As a Chinese myself, been using WeChat since 2012 . It's just a chat app. Other apps are not WeChat . They are third-party apps that can be accessed inside WeChat but they're not WeChat
It makes sense, Musk has experience in a Google Maps like app and payment Systems like PayPal. He just bought twitter for the brand and the userbase and the fact that there was no real competition for twitter (no where to run) because twitter was so unprofitable.
Elon dreaming and ignoring the reality and people believe in him. And then watch the latest WSJ investigations and videos about the car crash when the famous autopilot fsd crashed into a standing police car on the highway with a sleeping driver. Tesla rejects any further informations while the videos and anlysis showed how crazy stupid Elons idea is in 2023 announced to be operational in 2020. And this will not be the last incident and situation his AI is stupid based on human judgement cause a human, that is not drunk or sleeping, would have instantly stopped if he sees a flashing police car. What else do you need to raise the attention - unless you are Elons AI and drive like a drunk into the police car injuring 5 who are now going to court. Strange , that victims of Elons crap have to go to court and his famous Tesla brand is not going forward to excuse for all the hurts caused by tesla. Of cause not, tesla is innoncent if things go wrong, it was the drivers fault. Really, in a world of AI learning the whole Tesla fleet has seen a standing and flashing police car for the very first time ? Then it might be time to stop such adventures on publich roads and stop the whole Tesla autopilot due to missing abilities and proofs that it is not ripe or ready for public streats. They do not pay, they do not take care, they take foreigners life as their commodity, can even kill others and will blame the car owner. He is a constant lier, he has gotten beaten by the tiny car manufacturer he had laughed about that this would not be a competition in 2014 even though Warren Buffet had invested 800 million $. Now BYD is market leader in the world and making even more profits and has a higher growth rate than Elons Teslas. At least BYD is honest and is not talking about autopilot or fsd, but features they have implemented and that are working. Twitter is dead since Elon arrived and now with the lower advertiser revenues he has to find new ways to raise the value of the company which otherwise would be dead. Now X becomes a warehous, from everything a bit to make profits without ad growth needed instead of being the expert of 135 letters like in the past.
With the blocking of news on Facebook and Google in Canada in response to federal legislation, might this not be an opportunity for Musk and X to embrace the Canadian model and make a buck off of it? Twitter is already a platform people use for sharing news articles and engaging other users regarding the topic of the shared articles. People don't want to dish out multiple tens of dollars for news subscription but X could act like a cable company offering a package to be accessed through its platform with articles being shared with other users and discussion started within the platform.
You can have a super app work nicely in a single very large country, but a super app in the west would have to take into account the different services, providers etc in each country. This would make it very complex and probably unusable in many countries. Nobody would bother.
I think innovators changes I'll entire heads around technology and what's possible. Who would've thought we would have mobile computers in the size of I'll palm while connected to the interwebs.
With the right API and enough incentive like a marketplace for services with comission you could thrust the use. Why bother with paypal when you have Credit Cards ?
One of the main issues here is that the userbase of Twitter is just abysmal compared to those super apps. Wechat already was running on literally everybody's phone when they added these features, while Twitter barely has active users, it's just a 'shouty app' for a marginally small amount of people worldwide. The value here was that there were verified users (famous people, organisations, even govt offices) who could post updates in real time and publicly. Now this is basically collapsing with the new and broken blue system, so all that is left is a shouty app for a few angry users, and i for one definitely would not want to do any financial stuff on such a platform.
I always saw Twitter as a stock app. It's value was 100% in it's name. I laughed my ass off when Elon changed it's value to nothing just by changing the name.
Yeah, Twitter is tiny. Its user count is barely larger than Pinterest. Yet to the people who live on it like Elon, it's their entire world. I guess that's why he decided to forgo doing due diligence before signing the papers to buy the company.
that's not true, wechat was a very popular chat app in the early '10s already, much like imessage in the US, if you didn't have it, you missed out on social life with friends@@kazzxtrismus
It's already lost. The first thing a payments app needs is to be trusted, and his bad calls have destroyed all the trust people had on Twitter. It won't get anywhere.
Anyone who ever trusted twitter is a twit. Elon has improved some of it, but he's like polishing a turd. (And changing the name to Z was the worst marketing of all time. Proper nouns cannot only be one letter.)
Within the first couple months of him buying the site, I unlinked my Twitter from everything else I cared about because of security concerns caused by his firing everybody with any competence. He also just has a long history of lies and broken promises. He's been saying Tesla's full self driving has been "ready" for how many years now? And it's pretty evident that Tesla is actually at the back of the pack for that tech.
@@WobblyBits_X Name one specific example of a "security concern" that was caused by Elon firing all the corrupt woketard losers, or "everybody with any competence" as you dishonestly mis-label them. Elon has his faults, but firing all the vile toxic idealogues from Twitter was not one of them. It would be better to have no internet at all than the pre-Elon twitter. You're just angry that the Twitter "fact-checkers" are no longer corrupt enough to promote your most extreme far-left position every single time.
The key thing Elon is missing here is that for a super app to work you need trust. And judging by the mass-layoffs and childish behaviour, people have lost a lot of it in regards to twitter
And also crazy political claims on Trump, Putin, China and so on. For most of the people I know, including me, we totally lost trust on him because of that.
you use amazon because you trust jeff bezos? if some seller on amazon scams you, will you say oh I trust jeff he automatically give my money back, If yes then I trust Elon!
yes, completely lose respect, the guy is a big man-child, and not in a good way. he shown us again and again, when he was defeated instead of owning his mistake like a man , he would resort to insult, bully, making a meme out of them. not to mention people still remember his financial scam till this day
@@MiniKodjoYeah everyone uses either apple or Google accounts, and we all know Google listens to your microphone, tracks you, sells your into, they do all that without being a convenient super app lmao
I LOVE the idea, I HATE the implementation. The most famous superapps I know are WeChat and Weibo, both of which are fruit of China's intranet. On purpose or not, they are THE most important tools used by the CCP. The fact that the few times a "superapp" tried to get here were by the hands of questionable companies or people (Mark, Elon and Jeff), I know very well about their intentions: information monopoly! It kinda hurts that standing in the autism spectrum means that unifying things in a single site/app helps management a lot, but I'd rather deal with it than risk massive breeches in privacy LMAO
In Brazil, the Central Bank created a payment protocol named PIX to handle digital transactions between person-to-person or person-to-business. The transactions generally take seconds to complete and it's widely adopted by banks and business here. Any digital payments that are not credit card based and don't use PIX are destined to fail here. WhatsApp, for instance, is insanely popular in Brazil, but no one uses it to transfer money because they don't use the PIX protocol (since they're not a bank with local representation). I imagine that a lot of other countries have some distinct local financial behavior, and I think Twitter/X will not be able to localize their solutions.
Exact reason why whatsapp payments failed in India, because it didn't initially (yet?) use UPI, like PayTM did. ADD: On the other hand Google Pay was one of the early adopters of UPI so it prospered in India. So it's possible, but I'd argue that Twitter doesn't have anywhere as big reach as Google. In the end this might be what makes or breaks X's dream of global payment mega app.
Aqui na Alemanha as pessoas não gostam nem de pagar com cartão de débito, preferem ir ao caixa eletrônico sacar dinheiro para comprar as coisas. Imagina se alguém iria usar um único APP para pagar contas, fazer compras e concentrar toda a vida ali dentro.
@@fraufuchs9555Moçambique é a mesma coisa. Apesar da plataforma m-Pesa dominar o mercado das transacções. Ele funciona com base no teu número de telemóvel, não precisas ter nenhuma conta bancária para usar. Então é super fácil e inclusiva de usar.
@@pia31415 Whatsapp Pay works on UPI. But now when every person already has multiple UPI apps on their phone, no one is particularly interested in registering for Whatsapp UPI.
I think part of the problem any App is going to face is that it's not enough to be new and frictionless anymore. You have to be exceptionally more friction less than pre-existing options. Things like Pay Pal took off because, well, they were basically the only option to make online commerce easy. And for that same reason, a simple pay pal clone would not displace them. A lot of modern platforms are trying to provide a slightly better version of something that already exists. And there's not really a huge gap between hitting one button to send money in App A and hitting the tile on my homescreen to send money with App B. Especially because a lot of Apps these days are simple interoperable. Why do I need an everything app when I can instantly share a photo on instagram, discord, facebook messenger, or a phone chat with exactly the same ease. And I use each of those services for entirely different things.
I kind of think the reason modern apps are so successful is because they do one thing. The early internet in the West has websites that tried to do everything at the time but didn’t do tasks well.
Facebook is a terrible thing to use because it tries to be a messenger, a social media site, a video platform, a shopping site, a transfer app and whatever else it is. The Super app only work in china because the government can just make people use it and they have no choice
I absolutely hate the "one app, one function" thing. Now instead of going to a website, I have to download each service's app? Each airline, shop, utility, restaurant, messaging service all have different apps I have to download and setup each time? Recently I paid for an online purchase through Shop, and it told me I had to download their app to track my shipment? Mate, all I want is the UPS tracking code. Waste of time and space.
10 apps doing each their thing is very different from 10 apps being integrated into one system. The integration into one system has potential to increase the quality and quantity of use cases like exponentially. That's why you can do things with Chinese super apps that you can't even dream of doing with 1000 separate apps on your phone. Anyway, the conditions for building super apps in the West are not the same as in China. The super app is actually not just the software or some server farms behind it. The super app is actually the whole infrastructure behind it, that has to work seamlessly together. Infrastructure such as rails, roads, smart cities, highspeed mobile networks everywhere, a vibrant economy with small and big services everywhere, cybersecurity, institutions for users to file complaints online and get justice near immediately if a company does shady stuff with their data, even the law plays a big role here and has to be constantly adjusted according to the Users needs. China has all of this. I've witnessed it and used it during my stays. The Chinese super app's level of comfort, safety, efficiency, near infinite choices is unreachable by the west. Mabye one has to experience it themself to understand how much more powerful a super app is compared to it's sum of isolated parts.
I think there's potential for not-so-super apps, that would focus on integration in one specific industry each. For example the passenger transport app, memberships app, delivery app...
@@guydreamr That's a weird thing to be offended by. Are you first day on the internet? How's this person supposed to know what it wrote in another comment?
In order to make a super app feasable, you not only need to develop it first, but you also need to get over the legal challenges too. Something that in the western world just won't fly by.
If elon wanted to succeed, he should've just kept it as twitter and downplayed his involvement while introducing new features until you can do pretty much anything on it
Tesla and his Space companies succeed not because of his actions but because he has brilliant people working for him who let these companies succeed despite Musk's actions.
really he has two separate goals for Twitter. one is turn it into a super app and the other is to turn it into a free speech thunderdome for far-right extremists. the second goal of catering to far right extremists seems to be the goal which is much more important to elan. it's pretty easy to tell where he's putting all his energy.
