Elon Musk says Boring Co. tunnel should be 17 miles long in one year, Telesign acquisition price rises to $335 million and SpaceX’s manufacturing model credited for new space age.
Elon Musk wants to have a tunnel running under a 17-mile stretch of the 405 freeway in Los Angeles "in a year or so," CNBC reports. So far, his Boring Co. has built 500 feet worth of tunnel. Musk predicts cars will be rushed through the tunnels in pods going as fast as 125 mph.
User authentication service TeleSign is now officially part of BICS, SoCalTech reports. BICS agreed in April to pay $230 million to acquire TeleSign, however, March Capital Partners, one of the investors in TeleSign, said that by reaching certain benchmarks the deal now is now valued at $335 million.
A space investment report by Space Angels, an angel fund and a venture capital fund focused on space, found SpaceX’s first launch in 2009 marked a key inflection point between the "governmental" space age and the "entrepreneurial" space age, Ars Technica reports. SpaceX significantly lowered the barriers to entry in the space industry by vertically integrating, which drastically reduced its cost to get to orbit.
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.