𝕏’s Super App gambit: Elon Musk wants to be your bank 😳🏦; The Honest Network effect, or why Affirm’s data moat is worth $50B 🤑📊; Coinbase’s AI-powered debate system 🤖💭
FinTech is Eating the World, 28 November
Hey Everyone,
Good morning & happy Friday! Today we’re looking into 𝕏’s Super App gambit, or how Elon Musk wants to be your bank (what hiring at 𝕏 Money tells us & what to expect next + bonus dives into Elon’s Everything App ambitions & growing challenges from OpenAI), try to understnad why Affirm’s data moat is worth $50 billion (breaking down BNPL leader’s latest financials, understanding what they mean & why you should be bullish on AFRM 0.00%↑ + bonus deep dive into their biggest competitor Klarna), and Coinbase’s new AI-powered debate system (how the FinTech giant implemented AI Agents to strengthen the company’s internal processes & what can we learn from this + bonus dive into Coinbase & the ultimate LLM toolkit inside). Let’s just jump straight into the finnovative stuff 🌶️
𝕏’s Super App gambit: Elon Musk wants to be your bank 😳🏦
The news 🗞️ In addition to massive AI ambitions with Grok at xAI, Elon Musk’s social platform 𝕏 is further accelerating its transformation into a comprehensive financial services hub, aka the Everything App.
A recent high-profile Technical Lead job posting clearly signals that 𝕏 Money has moved from concept to active development. The position, offering $220,000 to $440,000 annually, seeks an architect-level engineer with 8 or more years of FinTech experience to build payment infrastructure capable of serving 𝕏’s reported 600 million monthly active users (that’s about the same number in MAUs as OpenAI’s ChatGPT).
Let’s take a quick look at this, understand why it matters, and how it fits into the broader vision Elon Musk had since he acquired Twitter in 2022.