At least in the Netherlands, you don't really need an extra app for payments because there are interoperable standards that all banks use. It's also why things like Paypal and even the concept of credit cards aren't that big here; you just hardly ever need it. And nobody outside of China needs an app that pretends to be an OS because we already have those. I also think that people in more established markets tend to be a bit more wary of the concept, regardless of who runs it.
Portugal is identical, we have a arm system that is a network between all banks paid by advertising on the arm itself, also you can do a lot of stuff on the atm, even renewing a hunting license for example. And the same network that created that have an app that allows to send money to any person using they mobile number free of charge and it's is received the same second is sent. Also allows to pay using the phone camera or take money in a atm without a physical card. Now it even allowes to request a receipt with you fiscal number to ever payment made with the camera, without needing to ask the seller an wait for him to enter your number on the pos...
Twitter barely functions as Twitter as-is, if he really expects it to become as big and as comprehensive as WeChat he’s living in a fantasy, but that was hardly hard to believe.
@@bryanleebmy Twitter is broken, can't even search half the time. Only see old tweets unless u scroll for like 10 times. Have a permanent prompt on DMs saying messages not available at the moment.
@@Gabzilla19 Oh, like how the site is completely busted if you’re not logged in and doesn’t show posts past a few months ago? Or how he caused the site to DDoS itself through poorly thought out ways of enforcing a “tweet view quota”? Shit man, did they ever fix text based 2FA being offline, locking people out of their accounts? Because of micro services HE EXPLICITLY mentioned taking offline? The site continues to make browsers freeE randomly, too.
More like 0.05%. Remember the so-called "revolutionary transportation idea" of Elon which was the Hyperloop? Millions of taxpayer dollars was sunk into after Elon convinced an entire city to invest in the Hyperloop project over actual public transport system and over the years nothing came out of it.
@@locacharliewongTesla has only had like 1 or 2 profitable years, and now other brands are set to eat a lot of Tesla's shares on the EV market, as their de facto monopoly comes to an end. What happened to autonomous drivning? Tesla Semi? Starlink seems to be the only SpaceX projects not go up in flames...
The US already effectively has has 2 super-apps. iOS and Android OS. They provide access to tons of downloadable “mini-programs” and serve as a central hub from which the everything else you do with the phone is accessed. Making another super app would effectively just be adding another unnecessary step to the process of doing what you want to do.
I think Elon accidentally put himself into a position where he needed to purchase Twitter (entering an agreement as a joke) and now he's just trying to do what he wants using Twitter's base instead of building a whole company from scratch (which he could have done at any time) because he needed to do something with the company he reluctantly bought.
That makes no sense at all, he is not the CEO of Twitter and he's building multiple technologies to achieve the Everything App...stop making nonsense up it's ridiculous. Wait for the app upgrades/products to be released then judge rather than mindless nonsense.
He has to pretend like it was all part of some plan and not the result of making a ludicrous bid based on a 'funny number' (5*4.20* per share), which was so above the odds on what the company was actually worth that the board legally had to accept as their first duty is towards their shareholders. You'd think for a 'business genius' he'd have been aware of that, it's literally business 101! This is the first time the world has been able to see how he runs a company without a group of handlers, as at Tesla and SpaceX, to stop him constantly doing reckless and stupid things and the results aren't pretty
@@Thinking858 You really are small minded, money has little meaning to Musk. Achieving his dream of the Everything App is another concern entirely. Because you are not worth 250billion you try to see from a view of loss because you can't comprehend the figures. He's buying the userbase and data which as with all Musk's companies long term become absolute giants. It's okay to understand some people are not in your level, insults are small minded and arbitrary.
I don't think it will, Twitter had a tiny user base, low trust, and a terrible ux. Not much has changed yet, so it would require some insane transformations for it to even stand a chance to survive as a social media platform.
they are one of the few who have survived for so long when many other have failed but the platform is seeing its biggest transformation yet. Ads revenue share just kicked off a big change
@@a-don13 "Ads revenue share just kicked off a big change" What does that even mean? As the clip reported, Twitter's ad revenues have cratered after Musk took it over, most probably due to his incompetent management.
@@weird-guy I'm Brazilian, and we are apparently the 3rd biggest user base, and I don't know many people who use Twitter often, apparently is less than 20 million people. To put into perspective, Instagram has more than 100 million people using it here.
Really fascinating how these super apps have their own mini-apps which are basically web apps. As well as the fact that these mini-app stores serve as people's main source of apps in China as they don't have access to the Google play store and (I assume?) the Apple app store. It reminds me how Steve Jobs originally wanted apps on the iPhone to only be web apps. Of course, that never happened, so it's kind of interesting to see a real life version of that "what if" scenario actually play out.
People can access Apple's App Store actually, and every Android manufactor has their own app store such as Huawei 's App Gallary and Xiaomi's Mi app store. However, since for the android market these stores are decentralized (it's like the wild west) it's difficult for the app developer to control the versions of apps. In fact I think people are using mini apps just because they don't want take time to download the real apps, let alone those (mostly android) apps always tend to have malicious behaviors without google's control (collecting your information, draining your battery, etc). That's why in the highend market of China Apple is taking the most market share.
It’s a huge missed opportunity for Apple. There’s a big difference in committed development and maintenance hours to develop a native app vs web app plugins under a platform. Progressive web apps could’ve bridged the gap on iOS between the performance and huge development time requiring native apps and simpler web apps that just need better integration with the OS APIs. The experience to develop PWA for iOS still sucks
@@markhaus a lot of companies opt not to move into China because if you do, China needs to be in control. Even stuff like mmos that branch into China basically have to have a separate server run by a Chinese company. That's usually OK for games [though some like Sky CotL have run into issues with Chinese historical rewriting making it hard to even design cosmetics] but most major companies aren't willing to risk IP, trade secrets, their inner workings in that sort of environment. Nintendo in particular has historically preferred to allow piracy in China than risk total control of their IPs abroad.
I wanna have an app within my app where I can open a super app to run a mini app with a script on the website that will run a java game launcher within an emulator to run my banking app
Personally, I'd rather have a handful of apps that each specialize in a certain task/function rather than a "SUPER" app that tries to do everything at once.
@@thewhitefalcon8539 Jack of all trades, master of none. Companies that tries to be everything to everyone are inevitably shown up by all the experts who can do everything better than they can. Would you trust medicine prescribed by your car’s mechanic, or let your doctor mess around with your car’s engine? 😏
@@thewhitefalcon8539 That isn’t a nessecary function for TH-cam to have though. Not every app needs to do everything. It does have a button to give the creator five dollars, or the company five dollars, but there isn’t a need for TH-cam to let me quickly send you 5 dollars. If I wanted to do that we’d have to go to a company which specializes in small, financial, personal transactions and do it there.
Yeah, gotta love Elon's strategy of firing a ton of programmers when the goal is to expand the application into a super app. There's a real genius move.
It's interesting to note that Jack Dorsey, co-founder and the former CEO of Twitter, established his own successful payment app, Block (previously known as Square). This achievement might reveal underlying wisdom and possibly a deliberate reason why Dorsey chose not to integrate a payment system into Twitter in the first place. Perhaps there's some unspoken insight into why this may not have been a good idea.
This is potentially a very profound idea that you’ve identified here, and I’m sorry to sully it by sharing the first thing that came to my mind: “Don’t sh¡t where you eat.”
@@deadfr0g People in west already dislike Facebook snooping on them. I am pretty confident to say that not many would want them to also know their finances.....
Twitter is anonymous accounts, that usually does not go well with finances... I think Facebook has bigger chance at becoming a payment app, and they already failed with Libra.
Elon…Promises truckloads, barely delivers a pinch. Also. Like someone pointed out, we already have a super app that can do everything...social media, payments, content and work. It's called a web browser.
@@Haraamcore13 Most plans are duds in engineering, I'm an engineer. His plans aren't duds, their ambitious, and quite often science just isn't there yet to meet the demands of some of his projects. Anyone in the engineering space can recognize his brilliance, iv heard him speak, he knows his shit. Before he bought twitter, twitter was spending more money on research and development then almost all of elon's companies spent combined.... And how many ground breaking scientific and engineering work was done by twitter with all this money? basically none, nothing came of it, twitter was the same app for a decade. Elon with less R&D money then twitter, managed to split it up across so many diffrent industries such as EV's, space travel, brain tech interfacing, artificial self driving and really just AI in general, and make ground breaking advancements in all of them. You don't do shit like that by having dud plans, if it was easy to throw shit at a wall until it stuck, everyone would be rich.
The super-app idea has been implemented in iran by the iranian government aswel. The close relations between iran and china's government is probably the reason. Most of the super-apps we have here are government supported and controlled apps where you can do lots of things in them. I think its been 3-5 years since we have these kinds of apps here. The only thing we dont have here is money transaction in chat apps because We dont use any iranian based chatting app because all are government spyware apps and have a lot of censoring. Majority of people still use telegram and whatsapp even though they've been blocked by the country. It has reached a point where every single person has at least 3 VPNs installed on their phone and after the protests of last year most major VPNs like nord, express, windscribe... Are completely blocked.
Google has the potential, chrome, search engine, payment processor, email, youtube, android os, pixel and chromebook, and a bunch of other services. It's not all in one package, but the ecosystem has similar utility. Especially with how many other websites and services have a sign in with google option.
I think there's potential for not-so-super apps, that would focus on integration in one specific industry each. For example the passenger transport app, memberships app, delivery app...
I will never understand why some people think this is a good idea.... It's like saying "I want to live under a monopoly that has complete control over what I see and do".
Correction, Grab is not a Singapore company. It's Malaysia but the operating HQ is in Singapore. The co-founders of Grab are all Malaysian and the CEO of Grab is one of the Tan Chong Motor Holdings Berhad founders grandson.
Thanks for the detailed video on payment challenges and current trend !!! One point - Paytm was not built on UPI. Paytm was just another wallet which needed refill. Infact they suffered the most with the rolling of UPI, but slowly recovered
Thanks. I came to the US 3 years ago from Vietnam, and I was surprised that they don't have a national app which includes every needed like payment, transportation, utilities, electricity ... I understand the reasoning. However, it's quite a waste of time to find "authentic" (which requires some research) for everything mentioned if you're not local, not to mention that each state has their own official app. Banking processing is also slower and prone to breach (I have had to replace card from one of the top bank a few times because my card info got stolen). Though, I understand the dilemma is real, besides the perks, capitalism has huge problem with monopoly and one person with their person opinion can have so much control. Elon can brilliant in many cases, but he can be the opposite in many. No one want someone who changed Twitter to X have control over my household, transportation and everything payment and activities. Yet, he is just one of them. So yes, lots of Asian countries have their own super app, but now I share the same fear the US people have toward big corp. so I cannot see one any time soon.
