Despite these challenges, X has secured $1 billion in new equity, raising its value to $32 billion, although still below the purchase price Musk paid. The company continues to hire new engineers, including xAI tech leads, while Musk's focus has shifted towards the DOGE initiative and xAI. This shift in focus has coincided with political influence that has attracted new funding, which X plans to use to reduce its debt.
Key takeaways:
- Haofei Wang, director of engineering at X, has left the company suddenly, highlighting a trend of recent high-profile departures.
- CEO Linda Yaccarino is working to rebuild X's communications and marketing teams after significant staff reductions following Elon Musk's takeover.
- Elon Musk's focus on DOGE and xAI initiatives has potentially distracted him from X, but has also attracted new funding for the company.
- X recently secured $1 billion in new equity, raising its value to $32 billion, still below the purchase price by Musk.