Tuesday, August 14, 2018

The Hyperloop Con Will Bail Him Out

I would just be mildly amused by Musk because he's such a dumbass on twitter except for the fact that he's pushing the latest in Vaporware mass transit which follows the usual pattern off mass transit Vaporware. Basically, it won't work and even if it works it won't work because it won't be mass transit but it will suck a lot of public dollars and prevent useful mass transit from being built as dumbasses say we must not use "19th century technology (trains)" when we can just wait for the Star Trek transporter to be invented.

But three people familiar with the workings of the Saudi fund cast doubt on his account. They said the fund had taken none of the steps that such an ambitious transaction would entail, like preparing a term sheet or hiring a financial adviser to work on the deal.

And even if the fund were ready to move forward with such an agreement, it would invite review by the Committee on Foreign Investment in the United States, the government body that reviews the national-security implications of such transactions.

Anyway, you can get away with an immense amount of fraud in this country but when rich people try to defraud other rich people they occasionally run into problems.