In Portugal, you can do it with atm system,homebanking and an app called mb way. We get a entity number,reference number and of course the value of the payments or if you are using the app you scan the QR code, you can charge your number,pay electricity,water bill, government payments like irs,road tax ect, transfer money is something like 40 operations you can do at the atm
The danger of monopoly is a capitalist problem? I guess you could say that China doesn't have a problem with monopolies because there isn't anything else. If a company has a large monopoly then there is danger that it will sway the government. But if the government has the monopoly, then there is the danger that it will abuse that power. Again, is there any question as to why the Chinese government wants a single application in which its citizens perform all transactions?
its mostly because poor republicans are to scared to learn new things and rich republicans enjoy keeping poor republicans poor and stupid so they keep putting them in power. Making life easier would then give their base more power which is the opposite of what they want because they want to hoard power and wealth.
So he kicked half of the Twitter employees and after that he want's to create a super-app on Twitter, I mean Twitter didn't even manage to fix the bot problem.
You're probably right about Elon's strategy. Come think of it, the whole Subscriber system where users get share of ad revenue, is just another way of getting the bank information of the larger content creators. So there's an incentive for these content creators also to generate content that could be purchased on Twitter, err, X.
In my country I doubt it will stick, the user base is too small and we use homebanking,atm and mb way (upi type of app), Brazil has pix that is also popular and off course India has upi
I guess he wishes for the app formerly know as twitter to become the new paypal, but I don't know if the userbase is really up for it. Just look at the move of blocking non-twitter users from seeing tweets. while it lasted reddit threads that usually were filled with twitter links were simply filled with mastodon links right until they reversed it. Fundamentally changing how your service works might backfire and could potentially alienate your userbase and lead them to look for alternatives.
1 - who wants to give xtwitter money? 2 - Trolls, bigots and nazis live on xtwitter, so who wants to do business with that? 3 - xTwitter is only losing more and more money as it shrinks. 4 - trolls, bigots and nazis creating content for other trolls, bigots and nazis doesn't make money. They can do that for free anywhere.
I think the biggest reason that super apps won't take off is that the market already have established players, and people just are not interested in moving to a new plattform. For payments, you have Paypal. For videos, you have TH-cam. For messages you have WhatsApp, messenger and snap. For pictures, you have Instagram, etc. In the east, these apps could take off because there were no Apps filling these niches. In the west, you would have to convince people to migrate from plattforms that they already are comfortable with to join a new ones, which is much, much harder.
In my country we just have one payment app supported by all the major banks which just embeds into all kinds of e-commerce and retail in the same way Apple would like you to use Apple Pay. I don't really see it being that more convenient to do all that in the app itself as opposed to clicking the big orange button, being swiped away for 5 seconds and then back again to the original app to have your payment completed.
In most of Europe a super app is kind of dead in the water, most banks have an app that can do everything that venmo etc can do as standard. Google pay plugs into most every app so any sort of consolidation is unnecessary, plus each language group is going to have a bevy of it's own apps servicing specific needs. I could see India having a super app if it's population were wealthier in general and maybe the US itself might, although I'm not at all familiar enough to be certain. I could only see a universal app working in the EU if it were an EU project, most in the EU have a healthy distrust of corporations trying to make themselves ubiquitous.
00:05 Super apps have thrived in some countries but failed in others 02:41 WeChat wallet became a dominant mobile wallet and started the super app age in China. 05:12 Western attempts at building a super app have failed 07:29 China has evolved a super app model where WeChat and Alipay act as centralized platforms for all phone brands in the country. 09:47 Elon Musk wants to focus on building a payments model for his app X. 12:09 Elon's plan is to growth hack payment options within the app and build a mobile wallet on top of that. 14:22 Creating a super app integrating payment features into Twitter is a questionable idea 16:40 Elon Musk's attempt to turn Twitter into a super app may not be the best strategy. Crafted by Merlin AI.
It would make much more sense if he would only accept „X“ payment for buying Teslas and Twitter things, paying Superchargers/Upgrades. And starting X as an extra Service as a competitor to PayPal like AliPay did by only allowing their payment.
forcing customers (or soon-to-be customers) to use a certain app for payments on a LARGE amount of money is a great way to get them to get out of the purchase in the first place
@@fennecfoxfanatic Doesn't worth the CAC. Many will just use X one time and never use it again. What would be the revenue model anyway??? Why would I pay 'X transaction fees' when there's other options for free.
I think people should stop taking Elon Musk so seriously. He is a marketing genius and has perfected the formula for creating hype around an idea or a product. He always completely overpromises in regard to his products and then underdelivers masterfully. In addition, a lot of his ideas are essentially scams (like Neuralink or Hyperloop which are just not capable to deliver on their promise - ever). I am also kinda sick of the way he names things. "X" is not a better name for a service than twitter, but he thinks its cool so he just does it.
Twitter is the perfect name for the social media platform that was. But... X did not emerge from the purchase of Twitter. Elon is simply finally wrapping a unified brand around his companies. He is building an ecosystem and not a bunch of money-making schemes... as is the case for every visionary deeply rooted in the most fundamental interpretation of existence - Natural Law (or as I like to call it Uncausedness). To understand his companies is to understand his worldview. A good practice to stay grounded is to consider that Elon is merely an individual. He is not powerful enough to do any of these things on his own. It is only by convincingly sharing his vision with enough powerful people that he can... especially this Twitter move.
10:00 - Incorrect, he had no clue what he was doing with confinity, the original X and Paypal. He budged his way into the CEO of Paypal and then was later removed from the board and Peter Thiel was put in charge. He had no experience running Paypal at all
I’m honestly very weary about the power a corporate company would have if a super app were to take over. With the popularity in Asia, I’m not surprised given the types of governments there but I just prefer a division of power among corporations who care about nothing but greed.
It's just another corporation trying to make money. Nobody has to use X since there's alternatives that can do what it does but better. For now at least.
Google doesn't have a proper competition and is arguably more powerful than Wechat over the Chinese populace than Google over the Globe. Yet no one bats an eye
Prediction: I think the next step of these super apps is to actually release their own mobile operating system. They have now build a kind of "platform on a platform" as these super apps still run on Android or IOS which in turn run their own apps within the context of that super app (hence: platform within a platform). So for the superapps to "mature" in some way, I think they will eventually just release their own OS. As people already spend the majority of their time on this super app when they use their phone, they will start to neglect the other features of Android and IOS and as such this would be a logical next step. The primary attraction of Android was its Google services, now the already established super apps services could potentially do the same for their own in-house OS's I presume.
The thing with super app is it feels like trying to be an operating system on operating system. If they will make an OS, the features will be like separate integrated apps like Window's Control Panel, Device Manager, etc.
@loopernagic4658 For the moment, yes but who knows what the future will bring? It's mainly the micro programs where I see the potential. For now they may be relatively basic compared to standalone apps but as their framework evolves it may become capable of mimicking an actual app experience and if it gets to that level, anything is possible really.
You severely underestimate the effort it takes to make a new mobile OS. The majority of attempts have been by forking Android, the only recent success (HarmonyOS) started AS a fork of Android, and the local non-Android OSes are either struggling in skunkware labs, pre-pre-pre-orealpha, or even more niche than Android forks.
I personally believe he chose to buy Twitter mostly for the data. as you said, it wasn’t for the users, employees or even the platform itself, but the data. That’s very valuable to succeed on the creation of a Super App.
@@solivares yes, but it would still be cheaper to be sued than to go forward with the purchase. That’s why I believe the date was his biggest motivation.
@@Maddog-xc2zv nah. It would be cheaper to be sued than to buy it if didn’t want to. He DID chose to buy it even though he got cold feet at some point.
Im a autistic middle schooler and my teacher told me i "could be like elon musk if i try hard enough" bro if this is elon musk then fuck it, im going homeless
So, a super-app is a program which can run smaller programs inside it ... sounds like it's just an operating system running on top of your existing operating system.
@@Lionel-zd8rb Yes, they both done it with tens of thousands of employees working over multiple year. Regulation and red tape in general might not stop you entirely, but it sure does burn your money.
Super apps are explicit monopolies which is very not the way to do things in the US. But big tech splits up apps to avoid the look of a monopoly in the digital space
Actually Elmo was fired from PayPal because of gross incompetence, if he had stayed he would have driven it into the ground. He only became rich because he didn’t sell his shares in the company until after he left and the adults running the show made it a success. Since then the majority of the companies he has started have been ultimately disasters that quietly disappeared once Elmo lost interest and the media stopped paying attention. Twitter will eventually disappear as well.
In Germany we already have a very popular payment method called "Bargeld". Basically all the stores, restaurants, event locations and even public toilets accept it. A lot of the people in our biggest demographic (45+) only use this method. So yeah, going from "Bar" (how we casually call it) to something probably called "x-pay"? No way!
Here in Wiesbaden, it is no longer possible to use Bar for ticket purchases on the Bus. You can still tickets at kiosks for cash, but it's only a matter of time before we are pushed to digital payments everywhere.
4:09 - the ± prefixed to a number in the graph is incorrectly used. The symbol denoting plus or minus is used to demonstrate the range between a fixed integer value. Thus the correct way to use ± is by finding how much it varies between the 2m mark (for the App Store) and post fix the range: 2m ±50k -> hence the figure is between 1,950,000 - 2,050,000.
So super apps are like web browsers essentially. One app (Chrome) where you have one account (Gmail) and can add mini apps (Web pages), so all your services are accessible in one place and (mostly) with the same credentials. You can sync it across devices.
My bet is that in order to get this thing off the ground he would need to pay other established businesses to go exclusive with his payment system, or pay users to onboard them. No one will care about yet another payment service otherwise. I would expect it to be a very expensive and risky project and with loads of competition out there to kill it off. I would be very surprised if he manages to get anywhere near what he is saying
Your overall assessment of Elon is so on the mark. Never count him out. But for a "smart" guy, he does some stupid sh*T. It cracks me up how EVERYONE still calls X, Twitter. If he can't get people to follow that lead, good luck with all the rest of it.
Instead of buying Twitter he could have just make a brand new app, he has the money to do so and fame to attract a lot of faithful followers(at least 5mil)
A super-app by the WeChat definition is nearly impossible in the United States considering the Apple App Store (the dominant operating system in the US) forces all apps within it to have everything approved. You cannot, by definition, create an app store within the App Store. Sure, sideloading-but most users aren't going to do that. Only power users will and that's not the market a super-app needs.
Interesting. You could say the Apple and Android app stores are already super-apps themselves. Pretty much all cash flow is going through them and their 30% cut. I dislike this model as I feel like it gives too much power and is completely incompetable against.
Google is a just a fragmented super app if you think about it. Chrome, youtube, search, payments, pixel phones, chromebook laptops . My highschool issues them to all students so we're all at least familiar with them, even if they're not popular otherwise. If you search all google products you'll see a list that only scrapes the surface
Love your analysis. I would request you to make a video on India's UPI and Aadhaar authentications for just about anything. We don't have to sign any documents nowadays for opening demat or bank accounts and many more.
