No, Elon, you can’t make a “WeChat of the West”

🌈 Abstract

The article discusses Elon Musk's plans to transform Twitter, which he acquired in 2022, into an "everything app" or "WeChat of the West." It explores the challenges and skepticism surrounding Musk's vision, as well as the cultural and competitive differences between the Chinese super-app WeChat and the potential for a similar platform in the West.

🙋 Q&A

[01] Elon Musk's Vision for Twitter/X.com

1. What is Elon Musk's vision for transforming Twitter into an "everything app" or "WeChat of the West"?

• Musk wants to turn Twitter, which he renamed X.com, into a super app that handles comprehensive communications, financial services, and other functionalities, similar to the Chinese app WeChat.
• He sees the acquisition of Twitter as an "accelerant" towards achieving this "everything app" goal, drawing on his experience from founding PayPal.

2. What are the key differences between the success of WeChat in China and the potential for a similar super app in the West?

• WeChat's dominance in China is due to the lack of competition from other major platforms like Facebook, Google, and Twitter, which are blocked in the country.
• The cultural context in China, where cluttered and information-dense interfaces are more accepted, also contributes to WeChat's success, whereas Western users may prefer more specialized and minimalist apps.
• The article suggests that Musk's personal reputation and controversies surrounding his management of Twitter/X.com make it difficult for users to trust him with their financial information and transactions.

3. What are some of the initial steps Musk has taken towards turning X.com into an "everything app"?

• X.com has launched audio and video calling features, which have raised privacy concerns due to the default IP address sharing.
• There are plans to introduce an "X TV App" to compete with YouTube on smart TVs.
• Musk has also applied for money transmitter licenses in all 50 U.S. states, indicating a focus on peer-to-peer payments and offering high yields on account balances.

[02] Challenges and Skepticism Surrounding Musk's "Everything App" Vision

1. What are the main challenges and skepticism surrounding Musk's vision for turning X.com into an "everything app"?

• The article suggests that Musk's personal reputation, which has been significantly tarnished in recent years, makes it difficult for users to trust him with their financial information and transactions.
• The cultural and competitive differences between China and the West make it unlikely that X.com will achieve the same level of dominance and success as WeChat.
• There are concerns about the functionality and usefulness of an "everything app" in the Western context, where users are more accustomed to specialized and minimalist apps.
• The article expresses skepticism about Musk's ability to deliver on his ambitious vision and overcome the various challenges involved.