Las Vegas is the first city to pay for the services of Elon Musk's Boring Company.
"Las Vegas is set to give Elon Musk’s Boring Company its first payout: a $44m contract to build a high-speed underground transit system serving an expanded convention center," reports Mark Harris.
"According to the proposed contract between Musk’s company and the city, which was made public ahead of a vote on Wednesday by board members of the Las Vegas Convention and Visitors Authority (LVCVA), The Boring Company would build two 0.8-mile tunnels and three underground stations at the Las Vegas Convention Center…"
"The project is a gamble on technology that has yet to be demonstrated at a commercial scale, and on a company whose founder has a reputation for missing deadlines," adds Harris.
Las vegas is hedging its bet on The Boring Company by withholding more than two-thirds of payments until construction is complete.
In December, The Boring Company debuted its first tunnel, built in Southern California at the company's headquarters in Hawthorne, to mixed reviews.
Read the full story: Las Vegas is about to take a gamble on Musk’s Boring Company
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