Gonna be hard as hell for old Musky to make anything if he doesn't pay his rent on the buildings his company is lodged in. Or his server bills. Or if he loses the pile of lawsuits against him bc of his antics.
Model 3 is somewhat replicated in Polish SkyCash, you can pay for tickets (public transport, cinema), motorways, parking, insurance. The only thing missing is peer-to-peer money transfer which is handled by BLIK integrated in most Polish banking apps.
Elon failed!? But Hyperloop.....? The submarine to save kids trapped in an underwater cave in Thailand? Mars exploration? LVCC Loop? Solar Roof? Tesla Roadster?
Great content. I really enjoyed your hypothetical. It truly is a mind boggling amount of money to have spent on something he didn't seem to want in the first place.
He wanted to buy Twitter but not for that price, due to the many bots and not that many active users as they claimed. Twitter didn’t want to sell in the first place and than forced him to buy.
@@mhfs61 that's not true. He made a ridiculously over inflated bid based on a joke number (44 Billion is from 54.20 per share. get it? weed haha) and the board legally had to accept it on behalf of their shareholders, that's how it works in business. He then tried to back out of it multiple times, thought claiming 'but the bots!' would get him out of it, Delaware court said no deal, and the number of bots since he took over the platform has absolutely skyrocketed. I've been on twitter since 2009 and the user experience has never been worse. I don't even bother anymore
In addition to the absurd starting point, there's also an uphill battle because everyone who wants it probably has a payment app already. In Finland a Danish app is so ubiquitous that people are almost expected to just have it, and it's the default peer to peer option.
If I had to chose at gun point I would rather sell my data to meta than have it in the hands of Elon, but given I got a choice both can 🖕. Wonderful video as usual.
True. Elon shows zero values one would need for such trust. He criticised AI and asked for slowing it down for a while and next day we found out that he bought thounsands of graphics cards for AI; others should slow down so he has time to catch up. There are many examples that make me wish this stays his wet dream. These days I trust Zuck way more and that says a lot.
I think the super app in the US approach failed because of strong desire of privacy. you don't want facebook to know what you order, what you eating, where your going. who you dated, etc. etc.
Yeah, the 'everything app' just being another way of saying 'operating system' is something that had occurred to me as well. And I'm actually kinda surprised China didn't have a rip off playstore that came preloaded to serve that role.
Paytm is not even the dominant application in it's core payments space, being a distant third in UPI transactions at 13% in Jul 2023, compared to 35% of google pay and 47% of phonepe, the latter two also have a lot of the same features as paytm and even the whole instant apps stuff. Paytm still has things like an ecommerce store and its own bank unlike its competitors but with the applications of many traditional banks also going down the same route and there ecommerce platform isn't that big either.
So, lets say you have a super app and there's a data breach. I don't get information about a person for one thing--i get it for ALL the things. If you have a chatting app and its somehow also a video app like youtube, a banking app connected to your actual bank, and a grocery app, you could get: --data about a person's tastes, political leanings and personal beliefs based on their videos --data about their purchasing history, the foods they like and dislike, the things they've bought irregularly meaning those are special purchases --financial account information --their social circle, who's their friends, who they talk to most, what pictures or videos they send each other etc etc. And fromt his, you could extrapolate an insane amount of things about a person, to the point where any idea of privacy is rendered null. Now, this could still happen with a bunch of decentralized apps for many different reasons, but the idea that theres a single company that has all this data is just too much.
@@joser1853 "Oh no, scary facts that don't match my worldview. quick! insult that person and thoroughly erase those facts from my brain, lest i learn something new accidentally"
Correction: Super apps are a thing in india but they don't work like they do in china or SE Asia. People don't use them as "super apps" but for only singular uses
It makes very little difference. You're still using it, and that's what Musk will care about - that everyone uses his services even if individuals only use one of them. Other individuals will use them for more than one use case. It's like Apple. Most people only use the iPhone. Others use iPads, Macs, Apple Music, Apple TV+ etc. It's all about ecosystems
@@franklingoodwinnah in india paytm is just another UPI app and those super app features are just bloat make app super laggy and unstable they should remove it and make something minimal like us cashapp
@@franklingoodwinwell frankly speaking i dont think elon's 'X' will be hit in india cuz we already have Paytm and Phonpe app doing those things way way better and second 'X' is foreign company for us
Very good and balanced analysis. I think the only chance X ever has to succeed is Elon’s persona, and some ground-breaking feature that no one else has access to - which is hard to imagine in this day and age, but who knows. The bigger issue I see is the idea of super app itself. I don’t mind having more features bundled in a single app, but I truly HATE apps that are not native mobile apps, just glorified web browsers displaying a generic web page in the background. They are always slow, unintuitive, and don’t have access to some of the convenience features that the platform offers and users take for granted. At least that’s often the case on iOS, which I assume doesn’t allow easy access to all features to external web pages, or it’s hard to implement them outside of a native app built from scratch… not sure about Android, could be different due to its lenient approach to security.
A "super-app" sounds like a failed marketing term for AOL. I don't think most consumers really want a "curated" experience, "one-size-fits-all" is not a product strategy bound to work in a market full of consumers who historically crave and embrace new choices. MElon is not near as intelligent as his marketing. For example, the idea of using "X" as a name for anything in 2023, is such an anachronism. I'm surprised He didn't use "The Smoking Man" as a logo, nothing's as fresh as the X-Files if your ideas haven't matured in the last 25 years. Not many are going to be willing to have all their sensitive data in one place as there seems to be little consequence for corporations who skimp on security.
While many of us are used to having our usage data sold, but the idea of a company holding onto such important info as bank info and id?? Especially a social media company??? No way
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As a Chinese myself, been using WeChat since 2012 . It's just a chat app.
Other apps are not WeChat .
They are third-party apps that can be accessed inside WeChat but they're not WeChat
It makes sense, Musk has experience in a Google Maps like app and payment Systems like PayPal. He just bought twitter for the brand and the userbase and the fact that there was no real competition for twitter (no where to run) because twitter was so unprofitable.
Elon dreaming and ignoring the reality and people believe in him.
And then watch the latest WSJ investigations and videos about the car crash when the famous autopilot fsd crashed into a standing police car on the highway with a sleeping driver.
Tesla rejects any further informations while the videos and anlysis showed how crazy stupid Elons idea is in 2023 announced to be operational in 2020.
And this will not be the last incident and situation his AI is stupid based on human judgement cause a human, that is not drunk or sleeping, would have instantly stopped if he sees a flashing police car. What else do you need to raise the attention - unless you are Elons AI and drive like a drunk into the police car injuring 5 who are now going to court.
Strange , that victims of Elons crap have to go to court and his famous Tesla brand is not going forward to excuse for all the hurts caused by tesla.
Of cause not, tesla is innoncent if things go wrong, it was the drivers fault. Really, in a world of AI learning the whole Tesla fleet has seen a standing and flashing police car for the very first time ?
Then it might be time to stop such adventures on publich roads and stop the whole Tesla autopilot due to missing abilities and proofs that it is not ripe or ready for public streats.
They do not pay, they do not take care, they take foreigners life as their commodity, can even kill others and will blame the car owner.
He is a constant lier, he has gotten beaten by the tiny car manufacturer he had laughed about that this would not be a competition in 2014 even though Warren Buffet had invested 800 million $. Now BYD is market leader in the world and making even more profits and has a higher growth rate than Elons Teslas. At least BYD is honest and is not talking about autopilot or fsd, but features they have implemented and that are working.
Twitter is dead since Elon arrived and now with the lower advertiser revenues he has to find new ways to raise the value of the company which otherwise would be dead.
Now X becomes a warehous, from everything a bit to make profits without ad growth needed instead of being the expert of 135 letters like in the past.
If 40 million users each get 3 friends to join, that's 160 million users 😁
With the blocking of news on Facebook and Google in Canada in response to federal legislation, might this not be an opportunity for Musk and X to embrace the Canadian model and make a buck off of it? Twitter is already a platform people use for sharing news articles and engaging other users regarding the topic of the shared articles. People don't want to dish out multiple tens of dollars for news subscription but X could act like a cable company offering a package to be accessed through its platform with articles being shared with other users and discussion started within the platform.
You can have a super app work nicely in a single very large country, but a super app in the west would have to take into account the different services, providers etc in each country. This would make it very complex and probably unusable in many countries. Nobody would bother.
I think innovators changes I'll entire heads around technology and what's possible. Who would've thought we would have mobile computers in the size of I'll palm while connected to the interwebs.
@@riverjustice not every country tolerates monopolies. wechat only works because it's de facto owned by the chinese government.
With the right API and enough incentive like a marketplace for services with comission you could thrust the use. Why bother with paypal when you have Credit Cards ?
Exactly. It may work in the US like how iMessage dominates but it doesn't anywhere else.
@@riverjustice Even if that's true, Elon Musk isn't an innovator he's a loser.
Isn't relying on one service to do EVERYTHING kinda scary? Now one company holds ALL the data. Who in their right mind would use such a service?
Agreed, however, with one caveat, “as long as you have a choice”. Luckily we do but am not so sure about China.
Billions have already agreed to have Facebook or Google house all their data... they track and record EVERYTHING
Google exists
That's literally the main reason WeChat exists, as a central point for the CCP to spy on its users
@@upampatra33
You can use Apple
One of the main issues here is that the userbase of Twitter is just abysmal compared to those super apps. Wechat already was running on literally everybody's phone when they added these features, while Twitter barely has active users, it's just a 'shouty app' for a marginally small amount of people worldwide. The value here was that there were verified users (famous people, organisations, even govt offices) who could post updates in real time and publicly. Now this is basically collapsing with the new and broken blue system, so all that is left is a shouty app for a few angry users, and i for one definitely would not want to do any financial stuff on such a platform.
I always saw Twitter as a stock app. It's value was 100% in it's name.
I laughed my ass off when Elon changed it's value to nothing just by changing the name.
Yeah, Twitter is tiny. Its user count is barely larger than Pinterest. Yet to the people who live on it like Elon, it's their entire world. I guess that's why he decided to forgo doing due diligence before signing the papers to buy the company.
Nepo babies are in constant fear of being found out to be the frauds that they are. Elon is no exception, and we all see it.
we chat was installed on those phones by government demand / law / policy
its not "popular"....its forced
that's not true, wechat was a very popular chat app in the early '10s already, much like imessage in the US, if you didn't have it, you missed out on social life with friends@@kazzxtrismus
It's already lost. The first thing a payments app needs is to be trusted, and his bad calls have destroyed all the trust people had on Twitter. It won't get anywhere.
Anyone who ever trusted twitter is a twit. Elon has improved some of it, but he's like polishing a turd.
(And changing the name to Z was the worst marketing of all time. Proper nouns cannot only be one letter.)
so true
Twitter is the app most trusted by Nazis and there are a lot of those. If Musk made Nazipay it would be very successful.
