Thursday June 14, 2018

Chicago Taps The Boring Company for Tunnels to O'Hare

Elon Musk and his Boring Company are going to be building tunnels from O'Hare to the Loop in Chicago (WARNING auto play video) if the mayor gets his way. They are hoping the tunnels will hope to reduce gridlock in the city and speed up the commute between the business district and the airport. What's really interesting about this proposed deal is The Boring Company will be paying for the work and the cost of a ticket will supposedly be around $20 to $25 per ride. There's no time frame for this yet, but this is going to be fun to watch as time goes by. I'm sure the pay back period for TBC is going to be measured in decades.

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In exchange for paying to build the new transit system, Boring would keep the revenue from the system’s transit fees and any money generated by advertisements, branding and in-vehicle sales, Rivkin and the company said. Ownership of the twin tunnels has not been determined, but the Emanuel administration plans to seek a long-term lease to Musk’s company, a source familiar with the proposal said.