Hyperloop Gets Traction
Elon Musk's Boring Company has announced that full-scale Hyperloop testing will begin later this year. According to the white paper that Musk published in 2013, Hyperloop is a concept for a public transportation system that consists of a low-pressure tube with capsules that travel at both low and high speeds throughout the tube's length.
It states, "The capsules are accelerated via a magnetic linear accelerator affixed at various stations on the low-pressure tube with rotors contained in each capsule.”
The autonomous electric pods, according to the Boring Company, will eventually be able to transport passengers at speeds of over 600 miles per hour. Hyperloop passengers will be able to travel from Washington, D.C., to New York in less than 30 minutes, and from D.C. to Baltimore in less than 8 minutes, according to the company.
Earlier in the week, Musk tweeted:
"From a known physics standpoint, this is the fastest possible way of getting from one city center to another for distances less than ~2000 miles. Starship is faster for longer journeys."
Despite the fact that various firms and researchers have been working for than a decade to construct a Hyperloop-like system, there are currently no commercial applications for one. Musk projected that a Hyperloop passenger and car transit system would cost around $7.5 billion to build at the time the white paper was released.
The Boring Company was founded in 2016 with the goal of solving traffic, enabling rapid point-to-point transportation, and transforming communities through the construction of safe, fast-digging, low-cost transportation, utility, and freight tunnels. The corporation has a market capitalization of almost $6 billion.
Aside from testing a Hyperloop system, The Boring Company is constructing a direct link between the Las Vegas Convention Center (LVCC) and Resorts World on the Las Vegas Strip, which is set to open in the second quarter of 2022.
2018 Musk Unveiled the Hyperloop Transport Concept
The firm has won approval from Clark County, Nevada, commissioners to expand its LVCC Loop system to a 29-mile route with 51 stations, including stops at casinos along the Strip, Harry Reid International Airport, Allegiant Stadium, and the University of Nevada, Las Vegas.
In July, Fort Lauderdale mayor Dean Trantalis agreed to The Boring Company's proposal to construct an underground transit system in the Florida city. If the deal is approved and the loop is completed, it will be The Boring Company's second commercial tunnel system, and the first on the East Coast. Dubbed "The Las Olas Loop," it represents an innovative and unprecedented approach to addressing traffic congestion and transit needs, according to the major. The underground transit circle would allow for faster and more efficient travel between downtown and the seaside while also reducing traffic on the streets.
In March 2021, Musk met with Miami Mayor Francis Suarez to discuss the idea of one of The Boring Company's high-speed tunnels being built in the city. In November 2020, the business hinted about the idea of building a tunnel in Austin, Texas.
On Monday, Elon Musk agreed to buy Twitter Inc for $44 billion in cash, transferring ownership of the social media network used by millions of people and world leaders to the world's richest person. On Monday, Twitter's stock jumped over 5% after the company's board overwhelmingly approved Musk's $44 billion deal to take the company private.
Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of common stock that they own upon closing of the proposed transaction. The purchase price represents a 38% premium to Twitter's closing stock price on April 1, the last trading day before Musk disclosed a 9.2% stake in the company.
Tesla CEO Elon Musk’s biographer revealed that the Technoking was hard at work developing a SpaceX rocket engine hours after successfully purchasing Twitter. Just another day at the office.