The Clark County Nevada Commissioners Board recently approved The Boring Company’s (TBC) Vegas Loop franchise agreement, marking another milestone in the project.
The Board granted TBC a franchise agreement on Wednesday, October 20, 2021. As per the agreement, the tunneling company has permission to install and operate a Monorail part of the Vegas Loop.
Clark County Nevada revealed TBC will not use any funds from taxpayers to build its Vegas Loop. It also emphasized that TBC plans to source local contractors and local workers for the project. The Vegas Loop will span 29 miles with 51 stations and the capacity to accommodate up to 57,000 passengers per hour.
TBC has not shared fares for the Vegas Loop yet. However, the franchise agreement does show a breakdown of the payments and fees TBC may make or incur.
“Gross Revenue, as defined in Section 6.14.020 of the Clark County Code, includes all revenue received by FRANCHISEE related to Vegas Loop Monorail service (such as fares, advertising, and concessions), minus federal, state and local taxes collected by FRANCHISEE, and refunds,” noted the agreement.
“Revenue received from interest/investment earnings or from third parties to reimburse or offset costs incurred by FRANCHISEE for design, engineering or construction work, Vegas Loop operations and maintenance work or comparable non-service-related fees shall not count towards Gross Revenue.”
TBC will pay the first franchise fee on the day of the first paid fare. The fee is calculated every quarter. After, payments and fees are due every 15th day of each calendar quarter.
The Vegas Loop is The Boring Company’s more extensive tunneling project in Sin City. It will run through the Las Vegas Strip, leading to stations in popular tourist spots, including the Allegiant Stadium and Resorts World.
In July, photos of TBC’s Resorts World extension were shared online. Based on the pictures, The Boring Company is already making significant progress with the construction of the Vegas Loop.
Read the Boring Franchise Agreement below!
Boring Franchise Agreement by Maria Merano on Scribd
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Elon Musk
Tesla Korea hiring AI Chip Engineers amid push for high-volume AI chips
Tesla Korea stated that it is seeking “talented individuals to join in developing the world’s highest-level mass-produced AI chips.”
In a recent post on X, Tesla Korea announced that it is hiring AI Chip Design Engineers as part of a project aimed at developing what the company describes as the world’s highest-volume AI chips. CEO Elon Musk later amplified the initiative.
Tesla Korea stated that it is seeking “talented individuals to join in developing the world’s highest-level mass-produced AI chips.”
“This project aims to develop AI chip architecture that will achieve the highest production volume in the world in the future,” Tesla Korea wrote in its post on X.
As per Tesla Korea, those who wish to apply for the AI Chip Design Engineer post should email Ai_Chips@Tesla.com and include “the three most challenging technical problems you have solved.”
Elon Musk echoed the hiring push in a separate post. “If you’re in Korea and want to work on chip design, fabrication or AI software, join Tesla!” he wrote.
The recruitment effort in South Korea comes as Tesla accelerates development of its in-house AI chips, which power its Full Self-Driving (FSD) system, Optimus humanoid robot, and data center training infrastructure.
Tesla has been steadily expanding its silicon development teams globally. In recent months, the company has posted roles in Austin and Palo Alto for silicon module process engineers across lithography, etching, and other chip fabrication disciplines, as noted in a Benzinga report.
Tesla Korea’s hiring efforts align with the company’s long-term goal of designing and producing AI chips at massive scale. Musk has previously stated that Tesla’s future AI chips could become the highest-volume AI processors in the world.
The move also comes amid Tesla’s broader expansion into AI initiatives. The company recently committed about $2 billion into xAI as part of a Series E funding round, reinforcing its focus on artificial intelligence across vehicles, robotics, and compute infrastructure.
Elon Musk
SpaceX and xAI tapped by Pentagon for autonomous drone contest
The six-month competition was launched in January and is said to carry a $100 million award.
SpaceX and its AI subsidiary xAI are reportedly competing in a new Pentagon prize challenge focused on autonomous drone swarming technology, as per a report from Bloomberg News.
The six-month competition was launched in January and is said to carry a $100 million award.
Bloomberg reported that SpaceX and xAI are among a select group invited to participate in the Defense Department’s effort to develop advanced drone swarming capabilities. The goal is reportedly to create systems that can translate voice commands into digital instructions and manage fleets of autonomous drones.
Neither SpaceX, xAI, nor the Pentagon’s Defense Innovation Unit has commented on the report, and Reuters said it could not independently verify the details.
The development follows SpaceX’s recent acquisition of xAI, which pushed the valuation of the combined companies to an impressive $1.25 trillion. The reported competition comes as SpaceX prepares for a potential initial public offering later this year.
The Pentagon has been moving to speed up drone deployment and expand domestic manufacturing capacity, while also seeking tools to counter unauthorized drone activity around airports and major public events. Large-scale gatherings scheduled this year, including the FIFA World Cup and America250 celebrations, have heightened focus on aerial security.
The reported challenge aligns with broader Defense Department investments in artificial intelligence. Last year, OpenAI, Google, Anthropic, and xAI secured Pentagon contracts worth up to $200 million each to advance AI capabilities across defense applications.
Elon Musk previously joined AI and robotics researchers in signing a 2015 open letter calling for a ban on offensive autonomous weapons. In recent years, however, Musk has spoken on X about the strengths of drone technologies in combat situations.
News
Doug DeMuro names Tesla Model S the Most Important Car of the last 30 years
In a recent video, the noted reviewer stated that the choice was “not even a question.”
Popular automotive reviewer and YouTuber Doug DeMuro has named the 2012 Tesla Model S as the most important car of the last 30 years.
In a recent video, the noted reviewer stated that the choice was “not even a question,” arguing that the Model S did more to change the trajectory of the auto industry than any other vehicle released since the mid-1990s.
“Unquestionably in my mind, the number one most important car of the last 30 years… it’s not even a question,” DeMuro said. “The 2012 Tesla Model S. There is no doubt that that is the most important car of the last 30 years.”
DeMuro acknowledged that electric vehicle adoption has faced recent headwinds. Still, he maintained that long-term electrification is inevitable.
“If you’re a rational person who’s truthful with yourself, you know that the future is electric… whether it’s 10, 20, 30 years, the future will be electric, and it was the Model S that was the very first car that did that truthfully,” he said.
While earlier EVs like the Nissan Leaf and Chevrolet Volt arrived before the Model S, DeMuro argued that they did not fundamentally shift public perception. The Model S proved that EVs “could be cool, could be fast, could be luxurious, could be for enthusiasts.” It showed that buyers did not have to make major compromises to drive electric.
He also described the Model S as a cultural turning point. Tesla became more than a car company. The brand expanded into Superchargers, home energy products, and a broader tech identity.
DeMuro noted that the Leaf and Volt “made a huge splash and taught us that it was possible.” However, he drew a distinction between being first and bringing a technology into the mainstream.
“It’s rarely about the car that does it first. It’s about the car that brings it into the mainstream,” he said. “The Model S was the car that actually won the game even though the Leaf and Volt scored the first.”
He added that perhaps the Model S’ most surprising achievement was proving that a new American automaker could succeed. For decades, industry observers believed the infrastructure and capital requirements made that nearly impossible.
“For decades, it was generally agreed that there would never be another competitive American car company because the infrastructure and the investment required to start up another American car company as just too challenging… It was just a given basically that you couldn’t do it. And not only did they go it, but they created a cultural icon… That car just truly changed the world,” he said.