Blatantly copied from the excellent Garbage Day newsletter: "Elon Musk wants to add a payment app inside of X because he's desperate to turn it into an Everything App like WeChat and you can't do that unless people are using it for transactions. But in order to get regulatory approval to add a payment feature, X had to disclose a bunch of financial information. Which is how we now know that revenue for X was 40% lower in the first half of 2023 than what it was during the same period in 2022. Masterful gambit, sir". The Bloomberg article also reveals that Musk owns 75% of X and no single investor owns more than 10%, so there's fuck all chance of him getting sacked by investors any time soon, as he would likely just buy them out instead of going away.
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