vision,” Musk said. “Now obviously, that could be started from scratch, but I think Twitter would help accelerate that by three to five years. So it’s kind of like something I thought would be useful for a long time.” 

“I know what to do,” he continued. “I don’t have to have Twitter for that but it would, like I said, it’s probably at least a three-year accelerant and I think it’s something that will be very useful to the world.” 

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