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Elon Musk has no luck with the “Hyperloop” project. Photo: Boring Company
The transportation startup Hyperloop One, founded by Elon Musk, could be on the verge of collapse. It is said that after initially raising about half a billion dollars in investments, the company is now laying off most of its employees and trying to find buyers for the test track near Las Vegas.
The company’s big idea was to carry passengers at enormous speeds through low-pressure tubes. Unfortunately, this ambitious goal could not be achieved.
1 comment
It’s important to note that Elon Musk popularized the concept of a hyperloop (in 2013) and has been supportive of its testing – particularly amongst university students. He is not directly involved with Hyperloop One or Virgin Hyperloop One. Have a look at the USA patent from 1999, for Evacuated Tube Transport (ET3) as being perhaps the most relevant modern-day thinking about of this type of transportation. There are multiple worldwide companies that are still reviewing the possibility of Hyperloop it’s too early to say if it will be adopted or abandoned. Industry consolidation should be expected as testing and feasibility is evaluated.