What’s Up, Elon: 1st ‘Boring’ Tunnel Is Finished, SpaceX to Send US Spy Satellites Into Space + Get $500M in New Funding for Starlink

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’s first tunnel is finished

Source: The Boring Company

Tuesday afternoon, the Boring Co. gave reporters demonstration rides through the tunnel in modified Tesla Model X SUVs, going between 40 and 50 miles per hour.

With a modified Tesla Model X zipping through a Boring Company tunnel,  took the wraps off his vision of a high-speed tunnel system he believes could ease congestion and revolutionize how millions of commuters get around cities.

“I thought it was epic,” said Musk as he described how he felt being whisked through the Boring Co.’s demonstration tunnel. “For me it was an epiphany, like ‘this thing damn well worked.'”

Musk, who founded the Boring Co. two years ago after complaining that traffic in Los Angeles was driving him “nuts,” says the demonstration tunnel cost approximately $10 million to complete.

Source: The Boring Company

During his Tuesday evening presentation, Musk described the Boring Co.’s tunnels as “an actual solution to the soul-crushing burden of traffic,” laying out the ways they could be integrated into cities to one day make transportation faster and easier.

 SpaceX to send US spy satellites into space

’s SpaceX is poised to launch a new spy satellite for the US military, marking its first designated national security mission for the United States.

SpaceX’s Falcon 9 rocket, carrying a roughly US$500 million (NZ$730m) GPS satellite built by Lockheed Martin, is scheduled for lift off from Florida’s Cape Canaveral shortly after 9am (local time), the US Air Force said.

Tuesday’s launch, if successful, would be a victory for Mr Musk, a billionaire entrepreneur who has tried for years to break into the market for lucrative military space launches long-dominated by incumbents Lockheed and Boeing.

Source: Getty Images

SpaceX to get $500M in new funding

That $500 million is what the Wall Street Journal reported that Musk’s SpaceX is in the process of raising in order to help fund Starlink, a planned satellite-based internet service. And with that funding, SpaceX’s value is set to go even higher.

Citing “people familiar with the fundraising,” the Journal said the new financing will raise SpaceX’s current valuation $30.5 billion; its worth was pegged at $28 billion when it completed a round of funding in April.


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