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X Money payment system hits roadblock in New York

Elon Musk’s X Money hits resistance as lawmakers cite “reckless conduct” and privacy fears. X Money is expected to rival Venmo & Apple Pay.

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Credit: Tesla Owners Silicon Valley (via Elon Musk on X)

The X Money payment system hit a roadblock in New York as state lawmakers urged regulators to deny the company a critical operating license. The payment system is Elon Musk’s bid to launch a person-to-person payment system on the X platform.

Two Manhattan Democrats, Assemblymember Micah Lasher and state Sen. Brad Hoylman-Sigal, sent a letter Monday to New York’s Department of Financial Services, opposing X Corp.’s application for a money-transmitter license.

“What we’re talking about is nothing less than Elon Musk becoming a permanent part of the country’s financial infrastructure — with access to enormous quantities of consumer data, including the data of New Yorkers,” Lasher said. “I think it would be grossly irresponsible and contrary to the law.”

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The lawmakers argue that Musk’s “pattern of reckless conduct” in business and government, including his role in the Trump administration’s Department of Government Efficiency (DOGE), demonstrates a lack of “character and general fitness” required under state law for a money-transmitter license.

New York’s Department of Financial Services “thoroughly reviews all license applications and holds all applicants to identical, robust standards,” said spokesperson Ciara Marangas, declining to comment on X Corp.’s application. State law requires regulators to assess an applicant’s financial responsibility, experience, and trustworthiness.

Musk’s ties to President Donald Trump have intensified scrutiny in New York, with lawmakers like Lasher pushing to pause Tesla’s lease renegotiation for a Buffalo factory and state Sen. Patricia Fahy proposing legislation to close Tesla dealerships. X Corp.’s lobbyists did not respond to inquiries.

Musk aims to transform X into an “everything app” enabling financial transactions alongside media and communication. Once in operation, X Money would rival Venmo, Zelle, and Apple Pay. X Corp. announced a Visa partnership in January to support the system.

Musk noted that license approval for X Money in the District of Columbia, New York, and California would be the most onerous. X Money obtained California’s license in September 2024. As of this writing, X has already secured money-transmitter licenses in 42 states.

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As X Money seeks to redefine digital payments, New York’s resistance could delay Musk’s vision. The outcome will shape X’s ability to integrate financial services and compete in the evolving fintech landscape.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

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Elon Musk

Tesla Full Self-Driving is getting a major parking upgrade, Elon Musk says

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Credit: Tesla

Tesla Full Self-Driving is going to be getting a major parking upgrade. That’s according to CEO Elon Musk, who detailed a crafty new feature that will improve parking preferences, removing a layer of human input.

Musk said that upcoming releases of Full Self-Driving will “remember your parking preferences.” It will go to the location you prefer, based on where you’ve parked in the past, instead of taking the first spot available, which is where the suite is currently.

The CEO went on to explain that destination parking is “by far” the biggest reason for intervention during FSD operation. We’d have to believe this is true; many takeovers in my Model Y, which runs the latest version of FSD as it is in the Early Access Program, are due to parking because it chooses a spot I do not want to be in.

Many times, as soon as I enter a parking lot, I take over and park manually. I prefer to park away from the entrance of wherever I am, away from cars. Too many lessons learned over the years from people with free-swinging doors.

We’d imagine these new updates will also solve things like parking orientation. Let’s say when you arrive at work, you always park in the third spot in the third row, and you prefer to back in. It seems as if Musk is implying that your car will now do this, learning from takeovers and aiming to eliminate the need to manually park whenever possible.

This is a major upgrade because parking is a major shortcoming of FSD currently. We’ve requested things like manual input of parking preferences, choosing to park far away, first available, or away from cars, for example.

However, some have used the option of dropping a pin at the location you’d like to park at your destination. This has worked some of the time, but FSD will still choose to park in whatever it sees first.

Musk did not give a timetable for when the improvements would be released, but it is likely to come soon. Tesla has been releasing a new FSD version every few weeks, so we may not have to wait long to test it.

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Elon Musk predicts Grok will start to challenge Hollywood by the end of 2026

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Gage Skidmore, CC BY-SA 4.0 , via Wikimedia Commons

In a bold declaration on X, xAI CEO Elon Musk announced that its model will be capable of creating full movies by the end of the year. Quoting an xAI post showcasing a stunning AI-generated trailer for Homer’s The Odyssey, Musk simply stated: “Full movies by the end of the year.”

