Pretty much he wants to turn X/Twitter as WeChat’s clone for the West.
As WeChat is both a messaging and payment app used by a couple of hundreds of millions of users in China where people can send money, split bills, pay, etc. using the app.
Visa and MasterCard are extremely profitable companies enjoying really high margins and having very little competition. And this is very lucrative business:
66% operating profit margin for Visa and 55% for Mastercard (four-year average). 51% net profit margin for Visa and 45% for Mastercard (four-year average). 50% per annum return on capital employed for Mastercard and 21% per annum for Visa (11-year average).
Pretty much he wants to turn X/Twitter as WeChat’s clone for the West.
As WeChat is both a messaging and payment app used by a couple of hundreds of millions of users in China where people can send money, split bills, pay, etc. using the app.
Visa and MasterCard are extremely profitable companies enjoying really high margins and having very little competition. And this is very lucrative business: