X or Twitter – Did Musk get it wrong?

X or Twitter – Did Musk get it wrong?

San Francisco, 10/5/2022

Elon Musk says buying Twitter will accelerate his plans to develop X, „the app for everything.“

On Tuesday, Musk was said to have changed course and proposed to close the original $44 billion deal to buy Twitter, which the company has since agreed to. Musk is now waiting for the Delaware Chancery Court to adjourn the hearing in Twitter’s lawsuit against him.

Musk had sought to withdraw from the original agreement and was sued by Twitter to force him to comply. On Tuesday, Bloomberg reported that Musk has now offered to abide by the original April agreement and buy Twitter for $54.20 per share if Twitter drops the lawsuit.

On the same day, Musk tweeted about his plans for the platform, stating, „Buying Twitter is an accelerator for creating X, the app for everything.“ One of his followers responded, „I think it would have been easier to just start X from scratch.“

Musk responded, „Twitter probably accelerates X by 3 to 5 years, but I could be wrong.“

Musk did not elaborate on plans for X, but he has previously hinted at launching a social media platform called X.com.

Musk co-founded the website X.com in 1999, which initially functioned as an online bank before merging with another payment system. In 2017, he bought the domain name back from PayPal. At the time, Musk said the domain had „great sentimental value“ and could serve as an umbrella website for his other companies, such as Tesla and SpaceX.