Elon Musk’s Pipe Dream Is Over: Hyperloop One Shuts Down

Hyperloop One, Elon Musk’s attempt at futuristic transportation, is officially shutting down, marking the end of a project that aimed to revolutionize travel with high-speed pods.

Electrek reports that Hyperloop One, envisioned as a high-speed transportation solution, promised to whisk passengers and cargo at speeds comparable to jets between cities in vacuum-sealed tubes. This ambitious project, originating from Elon Musk’s 2013 “alpha paper,” captivated imaginations with the prospect of travel at speeds of 760 mph, theoretically reducing the travel time between Los Angeles and San Francisco, or New York and DC, to just 30 minutes.

Despite early excitement, the project faced significant skepticism from scientists and engineers, who questioned its practicality. Nonetheless, the idea was compelling enough to attract substantial investment, including a substantial injection of $350 million from Richard Branson’s Virgin Group and DP World, a Dubai-based port logistics firm, in 2017. However, the venture struggled to manage its finances effectively, burning through these investments rapidly with little to show for it.

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