Elon Musk Launching TwitterPay as AFFIRM Collapses (UGLY!).

hey you want a blue check mark on

Twitter you can literally I get it now

not an ad for Twitter but if you go

under Twitter Twitter blue boom it's

there you pay 7.99 boom I'm seeing so

many people with verified check marks

right now and it's so funny because the

verified tab on Twitter where people

like if they type a response to you

where they like your post or something

and you get notifications when verified

people reply it's like blowing up right

now it's awesome like go get your blue

check mark But now let's get into the

topic of the video oh we've got a lot to

talk about in this one from Twitter pay

to Elon Musk selling shares of Tesla and

a firm Twitter pay could it be possible

could it be possible that at some point

in the near future you could buy meet

Kevin courses on Twitter using Twitter

pay and Twitter could process the

transaction rather than say Visa or

PayPal or teachable or stripe processing

the transaction and Twitter could

actually Harvest maybe a nice little one

and a half to two and a half percent fee

off of every single dollar well I guess

uh yeah I guess every single dollar that

somebody makes paying for amazing

courses on building your wealth or the

new business course for elite Hustlers

link down below the Black Friday coupon

code yes it's actually quite possible

take a look at what was just released

from the treasury Department that has to

do with Twitter and Elon you ready for

this

it's not this document but this is to

get you familiar look at this this is

the fincen uh it's a department within

the treasury uh and this is a

registration statement for payment

transmitters and look at this one here

is a payment transmitter application uh

and a renewal application in this case

for the Google payment Corp and they're

doing business as names so they're dbas

Google payments and Google pay so like

Apple pay Google pay right they process

the transaction so they take a small

little fee well look at what was just

filed folks what do we have here initial

registration

Twitter payments LLC no DBA yet but uh

you know what let's just for Giggles

fill this one in here 2 Twitter pay come

on what else would it be called tweet

pay twitpay I don't know anyway uh this

registration was just released here you

can see here on November 9th we have

this release out uh note that a

transmitter is not I wrote I wrote these

notes right here a transmitter is not a

bank it is a merchant payment processor

so again think affirm Apple pay Google

pay and uh these are companies that

clear payments and then they remit funds

to a merchant uh there's some other

definitions there are remittance rules

and then there are a lot of regulatory

rules that you have to follow regarding

this but it's really interesting because

it just shows that even though Elon Musk

has now laid off about half of the staff

at Twitter calling back some people who

are accidentally fired uh Elon moves

quickly I'm a really big fan of of

people like that who move quickly it's

just it's not that hard to file for an

LLC it's not that hard to do a DBA or a

trademark it's just not that hard these

are a lot of things we're going to be

talking about in the the elite Hustler's

course by the way which is pretty cool

comes with uh four times a month live

streams special live streams but also

Daily videos daily added lectures uh for

analyzing individuals businesses or

their entrepreneurial Endeavors but it's

just not

some of this stuff

I like the fact that Elon is in at

Twitter and is saying hey let's just

start getting the foundation set for

everything that we want we want to do

payments start the filing process now

because these application processes to

be money transmitter these are going to

take a while it just shows that the

initial intent is hey within the first

week set the foundations get rid of the

people we don't need if we fire too many

we could always call them back because

then you start seeing like what's

breaking oh you fired that person okay

we'll call them back that's actually not

a bad idea now that has led to a lot of

complaints for Elon Musk and literally

as I'm recording this video Elon Musk

just sent a tweet suggesting he is the

complaint hotline operator yes here it

is look at that uh 840 I'm filming this

at 8 43 complaint hotline operator

online please mention your complaints

below

living the dream anyway uh so

look we know that Elon Musk just sold a

nearly 20 million uh 20 million shares

of Tesla uh and we've seen a lot of pain

for Tesla stock over the last few days

which has led a lot of people wondering

like oh my gosh what's going on have

have the fundamentals broken no it's

it's Elon absorbing a lot of the

liquidity uh and that's unfortunate and

it's led to some pretty gnarly pain

which could contribute to retail

capitulation Bank of America mentioned

that last week retail and institutions

at least through Bank of America were

net sellers

yikes that's not great that's

capitulation uh and unfortunately with

this uh this election on ease and

uncertainty it's uh it's worse uh we're

getting worse it does make me want to

touch on a firm a little bit I have to

say I'm quite disappointed with a firm a

firm isn't being as transparent as they

should be this morning in our course

member live stream we analyzed what's

going on over at a firm and they compare

their total Network Revenue to last year

but then when you go to the last

quarter's earnings report they don't

break out the fourth quarter earnings uh

and this is technically q1 which is

super confusing but anyway they don't

break out the fourth quarter earnings so

I went back and just subtracted out Q3 2

and 1 from their annual numbers and look

what I found it looks like it looks like

a firm actually saw a network Revenue

decline by 6.5 percent quarter over

quarter no wonder the stock is

performing terribly because their

network is actually shrinking at the

same time they increase their marketing

spend year over year from 64 million

dollars to 164 million dollars that's

over a two and a half X increase in

marketing spend and on top of that folks

they have increased on average if you

divide the their annual operating uh

marketing spend for last year into

quarters this last quarter had roughly

24 percent higher advertising spend than

last quarter and in the quarters of last

year yet their revenue

declined quarter to quarter that's

really bad and now they're going to

compare to 2021 where we had really no

fears of a recession coming and they're

going to somehow suggest that loan loss

reserves are going to be exactly the

same as last year

I think they're smoking crack now this

I'm putting this here together with this

uh note about uh Twitter because you

know elon's wanted to get into Payment

Processing

but payment process I mean maybe maybe

it's just the time to start at the

bottom of the market right but um right

now Payment Processing uh just seems

like um yeah I guess something you want

to maybe lay the foundations for in a

recession and then kind of ride the wave

up but right now it seems like things

are more likely to be trending down in

the world of payments and payments

Revenue now the good news is a Twitter

payment system wouldn't really need

advertising uh at least you'd think much

like uh much like Tesla doesn't need

advertising although then again it'd

probably be good to spread the word with

advertising to Merchants and creators

who want to sell things so so there

would certainly be some expensive labor

involved in doing that but uh Payment

Systems right now I don't know uh

financially a firm complete disaster not

impressed at all with that earnings

report if anything I think some parts of

it were quite misleading uh and uh yeah

hey Elon maybe the time to do it is at

the bottom of the market but otherwise

other Payment Systems not happy about

right now again Elon probably says it

best when he just tweeted please note

that Twitter will do lots of dumb things

in the coming months we will keep what

works and change what doesn't