By Stephen Frank : calpolitics – excerpt
The High Speed Rail concept has been trying to raise private funds for more than 13 years—yet not a dime of private money has been invested. In fact, the Bond measure that gave us this boondoggle said they had to raise equal amounts from the private sector before beginning the process—like everything else, they lied… (more)
Hyperloop One raises $50 million despite lawsuit, and adds finance adviser
by Dean Takahashi : venturebeat – excerpt
Hyperloop One is working on a transportation technology that can make trains go as fast as 760 miles per hour. And today, the company said it has raised $50 million from the port of Dubai and others to explore building a high-speed transportation system to move cargo.
The deal comes on a previous announcement to explore building a high-capacity passenger transport system in Moscow and a $80 million funding in May. The company was able to close that deal and add a new chief financial adviser in spite of bad publicity from four former high-ranking employees who accused Hyperloop One’s of corporate misgovernance in a lawsuit…(more)