Elon Musk Gives PayPal Stiff Competition. 😀😂😇😈💻🖥⌨️🖱💰🪙💳💸

The recording has started. Take three. Well now, always remember. Super Dave Bistula. The tall, white, gothic, vampire alien. Coming to you from Tim Hortons. The, you know, the usual haunt. Dessert Street. The Shopping Mall. The St. Dorothy Mall. In St. Dorothy, Laval. Super Dave Bistula. Of Chamonix, Laval, Quebec, Canada. Well, it seems to me that, um, it's payback time for, um, for PayPal. Because Elon Musk is launching X-Money. They screwed around with, uh, Elon Musk. What can I say? And, uh, they've been doing a lot of stupid, woke things. Just like, um, just like, um, GoFundMe. Where they stop your, uh, stop your transfer. If, uh, what's it called again? If, uh, you don't fit their woke narrative. Which is very stupid. Why the... You're not going to build anything like that. Anyways, so. Without further ado. My, uh, my digital host David is going to take over. And he's going to read. From, uh, The Street. Magazine. Online. David. BDSM, uh, PayPal. Θα το λέω τώρα PayPal. Καὶ σοκμέτς κακπιτιουδές. You ******* idiots. Φάητε μεγάλη σκατά. Whoops. Θα το φας ένα μεγάλη σκατό πράματα. You ******* morons. I don't know what to tell you. Anyways. I'm going to read, uh, without further ado. I'm going to read from, uh, I'm going to reduce myself to a little blip. And read from, uh, The Street. So here goes nothing. And hopefully. Hi there. Let's, uh, make ourselves a little bigger. The Street. Let it, uh, refresh. And hopefully this will not turn off. Where you see me. Elon Musk just made, uh, things uncomfortable for PayPal and Cash App. Good. The Everything App is, uh, no longer just a vision. March 12, 2026. 8.33 PM. Eastern Time. By Hilary, uh, Remy. Edited by, uh, Celine Provoni. Get rid of that. Okay. There's Elon Musk. Now I'm going to need my glasses. I'm not going to read the key points. So Elon Musk has been talking, uh, has been turning X, the former Twitter, into a financial super app for years. In April, he finally made, uh, he's finally making good on his promise. On that promise. On March 10, Musk posted a single line on X. X money, early public access will launch next month. It was brief. And his announcements, as his announcements tend to be, but the implications are hard to overstate. What can I say? For the first time, X's 6 million monthly users will be able to send money, earn interest, spend via debit card without ever leaving the app. Shares of Visa V, uh, climbed, uh, climbed 1.2% to $312. Following the news. Reflecting the company's role as X money's, uh, X money's payment back. PayPal slipped. 0.8. **** you guys. Percent. A small but telling sign of how Wall, Wall Street is sizing up a very competitive threat. X money launches, uh, with a product, with a product lineup that goes well beyond Venmo. The April rollout will not be stripped down beta. X money launches with peer-to-peer transfer. Powered by Visa direct. A digital wallet and both for a virtual and physical debit, debit cards carrying 1% cash back. According to payments. Users can also link back, uh, link back accounts to, uh, for direct deposit and bill payments. The feature of drawing the, uh, the most attention is yield. X money will offer us up to 6% APY, balances through FDIC, insured partners, banks, including, uh, Cross River Bank. Good. That rate beats virtually every single savings account on the, in the U.S. and is competitive, competitive with the best money market funds. More tech stocks? No. Visa. Uh, the Visa partnership enables secure and instant funding to an X wallet with, uh, real-time P2P transfers linked to user, user's debit cards. Explains X CEO Linda Yaccarino. Yac, or Yaccarino. CoinDesk notes, the 6% yield is already being drawn in a regulatory, a regulatory scrutiny as Congress debates the Clarity Act governing the yield-bearing products from non-bank institutions. Hmm. Clarity Act. Yeah. As if you, uh, guys are, uh, clear. What, uh, what X money launches within, within April? Peer-to-peer, uh, transfers of, uh, via Visa Debt, Visa Direct. With real-time settlement. Digital wallet with, uh, direct, uh, deposit and bill pay. Virtual and, uh, physical debit cards with, uh, 1% cash back. Up to 6%, uh, APY on balances through, uh, FDIC-insured partner banks. FDIC deposit insurance up to, uh, 25, uh, $250,000 via Cross River Bank. Zero foreign transaction fees. That's pretty good. Sounds impressive. The regulatory groundwork separates X money launch from, uh, past, uh, Musk promises. What makes this, what makes this moment different is the infrastructure. Is the infrastructure quietly assembled behind it? X has, uh, has secured money transmitter licenses for, uh, for more than 40 U.S. states. And the District of Columbia. A legal footprint that took years to build, state by state. There's only no, there's no, there's one, there's one notable gap. New York, one of the country's largest financial markets, is not yet among the licensed jurisdictions. That's because, uh, it's, uh, festering with, uh, Democrats. State officials have, uh, previously urged the Department of, uh, Financial Services not to author, uh, authorize the platform, you ******* assholes. Citing concerns tied to Musk's other, uh, roles. His, um, his political roles. You ******* idiot. You're gonna, you're doomed to fail. X is working, uh, to close that gap ahead. Ahead of a wider rollout. The Visa Partnership does more than, uh, payment rails. It hands X a built-in compliance network and access to Visa Direct's capacity to 65 billion transactions per year. For a platform trying to earn its, uh, earn trust in financial services, that association carries much weight as the technology itself. That's true. Dogecoin spiked on the news, but, um, X money is strictly fiat at launch. No revelation, uh, from Musk