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00:00Gosh thank you so much for joining us. Great to have you on the show and congratulations on the test. What did you learn from the latest round of tests. Josh let's start with you. Well we learned we can actually make Hyperloop work so we based the whole company around getting to that moment where he showed the whole world that we were able to verify that the system worked . And that's what he set out to do. And that's what he did. So Sherburne what's the next step. That's a great question Josh and the team have been working really hard. He moved into the desert weeks ago. We're now three hundred people strong the last two and half years from starting the company has been about proving that technology works. Now we've shown at hyper the one that the Hyperloop is real. It works. And now we move into what we call the dawn of the commercialization of Hyperloop. So as all the travels that we've been doing and the conversations and dialogue and studies with governments around the world we've shown in the videos that you saw the actual full scale Hyperloop working with the pod XP one traveling at incredible speeds faster and faster. And now we move on to the commercialization process actually building this out around the world . So German I have a ticket you gave me. I don't really. When will I be able to use this sooner than you think. But keep on keep that ticket. That's a very special ticket anyway and you're guaranteed to have a ride on on the Hyperloop if I pollute one. That's a promise from both me and George. Yes. All right. So Josh what is the timeline. When will you have it up and running for cargo and for passengers. So the next phase for us is to actually move this into production space. So we have to make it make sure it can be reliable for 30 plus years and actually get it into a mass manufacturing market. So that's what's next for us on the engineering side. And we think we'll be able to do that by the 2021 timeframe. Shery Ahn How do you overcome cost barriers and safety concerns. It's a great question. We basically the way that we have architected the Hyperloop is to make it the the cheapest fastest safest cleanest form of public transportation in the world the way that we've designed it. The reason it can be cheaper is that the staters or the motors that we've designed only have to be on on the line for every 30 kilometers whereas other solutions have continuous my gloves and motors that are way more expensive to operate maintain and build out. So what you'll see is a future that's very similar to what you've seen with Paris and Brussels being connected with high speed rail where people there aren't even any flights anymore between those two cities. Everyone is taking the high speed rail road. What's interesting about Hyperloop One is that our solution essentially will be an Ip solution and a control system and automation solution. So we really want to engender thousands of of companies around the world that are building these hyper loops around the world using our technology. Now Elon Musk of course is the one who came up with the original white paper on Hyperloop technologies and he's always said he doesn't want to commercialize the technologies but now he has the boring company and he recently tweeted just receive verbal government approval for the boring company to build an underground New York Philadelphia Baltimore D.C. Hyperloop New York to D.C. in 29 minutes. What do you make of his sudden apparent push into Hyperloop with the Boeing company . So I believe one is very focused on getting the actual Hyperloop the real Hyperloop out to the world the world is a very big place. Infrastructure is very difficult to move forward. You need the collaboration of governments around the world. We've been in deep discussions with governments for a long time and we can build it overground underground tunneling is just one of those solutions that's also very expensive expensive solution to just do tunneling. So we wanted to have a multi-modal solution and spread that around the world. So we're hearing from sources that Musk may actually want to build all the components. What would it be like to go up against him. We are very as you've seen being able to do this in two and half years have three hundred brilliant minds . We are very focused on execution and building. And this is a movement we want to be able to be a platform to allow many many companies to be created tunneling companies and like you're describing are are one of those solutions and there is probably many many partnerships in that space to be pursued. So are you saying he's not involved in your efforts at this point. Like when is the last time you guys spoke. Now the line is as a friend. We communicate and I'm a huge believer in him and again you're driving this forward. This is a multi decade effort . It's going to take many many brilliant minds and commitment for many people to push it forward and there'll be multiple great companies that are supporting builders building this ecosystem the infrastructure of the world is in dire need of these types of solutions the world is held back by decrepit decaying infrastructure that's been built decades before and we're very committed to that as ISE and many others. Josh give us a size . Give us a sense of the scope of your operation how many people are working there now how many people do you expect will be working there by the end of the year. So we've got we've been around for a