Business

Elon Musk To Build Tunnels By Selling Hats!

NEWS WORLD INDIA | 0
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| October 18 , 2017 , 13:38 IST

Tesla and SpaceX founder Elon Musk is serious about his tunnel project, the one he set up as The Boring Company. His latest tweet suggests he is going to raise money for the tunnel by selling ‘Hats’.

You heard it right. Earlier today Musk tweeted a link to what he called ‘The World’s most boring hat’. The hat is being sold on “The Boring company’s website’ and is priced at 20$.

When asked by a twitter user if this was Musk’s way of self-funding and avoiding IPO’s Musk tweeted Gonna build that tunnel one hat at a time (sic). 

Irritated with Traffic Jams Elon Musk had founded ‘The Boring Company’ to work and end traffic woes.

Musk had tweeted saying Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging...

The name of the company came from the next tweet where he said It shall be called "The Boring Company".

Musk came up with the idea of tunnels and believes that in order to solve the problem of soul-destroying traffic, roads must go 3D, which means either flying cars or tunnels.

ALSO READ: Humans on Mars In 7 Years, Says SpaceX Founder Elon Musk

The company’s site says “A large network of tunnels many levels deep would fix congestion in any city, no matter how large it grew (just keep adding levels). The key to making this work is increasing tunneling speed and dropping costs by a factor of 10 or more – this is the goal of The Boring Company. Fast to dig, low cost tunnels would also make Hyperloop adoption viable and enable rapid transit across densely populated regions, enabling travel from New York to Washington DC in less than 30 minutes”

Interestingly the website suggests that digging these tunnels is an expensive job and estimates the project cost to be $1 billion per mile and suggests that the project cost need to be reduced by a factor of 10 in order to make the tunneling feasible.

Even if the project cost is reduced 10 times the current estimate, The Boring Company will have to sell 5million hats to achieve a tunnel of one mile. That’s not a bad number with Elon Musk as the face of the marketing?