👉 Background: Elon Musk officially acquired Twitter in late October 2022 for a whoppin $44 billion USD. Since then, he’s made a whole heap of pretty unexplainable changes to the business:

• He walked into Twitter with a sink on Day 1 to let it “sink in” that he’s in charge
• He’s made more than 50% of the workforce redundant
• He’s removing legacy verified blue ticks and now only giving it to paying users

👉 What happened: Now, Musk said that Twitter “no longer exists” after being merged with a shell company called XCorp.

👉 What else: Musk has suggested in the past that buying Twitter would be an “accelerant” for creating an “everything app”. And this may just be his first move.

What's the key learning?

💡While there aren’t really any super apps in the Western world - it hasn’t been a through lack of trying.

💡 Alphabet, Google’s parent company and Meta have tried to achieve the super app… but struggled to cut through with Western consumers. So now, it’s Elon’s time to step up to the plate and prove that it’s possible.

💡In the past, Elon Musk has indicated that he wants to transform Twitter into a wide-ranging service like WeChat in China. (Think: mobile payments, banking, ride-hailing, food delivery and of course social media.)

💡 He believes that Twitter might only be valued at $20 billion USD now - more than 50% less than when he bought it - but the new XCorp could become worth $250 billion very soon.