Fortune

TROUBLE BELOW AT THE BORING CO.

ON DEC. 16, 2020, Steve Davis, an early, trusted SpaceX engineer whom Elon Musk appointed as president of the Boring Company, stepped up to the podium at City Hall in Las Vegas. He briefed the city council about Boring’s first small stretch of tunnel, which had recently been completed 40 feet below the Las Vegas Convention Center.

Davis was also asking for the initial approvals to build something much more exhaustive, and much more expensive: a citywide public transportation system that would move people from Allegiant Stadium to the Las Vegas Strip, Fremont Street, or the airport—anywhere in less than seven minutes. “This would be a privately funded venture by our company and various property owners—pretty nice,” Davis told the group.

Davis’s attire—a black sport coat and jeans—was unusually formal for him. His employees rarely saw him in anything but his SpaceX running jacket and ball cap. But one of the lobbyists Boring Company was working with at the time had prepped Davis prior to the meeting and encouraged him to look more professional, according to emails from the lobbyist to one of the city’s executive directors that were reviewed by Fortune. (“Unlikely I can get him to wear a tie,” the lobbyist had said.) It was important he appear polished for, in particular, Mayor Carolyn Goodman, who has been one of the Boring Company’s most outspoken critics in Vegas.

Goodman’s criticism stems from Boring’s inability to finish a public tunnel project anywhere else. The Boring Company has raised more than $795 million from venture capitalists on Musk’s big idea: underground, multi-station roadways where autonomous vehicles could shoot off individuals to their destination at speeds of 150 miles per hour. But on the ground, after seven years, Boring is only operating. Meanwhile Boring projects from California to Illinois, Texas, Florida, and Maryland have all fizzled or been disbanded. (Davis, Musk, and several of Boring’s investors did not respond to requests for an interview.)

You’re reading a preview, subscribe to read more.

More from Fortune

Fortune2 min read
Building A Future Cityscape
SINCE ITS FOUNDATION IN THE EARLY 20th century, Tokyu Corporation has played a major role in the history of Japanese communities, through urban development and then later through rail connections. The firm is now looking to help lead the nation’s cit
Fortune2 min read
How Gen Zers and Millennials Are Transforming Business
GEN ZERS AND MILLENNIALS ARE EXPECTED TO comprise 72% of the global workforce by 2029, according to the World Economic Forum. The aspirations and expectations that these generations have for their careers are critical for business leaders to understa
Fortune2 min read
Meet The Class Of 1955
ALMOST 10% OF THE COMPANIES on this year’s Fortune 500—49 in all—have made our list of America’s biggest businesses by revenue every year since its first edition, in 1955. All 49 are highlighted in these graphics, which also show their size relative

Related Books & Audiobooks