Musk said there’s really only one roadblock to this company achieving this mega-cap value.
Elon Musk wants to create and control an artificial superintelligence and guide humanity in an effort to colonize Mars. But before we get there, he wants to solve the problem of traffic right here on Earth.
In 2016, the tech billionaire tweeted himself into a new company: “Traffic is driving me nuts. I am going to build a tunnel boring machine and just start digging…” he wrote. A series of tweets followed this proclamation as the idea germinated and cemented in Musk’s head: “It shall be called ‘The Boring Company.’ I am actually going to do this.”
The firm’s goal is to “solve the problem of soul-destroying traffic,” by creating a series of underground transportation tunnels. Taking transportation underground, the company says, should additionally “allows us to repurpose roads into community-enhancing spaces, and beautify our cities.”
The tunneling company broke ground on its first project in Feb. 2017 and has since completed three projects: the Las Vegas Convention Center (LVCC), the Hyperloop Test Track and the R&D Tunnel. It is currently working on a 68-mile Las Vegas Loop station that will eventually connect 93 stations between Las Vegas and Los Angeles. Once in operation, the Vegas Loop will transport 90,000 passengers every hour, according to the company.
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Part of Musk’s proposition is that, with the right technology, he can make tunneling a quick and relatively inexpensive process. The company’s Prufrock machine allows Boring to “construct mega-infrastructure projects in a matter of weeks instead of years.” The machine can mine one mile/week, with new iterations expected to further increase that output.
Elon Musk is looking to transform traffic and transportation with one of his many ventures.
By 2030, Youtuber and investor Warren Redlich wrote in a post on X, Boring will have more than 10,000 miles of tunnel. By 2035, he said, that number will rise to 100,000. With that increase in tunnel space, Redlich thinks that Boring will IPO by 2028 and hit a $1 trillion market valuation by 2030.
Musk said that this bullish prediction might actually be possible.
“This is actually possible from a technology standpoint,” he wrote in response. “By far the biggest impediment is getting permits. Construction is becoming practically illegal in North America and Europe!”
