Haha.
While Musk’s venture hasn’t done much yet, beyond dig a few test tunnels and talk about the state of the technology of tunnel borers and how much it could be improved, it has sold a lot of hats – 50,000, to be exact, a figure which Musk himself touted when citing the company’s ability to make money from its branding even before attempting to commercialize its primary business. That was apparently something a speaker at the council meeting raised, too – but as a warning.
Said meeting attendee called the Boring Co. a “thinly capitalized company that has made money selling hats,” Bloomberg reports.
