Elon Musk just revealed new details about his tunneling project that could change transportation forever

Elon Musk just revealed new details about his tunneling project that could change transportation forever

Tesla CEO Elon Musk revealed new details about his futuristic tunnel-boring project during his TED talk on Friday.

The Boring Company, Musk’s latest venture being led by SpaceX engineer Steve Davis, is working on building a network of underground tunnels that would transport cars on an electric skate. The skate would propel cars through the tunnel at a maximum speed of 130 mph, enough to get from Westwood to Los Angeles in just 5 minutes.

Musk showed the very first visualization of the project during his TED Talk. A car would pull into a metal container that would then transport it underground:

An electric skate would then rocket the car through the tunnel:

Musk is juggling quite a few projects on top of The Boring Company, including Tesla’s upcoming Model 3 launch and the rollout of a brand-new solar roof product. He’s also launched a new artificial intelligence company, Neuralink, while still serving as CEO of SpaceX and Tesla.

But Musk said The Boring Company is only taking “2 or 3 percent” of his time. Interns and Tesla employees are working on the project part-time.

This story is developing.

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Enterprise data company Cloudera explodes in its opening minutes of trading

Enterprise data company Cloudera explodes in its opening minutes of trading

Cloudera Inc. held its IPO today on the New York Stock Exchange. The company and its underwriters settled on an IPO price of $15, pricing above expectations of $12-$14.

Shares of Cloudera are up 22%, or $3.20, in the stock’s first minutes of trading.

Cloudera describes itself as a “United States-based company, which offers Cloudera, a platform for machine learning and analytics built on open source technologies.”

Cloudera is offering 15 million shares with an optional 2.25 million for underwriters, for a total of $250 million.

Cloudera held a private round of fundraising in 2014 offering shares at $30.92, which valued the company at over $4 billion. Today’s IPO values the company at about $2 billion, so investors from that 2014 round will see the value of their investment almost cut in half.

Chip maker Intel made a substantial investment in Cloudera several years ago.

Click here for a real-time Cloudera chart.

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Backdoor Could Allow Company To Shut Down 70% of All Bitcoin Mining Operations

Backdoor Could Allow Company To Shut Down 70% of All Bitcoin Mining Operations

An anonymous reader writes: “An anonymous security researcher has published details on a vulnerability named “Antbleed,” which the author claims is a remote backdoor affecting Bitcoin mining equipment sold by Bitmain, the largest vendor of crypto-currency mining hardware on the market,” reports Bleeping Computer. The backdoor code works by reporting mining equipment details to Bitmain servers, who can reply by instructing the customer’s equipment to shut down. Supposedly introduced as a crude DRM to control illegal equipment, the company forgot to tell anyone about it, and even ignored a user who reported it last fall. One of the Bitcoin Core developers claims that if such command would ever be sent, it could potentially brick the customer’s device for good. Bitmain is today’s most popular seller of Bitcoin mining hardware, and its products account for 70% of the entire Bitcoin mining market. If someone hijack’s the domain where this backdoor reports, he could be in the position to shut down Bitcoin mining operations all over the world, which are nothing more than the computations that verify Bitcoin transactions, effectively shutting down the entire Bitcoin ecosystem. Fortunately, there’s a way to mitigate the backdoor’s actions using local hosts files.

Read more of this story at Slashdot.

BitTorrent is Shutting Down Its Live TV Streaming Service

BitTorrent is Shutting Down Its Live TV Streaming Service

Janko Roettgers, reporting for Variety: San Francisco-based BitTorrent Inc. is set to shut down its P2P-powered live TV streaming service BitTorrent Live in the coming weeks, Variety has learned. Most of the 10-person team behind the live streaming service is expected to leave the company by the end of this week. The closure of Live comes after BitTorrent unsuccessfully tried to raise money to spin out the service into a separate company. It’s also just the latest twist in a long corporate drama. Last year, two outside investors took control of BitTorrent, spent millions of dollars on an expensive expansion into the media space and promptly got themselves fired. BitTorrent has since rehired its former COO Rogelio Choy as its new CEO, and is now looking to focus on its core products. As part of that realignment, the company was looking to turn Live into a separate, venture-funded entity, but raising money for it proved challenging.

Read more of this story at Slashdot.