Within the first couple months of him buying the site, I unlinked my Twitter from everything else I cared about because of security concerns caused by his firing everybody with any competence.
He also just has a long history of lies and broken promises. He's been saying Tesla's full self driving has been "ready" for how many years now? And it's pretty evident that Tesla is actually at the back of the pack for that tech.
@@WobblyBits_X Name one specific example of a "security concern" that was caused by Elon firing all the corrupt woketard losers, or "everybody with any competence" as you dishonestly mis-label them.
Elon has his faults, but firing all the vile toxic idealogues from Twitter was not one of them. It would be better to have no internet at all than the pre-Elon twitter. You're just angry that the Twitter "fact-checkers" are no longer corrupt enough to promote your most extreme far-left position every single time.
The key thing Elon is missing here is that for a super app to work you need trust. And judging by the mass-layoffs and childish behaviour, people have lost a lot of it in regards to twitter
And also crazy political claims on Trump, Putin, China and so on. For most of the people I know, including me, we totally lost trust on him because of that.
@@corvomicheleEven semi-conservative normies i know think that guy is an idiot.
you use amazon because you trust jeff bezos? if some seller on amazon scams you, will you say oh I trust jeff he automatically give my money back, If yes then I trust Elon!
yes, completely lose respect, the guy is a big man-child, and not in a good way.
he shown us again and again, when he was defeated instead of owning his mistake like a man
, he would resort to insult, bully, making a meme out of them.
not to mention people still remember his financial scam till this day
He made a rocket and called it a success if we ignore that it exploded mid air. That gives me 0 confidence.
A super-app sounds like a massive privacy nightmare. We already have plenty of those, thanks.
These super apps seem like a way to keep an eye on everyone easier
Yeah but honestly for the user its super convinient.
@@MiniKodjoYeah everyone uses either apple or Google accounts, and we all know Google listens to your microphone, tracks you, sells your into, they do all that without being a convenient super app lmao
Every feature is a new point of vulnerability and it's the CEOs not the code monkeys pushing these lifestyle apps for a reason.
I LOVE the idea, I HATE the implementation. The most famous superapps I know are WeChat and Weibo, both of which are fruit of China's intranet. On purpose or not, they are THE most important tools used by the CCP.
The fact that the few times a "superapp" tried to get here were by the hands of questionable companies or people (Mark, Elon and Jeff), I know very well about their intentions: information monopoly!
It kinda hurts that standing in the autism spectrum means that unifying things in a single site/app helps management a lot, but I'd rather deal with it than risk massive breeches in privacy LMAO
In Brazil, the Central Bank created a payment protocol named PIX to handle digital transactions between person-to-person or person-to-business. The transactions generally take seconds to complete and it's widely adopted by banks and business here. Any digital payments that are not credit card based and don't use PIX are destined to fail here. WhatsApp, for instance, is insanely popular in Brazil, but no one uses it to transfer money because they don't use the PIX protocol (since they're not a bank with local representation). I imagine that a lot of other countries have some distinct local financial behavior, and I think Twitter/X will not be able to localize their solutions.
Exact reason why whatsapp payments failed in India, because it didn't initially (yet?) use UPI, like PayTM did.
ADD: On the other hand Google Pay was one of the early adopters of UPI so it prospered in India. So it's possible, but I'd argue that Twitter doesn't have anywhere as big reach as Google. In the end this might be what makes or breaks X's dream of global payment mega app.
Aqui na Alemanha as pessoas não gostam nem de pagar com cartão de débito, preferem ir ao caixa eletrônico sacar dinheiro para comprar as coisas. Imagina se alguém iria usar um único APP para pagar contas, fazer compras e concentrar toda a vida ali dentro.
@@fraufuchs9555Moçambique é a mesma coisa. Apesar da plataforma m-Pesa dominar o mercado das transacções. Ele funciona com base no teu número de telemóvel, não precisas ter nenhuma conta bancária para usar. Então é super fácil e inclusiva de usar.
@@pia31415 Whatsapp Pay works on UPI. But now when every person already has multiple UPI apps on their phone, no one is particularly interested in registering for Whatsapp UPI.
I think part of the problem any App is going to face is that it's not enough to be new and frictionless anymore. You have to be exceptionally more friction less than pre-existing options. Things like Pay Pal took off because, well, they were basically the only option to make online commerce easy. And for that same reason, a simple pay pal clone would not displace them. A lot of modern platforms are trying to provide a slightly better version of something that already exists. And there's not really a huge gap between hitting one button to send money in App A and hitting the tile on my homescreen to send money with App B.
Especially because a lot of Apps these days are simple interoperable. Why do I need an everything app when I can instantly share a photo on instagram, discord, facebook messenger, or a phone chat with exactly the same ease. And I use each of those services for entirely different things.
I kind of think the reason modern apps are so successful is because they do one thing. The early internet in the West has websites that tried to do everything at the time but didn’t do tasks well.
Facebook is a terrible thing to use because it tries to be a messenger, a social media site, a video platform, a shopping site, a transfer app and whatever else it is. The Super app only work in china because the government can just make people use it and they have no choice
I absolutely hate the "one app, one function" thing. Now instead of going to a website, I have to download each service's app? Each airline, shop, utility, restaurant, messaging service all have different apps I have to download and setup each time? Recently I paid for an online purchase through Shop, and it told me I had to download their app to track my shipment? Mate, all I want is the UPS tracking code. Waste of time and space.
10 apps doing each their thing is very different from 10 apps being integrated into one system. The integration into one system has potential to increase the quality and quantity of use cases like exponentially. That's why you can do things with Chinese super apps that you can't even dream of doing with 1000 separate apps on your phone. Anyway, the conditions for building super apps in the West are not the same as in China. The super app is actually not just the software or some server farms behind it. The super app is actually the whole infrastructure behind it, that has to work seamlessly together. Infrastructure such as rails, roads, smart cities, highspeed mobile networks everywhere, a vibrant economy with small and big services everywhere, cybersecurity, institutions for users to file complaints online and get justice near immediately if a company does shady stuff with their data, even the law plays a big role here and has to be constantly adjusted according to the Users needs. China has all of this. I've witnessed it and used it during my stays. The Chinese super app's level of comfort, safety, efficiency, near infinite choices is unreachable by the west. Mabye one has to experience it themself to understand how much more powerful a super app is compared to it's sum of isolated parts.
I think there's potential for not-so-super apps, that would focus on integration in one specific industry each. For example the passenger transport app, memberships app, delivery app...
@@guydreamr That's a weird thing to be offended by. Are you first day on the internet? How's this person supposed to know what it wrote in another comment?
In order to make a super app feasable, you not only need to develop it first, but you also need to get over the legal challenges too. Something that in the western world just won't fly by.
Hey Elon...the EU is on the phone..
If elon wanted to succeed, he should've just kept it as twitter and downplayed his involvement while introducing new features until you can do pretty much anything on it
But that wouldn’t give him any opportunities to stroke his ego
@@Gloomdrake true
Tesla and his Space companies succeed not because of his actions but because he has brilliant people working for him who let these companies succeed despite Musk's actions.
And taking advantage of government subsidies@@Suksass
really he has two separate goals for Twitter. one is turn it into a super app and the other is to turn it into a free speech thunderdome for far-right extremists.
the second goal of catering to far right extremists seems to be the goal which is much more important to elan. it's pretty easy to tell where he's putting all his energy.
At least in the Netherlands, you don't really need an extra app for payments because there are interoperable standards that all banks use. It's also why things like Paypal and even the concept of credit cards aren't that big here; you just hardly ever need it. And nobody outside of China needs an app that pretends to be an OS because we already have those. I also think that people in more established markets tend to be a bit more wary of the concept, regardless of who runs it.
I'd never trust any US company with my wallet! US is one of the worst countries in the world when it comes to money because the country runs on greed.
UPI said hi
This
Exactly same with Indonesian QRIS, which most of banking and payment apps implement and can even be used in other Southeast Asian countries.
Portugal is identical, we have a arm system that is a network between all banks paid by advertising on the arm itself, also you can do a lot of stuff on the atm, even renewing a hunting license for example.
And the same network that created that have an app that allows to send money to any person using they mobile number free of charge and it's is received the same second is sent. Also allows to pay using the phone camera or take money in a atm without a physical card.
Now it even allowes to request a receipt with you fiscal number to ever payment made with the camera, without needing to ask the seller an wait for him to enter your number on the pos...
Twitter barely functions as Twitter as-is, if he really expects it to become as big and as comprehensive as WeChat he’s living in a fantasy, but that was hardly hard to believe.
Twitter/X is doing fine wdym?
@@Gabzilla19 So many basic features are broken it's almost funny... You can't even scroll up to view the previous tweets in a thread...
@@bryanleebmy Twitter is broken, can't even search half the time. Only see old tweets unless u scroll for like 10 times. Have a permanent prompt on DMs saying messages not available at the moment.
@@Gabzilla19 Oh, like how the site is completely busted if you’re not logged in and doesn’t show posts past a few months ago? Or how he caused the site to DDoS itself through poorly thought out ways of enforcing a “tweet view quota”? Shit man, did they ever fix text based 2FA being offline, locking people out of their accounts? Because of micro services HE EXPLICITLY mentioned taking offline? The site continues to make browsers freeE randomly, too.
He's just trying to get more investor money. The problem is that it is now a lot harder to come by than it used to be.
Yeah, Elon says a lot, and delivers like 5 % at best.
That's still way too much, i am indonesian and gojek IS everywhere and it's only 2% gdp
More like 0.05%. Remember the so-called "revolutionary transportation idea" of Elon which was the Hyperloop? Millions of taxpayer dollars was sunk into after Elon convinced an entire city to invest in the Hyperloop project over actual public transport system and over the years nothing came out of it.
But then, Tesla & SpaceX should be his successful babies. & These only count as 5%??? Let’s be a bit fair to him.😂😂
@@locacharliewongHe didn't even found Tesla.
@@locacharliewongTesla has only had like 1 or 2 profitable years, and now other brands are set to eat a lot of Tesla's shares on the EV market, as their de facto monopoly comes to an end.
What happened to autonomous drivning? Tesla Semi?
Starlink seems to be the only SpaceX projects not go up in flames...
The US already effectively has has 2 super-apps. iOS and Android OS. They provide access to tons of downloadable “mini-programs” and serve as a central hub from which the everything else you do with the phone is accessed. Making another super app would effectively just be adding another unnecessary step to the process of doing what you want to do.
@yyattt Yeah because nobody uses windows phones. Not even Bill Gates himself uses one and he founded the goddamn company that makes them.
I think Elon accidentally put himself into a position where he needed to purchase Twitter (entering an agreement as a joke) and now he's just trying to do what he wants using Twitter's base instead of building a whole company from scratch (which he could have done at any time) because he needed to do something with the company he reluctantly bought.
