According to the news release on CNBC, the hyperloop works by "transporting a number of passengers in capsules that would be propelled by magnets up to a speed of 750 miles per hour." Basically, Hyperloop Transportation Technologies has filed for the first building permit for an eight mile long test track that will be completed within two years at the cost of about $100 million. Elon probably carries that around in his wallet.
I love that so many of the things that I saw in early science fiction films is becoming a reality. Those tablets that people typed on in Star Trek: the Next Generation got realized with the iPad. The smartphone is basically better than any communicator we've seen in James Bond films. And now the Logan's Run hyperloops that we saw ferrying people back and forth to domed cities is totally coming true. When will we be getting androids that look like humans via Blade Runner? I'm sure it's in the works.
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