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Elon Musk's X Money Plan Hindered by Regulatory Agencies and Employee Departures

Summary: According to reports, Elon Musk's X Money plan, aimed at disrupting and replacing traditional banks and payment processors, has been hindered by regulatory agencies and employee departures. Musk's ambition includes utilizing technology to revolutionize the financial sector. However, his management philosophy of urging employees to develop products quickly and cost-effectively is conflicting with this goal ...

According to reports, Elon Musk's X Money plan, aimed at disrupting and replacing traditional banks and payment processors, has been hindered by regulatory agencies and employee departures. Musk's ambition includes utilizing technology to revolutionize the financial sector. However, his management philosophy of urging employees to develop products quickly and cost-effectively is conflicting with this goal internally at X. Musk's desire for X to swiftly launch a nationwide payment service has led to regulatory obstacles and subsequently triggered a wave of senior staff departures.

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