That makes no sense at all, he is not the CEO of Twitter and he's building multiple technologies to achieve the Everything App...stop making nonsense up it's ridiculous. Wait for the app upgrades/products to be released then judge rather than mindless nonsense.
He has to pretend like it was all part of some plan and not the result of making a ludicrous bid based on a 'funny number' (5*4.20* per share), which was so above the odds on what the company was actually worth that the board legally had to accept as their first duty is towards their shareholders. You'd think for a 'business genius' he'd have been aware of that, it's literally business 101! This is the first time the world has been able to see how he runs a company without a group of handlers, as at Tesla and SpaceX, to stop him constantly doing reckless and stupid things and the results aren't pretty
That's the price you pay for being Mr Cool with a big mouth... That's one screw up that costed him $30 Billion loss. 🤦♀️
@@Thinking858 You really are small minded, money has little meaning to Musk. Achieving his dream of the Everything App is another concern entirely. Because you are not worth 250billion you try to see from a view of loss because you can't comprehend the figures. He's buying the userbase and data which as with all Musk's companies long term become absolute giants. It's okay to understand some people are not in your level, insults are small minded and arbitrary.
@@Lee-fc3yfMusk isn't gonna shag you, pal
I don't think it will, Twitter had a tiny user base, low trust, and a terrible ux. Not much has changed yet, so it would require some insane transformations for it to even stand a chance to survive as a social media platform.
they are one of the few who have survived for so long when many other have failed but the platform is seeing its biggest transformation yet. Ads revenue share just kicked off a big change
@@a-don13 "Ads revenue share just kicked off a big change" What does that even mean? As the clip reported, Twitter's ad revenues have cratered after Musk took it over, most probably due to his incompetent management.
@@weird-guy I'm Brazilian, and we are apparently the 3rd biggest user base, and I don't know many people who use Twitter often, apparently is less than 20 million people.
To put into perspective, Instagram has more than 100 million people using it here.
@@w花b they're hiring
@@a-don13how many best-of-the-best would agree to work in this company now?
Really fascinating how these super apps have their own mini-apps which are basically web apps. As well as the fact that these mini-app stores serve as people's main source of apps in China as they don't have access to the Google play store and (I assume?) the Apple app store. It reminds me how Steve Jobs originally wanted apps on the iPhone to only be web apps. Of course, that never happened, so it's kind of interesting to see a real life version of that "what if" scenario actually play out.
People can access Apple's App Store actually, and every Android manufactor has their own app store such as Huawei 's App Gallary and Xiaomi's Mi app store. However, since for the android market these stores are decentralized (it's like the wild west) it's difficult for the app developer to control the versions of apps. In fact I think people are using mini apps just because they don't want take time to download the real apps, let alone those (mostly android) apps always tend to have malicious behaviors without google's control (collecting your information, draining your battery, etc). That's why in the highend market of China Apple is taking the most market share.
It’s a huge missed opportunity for Apple. There’s a big difference in committed development and maintenance hours to develop a native app vs web app plugins under a platform. Progressive web apps could’ve bridged the gap on iOS between the performance and huge development time requiring native apps and simpler web apps that just need better integration with the OS APIs. The experience to develop PWA for iOS still sucks
Jobs wanted them to be web apps so you couldn't install anything without paying apple for it.
@@markhaus a lot of companies opt not to move into China because if you do, China needs to be in control.
Even stuff like mmos that branch into China basically have to have a separate server run by a Chinese company.
That's usually OK for games [though some like Sky CotL have run into issues with Chinese historical rewriting making it hard to even design cosmetics] but most major companies aren't willing to risk IP, trade secrets, their inner workings in that sort of environment.
Nintendo in particular has historically preferred to allow piracy in China than risk total control of their IPs abroad.
The funny thing nobody mentions or realizes is, that we already have these Super-Apps. They're called AppStores.
I wanna have an app within my app where I can open a super app to run a mini app with a script on the website that will run a java game launcher within an emulator to run my banking app
App-ception
Personally, I'd rather have a handful of apps that each specialize in a certain task/function rather than a "SUPER" app that tries to do everything at once.
You think you would, but you're wrong. If you wanted to give me $5 and there was a button under my comment to give me $5, you'd press it.
@@thewhitefalcon8539 Jack of all trades, master of none. Companies that tries to be everything to everyone are inevitably shown up by all the experts who can do everything better than they can. Would you trust medicine prescribed by your car’s mechanic, or let your doctor mess around with your car’s engine? 😏
That’s called a transaction??? Almost every app has that?
Unless you are proposing we have a TH-cam bank I cannot tell what you’re point is
@@Skywarslord No, not every app has that. Where is the button next to this comment that gives me $5 when you click on it?
@@thewhitefalcon8539 That isn’t a nessecary function for TH-cam to have though. Not every app needs to do everything. It does have a button to give the creator five dollars, or the company five dollars, but there isn’t a need for TH-cam to let me quickly send you 5 dollars. If I wanted to do that we’d have to go to a company which specializes in small, financial, personal transactions and do it there.
Building a payment app based on the most toxic platform that bans critical users seems like a solid strategy. #GoElon
Ha ha, well said! ☺
I hope he ruins Tik Tok next. Two platforms we don't need.
Yeah, gotta love Elon's strategy of firing a ton of programmers when the goal is to expand the application into a super app. There's a real genius move.
It's interesting to note that Jack Dorsey, co-founder and the former CEO of Twitter, established his own successful payment app, Block (previously known as Square). This achievement might reveal underlying wisdom and possibly a deliberate reason why Dorsey chose not to integrate a payment system into Twitter in the first place. Perhaps there's some unspoken insight into why this may not have been a good idea.
This is potentially a very profound idea that you’ve identified here, and I’m sorry to sully it by sharing the first thing that came to my mind: “Don’t sh¡t where you eat.”
@@deadfr0g People in west already dislike Facebook snooping on them. I am pretty confident to say that not many would want them to also know their finances.....
Twitter is anonymous accounts, that usually does not go well with finances...
I think Facebook has bigger chance at becoming a payment app, and they already failed with Libra.
That's a great name for a payment app.
"Can you send me that $50?" "I'm Blocking you."
He's not the former founder of twitter. He is still the founder of twitter. Just not a part of it anymore
Elon…Promises truckloads, barely delivers a pinch.
Also. Like someone pointed out, we already have a super app that can do everything...social media, payments, content and work. It's called a web browser.
Just like any other millionaire
For a guy who promises electric vehicles, he sure is filled of hot gas
He’s usually pretty off on his timing, but for the most part he delivers. Dude runs 5 companies and gets 6 hours of sleep a night, give him a break.
@@ysomadbeats if you do any reading you will find almost all his plans are duds. Like the stupid hyperloop.
@@Haraamcore13 Most plans are duds in engineering, I'm an engineer. His plans aren't duds, their ambitious, and quite often science just isn't there yet to meet the demands of some of his projects.
Anyone in the engineering space can recognize his brilliance, iv heard him speak, he knows his shit.
Before he bought twitter, twitter was spending more money on research and development then almost all of elon's companies spent combined.... And how many ground breaking scientific and engineering work was done by twitter with all this money? basically none, nothing came of it, twitter was the same app for a decade. Elon with less R&D money then twitter, managed to split it up across so many diffrent industries such as EV's, space travel, brain tech interfacing, artificial self driving and really just AI in general, and make ground breaking advancements in all of them. You don't do shit like that by having dud plans, if it was easy to throw shit at a wall until it stuck, everyone would be rich.
The super-app idea has been implemented in iran by the iranian government aswel. The close relations between iran and china's government is probably the reason. Most of the super-apps we have here are government supported and controlled apps where you can do lots of things in them. I think its been 3-5 years since we have these kinds of apps here.
The only thing we dont have here is money transaction in chat apps because We dont use any iranian based chatting app because all are government spyware apps and have a lot of censoring. Majority of people still use telegram and whatsapp even though they've been blocked by the country. It has reached a point where every single person has at least 3 VPNs installed on their phone and after the protests of last year most major VPNs like nord, express, windscribe... Are completely blocked.
Imo google is basically our version of a super app
get mate what VPNs work now ?
@@weird-guyGoogle pay, Google doc, Google map, Google mail
Google has the potential, chrome, search engine, payment processor, email, youtube, android os, pixel and chromebook, and a bunch of other services. It's not all in one package, but the ecosystem has similar utility. Especially with how many other websites and services have a sign in with google option.
I think there's potential for not-so-super apps, that would focus on integration in one specific industry each. For example the passenger transport app, memberships app, delivery app...
I will never understand why some people think this is a good idea....
It's like saying "I want to live under a monopoly that has complete control over what I see and do".
_"I don't want gas or petrol as power sources. Put all our eggs in one basket please! Electricity only!"_
Users don't think it's a good idea. Shareholders think it is, and they force users to listen.
Giving that much power to a single corporation is basically asking for a dystopian corporatocracy (Believe me, thats the last thing we want.)
@@robotnoir5299L
If you wish to avoid the corporate dystopia, join a communist party becase that is the only possible outcome under capitalism.
Who in his right mind trusts Elon with his money? I surely don’t.
Never
@@VincentKarabouladMusiqueyou're simping too hard
PayPal?
@@RawDealCoyou too jealous, stop hating
That's why you're broke and miserable
Correction, Grab is not a Singapore company. It's Malaysia but the operating HQ is in Singapore. The co-founders of Grab are all Malaysian and the CEO of Grab is one of the Tan Chong Motor Holdings Berhad founders grandson.
I'm still surprised SnapChat is still a thing. I thought it died!
From my experience there's a lot of teenagers using it religiously in the UK, my brother basically lives on it
@@FarmYardGamingindia too
It's a thing in The Uk
Sweden too
I just think the fact that certain apps are already entrenched makes a super app a hard sell.
Thanks for the detailed video on payment challenges and current trend !!!
One point - Paytm was not built on UPI. Paytm was just another wallet which needed refill. Infact they suffered the most with the rolling of UPI, but slowly recovered
Thanks. I came to the US 3 years ago from Vietnam, and I was surprised that they don't have a national app which includes every needed like payment, transportation, utilities, electricity ... I understand the reasoning. However, it's quite a waste of time to find "authentic" (which requires some research) for everything mentioned if you're not local, not to mention that each state has their own official app. Banking processing is also slower and prone to breach (I have had to replace card from one of the top bank a few times because my card info got stolen). Though, I understand the dilemma is real, besides the perks, capitalism has huge problem with monopoly and one person with their person opinion can have so much control. Elon can brilliant in many cases, but he can be the opposite in many. No one want someone who changed Twitter to X have control over my household, transportation and everything payment and activities. Yet, he is just one of them. So yes, lots of Asian countries have their own super app, but now I share the same fear the US people have toward big corp. so I cannot see one any time soon.
In Portugal, you can do it with atm system,homebanking and an app called mb way.
