From Time Magazine:



Entrepreneur Richard Branson invested in Hyperloop One, later rebranded as Virgin Hyperloop, with ambitious plans to revolutionize transportation using tube pods at aviation speed. Although Branson and the company’s cofounder expressed enthusiasm and anticipated its success, it was ultimately to shutdown. Despite plans for high speed train projects in California by the Biden administration, troubling signs emerged for Hyperloop One over the years, including the decision to focus on cargo over passengers and the decision to lay off most of its staff after not succeeding in securing a contract for an actual hyperloop. With the company currently being liquidated, its assets will be sold off and its remaining employees are set to be laid off by the end of the year.



Original: Richard Branson hyped Hyperloop in 2017. It’s shutting down