Elon Musk's Hyperloop: What We Know Now

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July 16 (Bloomberg) -- Elon Musk, the billionaire chairman and chief executive officer Tesla Motors, will release designs next month for a system he has said would be capable of whisking people from Los Angeles to San Francisco via a tube. Bloomberg's Alan Ohnsman reports on Bloomberg Television's "Money Moves." (Source: Bloomberg)

Alan, thanks for joining us.

We have mentioned earlier that musk has described this as a cross between the concord, rail, and something hockey.

He has proposed getting people from los angeles to san francisco in about 30 minutes, so a lot faster than you can do it by jet travel, and, perhaps, less cost with a high-speed rail system.

Ok, faster and cheaper.

That sounds good with almost any project, but what will he face?

Well, that remains to be seen.

He has not unveiled all of the modes of the program.

What he has said is on august 12, he will have a press conference and share his proposal in detail, and he is open to bringing in partners to develop the system.

It is not clear to what extent he will personally stay involved and put his own money in the project, but we will learn more next month.

This is a system you can set up between los angeles and san francisco, for example, for less than what they are planning to build right now.

What inspired him to work on this?

That is a fine question.

I know he has expressed a lot of displeasure over the high- speed rail system.

He called in the slowest bullet train system ever proposed.

It will cost billions.

So i think on one level, he does not like that much spending for what he thinks is too slow a system, and he has a different idea.

We will learn a little bit more in a few weeks.

The extent of his proposal.

Ok.

alan, you have told me is not the only person working on these types of projects.

Is there a potential for a national larger system?

I know a few years ago, there was talk of high speed rail in texas.

His competitors to the program right now would certainly be the california high speed system.

There is another small company in colorado who has proposed something very simpler.

They are holding about six passengers in them.

You can link these systems of.

The company in colorado has been doing this a bit longer, but it seems like a similar proposal.

Airless tubes, shooting passengers or potentially cargo at very, very high speeds, to 4000 m.p.h., according to the company.

We know that elon musk is very well respected.

How is the hyperloop consistent with the common denominators?

I think it is all connected in the sense that he does tend to think about big ideas and concepts that other people are not pursuing.

This is in keeping with that.

With spacex, they also has a reusable rocket.

He wants to go to mars and colonize mars.

He does think about a high concept project.

It is fair to say that he thinks big.

This text has been automatically generated. It may not be 100% accurate.

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