We get a entity number,reference number and of course the value of the payments or if you are using the app you scan the QR code, you can charge your number,pay electricity,water bill, government payments like irs,road tax ect, transfer money is something like 40 operations you can do at the atm
Yup really well said.
Each country having a super app is a great idea imo
The danger of monopoly is a capitalist problem? I guess you could say that China doesn't have a problem with monopolies because there isn't anything else.
If a company has a large monopoly then there is danger that it will sway the government. But if the government has the monopoly, then there is the danger that it will abuse that power. Again, is there any question as to why the Chinese government wants a single application in which its citizens perform all transactions?
its mostly because poor republicans are to scared to learn new things and rich republicans enjoy keeping poor republicans poor and stupid so they keep putting them in power. Making life easier would then give their base more power which is the opposite of what they want because they want to hoard power and wealth.
So he kicked half of the Twitter employees and after that he want's to create a super-app on Twitter, I mean Twitter didn't even manage to fix the bot problem.
Oh come on dude, most of those people were useless, try making at least a moderately good point.
And what do you do?
@brandonporter550 Wow you again that’s embarrassing
He never fixed the shitty moderation problem or the unfair allocation of verifications either.
Have u seen half of those employees?
You're probably right about Elon's strategy. Come think of it, the whole Subscriber system where users get share of ad revenue, is just another way of getting the bank information of the larger content creators. So there's an incentive for these content creators also to generate content that could be purchased on Twitter, err, X.
X will become a bank
And these users who are earning ad revenue will stop their money inside twitter and use it direct for payment to services
Sounds more like "X" is becoming the new OnlyF*ns rather than the new paypal lol
In my country I doubt it will stick, the user base is too small and we use homebanking,atm and mb way (upi type of app), Brazil has pix that is also popular and off course India has upi
I guess he wishes for the app formerly know as twitter to become the new paypal, but I don't know if the userbase is really up for it. Just look at the move of blocking non-twitter users from seeing tweets. while it lasted reddit threads that usually were filled with twitter links were simply filled with mastodon links right until they reversed it. Fundamentally changing how your service works might backfire and could potentially alienate your userbase and lead them to look for alternatives.
1 - who wants to give xtwitter money?
2 - Trolls, bigots and nazis live on xtwitter, so who wants to do business with that?
3 - xTwitter is only losing more and more money as it shrinks.
4 - trolls, bigots and nazis creating content for other trolls, bigots and nazis doesn't make money. They can do that for free anywhere.
he explains things better than most big creators
I think the biggest reason that super apps won't take off is that the market already have established players, and people just are not interested in moving to a new plattform.
For payments, you have Paypal. For videos, you have TH-cam. For messages you have WhatsApp, messenger and snap. For pictures, you have Instagram, etc.
In the east, these apps could take off because there were no Apps filling these niches. In the west, you would have to convince people to migrate from plattforms that they already are comfortable with to join a new ones, which is much, much harder.
Even in india, WhatsApp has UPI but no one really uses that
Why in tarnation would someone use Twitter/X as a payment thing when Revolut and other options already exist?
Marketing tars marketing, oppo ceo has said it marketing can change anything!
One potential niche is low to zero payment fees. Those apps are very expensive compared to even third-world payment network.
In my country we just have one payment app supported by all the major banks which just embeds into all kinds of e-commerce and retail in the same way Apple would like you to use Apple Pay. I don't really see it being that more convenient to do all that in the app itself as opposed to clicking the big orange button, being swiped away for 5 seconds and then back again to the original app to have your payment completed.
In most of Europe a super app is kind of dead in the water, most banks have an app that can do everything that venmo etc can do as standard.
Google pay plugs into most every app so any sort of consolidation is unnecessary, plus each language group is going to have a bevy of it's own apps servicing specific needs.
I could see India having a super app if it's population were wealthier in general and maybe the US itself might, although I'm not at all familiar enough to be certain.
I could only see a universal app working in the EU if it were an EU project, most in the EU have a healthy distrust of corporations trying to make themselves ubiquitous.
00:05 Super apps have thrived in some countries but failed in others
02:41 WeChat wallet became a dominant mobile wallet and started the super app age in China.
05:12 Western attempts at building a super app have failed
07:29 China has evolved a super app model where WeChat and Alipay act as centralized platforms for all phone brands in the country.
09:47 Elon Musk wants to focus on building a payments model for his app X.
12:09 Elon's plan is to growth hack payment options within the app and build a mobile wallet on top of that.
14:22 Creating a super app integrating payment features into Twitter is a questionable idea
16:40 Elon Musk's attempt to turn Twitter into a super app may not be the best strategy.
Crafted by Merlin AI.
It would make much more sense if he would only accept „X“ payment for buying Teslas and Twitter things, paying Superchargers/Upgrades. And starting X as an extra Service as a competitor to PayPal like AliPay did by only allowing their payment.
forcing customers (or soon-to-be customers) to use a certain app for payments on a LARGE amount of money is a great way to get them to get out of the purchase in the first place
@@itemushmushwhat about giving a discount for purchasing a tesla on the x app? Maybe you will be selling at a loss but hey! Customer acquisition!
@@fennecfoxfanatic Doesn't worth the CAC. Many will just use X one time and never use it again. What would be the revenue model anyway??? Why would I pay 'X transaction fees' when there's other options for free.
Huge discount and other incentive for paying Tesla Supercharger using X
Yeah, that would only hurt Tesla purchases lmao.
I think people should stop taking Elon Musk so seriously. He is a marketing genius and has perfected the formula for creating hype around an idea or a product. He always completely overpromises in regard to his products and then underdelivers masterfully. In addition, a lot of his ideas are essentially scams (like Neuralink or Hyperloop which are just not capable to deliver on their promise - ever). I am also kinda sick of the way he names things. "X" is not a better name for a service than twitter, but he thinks its cool so he just does it.
I absolutely agree with you
Elon is a manchild
Twitter is the perfect name for the social media platform that was. But...
X did not emerge from the purchase of Twitter. Elon is simply finally wrapping a unified brand around his companies. He is building an ecosystem and not a bunch of money-making schemes... as is the case for every visionary deeply rooted in the most fundamental interpretation of existence - Natural Law (or as I like to call it Uncausedness). To understand his companies is to understand his worldview.
A good practice to stay grounded is to consider that Elon is merely an individual. He is not powerful enough to do any of these things on his own. It is only by convincingly sharing his vision with enough powerful people that he can... especially this Twitter move.
@@freddielungu4444 "Natural Law (or as I like to call it Uncausedness)" Sounds like serious woo-woo.
How can an Idea be a scam?
they say a super app has not taken off in the west.
but it has: we all use a web browser, most likely a Chromium variant.
10:00 - Incorrect, he had no clue what he was doing with confinity, the original X and Paypal. He budged his way into the CEO of Paypal and then was later removed from the board and Peter Thiel was put in charge. He had no experience running Paypal at all
I’m honestly very weary about the power a corporate company would have if a super app were to take over. With the popularity in Asia, I’m not surprised given the types of governments there but I just prefer a division of power among corporations who care about nothing but greed.
It's just another corporation trying to make money. Nobody has to use X since there's alternatives that can do what it does but better. For now at least.
Google doesn't have a proper competition and is arguably more powerful than Wechat over the Chinese populace than Google over the Globe.
Yet no one bats an eye
Wouldn't attempting a superapp run into anti-monopoly laws? Trying to have every app in one place would just be asking for an anti-trust lawsuit.
Prediction: I think the next step of these super apps is to actually release their own mobile operating system. They have now build a kind of "platform on a platform" as these super apps still run on Android or IOS which in turn run their own apps within the context of that super app (hence: platform within a platform). So for the superapps to "mature" in some way, I think they will eventually just release their own OS. As people already spend the majority of their time on this super app when they use their phone, they will start to neglect the other features of Android and IOS and as such this would be a logical next step. The primary attraction of Android was its Google services, now the already established super apps services could potentially do the same for their own in-house OS's I presume.
Amazon already tried that. It was shit.
The thing with super app is it feels like trying to be an operating system on operating system. If they will make an OS, the features will be like separate integrated apps like Window's Control Panel, Device Manager, etc.
@@moritzwagner4332 True, though Amazon is not a super app.
@loopernagic4658 For the moment, yes but who knows what the future will bring? It's mainly the micro programs where I see the potential. For now they may be relatively basic compared to standalone apps but as their framework evolves it may become capable of mimicking an actual app experience and if it gets to that level, anything is possible really.
You severely underestimate the effort it takes to make a new mobile OS. The majority of attempts have been by forking Android, the only recent success (HarmonyOS) started AS a fork of Android, and the local non-Android OSes are either struggling in skunkware labs, pre-pre-pre-orealpha, or even more niche than Android forks.
I personally believe he chose to buy Twitter mostly for the data. as you said, it wasn’t for the users, employees or even the platform itself, but the data. That’s very valuable to succeed on the creation of a Super App.
he bought twitter because he was forced to do so
@@solivares yes, but it would still be cheaper to be sued than to go forward with the purchase. That’s why I believe the date was his biggest motivation.
@@tiagomaqz so, in conclusion, you're agreeing he was forced to. due to his vanity and ego.
@@Maddog-xc2zv nah. It would be cheaper to be sued than to buy it if didn’t want to. He DID chose to buy it even though he got cold feet at some point.
@@tiagomaqzHe got cold feet when he recognized that it was a terrible purchase.
Im a autistic middle schooler and my teacher told me i "could be like elon musk if i try hard enough" bro if this is elon musk then fuck it, im going homeless
Just the breakdown on how much it would save him if he just built a new company from scratch is bloody sobering…
So, a super-app is a program which can run smaller programs inside it ... sounds like it's just an operating system running on top of your existing operating system.
yeah, as the video somewhat said it seems to just be a "Google play store"/"App store" where those aren't available
a dream within a dream
Your browser already does that lol. And btw, it's called virtualization/containerization, not operating system.
@@hanifarroisimukhlis5989it's just webview lol and Google actually have something similar called Instant on Play Store
@@hanifarroisimukhlis5989 I call it layers of slowliness.
With how tight the law about these kind of things are in US, I dont think it will happen anytime soon.
Do you think the EU might slap this down too?
@@Lionel-zd8rb Yes, they both done it with tens of thousands of employees working over multiple year. Regulation and red tape in general might not stop you entirely, but it sure does burn your money.
Super apps are explicit monopolies which is very not the way to do things in the US. But big tech splits up apps to avoid the look of a monopoly in the digital space
Actually Elmo was fired from PayPal because of gross incompetence, if he had stayed he would have driven it into the ground. He only became rich because he didn’t sell his shares in the company until after he left and the adults running the show made it a success. Since then the majority of the companies he has started have been ultimately disasters that quietly disappeared once Elmo lost interest and the media stopped paying attention. Twitter will eventually disappear as well.
