In the race to save the planet, the technology powering Virgin Hyperloop potentially could lead the charge in reducing the carbon impact of global transportation, one of the largest contributors to climate change, by more than 25 percent, according to Virgin Hyperloop CEO and co-founder Josh Giegel.
"Transportation is the largest emitter in the U.S., it's about 29 percent," Giegel told Cheddar. "So things like electric vehicles, last mile, ride-sharing, all of those things are making a dent."
Virgin Hyperloop uses an electric propulsion system to transport pods from one place to another through a low-pressure tube. Giegel said that the pods can transport people or goods at the speed of conventional airplanes while consuming 10 times less energy.
"But we need to look at mass transportation systems for people, for cargo and that's the opportunity for hyperloop, is that we can live in this century and the next century with technology that allows us to move at these speeds and save this amount of time without having to, i'll say, destroy the planet around us," he said. "It's really sustainability without sacrifice."
The pods also would be able to seat 25 to 35 passengers, take them directly to their destinations without making additional stops, and the service would be "on-demand," allowing passengers to move at their own pace without sticking to a strict departure schedule, according to the CEO. Giegel and colleague Sara Luchian were the first live passengers to test the technology in November of last year.
As global communities continue to seek transportation options that are more climate-conscious, Giegel said he expects technologies similar to Virgin Hyperloop to become more mainstream. He pointed to the coronavirus pandemic's impact on the environment, which led to a reduction in greenhouse gas pollution and even exposed a need for speedier, efficient transportation for vaccine distribution.
"The focus on sustainability, I think, is really, really refreshing and that there's opportunity like here in the U.S. or wherever it might be to 'build back better,' to use the technology of the future to, I'll say, enable the future that we want, which is fast, it's electric, it's clean," he said. "I'm just seeing a much more rapid view on getting people into sustainable modes of transport a heck of a lot faster."
Stocks closed lower Friday, with the Dow shedding 200 points as stocks fell overall for the second week in a row amid rising Russia-Ukraine tensions. Investors are on edge as U.S. officials including President Joe Biden say they expect a Russian attack on Ukraine in the coming days. Aadil Zaman, Partner at Wall Street Alliance Group, joins Closing Bell to discuss today's close, how consumers are shifting their mindset around COVID-19, earnings season, geopolitical tensions, and more.
Coming off of the latest NFL season, Draftkings has plans for growth and new bettors to join its platform following what it saw as a record year of state legalization of sports betting and Super Bowl action. CEO Jason Robins joined Cheddar News to talk about what in store for the company in 2022, including labor issues leading to the postponement of the MLB's spring training games and the NCAA's March Madness. "There's a lot of really exciting stuff that happens in the first couple of rounds all the way through to the championship game. So typically we've seen incredible activity during March Madness on the betting side," Robins said.
PlayersTV is bringing sports viewers Athletes On Demand, a subscription platform to provide fans with thousands of hours of sports content from their favorite athletes. CEO Angela Bundrant joined Cheddar News to discuss the new rollout. "People can expect to receive content or buy into content on demand that comes from their favorite athletes," said Bundrant, listing star partners like the Phoenix Suns' Chris Paul and New Orleans Pelicans' C.J. McCollum.
The New York Stock Exchange has applied for trademark licenses to launch metaverse-, NFT-, and cryptocurrency-related goods, but denies that it has any immediate plans to launch these virtual products. Adam Hollander, the founder of Hungry Wolves NFT, joins Cheddar News' Closing Bell, where he noted such a plan would be "game-changing."
Walmart beat earnings estimates for the fourth quarter, and despite losses stemming from supply chain costs and COVID-19 employee sick leave, the big box chain was still able to fight inflation as costs rose across the board. What's next for Walmart and other retail giants as inflation continues to run hot?
Arun Sundaram, Senior Equity Analyst at CFRA Research, joins Closing Bell to discuss.
Bamboo-based toilet paper company Cloud Paper raised $5 million in a recent funding round. Its product is a bamboo-based alternative to traditional toilet paper made from trees, and its mission is to end the deforestation caused by traditional paper products. Cloud Paper says the raise will allow it to make significant investments in its supply chain, product development, and hiring. Ryan Fritsch, a co-founder of Cloud Paper, joined Cheddar News' Closing Bell to discuss.
Space tourism company World View plans to launch its first commercial flights in early 2024, with voyages to take off from iconic locations around the world like the Grand Canyon — but seemingly at a flexible price point. Dale Hipsh, president of tourism and exploration at World View, joined Cheddar to discuss what a trip to the stratosphere would look like with his company and its much less expensive take on space travel. "Our technology allows us to be more democratic, to offer more opportunities for people to experience near space, and that overview effect," he said. "So we're really thrilled to be bringing it to market."
