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Elon Just Bought A Lot Of Data by taskmaster4450

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hive-167922 · @taskmaster4450 ·
$73.57
Elon Just Bought A Lot Of Data
Much is being made about Elon Musk's purchase of Twitter.  Certainly it is news here on Hive, for obvious reasons.  In these articles, we opined how the "everything app" is putting him squarely in the realm of Hive.  We are a [decentralized](https://leofinance.io/@leoglossary/leoglossary-decentralization) database that already has some decentralized finance built in.  At the same time, the blockchain has a native [payment](https://leofinance.io/@leoglossary/leoglossary-payment) system, something Musk is going to have to incorporate.

Many have stated the $40+ billion he (and his investors) paid is ridiculous.  From the standpoint of a [social media](https://leofinance.io/@leoglossary/leoglossary-social-media) application, this is correct.  However, when we look at Musk's belief from 22 years ago that the X-App could have become the largest [financial institution](https://leofinance.io/@leoglossary/leoglossary-financial-institution) in the world, we see a different outlook.

There is something else that could be factoring into this equation: data.

Elon Musk just acquired a database that started 15 years ago.  Each day, there are more than [500 million Tweets](0https://www.dsayce.com/social-media/tweets-day/) sent out.  This is a lot of data being regularly added.

![image.png](https://images.hive.blog/DQmdo5P9viMhwEhRDs9wN93XdMFsyDgde2gYUn9JsPJhPww/image.png)
<center>[Source](https://www.simplilearn.com/ice9/free_resources_article_thumb/What_is_Data_Types_of_Data_and_How_To_Analyze_Data.jpg)</center>

### Elon And AI

[Tesla's](https://leofinance.io/@leoglossary/leoglossary-tesla) foray into self driving is heavily dependent upon its ability  to accumulate targeted data and properly label it.  Cleaning up all that is provided is vital for any AI system.  It is safe to assume that Musk, and his team, are experts at this by now.

While Musk has not achieved fully autonomy when it comes to cars, many feel is he is far ahead of everyone else.  Time will tell if this is the case but it is hard to debate the success they had so far.

Now he has access to the Twitter [database](https://leofinance.io/@leoglossary/leoglossary-database).  How much data is just sitting there waiting to be parsed?  This could be much bigger than just selling it to advertisers.  He could be embarking upon a situation whereby he uses Twitter to train AI systems.

He is very open about his desire to create a humanoid bot.  To achieve this end, he is going to have to have a great deal of data for training.  It appears he just acquired a few Gigabytes of that.

Perhaps this might explains the 50 or so Tesla engineers who are reportedly involved with Twitter at the moment.

Either way, we can expect Musk and his team to start using all the data that was freely provided by the userbase for purposes other than just selling some advertising.

It appears this deal was not as bad as many are making it out to be.

### Using Hive Data

One of the reasons for this viewpoint is there are discussions about doing something like this on [Hive](https://leofinance.io/@leoglossary/leoglossary-hive-glossary). Hopefully in the next couple weeks there will be an announcement of a new project that uses Hive data to train some AI systems.  This will evolve into a useful [application](https://leofinance.io/@leoglossary/leoglossary-application) for people to use.

Thus, the worthwhile data placed into the database, the better this system will operate.

Over the last few months we discussed how crucial it is to look at Hive as a decentralized, permission-less database.  As we can see, these have tremendous value.  Is Twitter's worth $44 billion?  It is hard to put a [price](https://leofinance.io/@leoglossary/leoglossary-price) tag on things like that.  However, it is possible to see how Musk could create something worth a lot more than that.

It is the same for Hive.  All the data on the blockchain is part of the value.  Now it is a matter of putting some of it to use.  So far, the applications doing this have been relatively rudimentary.

Hopefully, we can see this taken to another level.

There is also a larger lesson in this.  Whatever we put online is going to be training data.  Each Tweet, post, comment, or upvote ends up as categorized.  When humans talk about AI taking control, remember we are the ones who trained them.  Also, as evidenced here, we are also the ones who offer up the training material.

### Hive's Path Is Unfolding

We often write how "Hive solves this".  Here is another example of where we see Hive having value that is overlooked by most in the marketplace.  Can [Bitcoin](https://leofinance.io/@leoglossary/leoglossary-bitcoin) do this?  It is a distributed ledger but only offers up financial [transactions](https://leofinance.io/@leoglossary/leoglossary-transaction), more like a [bank](https://leofinance.io/@leoglossary/leoglossary-bank).  Ethereum does contain a bit more yet that did not really evolved into the realm Hive did.

