Hyperloop One: The High-Speed Dream Hits the Brakes

Hyperloop One, the ambitious transportation startup that once held the promise of propelling passengers through low-pressure tubes at speeds akin to those of commercial airlines, is officially ceasing operations, according to a report by Bloomberg. The company is liquidating its assets, shutting down its offices, and laying off its workforce. The closure is slated to be finalized by the year’s end, with all intellectual property transitioning to its majority stakeholder, DP World, a prominent Dubai-based port operator. The unique opportunity to acquire the test track located in the Nevada desert is also part of the assets up for grabs. This…