little over two and a half years now and we have about 300 people that work there. We're split up among three sites one in Los Angeles and then two in Las Vegas. All the videos that you saw today were from the test site in North Las Vegas. So we anticipate being up around probably 400 to 450 by the end of the year. And that really it's about two thirds or so engineers. And that allows us to continue to push continue to develop and really drive the manufacturing and the cost of this whole system to the price point that we know he can sell it for AROUND THE WORLD. So there's a lot of work to be done and you know we've we've spent the last basically two and half years building the system that you've seen and we went from 70 to about 200 miles an hour and 11 weeks and what rail took 70 years to do that you know and so I think it's really a testament to the type of architecture that we built and then more testament to the team that we actually assembled. And Emily if you if you see the videos that we've shared today that are historic videos this is just from Saturday this past Saturday July 20 9th you'll you'll actually hear the sound of Hyperloop and that's the sound of the future for us. It's a pretty incredible video. So there has been some turnover particularly on the tech and engineering side. How are you handling that reshuffling. You know we've certainly had no shortage of people interested in working for us . You know we just brought in a new SVP of hardware engineering who from came the Google X program and a few other things as well as a new software lead starting in about a week and a half from now. So we certainly there's candidates knocking down the door and as we continue to scale and as we grow the company the more people and the more high level talent we're able to attract because of the progress that we've shown in our ability to execute on that. Now the CTO did move on and there was a lawsuit and I'm curious. Shery Ahn what you learned from that experience and how you're moving forward. Yeah we're we're incredibly focused as George said on on building the real Hyperloop. Building it around the world as we've shown with the major milestone of the XP one pod traveling at those speeds breaking these these speed records. You know we are very focused on the future and that's that's all we care about . Talking about the future Shery Ahn I gotta ask you you are one of the earliest investors in Uber. What are your thoughts on Travis Kalanick s resignation and who do you think is the right person to lead the company forward. I think Uber is is one of the great companies of our generation. The impact it has had on the world the scale of which it's reached you know every company has lessons that it learns in that kind of historic run. It's one of it is the fastest growing company in history. And at those speeds you're going to reach you know some some friction and they've taken that very seriously. And I think it's one of the greatest opportunities for a incredible leader and CEO to get to come in and help lead a company that's at the forefront of where transportation solutions are going. With cell self-driving cars and the battle that's going on there. It's one of the great kind of areas in technology and innovation in the world. And it'll be fun to watch. I'm sure you've been following. I got to ask you I'm sure you've been following all these stories about sexual harassment in V.C.. What's been your reaction and what do you think can be done to make sure these things don't happen. Take it take it very seriously. As we've talked about our kids. My my daughters . I care a lot about her and her future. And if anyone would ever treat her differently because of her gender I would be very upset. I don't think you want to see a upset father like me . So I care very very much about this issue. Some of the things that we've done we've held these diversity dinners. We had Reverend Jackson come very focus on getting more people of color and women into venture but also getting more new funds created by women and people of color . Reverend Jackson said in our in our gathering. My home was the fourth wave of the civil rights movement is about economic opportunity. And it takes more than pledges of words it takes actual pledges of economic you know opportunity and some of those ideas you'll you'll see coming out from that same group. And we're looking at essentially building syndicates that can that can help fund more more funds created by women and people of color and also funding of companies and entrepreneurs with diverse backgrounds. I've seen as you and I have talked you know just the systemic issues and the blocks that can happen to people of all diverse backgrounds and immigrants. I'm an immigrant refugee and I've run into those types of blocks that we've as we've talked about before. And I would never want that to happen to anyone. All right. Sherman thanks so much for fielding that Sherman pressure. Josh Cagle thanks so much for joining us . I've got my ticket. I'll see you on the Hyperloop when I see you there and we certainly .

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Hyperloop Co-Founder & President on Latest Round of Tests

Shervin Pishevar, Hyperloop One co-founder, and Josh Giegel, president of engineering, discuss the high-speed transportation company's completion of its second phase of testing. They speak with Bloomberg's Emily Chang on "Bloomberg Technology." (Source: Bloomberg)

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