It’s an interesting project, to say the least, and we’ve recently found out that it takes all work and no pay to build a Hyperloop. Literally.
CEO of Hyperloop Transportation Technologies (HTT), Dirk Ahlborn, is proving to have a full blown case of thinking outside of the box. He’s come up with an ingenious a way to keep costs down on a project to build a test track for the Hyperloop system designed by Elon Musk (estimated to cost millions of dollars per square mile to build).
The company that he manages does not pay a single salary to anyone. Not even to him.
The result? A win-win situation: the company minimizes costs and increases the productivity and the quality of the work it’s doing. The latter is a direct result of the fact that the 10 hour workweek attracts the best minds available, since it allows them to work on a revolutionary project, while still keeping their day jobs.
Ahlborn says that anyone who’s willing to work for them is more than welcome. The project has thus attracted specialists from very diverse areas of study: lawyers, psychologists, former engineers from the Mars Rover, or people that took part in the Manhattan Project.
The estimate for the company’s test track for the Hyperloop is almost astonishing. $100 million. To get this money, Ahlborn uses his second company, the crowdfunding page JumpStart Fund while also trying to attract investors. His plan is to evolve the company’s business model as the project evolves and progresses.
HTT plans to build its track in California, in the Quay Valley, and has already acquired the space. As it is a common policy in crowdfunded projects, the company also shares the progress it makes with its backers, as it goes.
The biggest reward the team of employees receives, besides the opportunity to work on a groundbreaking project, is the fact that they are each given a small portion of the company.
Although there are over 400 workers who now contribute each in their own way, and that means a much divided company, Ahlborn says that people are just very excited to be working on such an amazing idea. To this extent, he is presenting his company’s project in many diverse areas, looking for people willing to join, and almost always finding the exact same enthusiasm.
As his next move, HTT will have a public offering, a type of Dutch auction in the beginning of next year, which will give investors an opportunity to pitch in while the costs are still low.
Image source: nationalgeographic.com