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Mr Z

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Medial • 2h

Elon Musk spent $300 million to dig a massive tunnel underground. Wall Street called it a publicity stunt. Now it's worth over $100 billion. Here's the insane story of why cities globally are desperate to buy it (and how it could eliminate traffic jams forever): Let's start with a tweet. In December 2016, Elon Musk was stuck in LA traffic. Frustrated, he tweeted "Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging..." Most thought it was a joke, but Elon wasn't kidding: Two weeks later, The Boring Company was born. Its mission was ro build a network of underground tunnels to solve traffic congestion. In 2017, The Boring Company raised $112.5 million. $100 million came from Musk himself. By 2018, The Boring Company had completed its first test tunnel in Hawthorne, California. It's cost was $10 million per mile. Traditional tunnels? $1 billion per mile. Today, The Boring Company has projects in Las Vegas, Texas, and Florida.

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