The Boring Company is an infrastructure initiative owned by Elon Musk. Despite its unusual name, the company has some very dynamic plans. One of these elaborate plots (there is always drama where Musk is) involve building an underground hyperloop between New York and Washington DC.
The Department of Transportation in Washington, D.C., has given preliminary permission to start digging at an abandoned lot in the northeast part of the city.
A Hyperloop is a mode of transportation that uses pods to carry passengers and cars in a tube with a partial vacuum at speeds of around 800 miles per hour, reducing travel time to a fraction of current levels. The stations in a hyperloop system are smaller in size and very different from the regular train terminals.
The proposed project by Musk to build an underground hyperloop between New York City and Washington DC is said to have received government approvals. The Department of Transportation, Washington DC, has given preliminary permission to start digging at an abandoned lot in the northeast part of the city.
The Boring Company is collaborating with an unnamed organization, presumed to be Hyperloop One, to build the Hyperloop between NYC and Washington DC. The line, which will have stops at Philadelphia and Baltimore, is expected to reduce travel time to around 30 mins.
Further details of construction plans are unclear, and the project is still in the stage of infancy. Needless to say, this would be a colossal leap in the area of transportation.
This project is not the only one of its kind. The Boring Company has already started work on a test tunnel beneath the headquarters of Musk’s SpaceX company in California. The company is also seeking approval for a 6.5-mile tunnel underneath Los Angeles to be used for testing all the systems, processes and equipment involved in building these tunnels.
PayPal Holdings Inc. (NASDAQ: PYPL) reported stronger-than-expected earnings and revenues for the first quarter of 2021. Shares of the payment service provider gained during Wednesday’s extended trading session soon after
Twilio (NYSE: TWLO) reported first quarter 2021 earnings results today. Revenue increased 62% year-over-year to $590 million. GAAP net loss widened to $206 million, or $1.24 per share, compared to
Uber Technologies (NYSE: UBER) reported first-quarter 2021 financial results after the regular market hours on Wednesday. The ride-hailing company reported Q1 revenue excluding the UK accrual of $3.5 billion, up