Elon Musk's Ambitious Vision: The Quest for an 'Everything App'
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Chapter 1: Introduction to the Super App Concept
Elon Musk has long been discussing the possibility of creating a super app, often referred to as an "everything app." During a recent episode of the All-In podcast, he emphasized the necessity for such an app in the U.S., stating, "It’s either convert Twitter to that, or start something new. It does need to happen somehow."
After finalizing his acquisition of Twitter for $44 billion on October 27, 2022, Musk expressed his ambition to evolve the platform into this comprehensive app. He stated, "Twitter is an accelerant to fulfilling the original X.com vision," though specific details on the transition remain unclear. What is evident is that the journey ahead will likely be challenging.
Chapter 2: Defining the ‘Everything App’
Musk’s idea revolves around creating a "do-everything platform" akin to those popular in Asia. In many Asian countries, mobile phones serve as the primary means of communication and internet access, leading to the widespread adoption of super apps.
You might wonder, what exactly constitutes a super app? It is often described as the "Swiss army knife of mobile applications," providing a variety of services such as messaging, social networking, peer-to-peer payments, and e-commerce—all in one location.
Musk’s frequent references to Tencent’s WeChat indicate a clear direction for transforming Twitter into a super app. He previously described WeChat as "Twitter, plus PayPal, plus a whole bunch of other things, and all rolled into one with actually a great interface."
As part of this evolution, Twitter's interface will undergo significant modifications. Musk has already initiated changes to its operating model, including the addition of encrypted direct messages, voice chats, and video capabilities.
Why does Musk want to make an 'everything app'?
This video delves into Musk's vision for an 'everything app' and his ambitions for Twitter's transformation.
Chapter 3: The WeChat Model
WeChat serves as a primary example of what Musk aims to achieve. With around 1 billion monthly users, it has become an integral part of daily life in China, facilitating everything from ride booking to food ordering.
Recent reports from the South China Morning Post suggest that WeChat is testing an "electronic identification system" in various Chinese cities, potentially linking users’ accounts to this new system. Musk envisions a similar all-encompassing platform in the U.S.
“If you are in China, you kind of live on WeChat. It’s really an excellent app. And we don’t have anything like that outside of China,” Musk stated. He believes that this super app should function as a "digital town square," fostering community engagement through video posting and comments. Once trust is established, Musk foresees that integrating payment systems, whether cryptocurrency or traditional currency, will make more sense.
Chapter 4: The X.com Vision
X.com symbolizes Musk's broader vision, with Twitter now playing a crucial role in this journey. Musk initially co-founded X.com in 1999, which later became PayPal after merging with another company. He reacquired the domain X.com from PayPal in 2017.
Following this, Musk founded SpaceX in 2002 and launched the Model X through Tesla in 2015. He has also established several companies under the name "X holdings" as part of his bid for Twitter.
The transformation from Twitter to X reflects Musk's ambition for the platform to evolve into this 'everything app' or 'super app,' which could also be termed an 'X app.'
Chapter 5: Challenges in Creating a U.S.-Based Super App
Developing a super app in the U.S. presents significant challenges, particularly with other major social platforms already exploring this territory. For instance, Facebook and Instagram have focused on e-commerce, while Walmart has ventured into digital banking, and Snapchat has experimented with peer-to-peer payments.
Kim Bazak commented on Musk's perspective, noting, "Elon is very ambivalent when it comes to Web3, but between the lines, you can see that he is pro-decentralization (when it makes sense, like with Bitcoin) but against the stupid trend of NFTs, P2E, and dumb jpegs."
For a super app to succeed, it must cultivate a loyal community around its offerings. Twitter, with its established user base, presents an enticing opportunity for such a transformation. The ongoing Twitter saga has captured public interest, and how Musk navigates this transition remains a hot topic. While the road ahead is fraught with obstacles, the possibility of success is not out of reach.
Why Does Elon Musk Want To Make An 'Everything App'?
This video explores Musk's motivations and the challenges he faces in creating a super app.