Elon Musk had a Space conversation with Cathie Wood, the “Ark Funds” CEO known as the female stock market goddess, today (22nd). During the conversation, Musk stated that he wouldn’t spend much time thinking about cryptocurrencies. Additionally, he announced that X (formerly Twitter) will obtain a nationwide payment license in the middle of next year, with the goal of launching payment functionality by the end of 2024.
As a background, Elon Musk, the founder of Tesla, discussed his thoughts on artificial intelligence (AI), cryptocurrencies, and turning X into a super app during the Space conversation with Cathie Wood.
Firstly, Musk’s attitude towards cryptocurrencies may disappoint cryptocurrency and Dogecoin communities. According to Beginza’s report, Musk admitted that he applied information theory to the monetary system, despite previously stating that his companies would not launch “cryptocurrency tokens”. He mentioned that if inflation and deflation were minimal, fiat currency would be a good resource allocation database, stating, “It’s an information system, and you want to minimize noise.”
On another note, when discussing the topic of upgrading X to a “super app” that combines payment, live streaming, recruitment, dating, and other functions, Musk revealed that X has obtained money transmission licenses in over half of the states in the United States. He stated, “I think we actually have a majority of states.” The world’s richest person added that X is still waiting for approvals from New York and California and expects to obtain money transmission licenses in all 50 states by mid-2024.
Previously, Musk expressed his goal of launching financial payment services for X by the end of 2024. X’s newly appointed CEO, Yaccarino, believes that there will be ample opportunities for this in 2024.
Furthermore, during the Space conversation, Musk also talked about his passion for AI. As one of the co-founders of OpenAI, he played a significant role in creating OpenAI and naming the company. He disclosed that he helped Ilya Sutskever, the company’s chief scientist and another co-founder, join the company. Sutskever previously worked for Google under Alphabet and was a key figure in the dismissal of Sam Altman, the former CEO of OpenAI, from the board. Musk believes that this move to recruit Sutskever to OpenAI may have been the reason why Alphabet co-founder Larry Page is no longer friends with him.
Musk, who has left OpenAI, once again criticized the company for no longer being open-source and becoming a highly closed organization pursuing maximum profit. He mentioned that his AI company, xAI, is currently testing the Grok chatbot and aims to become the most interesting AI chatbot and a calibrator of facts.
Related Reports:
– Musk praises Jack Dorsey’s new cold wallet “Bitkey”: Everyone should control their own private keys.
– Musk hints at a conspiracy behind OpenAI: Intense internal struggles are unnecessary and the truth is not simple.
– Musk and Zhao Changpeng “meet with Xi Jinping” to discuss cryptocurrencies? CZ laughs and says it’s a misunderstanding.
– Is Grok a super AI? Musk retaliates against OpenAI founder: ChatGPT is not open-source, just money-making.
Tags:
AI
Cathie Wood
Grok
OpenAI
X
Cryptocurrency
Payment
License
Elon Musk