Why Elon Musk Wants to Make X, an ‘Everything App’

Why is Elon Musk abruptly enthusiastic about creating an “everything app,” and what does that even imply?

The query arose on Tuesday after the billionaire chief government of Tesla reversed course on his earlier choice to not purchase Twitter. Musk is now prepared to proceed along with his unique plan to purchase the social media firm for $44 billion (roughly Rs. 3,59,100 crore) and late on Tuesday he tweeted: “Buying Twitter is an accelerant to creating X, the everything app.”

The idea of an every thing app, sometimes called a “super app,” is massively well-liked in Asia and tech corporations internationally have tried to copy it.

What is an excellent app ?

An excellent app, or what Musk refers to as an “everything app,” has been described because the Swiss military knife of cell apps, providing a set of providers for customers comparable to messaging, social networking, peer-to-peer funds and e-commerce purchasing.

These mega apps are extensively utilized in Asia as a result of cell is the primary type of entry to the web for many individuals within the area, wrote Scott Galloway, a New York University professor of selling and co-host of tech podcast “Pivot,” final 12 months.

What are some examples of tremendous apps?

Chinese tremendous app WeChat has greater than 1 billion month-to-month customers, in line with one estimate, and is a ubiquitous a part of every day life in China. Users can hail a automotive or taxi, ship cash to family and friends or make funds at shops. In 2018, some Chinese cities started testing WeChat for an digital identification system that will be tied to customers’ accounts, in line with the South China Morning Post.

Grab, a number one tremendous app throughout Southeast Asia, affords meals supply, ride-hailing, on-demand package deal supply and monetary providers and investing.

Why does Musk need to make an excellent app?

During a question-and-answer session with Twitter staff in June, Musk famous there isn’t a equal to an excellent app like WeChat outdoors of Asia.

“You basically live on WeChat in China,” he stated, including he noticed a chance to create such an app.

Adding extra instruments and providers to Twitter may additionally assist Musk attain his lofty development objectives for the corporate. During the Q&A with staff, Musk stated he needed Twitter to develop from its 237 million customers to “at least a billion.”

Musk and members of his inside circle texted a number of occasions in regards to the thought of including digital funds to Twitter, in line with messages launched within the discovery section of litigation between Musk and the social media firm.

Have different US corporations tried this?

Yes, Snapchat beforehand launched peer-to-peer funds known as Snapcash, however ended the characteristic in 2018. It additionally made a push into cell gaming and not too long ago ended that enterprise as a part of cost-cutting plans.

Meta’s Facebook and Instagram have additionally tried to develop past social networking and messaging into e-commerce.

© Thomson Reuters 2022