Elon Musk: “My guess is that [making payment categorization codes…”

“We're not judging the quality of the explanation, but there should be some explanation for what this payment is for. Above nothing. That's a radical change to the system that is being implemented now. My guess is that [making payment categorization codes mandatory] probably saves 100 billion a year. Jesus Christ. Where does that money go? Rough order of magnitude. Where was that money going? Well, so this is where you get into the sort of gray boundary between waste and fraud.” (29:53–29:57)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.