The Rise And Fall Of Hyperloop One: Elon Musk's High-Speed Dream Comes To A Screeching Halt

Written By BlabberBuzz | Wednesday, 27 December 2023 04:30 PM
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The Rise And Fall Of Hyperloop One: Elon Musk's High-Speed Dream Comes To A Screeching Halt

Elon Musk's ambitious transportation project, Hyperloop One, is officially coming to an end, marking the conclusion of a venture that aimed to revolutionize travel with high-speed pods.

Initially envisioned as a solution for high-speed transportation, Hyperloop One promised to transport passengers and cargo at speeds comparable to jets, all within vacuum-sealed tubes. This groundbreaking concept, which originated from Musk's 2013 "alpha paper," captured the imagination with the possibility of traveling at speeds of 760 mph, potentially reducing travel time between major cities such as Los Angeles and San Francisco, or New York and DC, to just 30 minutes.

Despite generating early excitement, the project faced significant skepticism from scientists and engineers who questioned its practicality. Nevertheless, the idea attracted substantial investment, including a notable 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 effectively manage its finances, quickly depleting these investments without achieving significant progress.

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The company's journey was further marred by controversy when co-founder Shervin Pishevar resigned amidst allegations of sexual misconduct. Tensions with Saudi Arabia, exacerbated by Richard Branson's criticism following the murder of journalist Jamal Khashoggi, resulted in the withdrawal of Saudi investment and Branson stepping down as chair.

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The only human passenger test conducted in 2020 ended in disappointment, reaching a top speed of only 100 mph, falling far short of the projected speeds. The onset of the coronavirus pandemic exacerbated the company's struggles, leading to a significant reduction in staff and a shift from passenger to cargo transportation in 2022. However, this strategic pivot was unable to salvage the company, ultimately leading to the announcement that DP World would sell off Hyperloop One's intellectual property rights and assets, including a test track located outside Las Vegas.

For more information, visit Electrek's article on the subject.

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