ELON MUSK'S X RESTRUCTURES AHEAD OF SPACEX IPO

Summary from the TLDR AI newsletter

X let go of its chief marketing officer and conducted a round of layoffs of nontechnical staff over the last several weeks. The company is right-sizing ahead of its parent company SpaceX's potential $1 trillion-plus IPO. Most of the remaining staff at X have been told to focus on growing the company's revenue. The company plans to launch a payments business, X Money, in early public access next month.