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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.
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Hyperloop Done After raising almost half a billion dollars in funding since being founded in 2014, Hyperloop One is shutting down. As Bloomberg reports, the once hyped-up transportation startup that was meant to revolutionize travel from city to city by blasting us through vacuum tubes at breakneck speeds, has laid off most of its staff. […]
(Bloomberg) -- 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, according to people familiar with the situation.Most Read from BloombergIran Sends Warship to Red Sea After US Sinks Houthi BoatsQuake Hits Northwestern Japan, Killing Four, Wrecking HomesIndia’s Crude Oil Imports From Russia Plunge on Payment IssuesUS Pushed Dutch Maker of Chip Equipment to Block Chinese Sales
Dublin, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The