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The Boring Company was initially formed as a subsidiary of SpaceX before becoming an independent company in 2018. When told by employees on a Friday afternoon that it would take at least two weeks to move staff cars in the parking lot and start digging the first hole with TBC tunneling machine, Musk said, "Let's get started today and see what's the biggest hole we can dig between now and Sunday afternoon, running 24 hours a day." Later that day, the cars were gone and there was a hole in the ground. By February 2017, the company had begun digging a 30-foot-wide (9 m), 50-foot-long (15 m), and 15-foot-deep (4.6 m) testing trench on the premises of SpaceX's offices in Hawthorne, since construction on its site would not require any permits. Outside investments during 2019 have changed the equity split.Įlon Musk discusses The Boring Company at TED 2017.Įlon Musk announced the existence of The Boring Company in December 2016. As of December 2018, 90% of the equity was owned by Musk, with 6% held by SpaceX in return for the use of SpaceX resources during the initial startup of the company. The Boring Company was initially formed as a subsidiary of SpaceX, becoming a separate and fully independent company in 2018. Musk cited difficulty with Los Angeles traffic and what he sees as limitations with the current two-dimensional transportation network as his early inspiration for the project.
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Other tunnels are in various stages of discussion and planning. It has also completed one tunnel for testing Hyperloop and loop travel in Los Angeles County. TBC has completed two tunnels in Las Vegas for loop travel. Its current and proposed projects are designed for intra-city ("loop") transit systems, although the company has stated that current tunnels are being built so they could support eventual transition to Hyperloop-based transportation on longer inter-city routes. The Boring Company ( TBC) is an American infrastructure and tunnel construction services company founded by Elon Musk.