Tesla CEO Elon Musk proposed integrating crypto payments into Twitter.” My goal is to maximize the usefulness of the service.” He said at his first all-hands meeting with Twitter employees.
First all-hands meeting with Twitter’s Elon Musk, crypto payment integration
Tesla and Spacex CEO Elon Musk, who may become the new owner of Twitter Inc. held his first all-hands meeting with Twitter employees on Thursday.
Musk answered a number of questions about how he plans to run the social media company if he is successful in acquiring Twitter. However, the $44 billion deal is currently on hold, and Musk has accused Twitter of material violations of the merger agreement.
According to a leaked transcript of the meeting and a leaked video posted by Project Veritas, Musk mentioned crypto several times during the meeting.
Leslie Berland, Twitter’s chief marketing officer, asked Musk: “Can you talk a little bit about Twitter and payments?”
The Tesla boss began by saying that “money is basically a form of information,” adding that it is “basically digital.” He added:
I think it makes sense to integrate payments into Twitter so that it is easier to send money back and forth and fiat as well as crypto – basically, anything that someone finds useful.
“My goal is to maximize the usefulness of the service – the more useful the better. And if people can use it to make convenient payments, that’s an increase in usefulness,” he stated.
encryption fraud and spam accounts
Berland also asked Musk about some of the problems he sees on Twitter. The Tesla CEO replied.
“It’s getting better,” he continued, “but it’s still pretty much there.” It’s not necessarily bots, but there may be people manipulating them. One person is manipulating hundreds of accounts to make it look like an individual, but it’s not.”
Musk had previously said that spambots are Twitter’s most annoying problem, declaring that he would “or die trying” to beat them if he successfully acquired the social media platform.
Transparency, trust, and free speech
Musk further explained to Twitter employees.
“I think it’s very important that we have transparency. So I advocate for open-sourcing the algorithm so that people can critique it, improve it, and identify bugs, potential or biases.”
Noting that “transparency obviously increases trust,” the Spacex boss stressed that.
Trust is very important. And the usefulness of the system, i.e., keeping out things like troll farms, bots, and spam, is very important.
Regarding free speech, Musk states. “I think it’s essential to have freedom of speech and to be able to communicate freely … It is free speech within the law. So it’s not a matter of just ignoring the law.” In that case, it would just be closed.”
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