Elon Musk Forecasts $1 Trillion Market Cap for Venture by 2030


Renowned tech visionary Elon Musk, known for his grand ambitions ranging from artificial superintelligence to Mars colonization, is setting his sights on a more immediate challenge: traffic congestion on Earth.

In a pivotal move back in 2016, Musk took to Twitter to announce his new venture: "Traffic is driving me nuts. I am going to build a tunnel boring machine and just start digging..." he declared. This proclamation marked the inception of what would become "The Boring Company," a concept that quickly took root in Musk's mind, as subsequent tweets solidified his determination, stating, "I am actually going to do this."

The core mission of The Boring Company is to alleviate the burdensome issue of traffic by constructing an extensive network of subterranean transportation tunnels. Beyond the practical benefits of reducing traffic, the company envisions repurposing roads into community-oriented spaces, thereby enhancing the urban landscape.

Since breaking ground on its inaugural project in February 2017, The Boring Company has successfully completed three ventures: the Las Vegas Convention Center (LVCC), the Hyperloop Test Track, and the R&D Tunnel. Presently, the company is actively engaged in the development of a 68-mile Las Vegas Loop station, poised to link 93 stations spanning from Las Vegas to Los Angeles. When operational, the Vegas Loop is projected to ferry an impressive 90,000 passengers per hour.

Central to Musk's vision is the belief that, with cutting-edge technology, tunneling can become a swift and cost-effective process. The company's Prufrock machine is instrumental in this regard, enabling the construction of colossal infrastructure projects in a matter of weeks rather than years. It currently boasts a rate of one mile per week, with future iterations poised to further amplify this output.

According to Youtuber and investor Warren Redlich, by 2030, The Boring Company is slated to have over 10,000 miles of tunnel, a number that is anticipated to skyrocket to 100,000 by 2035. Redlich predicts that this expansion in tunnel capacity will culminate in an Initial Public Offering (IPO) by 2028, ultimately propelling the company's market valuation to a staggering $1 trillion by 2030.

Elon Musk himself expressed confidence in this optimistic projection, stating, "This is actually possible from a technology standpoint. By far the biggest impediment is getting permits. Construction is becoming practically illegal in North America and Europe!"