Haute 100 LA Update: Elon Musk Reveals Hyperloop Proposal

Elon Musk has kept his word.

The SpaceX and Tesla founder promised that he would announce plans for his groundbreaking “Hyperloop” on August 12, and he lived up to his promise.

The entrepreneur revealed his 57-page online proposal for the new technology, which promises travelers between Los Angeles and San Francisco a mere 35-minute commute.

In his “open source transportation concept” proposal, the 36-year-old writes: “Short of figuring out real teleportation, which would of course be awesome (someone please do this), the only option for super-fast travel is to build a tube over or under the ground that contains a special environment.”

Musk believes that with the right combination of technology, he could create a steel tube system that can be built both below and above ground — at the price tag of several billion dollars for the system alone. He adds that the pods necessary for transportation would also cost several hundred million dollars. Each tube would cost roughly $4 billion, and a larger tube system for cargo and vehicles would cost about $5.31 billion.

The pods would carry 28 passengers at a time, departing roughly every two minutes and perhaps even as often as every 30 seconds during peak traffic hours. Travelers would be speeding at about 760 mph.

It’s price tag: a one-way trip would cost a mere $20.

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