Richard Branson, the billionaire behind the Virgin brand, has reportedly invested an undisclosed sum in Elon Musk's barmy Hyperloop supersonic tube train project.
Beardy gets to join the Hyperfruitloop board, according to the Beeb, and the firm will also add its ubiquitous Virgin moniker to Musk's firm's name, meaning it will now be known as Virgin Hyperloop One.
The rebrand and ascension of Branson to the board suggests that a large sum has made its way from billionaire Beardy into Hyperloop's coffers, though terms of the deal were not revealed.
"Ever since our creation, Virgin has been known for disruption and investing in innovative companies," burbled Beardy's PR flunkies. "Importantly, Virgin Hyperloop One will be all-electric and the team is working on ensuing it is a responsible and sustainable form of transport too."
"Virgin Hyperloop?"
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In November, Washington, D.C.'s Department of Transportation granted the Boring Company a permit to excavate at a parking lot within the city:
Washington, D.C., has issued a permit allowing Elon Musk's Boring Company to do preparatory and excavation work in what is now a parking lot north of the National Mall. The company says the site could become a Hyperloop station.
The permit, reported Friday by the Washington Post, was issued way back on November 29th of 2017. The permit is part of an exploratory push by the city's Department of Transportation, which according to a spokesperson is examining the feasibility of digging a Hyperloop network under the city. The Hyperloop is an as-yet theoretical proposal to use depressurized tubes and magnet-levitated pods to move passengers at very high speeds.
From The Washington Post:
Asked about the permit, issued Nov. 29, a Boring Company spokesman said Friday that "a New York Avenue location, if constructed, could become a station" in a broad network of such stops across the new system.
D.C. Mayor Muriel E. Bowser (D) visited the Boring Company in California this month, walking in a tunnel to learn more about the technology the company says will make tunneling faster and cheaper.
The District's Department of Transportation is figuring out what other permits the Boring Company would need to cut under city roads and other public spaces, according to Bowser's chief of staff, John Falcicchio.
Previously: Elon Musk Claims to Have "Verbal Approval" to Build New York to Washington, D.C. Hyperloop
NY-Philly-Baltimore-DC Hyperloop: Not Vaporware?
Related: Hyperloop Pod Competition Winner Exceeds 200mph (324 km/h)
Sir Richard Branson Invests in Hyperloop
Elon Musk's Boring Tunnel Near Los Angeles
Elon Musk's Boring Company Sells Flamethrowers
(Score: 2, Funny) by Anonymous Coward on Monday October 16 2017, @09:11AM (1 child)
Richard Branson is even a bigger moron than I thought or he's betting some of the IP developed for this infeasible, loony project will be reusable for space transit.
The brand name that makes everything a euphemism.
(Score: 3, Funny) by krishnoid on Monday October 16 2017, @09:17AM
Also the name of his company's non-orientable chastity belt.
(Score: -1, Offtopic) by Anonymous Coward on Monday October 16 2017, @09:59AM
Huh huh.
(Score: 2) by isostatic on Monday October 16 2017, @10:23AM (1 child)
Great way to kill it off -- Look at what happened with Spaceship One.
(Score: 2) by bob_super on Monday October 16 2017, @04:48PM
It's the same logic as Virgin Galactic: Find enough millionaires ready to pay six figures for an experience.
Hyperloop as currently described doesn't work as a mass transport system. The only way to make enough cash is to convince deep-pocketed people to take a thrill ride.
(Score: 1) by khallow on Monday October 16 2017, @12:24PM (6 children)
(Score: 2) by Nuke on Monday October 16 2017, @01:25PM (1 child)
"Beardy" (or rather "Beardie") is the code name for Branson in the UK satirical magazine Private Eye [wikipedia.org]. Private Eye has code names for many public figures (the Queen is "Brenda" for example), and it is an intentional joke in itself that this might give them protection aginst being sued for character defamation.
"Beardy" is instantly recognisable to UK guys of, let us say, nerdy and techie disposition. Bear in mind that this news item has been taken from a UK website.
(Score: 1) by khallow on Monday October 16 2017, @02:04PM
(Score: 0) by Anonymous Coward on Monday October 16 2017, @04:02PM (3 children)
And what's up with the "Sir" title? That's a Brit thing for Brit-only people. My local chapter of the Loyal Order of Water Buffaloes has anointed me with the title of "Grand Poobah", but nobody outside of the lodge seems to call me Grand Poobah Anonymous Coward.
(Score: 0) by Anonymous Coward on Monday October 16 2017, @04:36PM
None of us knew oh grandest of poobahs.
(Score: 2) by Phoenix666 on Monday October 16 2017, @07:05PM
It's an appellation that indicates the bearer is an object among a collection of objects owned by a personage called a "monarch."