The quoted video, created entirely with the newly released Grok Imagine Video 1.5, demonstrates the rapid strides in AI video generation. Crafted by creator David Thompson, the 2-minute-plus trailer reimagines the ancient epic in the style of a 1970s classical Hollywood blockbuster. It features 36 meticulously consistent shots that form a cohesive narrative world.

Its realistic nature is truly mind-blowing, and it’s pretty amazing to think that it cool to think it could create an entire movie soon.

The trailer reimagines The Odyssey as a whole, and opens with a concept board outlining the vision: a retelling of the story using 35mm film aesthetics, classical framing, and other elements.

There are a handful of things that truly outline Grok’s capabilities:

  • Scale and Physics: A bloodied Spartan helmet rests on a sandy battlefield amid smoke, marching armies, and flocks of birds. Horses gallop, chariots charge, and warriors clash with believable weight and motion.
  • Emotional Depth and Dialogue: Close-ups capture intense expressions, as characters deliver lines like a warrior’s grief-stricken speech on a rocking ship.
  • Cinematic Workflow: It’s hard to believe AI created this trailer, as editing and suspense are clearly detailed in this trailer

Now, why is this a big deal? AI has been a real threat to the way movies have been made over the past several decades. It’s no secret that the various AI platforms out there are becoming more capable, but Musk has said that he believes things would be “watchable” by the end of this year, and by the end of 2027, Grok would be able to create “really good” movies.

There are several issues that remain, most notably the ability to remain cohesive throughout the length of a film, energy requirements, copyright questions for training data, and artistic intent. Hollywood has created some of the greatest cinematic masterpieces over the past 100 years, but 2026 could be the year AI not only assists but also independently authors cinema.

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The Boring Company just doubled its tunneling power in Nashville

The Boring Company’s Prufrock MB2 is commissioned and ready to mine beneath Nashville’s streets.

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The Boring Company’s second tunnel boring machine, Prufrock MB2, is officially ready to dig in Nashville. The company confirmed the news on X, posting: “Prufrock-MB2 is ready to mine in Nashville! MB2 commissioning is complete, including the brief 11 rpm rotation shown here. Will MB2 catch up to MB1, who had quite the head start? And Prufrock-MB3 ships in August!”

MB2 arrives with meaningful improvements over its predecessor. Lessons learned from the launch and operation of MB1 have already been applied to MB2 to improve efficiency and prepare the machine for launch.

Traditional tunnel boring machines operate in a stop-and-go cycle, digging roughly five feet, halt, erect precast concrete segments to line the tunnel wall, then resume. That repeated interruption is one of the main reasons conventional tunneling is slow and expensive. Prufrock is designed to install the tunnel liner simultaneously with mining, eliminating the need to stop every five feet. The machine also skips the need for excavated launch pits. Prufrock arrives on a truck, tilts down, and launches into the ground within 24 hours. And when the tunnel is complete, it emerges from the ground and drives to its next launch site on a trailer, eliminating the need for expensive cranes or pit excavation. The machine is also fully electric and runs with zero people in the tunnel during normal operations, controlled remotely from a surface operations center.

It won’t be long before we hear of another major update on The Boring Company’s Music City Loop project – a planned underground transit network beneath Nashville that would move passengers in electric vehicles through a series of tunnels at highway speeds, and bypassing surface traffic entirely. Nashville was selected in part because of its strong rock conditions that suits the Prufrock machines well, and relatively less regulatory hurdles.

Progress has been steady on multiple fronts. All 37 permits and approvals required ahead of tunneling have been obtained, out of 45 total. Key wins include a fully executed TDOT tunnel permit authorizing 25 miles of tunnel, unanimous airport authority approval for a Nashville International Airport station, and the city’s first residential station agreement serving downtown tower residents.

With MB1 already tunneling, MB2 now commissioned, and MB3 shipping in August, Nashville is becoming something of a live proving ground for scaled tunnel boring. The broader ambition is not limited to one city. The Boring Company’s stated goal is to make underground transportation a practical alternative to surface roads across major metro areas. Nashville is one of many cities, including a successful Las Vegas tunnel system, where that idea is being put to the test at real speed.

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