Ark's Cathie Wood bets Elon Musk will make Twitter a'super app'
By The Exchange Team
Cathie Wood, founder of Ark Invest, believes Elon Musk's vision for Twitter is on to something.
Wood said at the Web Summit technology conference in Lisbon, Portugal, "He wants to make it like WeChat Pay."
Wood was referring to the Chinese messaging app WeChat's digital payments service.
WeChat is the archetype of "super applications" that serve instant messaging, banking, and travel demands.
Musk has suggested making Twitter a super app. Last month, he stated that owning Twitter "accelerated inventing X, the everything app."
“Remember [Musk] started in the payments industry ... he sold his company to PayPal,” Wood said.
“He and [Twitter co-founder] Jack Dorsey working together, I think, could turn this into a super app.”