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“You won’t need a bank account”. Musk’s plans for X

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Tech mogul Elon Musk has granted a group of X employees one year to transform their existing app into a full-fledged finance platform.

Musk’s vision is bold: he aims to create a financial ecosystem so comprehensive that individuals won’t need traditional bank accounts.

The employees, handpicked by Musk, will work relentlessly to expand the app’s capabilities. Musk believes that with their expertise and innovation, they can provide services ranging from payments and savings to lending and investing, all within the confines of a single app.

Musk’s decision has sparked curiosity and excitement in the tech world. Can this team of talented individuals achieve what traditional banks have offered for centuries, and can they do it in just one year? The clock is ticking, and the financial industry is watching closely.

This audacious endeavor raises several questions: What will this new finance platform offer that traditional banks cannot? How will it address security and regulatory concerns? Can it truly replace the need for a conventional bank account? Will other tech giants follow suit in disrupting the financial industry? And finally, what impact will this have on the future of finance and banking?

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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