Twitter’s Wild Ride: From Tweets to X.com
In this intriguing development, Twitter undergoes a transformation into X.com. The move is of significant importance, given the immense influence wielded by both the platform and its owner, Elon Musk. Delving into the past, we find that Musk’s association with X.com dates back to the 90s when he acquired it. His ambitious vision was to establish a seamless payment platform through a merger with PayPal. However, the notorious PayPal Mafia thwarted this plan, resulting in his eventual ousting from the company, making way for Peter Thiel.
But Elon’s dreams don’t end there. He has repeatedly expressed his desire to create an all-encompassing app akin to WeChat’s success in China. Foreseeing payments as the foundation of this “super app,” the rebranding of Twitter to X.com appears to be the initial stride towards realizing this ambitious goal. As this captivating journey unfolds, one can’t help but wonder what the future holds for this dynamic entrepreneur and his latest venture.
China’s success with the WeChat super app concept can be attributed to strict government policies and regulations. On the other hand, WhatsApp faced several unsuccessful attempts at implementing a payments layer in India and other markets. In contrast to China’s environment, the rest of the world offers a more level playing field, with fierce competition from various local and global apps like PayPal, PayTM, Amazon, Flipkart, eBay, and Instagram. Currently, people are content using different apps for specific purposes as it’s easy to switch between them with a few clicks.
Elon Musk, with his considerable resources and influence, could take inspiration from successful super apps like Go-jek and Grab, which have managed to coexist and thrive despite facing giant competitors. The Apple ecosystem is a testament to the fact that a well-delivered, seamless experience is highly desirable to users.
PayTM’s attempts to become a super app with features like PayTM Mall and Inbox have not been successful. Similarly, Tata Neu, despite having the backing of Tata’s capital and trust, has not gained much popularity due to its inability to provide a consistent user experience.
The Indian ecosystem, thanks to initiatives like UPI, DIGI Locker, Adhaar, and ONDC, holds a unique position. India Stack promises a well-regulated, seamless experience without relying heavily on any single private organization.
Elon Musk’s decision to rebrand Twitter as X.com comes with high ambitions and challenges. Building a super app with payments at its core is a bold move, especially considering the competition in the global market. While Elon has the resources and influence to make it work, he’ll need to navigate through various obstacles. Learning from successful super apps like WeChat and adopting strategies that have worked for them could prove beneficial. However, it remains to be seen whether the world is ready for a one-stop app for all its needs.
FAQs
What is the reason behind Twitter’s rebranding to X.com?
Twitter is being rebranded to X.com as Elon Musk aspires to create an everything app with payments at its core, similar to what WeChat does in China.
Has Elon Musk tried to create a seamless payment platform before?
Yes, during the 90s, Elon tried to merge X.com with PayPal to create a seamless payment platform, but it didn’t work out, and he was later ousted from the company.
Why is building a super app with payments challenging?
Creating a super app with payments is challenging due to competition from various local and global apps and the absence of stringent government policies and regulations like those in China.
What examples of successful super apps can Elon Musk learn from?
Elon can learn from super apps like Go-jek and Grab, which have co-existed and succeeded alongside giants.
How is the Indian context different for building a super app?
The Indian context has unique challenges, with apps like PayTM and Tata Neu facing difficulties in delivering a consistent experience. However, the India stack offers a well-regulated yet seamless ecosystem without relying on a single private organization.
