Elon Musk's Boring Company to complete first tunnel by next week
Musk hasn't actually...
Elon Musk's Boring Company has announced that it will have completed the construction of its first tunnel by this time next week.
Musk hasn't actually revealed where the first tunnel is but he has left a series of cryptic clues on his Twitter account, suggesting that it will start at the Space X headquarters and go under the street to a car park opposite.
Perspective pic.twitter.com/4DW9csSmtl— Elon Musk (@elonmusk) June 30, 2017
Across the road and below the ground pic.twitter.com/E2DG8EzaXg— Elon Musk (@elonmusk) June 30, 2017
Just installed steel skeleton of the car/pod elevator. Should be operating next week. pic.twitter.com/DIZW7zuWaA— Elon Musk (@elonmusk) June 30, 2017
Whilst focus will be drilled into the Boring Company in the coming weeks, this has followed on from more success for Musk.
Space X recently completed two back-to-back Falcon 9 rocket launches in just one week, despite Musk calling the situation "tight" due to extreme weather.
The mission delivered 10 new Iridium Communications satellites, with the rocket taking off from California then landing on a drone ship in the Pacific Ocean eight minutes later.
Musk praised the new titanium grid fins after the mission, saying they "worked better than expected" and that the Falcon 9 "should be capable of an indefinite number of flights."
Reusable rockets can be used to help vastly reduce the amount of fuel needed that is usually used in 'normal' rocket launches, whilst also being capable of undertaking quickfire missions without the need for repairs.
Bukalapak raises $1.5bn in record Singapore IPO, say sources
Bukalapak, currently the fourth largest Indonesian ecommerce company, is said to have raised $1.5 billion in the first IPO by an Indonesian tech unicorn.
Three unidentified, but likely reliable, sources told Reuters the order books for Bukalapak’s IPO were covered by multiples, with one source claiming the issue attracted more than $6 billion in demand despite being listed at the top of its indicated price range.
Bukalapak's 50x growth
Bukalapak was looking to raise just $300 million just a few months ago. The figure grew to $800 million before rising to $1.5 billion as investors jockeyed for a piece of the company.
Covid-19 has had a positive impact on many ecommerce operators, and Bukalapak also has strong investment lines via Singapore sovereign investor GIC and Microsoft, among others. The company focuses on micro, small and medium-sized enterprises.
Indonesia is Southeast Asia’s biggest economy.
Indonesia’s four biggest ecommerce companies
Tokopedia is an Indonesian technology company specializing in e-commerce. It was founded in 2009 by William Tanuwijaya and Leontinus Alpha Edison.
Shopee was first launched in Singapore in 2015, and later expanded its reach to Malaysia, Thailand, Taiwan, Indonesia, Vietnam, the Philippines, Brazil, Mexico, Chile, and Colombia.
Lazada is a Singaporean multinational technology company which focuses mainly on e-commerce. Founded by Maximilian Bittner with the backing of Rocket Internet in 2012, it is currently owned by the Alibaba Group after its acquisition in 2016.
Bukalapak is an Indonesian e-commerce company. It was founded in 2010 as an online marketplace to enable small and medium enterprises go online and has expanded to support smaller traditional family owned businesses.