Why does Elon Musk want to create a “everything app” and what exactly is one?

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Last Updated on October 6, 2022 by Bitfinsider

What exactly does “everything app” entail, and why is Elon Musk suddenly considering making one?

The controversy started on Tuesday after Tesla Inc.’s wealthy CEO changed his mind about declining to acquire Twitter. Musk tweeted late on Tuesday: “Buying Twitter is an accelerant to inventing X, the everything app.” Musk is now willing to move forward with his original plan to pay US$44 billion to acquire the social media business.

Tech businesses from all over the world have attempted to imitate the idea of a “everything app,” also known as a “super app,” which is extremely popular in Asia.

The Swiss army knife of mobile apps, a super app, or what Musk refers to as a “everything app,” offers users a variety of services like texting, social networking, peer-to-peer payments, and online shopping.

According to Scott Galloway, a professor of marketing at New York University and co-host of the technology podcast “Pivot,” these mega apps are commonly utilized in Asia because mobile is the primary method of access to the internet for many individuals in the region.

According to one estimate, the Chinese super app WeChat has more than 1 billion monthly users and permeates every aspect of daily life in China. Users can pay for goods from merchants, send money to friends and family, or hail a car or cab. According to the South China Morning Post, WeChat was being tested in various Chinese cities in 2018 as a mechanism for electronic identity that would be linked to users’ accounts.

Grab, a top mega app in Southeast Asia, provides financial services, investment, on-demand package delivery, restaurant delivery, and ride-hailing.

Musk mentioned that there isn’t a super app like WeChat outside of Asia during a question-and-answer session with Twitter staff in June.

Additionally, Musk could be able to achieve his ambitious expansion plans for Twitter by enhancing its current tools and offerings. Musk stated that he intended Twitter to increase from its 237 million users to “at least a billion” during the staff Q&A.

According to texts released during the discovery phase of the legal dispute between Musk and the social media business, Musk and members of his inner circle discussed the notion of integrating digital payments into Twitter several times.

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