Latest news with #hyperloop
Bloomberg
6 days ago
- Business
- Bloomberg
Musk's Boring Co. Burns $900M, Delivers Tunnels, Not Hyperloops
Nearly a decade after Elon Musk launched Boring Co. with promises of ultra-fast hyperloop-powered transportation, the tunneling venture has little to show. Despite pitches to cities like San Jose, Nashville and even Dubai,just one of Boring Co.'s public proposals have progressed beyond the planning stage. To date, the company has only begun construction in Las Vegas, and while the city has approved 68 miles of tunnels, Boring has dug about eight miles, with fewer than four miles currently operational.
Bloomberg
31-07-2025
- Automotive
- Bloomberg
Elon Musk's Boring Co. Is Turning Into a $900 Million Flop
Nearly a decade ago, the billionaire said he'd build a hyperloop. Since then, he's mostly built tunnels for Teslas and his own employees. During an all-hands meeting Elon Musk led at the Boring Co. last year, he spent most of the time talking about how Donald Trump's election would be a boon to SpaceX, according to former employees. There was little mention of his tunneling venture and its prospects, and they said he left the September meeting without visiting Boring's factory. That's a far cry from how Musk first hyped Boring nearly a decade ago. He vowed to build a futuristic, ultra-fast underground hyperloop as a revolutionary solution to the world's 'soul-destroying' traffic problems, raising more than $900 million from the likes of Sequoia Capital and Peter Thiel's Founders Fund.