arrives without a Dogecoin reaction. And this was, uh, this was no different. Doge has surged as much as 8% before giving back those gains. Following a pattern that has, uh, that has played itself repeatedly since 2021. Hmm. It was kind of big. Any hint of, uh, payments, uh, payments activity on X gets read through, uh, CryptoLens. The reality is, uh, the reality, at least for April, is more grounded. X's head of, uh, product, Nikita Bir, confirmed in February that crypto tools on the platform would only display market data and redirect users to external, uh, exchanges. X money will not be executed, will not execute trades or act as a brokerage at launch. Not yet, anyways. Maybe further down the road. Crypto integration, including support for Bitcoin, Ethereum, and Dogecoin, is on the roadmap for a little later in 2026. This product arriving in April is a polished fintech competitor closer to X. With a social layer that the crypto native wallet had some, uh, wallet, some had anticipated. That's good. Creators stand to benefit from X money as much as everyday users. The payments, uh, the payment launch is not only aimed at consumers. Musk has described X money as the foundation for frictionless creator payouts. The super, uh, the super follows subscriptions, tipping, and, and in-stream super thanks all set to root through the, uh, new wallet. The creator economy already, uh, economy layer already generates an estimated $5 billion annual run, run rate across the platform. Jesus Christ. For creators, the appeal is straightforward. Instead of waiting for payout cycles tied to external processors, X money is designed to root, uh, earnings directly to the, uh, to the wallet in real time. Oh, that's good. That removes the point, uh, that removes the friction point as long as, uh, frustrated independent creators monetizing audience on social motor, um, on social platforms. Hmm. The broader, uh, roadmap, uh, further, uh, investment extends further. Investment, uh, tools, loans, and crypto, uh, on-ramps are targeted for later phases in 2026 with the commerce market and international expansion penciled by, uh, penciled in by year end. Hmm. That is what, uh, that is the WeChat model, model Musk has, uh, has pointed out to, to repeatedly. One app for messaging media, payments, shopping, and investing all in one. Hmm. So that's what he's doing. PayPal, Venmo, CashApp suddenly faced, uh, faced a six million, uh, six million user rival in X money. Good. Especially for PayPal. I don't know about CashApp or Venmo. I don't know what they're about. But if they were woke, well, they're gonna find out they're gonna go broke. The scale advantage X brings to the, uh, to this fight is difficult to match. PayPal has about 430, uh, million users. Venmo has about, has roughly 90, uh, 90 million. CashApp counts about 57, uh, million act, actives. X arrives with six million monthly users, uh, from day one without needing to acquire a single new customer to generate network, uh, network effects. The product, uh, pitch is also sharper with, uh, what, uh, incumbents currently offer. Zero foreign transaction fees. Hmm. Six percent yield. Real time P2P transfers cash back on every swipe. Hmm. Analysts tracking the, uh, launch note that the promotional fee structure will not, will not last forever. But the strategy is clear. Build the habit before the margin kicks in. I guess he's quick. For Musk, this story stretches back more than 25 years. He founded X.com in 1999 with the ambition of building a financial super app before it merged, uh, with Confinity and eventually became PayPal. X money, uh, he was, uh, screwed. Kicked out of being CEO. Well, now it's payback time for you guys. X money, in many ways, the product he always wanted to build in many ways was, uh, okay. Whether it finally became, uh, becomes the, becomes that depends on execution. And that is the one variable no regular, regulatory license can guarantee. Elon Musk, uh, by Hilary Ramey, okay. I guess that's about it. So we're just gonna close this. Close that. And we're just gonna reopen the, uh, big screen. Come on. And there you have it in a nutshell. What more can I say? The only thing I could say is, is that, uh, PayPal could eat ---- for doing what they did. I don't know about the other two, Vinmo and Cash App. I don't know if they were woke. But you see, when you get woke, you go broke. And now, Elon Musk is screwing you. Oh, he's been preparing this for years. You screwed him, he's gonna screw you. That's it. Anyway, Super Dave, conclude and close it off. It's actually justice. Hmm. Not social justice, just justice. You see, you screwed around with Elon Musk, and he found a way to rise back up again. Like a phoenix. What can I say? Hmm. I don't know what else to say. That's it. Let's see how this thing, uh, becomes. And it's already past April. We're in June, July. May, June, July, August. Now we're in September. Let's see if it does well. Anyways, that's it. At this point, I'll bid you adieu. Adieu, au revoir, adios, hasta mañana, hasta luego, arrivederci, shalom, salamaliko, sayonara, dosvidanya, auvidism, yasas, parevces, goodbye. Oso mesi boku, muchos gracias, molti, mucho gracie, tuta raba, shukria, shukran, sheshe, spasiba, tankeshem, efharisto poli, shacharagalem, whoops, shacharagalem, and, oh well, you tried to screw around with Elon Musk, but he's got a bigger resume than any of you over at PayPal. Over at PayPal, you guys are nothing but bureaucratic idiots. Red tape. That's what's holding you back. And you screwed around with, uh, Elon Musk. Elon Musk is coming back. Like a phoenix. Say bye-bye. Maybe he's gonna buy you up, but then he's gonna fire all the, um, CEOs over there. All the woke CEOs, anyways. Anyways, that's it. Now, the only thing to say is, thank you very much.