Hyperloop is a hypothetical mode of high-speed transportation proposed by inventor and SpaceX founder Elon Musk. Musk has envisioned the system as a 'fifth mode' of transportation, an alternative to boats, planes, cars and trains. The system would, in theory, be able to travel from downtown Los Angeles to downtown San Francisco in under 30 minutes.
Musk first announced the Hyperloop in July 2012 at a PandoDaily event in Santa Monica, CA. Details of the system are still emerging, and in September 2012, Musk likened the system to both a ground-based Concorde and a cross between a Concorde and a railgun, while noting that it has no need for rails. Musk estimated the cost of the SF-LA Hyperloop would be about $6 billion, one tenth as costly as the proposed high speed rail serving those cities. He has revealed that it is not a vacuum tunnel.
Quotes:
This system I have in mind, how would you like something that can never crash, is immune to weather, it goes 3 or 4 times faster than the bullet train... it goes an average speed of twice what an aircraft would do. You would go from downtown LA to downtown San Francisco in under 30 minutes. It would cost you much less than an air ticket than any other mode of transport. I think we could actually make it self-powering if you put solar panels on it, you generate more power than you would consume in the system. There's a way to store the power so it would run 24/7 without using batteries. Yes, this is possible, absolutely. - Elon Musk, July 12, 2012
What you want is something that never crashes, thats at least twice as fast as a plane, thats solar powered and that leaves right when you arrive, so there is no waiting for a specific departure time, Musk says. His friends claim hes had a Hyperloop technological breakthrough over the summer. Id like to talk to the governor and president about it, Musk continues. Because the $60 billion bullet train theyre proposing in California would be the slowest bullet train in the world at the highest cost per mile. Theyre going for records in all the wrong ways. The cost of the SF-LA Hyperloop would be in the $6 billion range, he says - Sept 13, 2012