Twitter provided a platform in exchange for content.
Users provided content in exchange for access to information and access to networks of content creators.
Elon and the new owner's are breaking a social contract.
User's created all the content to drive its growth.
The vanity publishing model is the idea of a moron. The content creator's were already paying for the platform by providing the content.
Twitter is not going to collapse, despite idiots running it, but the User base may evolve, meaning the active User's may evolve, with now active accounts staying but with those User's going silent and not being counted among active daily Users.
There were competent people who built the infrastructure that runs the site and platform and microservices.
The guys with scala build tools experience at Twitter are competent, although some have departed.
Plus, major banks hold debt and a collapsing Twitter is not good for those large banks.
Elon and his cohort of new owner’s may struggle to service the debt payments associated with the transaction.
Elon and friends want to inflate away their debt and devalue the US Dollar, however.
The guy who runs the # 1 crypto market maker (was #2 behind Alameda) told Bloomberg that the last few weeks have, "rebooted my faith in crypto as something that can replace the future financial system."
Think of it as Global Organized Crime trying to give SWIFT a swift kick in the ass.
Experts were anticipating the possibility that Russia would use the Chinese Communist Party’s (CCP) Digital Yuan in order to bypass payment systems like SWIFT back in March 2022.
https://www.btctimes.com/news/us-senate-moves-against-chinas-cbdc
Russia and Iran were already getting around SWIFT and some sanctions.
If CIPS, China's onshore yuan clearing and settlement system CIPS, were used to settle more trade, it would create a Chinese-yuan driven alternative to the dollar-dominated SWIFT system.
But what if Twitter becomes a way to entice ppl to adopt another payment system using some form of crypto currency?
SWIFT Graphic
Russia's Central Bank National Payment System Department announced in Sept 2022 that Russia’s SPFS interbank messaging system had expanded at record pace in 2022 with 50 new entities from abroad joining the SPFS in Q1-Q2 of 2022, totallng 440.
The System for Transfer of Financial Messages (SPFS), is open to banks from the BRICS nations.
Sometimes I wonder whether useful idiot Elon Musk and Peter Thiel are Russian assets, or does US CIA have a handle on Elon Musk?
They look more like Russian Assets / useful idiots.
From former CIA guys and US Military guys profiting off the Golden Triangle narcotics trade and enlisting Nugan Hand to assist with laundering to In-Q-Tel, which receives funding and directions from the CIA and was founded by the CIA in the late ’90s, to Chain Bridge I, a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of
effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, the global laundromat keeps spinning its laundry.
CIA can't control all the former guys with their own profit motives.
https://theintercept.com/2022/05/05/cia-venture-capital-inqtel-spac/
Let's say Peter Thiel was recruited into the criminal enterprise by Arne Panula at Stanford.
How does CIA keep a handle on recruits and how does Russian or Israeli Intel navigate for influence?
In 2016, as Paul Manafort went to work "for free" for Manchurian Candidate Trump, Palantir Technologies went nuclear: It sued the Army, accusing it of improperly excluding the company from the competition for the next stage of DCGS–A.
Plantir wanted its software on the battlefield.
In court, Palantir’s lawyers, from the high-powered firm Boies Schiller Flexner, accused two Army intelligence officials of having a vendetta against the company that resulted in “six years of bias and prejudice and irrational behavior from the Army.”
Corrupt useful idiot Duncan Hunter, who was the first person from the House of Reps to endorse Trump in 2016, who Trump later pardoned in 2020, worked to scuttle the nomination of one of the officials, Lieutenant General Mary Legere,
who had been slated to become the first woman to head the Defense Intelligence Agency.
Looks like Russian Intel had Mike Flynn working with Duncan Hunter to get Peter Thiel into the Army via software in 2016, even providing the software to army field guys for free to get the buy-in.
Elon Musk, the founder of SpaceX, similarly sued the Air Force in his quest to break into the market for military rockets.
Just days after winning its lawsuit against the Army, Palantir had another stroke of good luck in 2016.
Manchurian Candidate Donald Trump, who had received more than $1 million in campaign and super-PAC contributions from Peter Thiel, "won" the presidential election by losing the popular vote by the largest margin in American history to Hilary Clinton, Putin's arch-rival.
Thiel served on Trump’s transition team, and Palantir suddenly found itself with direct access to top
administration officials.
By June 2017, Trump reappointed Francis Collins head of the National Institutes of Health, and in September 2018, NIH awarded Palantir a three-year contract worth $7 million.
In 2019, Palantir won a ten-year contract for DCGS–A worth as much as $876M.
That same year, the company renewed a multiyear contract with Immigration & Customs Enforcement, where Palantir’s software has been used by the same division that targets the families of immigrants for deportation.
In April 2017, without soliciting any bids from competitors, the Department of Health and Human Services awarded Palantir nearly $25 million to track national COVID-19 data.
And in May, the Department of Veterans Affairs spent $5 million on Palantir’s software to “track and analyze COVID-19 outbreak areas” and to provide timely data on supply-chain capacity, hospital inventory, and lab diagnostics.
Furthermore, by 2019, Michael Kratsios, Thiel’s former chief of staff, was appointed chief technology officer for the White House, where he served as one of Trump’s top technology advisers.
Kratsios was a 33-year-old with an undergraduate degree in political science and became acting chief technologist at the Pentagon, where he replaced Mike Griffin, a former NASA administrator with a Ph.D. in aerospace engineering.
Translation - he was a useful idiot doing reconnaissance, perhaps
unwittingly.
Co-founded by Jack Dorsey, a founder of Twitter (TWTR), in 2009, Square began as a mobile payment processor for small businesses that operate on the go.
In 2011, Stripe, competitor to Square, received investment of $2 million including from PayPal co-founders Elon Musk and Peter Thiel.
By April 2022, Twitter announced that it will partner with Stripe Inc (digital payments processor) for piloting cryptocurrency payouts for limited users in the platform.
“The crypto payments will be routed through Stripe Connect, which will also handle KYC requirements”, Stripe said.
The company announced it is also planning to add options for payment in other cryptocurrencies in the future.
Why did Twitter use Stripe and not Square for the crypto?
Square changed to Block Inc by Dec 10, 2021.
CashApp is owned by Block Inc, formerly Square.
Venmo platform is owned by PayPal.
The PayPal Mafia controls both.
Google Pay is the result of a merger between Android Pay and Google Wallet, and we know who has ownership of Google and how CIA possibly got involved with Google IPO.
Apple Pay Cash is owned and operated by Apple, a competitor.
Why did Twitter use Stripe and not Square for the crypto when Jack Dorsey co-founded Square?
Does it have something to do with the special program Stripe had to help Russian “entrepreneurs” to incorporate US businesses, set up US bank accounts, and “process” payments through Stripe, which is code for facilitating laundering?
Jamie Walters, CAIA
Stringwall John