Elon Musk the Banker Wants to Take On Dimon Where Google Failed
- Billionaire plans to make Twitter a financial-services app too
- Idea is part of the rebranding of Twitter with the letter X
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Elon Musk’s grand vision is to turn Twitter into a one-stop shop for financial services. It’s hardly the first time a tech giant has sought to muscle in on Jamie Dimon’s turf.
Facebook spent years investing in a project called Libra that was supposed to revolutionize cross-border payments, but regulatory scrutiny forced it to abandon the push. Google planned a digital financial offering and even lined up 11 banks as partners for the launch before it suddenly nixed the entire plan. Amazon.com Inc. considered offering checking accounts for consumers, yet that endeavor never became a reality.