French and Americans, among others, prefer the title of "citizen," and hold it equal to any king, queen, or emperor.
Washington DC delenda est.
(Score: 2) by Nuke on Monday October 16 2017, @10:33PM
It is just a British form of public honour in Branson's case. Most countries have such honours, the USA for example [wikipedia.org].
(Score: 3, Interesting) by Nuke on Monday October 16 2017, @01:32PM (1 child)
FTFA :- "Virgin has been known for disruption and ... idworking on ensuing it is a sustainable form of transport"
"Disruption" is not "sustainable". The idea of disruption is to un-sustain something.
(Score: 2) by Fluffeh on Monday October 16 2017, @08:54PM
It is very possible to disrupt a sector or industry with a completely sustainable technology or idea that simply isn't in the area yet.
Solar power is rather sustainable when you look at it from an environmental angle, but at the same time, solar power stations are disrupting fossil fuel based power suppliers.
Various Virgin business have been set up to disrupt an already established market by doing something cheaper or better or differently and many of the incumbents have had to adjust their own practices to stay viable.
(Score: 2) by Grishnakh on Monday October 16 2017, @02:42PM (6 children)
Ok, what is with this "Virgin" moniker that Branson loves so much anyway? Why would anyone pick this as a name for anything, unless they're some kind of prude or something?
(Score: 2) by takyon on Monday October 16 2017, @05:13PM (3 children)
What is wrong with Extra Virgin olive oil?
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by Grishnakh on Monday October 16 2017, @06:09PM (2 children)
That's not a brand name, that's a description. In a description, for some things, it's fine: "virgin" vs. "recycled", for instance, is a perfectly apt descriptor (this was used back in the days of vinyl records; the ones made of recycled vinyl were inferior because when they recycled them, the paper labels were kept in them and ground up and became part of the new vinyl, which resulted in poorer sound quality and/or durability). I'm not sure why it's used for olive oil (where "virgin" means no heat or chemicals were used in the extraction process, which degrades the nutritional quality), but again it's a descriptor, not a brand name.
I'm just questioning why this guy picked this weird word as a big brand name/trademark. If you fly on Virgin Airlines, does that means the flight crew are all virgins? Or that it only caters to virgins? Obviously, this is ridiculous, so why pick such a ridiculous brand name? If you just want to pick some random English word for a brand name, there's many, many other words that are completely inoffensive and innocuous.
(Score: 2) by takyon on Monday October 16 2017, @06:17PM (1 child)
I hear if you hijack and crash a Virgin Galactic spaceship into a space station, you can get 72 alien virgins in the afterlife.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by Grishnakh on Monday October 16 2017, @07:28PM
See, you're proving my point. This "Virgin" name is stupid, and makes the company ripe for all kinds of jokes.
(Score: 2) by Nuke on Monday October 16 2017, @10:21PM (1 child)
Ostensibly, it is because his company is (or originally was) registered in the Virgin Islands. Tax haven, I suppose.
OTOH, it is said that it is because the only people who would travel on his planes and trains are ones who have never done it before.
(Score: 2) by Grishnakh on Tuesday October 17 2017, @01:20AM
No, I broke down and looked it up on Wikipedia. It came from his first record company back around 1971; his employees came up with the name because they were all completely inexperienced at business. For whatever reason, after that he just stuck with it for all his ventures.
I did see one really great thing about the guy on his Wikipedia bio: he absolutely hates neckties, and even jokes about cutting them off of people.
(Score: 2) by OrugTor on Monday October 16 2017, @04:28PM (1 child)
Given that the Register's target audience appears to be developmentally challenged 12-year-old boys we can afford to ignore them as a source of news.
(Score: 2) by Phoenix666 on Monday October 16 2017, @07:07PM
"developmentally challenged 12-year-old boys"
So, they're from Jersey, then?
Washington DC delenda est.
(Score: 0) by Anonymous Coward on Tuesday October 17 2017, @12:03AM
...in vacuum tubes.
(Score: 3, Insightful) by crafoo on Tuesday October 17 2017, @01:57AM (1 child)
I don't get it. These guys are doing engineering and development with their money. Even as a hobby. Even if all endeavors fail. It's still infinitely more useful than what 99% of the wealthy do with their money (horde, speculate, and buy luxury goods). Trying to execute big ideas and failing is noble and it is good. Hats off to all involved.
(Score: 0) by Anonymous Coward on Tuesday October 17 2017, @02:46AM
Seconded. At worst some sharp engineers (in multiple disciplines) will have interesting work for awhile. And it won't be making weapons, which has to be a good thing for humanity.
Not noted in the comments I saw above, or in TFA (which I actually read) is that "Hyperloop One" is not a Musk company.