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Speaker 1: What are your money where your tweets are? Sounds convenient,

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Speaker 1: bud Mixing finance and social media also means risk. When

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Speaker 1: finance gets social, you gotta watch out for security, regulation

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Speaker 1: and whether users really trust it with their money. You've

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Speaker 1: got Elon Musk who made an announcement about X money.

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Speaker 1: It's a new digital payment and financial service system built.

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Speaker 2: In to the X platform. That sounds kind of scary

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Speaker 2: to me.

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Speaker 3: Really, yeah, you don't want you don't want your credit

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Speaker 3: card information being part of your your your Twitter X account.

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Speaker 3: I get that this is something Elon has wanted to

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Speaker 3: do for a long time, pretty much ever since he

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Speaker 3: sold PayPal. So keep in mind if you were to

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Speaker 3: where you know, Elon Musk was one of the original

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Speaker 3: founders and workers at PayPal before they went Actually he

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Speaker 3: was part of the part of the original ex but

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Speaker 3: you get what I'm saying. He was part of that

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Speaker 3: group of PayPal, and he's wanted to get back into

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Speaker 3: kind of the money and finance thing. So think of

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Speaker 3: this as something similar to PayPal or Venmo or cash app.

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Speaker 3: You'll be able to send money to friends via the

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Speaker 3: X platform. But what I think the real game changer

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Speaker 3: here is you'll be able to purchase items right there

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Speaker 3: on the platform. So what you'll see likely going forward

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Speaker 3: is you'll see a lot more shopping happening on Twitter.

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Speaker 3: So people put up stores on Twitter, and then I

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Speaker 3: can use my X money which is what they're calling it,

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Speaker 3: to just make that purchase right there within the Twitter

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Speaker 3: platform and not have to leave or have a pop

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Speaker 3: up come up, or I have to log into my

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Speaker 3: credit card or my bank account to make the payment. YEP.

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Speaker 2: It's designed to let you to send and receive money

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Speaker 2: sore funds in your digital wallet. There also manage payments

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Speaker 2: directly inside the X app and musk. His goal is

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Speaker 2: to turn X into an everything app, a single platform

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Speaker 2: for everything, messaging, social networking, payments, and potentially even more

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Speaker 2: financial tools. He has early public access set to begin

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Speaker 2: next month, and they're transitioning for making it a testing

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Speaker 2: role model into a real world use model. They've partnered

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Speaker 2: with Visa to secure these licenses in a lot of

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Speaker 2: US states, and that is to enable regulated peer to

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Speaker 2: peer payments and transfers. The whole thing sounds absolutely scary

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Speaker 2: to me though, because when I think of X, I

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Speaker 2: think of you know, cat turd and what's on.

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Speaker 3: His mind, and people's accounts getting hacked, and you know

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Speaker 3: crazy AI videos showing you know, a ran blowing up

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Speaker 3: US aircraft carriers, which clearly never happened. I think there's

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Speaker 3: certainly you go into this cautiously, but this is where

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Speaker 3: social media is moving, and TikTok has shown us the

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Speaker 3: path on this. The TikTok shop has been around for

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Speaker 3: a couple of years now, and that is a massive

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Speaker 3: revenue generator, not only for TikTok the app itself, but

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Speaker 3: I'll so content creators on piktop, you see they just

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Speaker 3: say link below, Yeah exactly. They're like, hey, look at

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Speaker 3: this awesome cheese grater in how I grate cheese so

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Speaker 3: much easier now, My life is wonderful. Click this link

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Speaker 3: to purchase this, and then the content creator gets, you know,

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Speaker 3: a cut of the purchase. That is what you're going

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Speaker 3: to start seeing on x more and more, and I

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Speaker 3: think it wouldn't be so it wouldn't surprise me at

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Speaker 3: all if other social media platforms start going in this direction,

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Speaker 3: sit Facebook and Instagram. Social shopping is what it's called,

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Speaker 3: and that's a word. And TikTok has been massively successful

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Speaker 3: with it, and so it's no surprise that Elon wants

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Speaker 3: to move in this direction. But I'm still amazed every

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Speaker 3: time I think about all that Elon has done with

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Speaker 3: Twitter since he bought it in twenty twenty two. You know,

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Speaker 3: keep in mind, as soon as he bought it in

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Speaker 3: twenty twenty two, fired like eighty to ninety percent of

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Speaker 3: the staff, which, by the way, Twitter was never making

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Speaker 3: a regular profit before that. You know, one quarter they'd

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Speaker 3: have a profit, in the next quarter they'd have this

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Speaker 3: huge loss. So he cut like eighty to ninety percent

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Speaker 3: of the staff. But then so much innovation. I mean,

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Speaker 3: Twitter really hadn't changed that much in the years before

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Speaker 3: Elon Musk buy is it? Elon buys it? So many

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Speaker 3: things change development, The pay model got instituted, and a

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Speaker 3: lot of people had a lot of problems with that.

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Speaker 3: But now it's just kind of become commonplace for a

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Speaker 3: lot of things that He's really done a lot of

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Speaker 3: innovation on that app in a short period of time,

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Speaker 3: and this is this is what's next for Twitter.

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Speaker 2: A lot of people look at x as more of

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Speaker 2: a news platform delivery, and I'm wondering, You've got influencers

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Speaker 2: who are now going to be peddling products and maybe

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Speaker 2: an X shop like TikTok. Is it going to completely

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Speaker 2: change the app and how people view it people.

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Speaker 1: View it as a news source.

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Speaker 3: Well, it's certainly changed the way TikTok is used and

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Speaker 3: the type of content that's created around TikTok is now

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Speaker 3: so much TikTok content is around shopping, TikTok shop and

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Speaker 3: social shopping, so it's certainly going to move into there.

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Speaker 3: I think this is probably going to be a niche

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Speaker 3: area that will be cut out that people will use

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Speaker 3: Twitter for. But like you're right, I think the vast

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Speaker 3: majority of people will still use Twitter as kind of

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Speaker 3: a news feed. Hey, I want to know what's happening

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Speaker 3: in the world right now, and that's what I use Twitch.

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Speaker 2: You still haven't made that jump, Huh. You just called

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Speaker 2: it Twitter long? How long?

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Speaker 3: How long do you give it forever? By the way,

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Speaker 3: this will this is America. I still call it the

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Speaker 3: Sears Tower. I'm never gonna call it Willis Tower. No,

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Speaker 3: when you name something and it gets ingrained in our

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Speaker 3: culture and it becomes iconic, don't just try changing the

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Speaker 3: name and expect me to go along with it. No,

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Speaker 3: it's still Twitter, and it's still the Sears Tower to

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Speaker 3: He's Gonna take a minute.

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Speaker 2: You're listening to ninety three WYBC