Stop me if you already predicted this a long time ago.
The futuristic project to encapsulate high-speed trains in an airtight vacuum-sealed tube, and shoot them down the tracks at speeds of up to 700 MPH, has been closed down.
Hyperloop One, which was once called Virgin Hyperloop, and was initially funded by Sir Richard Brandon, was originally ideated by none other than Elon Musk who posited that creating vacuum-sealed tubes to send passenger and cargo trains traveling at high speeds could ease congestion and be a more efficient form of transportation.
Now the company behind the project, DP World which is the Dubai-based company that owns a majority stake in Hyperloop One, has laid off nearly all of the company’s employees and is now seeking to sell all of the equipment, machinery, and the test track it built near Las Vegas.
This comes after raising almost half a billion dollars in funding since being founded in 2014.
I guess the only thing that happened fast for this company was how quickly they spend all their funding and then shut down.