Immutable [data](https://leofinance.io/@leoglossary/leoglossary-data) is something people talk about on Hive.  The key to this, from the perspective of this article, is the data part.  Hive has it.  We are dealing with a database of hundreds of GB (50% of the size pre-[hard fork](https://leofinance.io/@leoglossary/leoglossary-hard-fork) due to compression changes) worth of real world information.  This is not just a recording of coins moving among the different [wallets](https://leofinance.io/@leoglossary/leoglossary-wallet).

As we analyze the different aspects to what is taking place around us, we see how much Hive is emerging as a centerpiece.  How many other [blockchains](https://leofinance.io/@leoglossary/blockchain) can you find that offer the same kind of data as Hive?

Is this something that can be leveraged for massive value?

If you believe that bots, AI, and machine learning are the future, then it is easy to see how our expanding database is making Hive more valuable by the day.  While it might not rival Twitter, it can be a centerpiece for development that surpass most of what is involved in [cryptocurrency](https://leofinance.io/@leoglossary/cryptocurrency).  

Suddenly, the discussion switches from how much is stored on Hive to what is being posted there.  When we compare to the rest of the blockchain world, we see something completely different unfolding.

This is one of the paths of [Hive](https://leofinance.io/@crypto-guides/what-is-hive-crypto-hive).  Things are evolving right before our eyes.

___
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vote details (912)
@candy49 · 
General Motors has suspended it's advertising on Twitter precisely because Musk will actually know more about which type of Twitter user interacts with GM ads than GM will - and who wants to hand that kind of data to their competitor?
πŸ‘  
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@cryptoknight12 ·
$0.07
I think Elon is why the crypto currency market will recover sooner than expected.
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@taskmaster4450le ·
RE: RE: Elon Just Bought A Lot Of Data
It could be although I still stand by crypto is risk on.  When the sentiment is to take on more risk, crypto will run.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-cryptoknight12-3dnovg)
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@gadrian · 
Seems that Elon Musk's purchase of Twitter has a great side effect for us on Hive to kick us into a higher gear.
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@gamsam ·
$0.03
Data has always been the real digital hold and hive is a large brewing gold getting riper by the day.
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@taskmaster4450le ·
RE: RE: Elon Just Bought A Lot Of Data
It is one part of the equation.  The other is to take the data and do something with it.  Hive can also help in this area.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-gamsam-3n3zxg)
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@hivebuzz · 
Congratulations @taskmaster4450! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):

<table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@taskmaster4450/upvoted.png?202211062128"></td><td>You received more than 1530000 upvotes.<br>Your next target is to reach 1540000 upvotes.</td></tr>
</table>

<sub>_You can view your badges on [your board](https://hivebuzz.me/@taskmaster4450) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub>
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@india-leo ·
Indiaunited Curation 1667743076265
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@jeremiahcustis · 
What would we call the HIVE AI? H-mind?
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@jfang003 ·
RE: Elon Just Bought A Lot Of Data
I am just wondering what he plans to do with the data because it won't really help his auto driving system for Tesla. I guess it could help him figure out some personal preferences for people and some improved AI on words though but Twitter was already kind of public so people could scrape the data anyways.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-taskmaster4450-5horci)
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@joetunex ·
$0.03
RE: Elon Just Bought A Lot Of Data
Focusing on the $40 billion Twitter acquistion by Musk might be a myopic view of what he can do with Twitter, the guy most probably has some plans with Twitter could see him profit more than the $40 billion. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@joetunex/re-taskmaster4450-5vhmp9)
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vote details (1)
@offgridlife · (edited)
He will make that back in Dogecoin upvotes on Twitter.
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@joetunex ·
RE: RE: Elon Just Bought A Lot Of Data
Lol it will be interesting to see proof of brain on Twitter

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@taskmaster4450le ·
RE: RE: Elon Just Bought A Lot Of Data
The guy obviously has his eyes set on being the largest financial institution in the world.  Look at the market cap of those and then it is easy to see how the price he paid could be a steal.

Add in the payment syste, social media, and commerical potential and he could end up with a powerful app.

That is what we have to build on Hive.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-joetunex-69yihu)
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@bil.prag ·
$0.07
there is an interview where he mentions how great We chat is in China. And my understanding is that We Chat is used for everything there.

