Want to travel in a near vacuum at 700 miles per hour? Then this is great news for you. Elon Musk has decided that he will make his idea of Hyperloop work by himself. He invested 4 years in encouraging everyone to try to make Hyperloop. The Boring company got verbal government approval to make a Hyperloop tunnel between New York and Washington, DC. When WIRED asked Musk via Twitter who might build the Hyperloop that would fill that tunnel, he replied The Boring Company.
At the Boring Company, we plan to build low cost, fast-to-dig tunnels that will house new high-speed transportation systems. Most will be standard pressurized tunnels with electric skates going 125+ mph. For long distance routes in straight lines, such as NY to DC, it will make sense to use pressurized pods in a depressurized tunnel to allow speeds up to approximately 600+ mph (aka Hyperloop). – spokesperson.
But it will be a brain crusher for some people who have invested their 4 years in this idea, and now they are finding Elon Musk competing with them. But as an industry, it is great news.
The industry can’t get built by any one company, and to have a heavyweight like Elon put his hat in the ring says a lot of good things, it validates the market and the idea that the tech can create some real value for people. – Brogan BamBrogan, Founder of Hyperloop Company Arrivo.
In August 2013, Elon Musk came up with an idea and presented a white paper describing a long-distance, high-speed transportation system that would send pods full of cargo or people through a near-vacuum at 700 miles per hour. He called it Hyperloop. The authors encourage all members of the community to contribute to the Hyperloop design process, Musk wrote in the paper. Some companies have emerged in this industry after Elon’s paper, like Hyperloop One, Hyperloop Transportation Technologies, Transport, and Arrivo.
So, there is a lot of competition emerging in the industry. In theory, Musk could snuff out his competition.
But Hyperloop companies aren’t worried.
The more people involved, the more capital will flow, the more we’ll all make progress. -Ahlborn.
It is somewhat different from other businesses.
Because these companies are talking about something that is sufficiently disruptive, their primary concern is execution, and finding the places where they can run the experiment to prove out the technology and refine it, In that regard, having a new competitor at scale has a marginal impact on the likelihood of success. -William Sahlman
He teaches entrepreneurial management at Harvard Business School.
Everyone concerned with creating the hyperloop a reality says that a technology that started as a team effort remains a team effort. however, don’t be stunned to visualize a bit of scrapping behind the scenes. In the US, it won’t be the bread and butter for Elon to build a Hyperloop. It will require a lot.