— Trung Phan (@TrungTPhan) October 4, 2022
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
On October 4, 2022 Elon Musk described his acquisition of Twitter as “an accelerant to creating X, the everything app”. This has been linked to x.com. In conversation with Ron Baron a month later, Musk said he will execute the X product plan “with some improvements” which will make Twitter “the most valuable financial institution in the world.”
In March 2000, X.com merged with Confinity, its fiercest competitor, the new company being called X.com. Musk was its biggest shareholder and was appointed as its CEO. Started in 1998, Confinity’s product PayPal enabled users with PalmPilots to send money to each other through its infrared ports. Subsequently, PayPal developed to allow users to send money using email and the web.
In September 2000, when Musk was in Australia for a honeymoon trip, the X.com board voted for a change of CEO from Musk to Peter Thiel, the co-founder of Confinity. In June 2001, X.com was renamed PayPal.
— Real-Estate Land Development Limited (@RealEstateLand3) January 23, 2023
X Marks the Spot