Tesla is a data company as much or even more then a car company. Amount of data they are gathering and processing is pretty big. they do train AI with it and are pretty good at it. So it could be a lot of noise on twitter but there is a lot of data that they could and will use.
πŸ‘  , , ,
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vote details (4)
@kennyroy · 
One thing I can hundred % sure of. No one can step on the moon! And no one can stay longer on the moon because of the heat of the sun and there is no barrier on the moon to protect us from the heat o the sun. That is my message to ELON MUSK. lol
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@pero82 · 
I dunno, I never liked when one person holds that much power (or money), no matter how good his intentions may be. 
Power corrupts all, even the purest heart.
πŸ‘  
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vote details (1)
@pixresteemer · 
<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 130 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-129-and-start-week-130) just started...you can now check the winners of the previous week!</center><center>!BEER</center><center><sub>7</sub></center>
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@pizzabot · (edited)
RE: Elon Just Bought A Lot Of Data
<center>πŸ• PIZZA !


I gifted <strong>$PIZZA</strong> slices here:
torran tipped taskmaster4450 (x1)
@rzc24-nftbbg<sub>(3/5)</sub> tipped @taskmaster4450 (x1)


<sub>Join us in <a href="https://discord.gg/hivepizza">Discord</a>!</sub></center>
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@poshtoken · (edited)
$0.14
https://twitter.com/27706436/status/1589358903858712576
https://twitter.com/1415155663131402240/status/1589436608394428416
https://twitter.com/494429019/status/1589705568888926208
https://twitter.com/1162007468005871616/status/1589733957213761537
https://twitter.com/1335995374528507907/status/1590066139337723904
<sub> The rewards earned on this comment will go directly to the people( @seckorama, @rzc24-nftbbg, @successforall, @cageon360, @dragon-ti ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
πŸ‘  
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vote details (1)
@rzc24-nftbbg ·
RE: Elon Just Bought A Lot Of Data
> Hopefully in the next couple weeks there will be an announcement of a new project that uses Hive data to train some AI systems.

Is this something new when it comes to a blockchain project? Have other networks done it before?

> Whatever we put online is going to be training data. Each Tweet, post, comment, or upvote ends up as categorized. When humans talk about AI taking control, remember we are the ones who trained them. Also, as evidenced here, we are also the ones who offer up the training material.

I never saw it that way. How does this insight suppose to affect our online activity? 


Oh! I raised my questions too early only to realize that you have answered them in the closing section. Thanks!

!PIZZA

!CTP



Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@rzc24-nftbbg/re-taskmaster4450-71qsg9)
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@thelogicaldude · (edited)
$1.66
I am still looking at Elon with a my hand on my holster, lol. Seems like he wants to be the savior of the planet, which if you want to get biblical about it… so did the Antichrist, lol. 

I think him having control over the Twitter database can be dangerous. I am back to really focusing here and using Twatter for a post shill spot. 

Just saying keep your head on a swivel. He bought Twitter for 44 billion when it would really take like 6 or 7 billion to end world hunger... So are his priorities really that noble?
πŸ‘  , , , , ,
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vote details (6)
@taskmaster4450le ·
RE: RE: Elon Just Bought A Lot Of Data
Musk never hid the fact he was a business person.  And pay $6 billion to feed the world, and then what.  You are out $6 billion and people will be hungry again.

Arguing for more handouts doesnt make sense.  There is no doubt what he is creating is not decentralized, nor will it ever.  This is not in Musks values.  He believes in regulation, government, and compliance.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-thelogicaldude-76feje)
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@torran · 
!PGM
!PIZZA
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@pgm-curator · 
<center>Sent 0.1 PGM - 0.1 LVL- 1 STARBITS  - 0.05 DEC - 15 SBT - 0.1 THG - tokens to  @torran</center>

<center><sub>remaining commands 9</sub></center>


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5000 PGM IN STAKE = 2x rewards! 

![image.png](https://files.peakd.com/file/peakd-hive/zottone444/23t7AyKqAfdxKEJPQrpePMW15BCPhbyrf5VoHWxhBFcEcPLjDUVVQAh9ZAopbmoJDekS6.png)
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***
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@xplosive ·
$0.07
> Many have stated the $40+ billion he (and his investors) paid is ridiculous.

Seeing how many people are using Twitter every day, and how much data is going through Twitter, probably he will earn that money back, and he will make profit. He is a businessman, an investor. One of the most richest people on Earth. So he know what he is doing.
πŸ‘  , , ,
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vote details (4)
@taskmaster4450le ·
$0.02
RE: RE: Elon Just Bought A Lot Of Data
If he becomes one of the largest finnacial institutions in the world, then yes he will make it back many times over.

We on Hive have to, at a minimum, provide an altnerative to his centralized mega app that he is looking at building.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@taskmaster4450le/re-xplosive-t9ea6)
πŸ‘  ,
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