The Boring Company has landed a $48.7m project to shuttle people around the Las Vegas Convention Center in an underground Loop system.
After 2 years of waffling on its business model and aimless cash grab promotions, this is TBC’s first official commercial contract.
But the city of sin is certainly hedging its bets
The Campus Wide People Mover (CWPM) consists of the company’s new Tesla-powered tunnel system that will span about 200 acres if completed — and with Elon Musk’s track record of missing deadlines, that’s a big “if.”
But the contract is jammed with fine print to keep TBC on track — withholding over ⅔ of payments until completion and imposing penalties ($300k each) should the system fail to accommodate enough passengers.
Musk’s reputation’s digging holes for sure
It would be an understatement to say that trust in Mr. Musk has waned as a (w)hole — and, in Boring’s case, it could cost them.
Fortunately the CWPM is less than a mile, which seems doable… right?
Uhh… last month, a 505-page report revealed Boring’s DC-area tunnel to be riddled with safety issues including missing emergency exits, improper engineering practices, and, according to TechCrunch, passenger escape ladders that a fire safety professor called “the definition of insanity.”
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