In Germany we already have a very popular payment method called "Bargeld". Basically all the stores, restaurants, event locations and even public toilets accept it. A lot of the people in our biggest demographic (45+) only use this method. So yeah, going from "Bar" (how we casually call it) to something probably called "x-pay"? No way!
Should've told them that Bargeld means cash, to make the sarcasm land better
Here in Wiesbaden, it is no longer possible to use Bar for ticket purchases on the Bus. You can still tickets at kiosks for cash, but it's only a matter of time before we are pushed to digital payments everywhere.
Really nice video!
a good overview of super-apps in general, which is the more interesting part of this story.
Except Elon grossly overrates his ability to develop anything, and he fired everyone who was a senior developer.
4:09 - the ± prefixed to a number in the graph is incorrectly used. The symbol denoting plus or minus is used to demonstrate the range between a fixed integer value. Thus the correct way to use ± is by finding how much it varies between the 2m mark (for the App Store) and post fix the range: 2m ±50k -> hence the figure is between 1,950,000 - 2,050,000.
Looks like he meant to use ~
So super apps are like web browsers essentially.
One app (Chrome) where you have one account (Gmail) and can add mini apps (Web pages), so all your services are accessible in one place and (mostly) with the same credentials. You can sync it across devices.
Most of the features available on paytm are available on any other payment app in India. So for most people gpay and paytm means the same.
My bet is that in order to get this thing off the ground he would need to pay other established businesses to go exclusive with his payment system, or pay users to onboard them. No one will care about yet another payment service otherwise. I would expect it to be a very expensive and risky project and with loads of competition out there to kill it off. I would be very surprised if he manages to get anywhere near what he is saying
I guess offering a sign on bonus and some discounts would be a good place to start, but retention past the first month would be a challenge.
Your overall assessment of Elon is so on the mark. Never count him out. But for a "smart" guy, he does some stupid sh*T. It cracks me up how EVERYONE still calls X, Twitter. If he can't get people to follow that lead, good luck with all the rest of it.
Elon is actually quite dumb, but lucky.
Elon has spent his life failing up from the money he inherited.
Can't exactly have a superapp when its leader keeps attempting to remove basic features like security and user filtering and upvoting
That branding looks like a super villain app
Instead of buying Twitter he could have just make a brand new app, he has the money to do so and fame to attract a lot of faithful followers(at least 5mil)
He bought the users. Gaining users from 0 is more expensive than just buying it.
Theoretically I could become a unicorn. Not likely, but still theoretically possible. Bit like Elon, he could take over 50% of the banking system.
Well you haven’t done anything of note, so not sure why I must listen to you.
A single app collecting alot of information is dangerous.
A super-app by the WeChat definition is nearly impossible in the United States considering the Apple App Store (the dominant operating system in the US) forces all apps within it to have everything approved. You cannot, by definition, create an app store within the App Store.
Sure, sideloading-but most users aren't going to do that. Only power users will and that's not the market a super-app needs.
Twitter has the benefit of not participating is as much government censorship
not super app more like surveilance app. Those apps fail cause most people don't want to be data
Without watching the vid, I predict the reason superapps work in some areas and not others is because of government backing
Interesting. You could say the Apple and Android app stores are already super-apps themselves. Pretty much all cash flow is going through them and their 30% cut.
I dislike this model as I feel like it gives too much power and is completely incompetable against.
Google is a just a fragmented super app if you think about it. Chrome, youtube, search, payments, pixel phones, chromebook laptops . My highschool issues them to all students so we're all at least familiar with them, even if they're not popular otherwise. If you search all google products you'll see a list that only scrapes the surface
Love your analysis. I would request you to make a video on India's UPI and Aadhaar authentications for just about anything. We don't have to sign any documents nowadays for opening demat or bank accounts and many more.
I gotta say this channel is just super high quality. Please keep it up!
Turns out a rich troll doesn't understand what normal social media users want in an online experience.
I just dont want that one app know to much about me.
Gonna be hard as hell for old Musky to make anything if he doesn't pay his rent on the buildings his company is lodged in. Or his server bills. Or if he loses the pile of lawsuits against him bc of his antics.
Pretty sure he’s gonna be fine as much as that pisses you off
@brandonporter550 Found the Elon fanboy
@@brandonporter550 Pretty sure he’s not gonna be fine as much as that pisses you off.
Seems so pointless having an app with loads of apps inside it. That's what the OS is for 🤷♂
Model 3 is somewhat replicated in Polish SkyCash, you can pay for tickets (public transport, cinema), motorways, parking, insurance. The only thing missing is peer-to-peer money transfer which is handled by BLIK integrated in most Polish banking apps.
Elon failed!?
But Hyperloop.....?
The submarine to save kids trapped in an underwater cave in Thailand?
Mars exploration?
LVCC Loop?
Solar Roof?
Tesla Roadster?
Great content. I really enjoyed your hypothetical. It truly is a mind boggling amount of money to have spent on something he didn't seem to want in the first place.
He wanted to buy Twitter but not for that price, due to the many bots and not that many active users as they claimed.
Twitter didn’t want to sell in the first place and than forced him to buy.
@@mhfs61 that's not true. He made a ridiculously over inflated bid based on a joke number (44 Billion is from 54.20 per share. get it? weed haha) and the board legally had to accept it on behalf of their shareholders, that's how it works in business. He then tried to back out of it multiple times, thought claiming 'but the bots!' would get him out of it, Delaware court said no deal, and the number of bots since he took over the platform has absolutely skyrocketed. I've been on twitter since 2009 and the user experience has never been worse. I don't even bother anymore
In addition to the absurd starting point, there's also an uphill battle because everyone who wants it probably has a payment app already. In Finland a Danish app is so ubiquitous that people are almost expected to just have it, and it's the default peer to peer option.
If I had to chose at gun point I would rather sell my data to meta than have it in the hands of Elon, but given I got a choice both can 🖕.
Wonderful video as usual.
They both have your data
True. Elon shows zero values one would need for such trust. He criticised AI and asked for slowing it down for a while and next day we found out that he bought thounsands of graphics cards for AI; others should slow down so he has time to catch up. There are many examples that make me wish this stays his wet dream. These days I trust Zuck way more and that says a lot.
I think the super app in the US approach failed because of strong desire of privacy. you don't want facebook to know what you order, what you eating, where your going. who you dated, etc. etc.
So wechat is google play. What's so interesting about it ?
Yeah, the 'everything app' just being another way of saying 'operating system' is something that had occurred to me as well. And I'm actually kinda surprised China didn't have a rip off playstore that came preloaded to serve that role.
6:38 he is truly a German.
IYKYK.
He's actually a Hungarian living in Germany
Inglourious Basterds!
Paytm is not even the dominant application in it's core payments space, being a distant third in UPI transactions at 13% in Jul 2023, compared to 35% of google pay and 47% of phonepe, the latter two also have a lot of the same features as paytm and even the whole instant apps stuff. Paytm still has things like an ecommerce store and its own bank unlike its competitors but with the applications of many traditional banks also going down the same route and there ecommerce platform isn't that big either.
So, lets say you have a super app and there's a data breach. I don't get information about a person for one thing--i get it for ALL the things. If you have a chatting app and its somehow also a video app like youtube, a banking app connected to your actual bank, and a grocery app, you could get:
--data about a person's tastes, political leanings and personal beliefs based on their videos
--data about their purchasing history, the foods they like and dislike, the things they've bought irregularly meaning those are special purchases
--financial account information
--their social circle, who's their friends, who they talk to most, what pictures or videos they send each other
etc etc.
And fromt his, you could extrapolate an insane amount of things about a person, to the point where any idea of privacy is rendered null. Now, this could still happen with a bunch of decentralized apps for many different reasons, but the idea that theres a single company that has all this data is just too much.
Line is actually a Korean app. It took off in Japan and Thailand for some reason.
Paytm is not that sucessful in india as well. Amazon pay also exist and so does cred
PayTM used to be quite successful but I suppose the open nature of UPI kinda threw off it's balance in the market
it's not a failure. it's just that it has competitors.
It's interesting to know what goes on in China besides the hysteria. Thanks for these informative videos!
This sounds like hell. I'd never trust a single app/company to hold so much power.
he just destroyed twitter with mandatory subscription
"Elon warps reality around him"
in the sense that he lowers the average IQ of any room he enters, sure.
as long as he has his name connected to the X app, half the people wont use it just as a principle .
Nah, nobody quit whatsapp because facebook. if you can get half the population to use it, the rest will have to follow.
@@elon6131 simp
@@joser1853 "Oh no, scary facts that don't match my worldview. quick! insult that person and thoroughly erase those facts from my brain, lest i learn something new accidentally"
@@elon6131But people hate Musk more than Facebook
@@joser1853hater
Correction: Super apps are a thing in india but they don't work like they do in china or SE Asia. People don't use them as "super apps" but for only singular uses
It makes very little difference. You're still using it, and that's what Musk will care about - that everyone uses his services even if individuals only use one of them. Other individuals will use them for more than one use case. It's like Apple. Most people only use the iPhone. Others use iPads, Macs, Apple Music, Apple TV+ etc. It's all about ecosystems
@@franklingoodwinnah in india paytm is just another UPI app and those super app features are just bloat make app super laggy and unstable they should remove it and make something minimal like us cashapp
@@franklingoodwinwell frankly speaking i dont think elon's 'X' will be hit in india cuz we already have Paytm and Phonpe app doing those things way way better and second 'X' is foreign company for us
@@Ishantyagiofficial Fair enough. If I was Indian I might trust Indian tech companies over US ones too
Very good and balanced analysis. I think the only chance X ever has to succeed is Elon’s persona, and some ground-breaking feature that no one else has access to - which is hard to imagine in this day and age, but who knows. The bigger issue I see is the idea of super app itself. I don’t mind having more features bundled in a single app, but I truly HATE apps that are not native mobile apps, just glorified web browsers displaying a generic web page in the background. They are always slow, unintuitive, and don’t have access to some of the convenience features that the platform offers and users take for granted. At least that’s often the case on iOS, which I assume doesn’t allow easy access to all features to external web pages, or it’s hard to implement them outside of a native app built from scratch… not sure about Android, could be different due to its lenient approach to security.
A "super-app" sounds like a failed marketing term for AOL. I don't think most consumers really want a "curated" experience, "one-size-fits-all" is not a product strategy bound to work in a market full of consumers who historically crave and embrace new choices.
MElon is not near as intelligent as his marketing. For example, the idea of using "X" as a name for anything in 2023, is such an anachronism. I'm surprised He didn't use "The Smoking Man" as a logo, nothing's as fresh as the X-Files if your ideas haven't matured in the last 25 years.
Not many are going to be willing to have all their sensitive data in one place as there seems to be little consequence for corporations who skimp on security.
While many of us are used to having our usage data sold, but the idea of a company holding onto such important info as bank info and id?? Especially a social media company??? No way