Bloomberg: Musk’s Hyperloop One Is Shutting Down

Bloomberg News reports:

Hyperloop One, the futuristic transportation company building tube-encased lines to zip passengers and freight from city to city at airplane-like speeds, is shutting down.

The company had captured the public’s imagination since its founding in 2014, a year after Elon Musk released a white paper outlining a vision for hyperloop technology.

The concept was a tantalizing promise of a new kind of transportation technology — and an end to traffic. But the nascent industry stumbled, and Hyperloop One never won a contract to build a working hyperloop.

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Hyperloop One wanted to reinvent transportation. It didn’t work out that way https://t.co/utv6wUSd81

— Bloomberg (@business) December 22, 2023