In December 2016, Elon Musk spent $300 million to dig a massive underground tunnel.
Wall Street calls it a publicity stunt.
Now it's worth over $100 billion.
This is the crazy story of The Boring Company,
Elon Musk's future underground solution to solve traffic forever,
Why cities worldwide are desperately trying to buy it
(and how to eliminate traffic congestion forever):👇
Let's start with a tweet.
In December 2016, Elon Musk was stuck in traffic in LA.
Frustrated, he tweeted, "Traffic is driving me crazy. I'm going to build a boring machine and just start digging... "
Most thought it was a joke, but Elon wasn't joking:
Two weeks later, The Boring Company was born.
Its mission is to build an underground tunnel network to solve traffic congestion.
Wall Street analysts laughed. They said, "It's a distraction." "A publicity stunt."
But Musk saw something they didn't see...
The boring tunnel industry hasn't innovated in decades.
Machinery is slow and expensive.
Musk believes he can revolutionize the technology, making tunnels cheaper and faster to build.
His first step was to buy a used boring machine and start experimenting:
In 2017, The Boring Company raised $112.5 million.
$100 million came from Musk himself.
The remainder? From selling 20,000 flamethrowers at $500 each.
Yes, a flamethrower.
Wall Street thought Musk had lost his mind. But he was just getting started...
By 2018, The Boring Company completed its first test tunnel in Hawthorne, California.
Its cost is $10 million per mile.
Traditional tunnel? $1 billion per mile.
Cost reduced by 99% by shrinking tunnel diameter and developing continuous tunneling technology
In 2019, The Boring Company won its first major contract:
A $48.7 million project to build a transportation system for the Las Vegas Convention Center.
Completed in 2021, it proved The Boring Company was not just talk.
It could bring an actual, working project
2021 was a turning point.
#MarketDownturn #binance #btc $BTC $BTC