Twitter Inc it no longer exists. Here are the latest news. The company that owns the Twitter brand has changed its name to XCorp, a privately owned company controlled by X Holdings Company. To decide the merger between the two companies was Elon Musk owner of both companies. It was the reporter who noticed it all, laura loomer, a long-standing lawsuit against Twitter. Also moved there registered office from Delaware to Nevada. The operational headquarters remain in San Francisco. Currently only Twitter Inc has been integrated into X Corp, but Musk's goal is to incorporate other companies.
Twitter news: super app goal
The change in X Corp marks the progress towards the Musk's project to create a “superapps” such as acomes to China with WeChat which in addition to communication functions offers other services including payments. The stated goal of the Twitter patron is to have in one application several services such as payments, e-commerce, gaming, chatting, enabling investments, reading the news and much more. In his mind there is the will to create the "largest financial institution in the world” as explained in a conference organized last month by Morgan Stanley. And the transition from Twitter to X is part of this journey "my goal is to create X, the application for everything and Twitter is just an accelerator," Musk explained. The challenge is huge and he has seen it through past wrecked projects like that of Meta which some time ago launched its coin, Stablecoin Libra.
Meanwhile, almost reneging on the recently signed letter to propose blocking the development of AI, Musk decided to focus on artificial intelligence for the near future of social media. According to Business Insider, Twitter reportedly bought 10.000 GPUs (graphics cards), on which the computer calculation performed by AI algorithms is based, to accelerate the process of creating an internal AI. These GPUs could be installed in one of Twitter's two US data centers.
Agreement with eToro to offer trading services and cryptocurrencies
The news on Twitter doesn't end there. Meanwhile, Twitter begins to diversify its offer. Musk squeezed one partnership with eToro, a multinational social trading and multi-asset investment company, launching the $Cashtag service. Another step towards the total app. Thanks to this new service, Twitter users will be able to see in real time the prices of shares, cryptocurrencies and other financial assets and in just a few clicks trading. There will be a button, labeled “view on eToro” which will take users to the eToro platform where they can buy or sell assets.
“Twitter has become a crucial part of the retail investor community: It's where millions of ordinary investors go every day to access financial news, share knowledge and have conversations,” he said. Yoni Hesse, Chief Executive Officer of eToro.
Twitter: from 8 to 1.500 employees
The revolution campaign, signed by Musk, led to the dismissal of 6.500 employees of Twitter from his settlement in October 2022. An average of nearly 40 layoffs a day. It has reported Muskin himself in an interview with the BBC "We had just under 8 workers, now there are 1.500". A definite choice "Painful" that "it wasn't fun at all" but necessary to regenerate social network accounts.
