Not so friendly reminder that musk specifically came up with, and pushed, for hyperloop knowing that it would never be made, as an effort to stop the development of highspeed rail in America and shift all political discussions of it because "something better is around the corner":
As I’ve written in my book, Musk admitted to his biographer Ashlee Vance that Hyperloop was all about trying to get legislators to cancel plans for high-speed rail in California—even though he had no plans to build it. Several years ago, Musk said that public transit was “a pain in the ass” where you were surrounded by strangers, including possible serial killers, to justify his opposition.
Also: 2024 update, the total length of China's high-speed rail tracks has now reached well over 45,000 km, or 28,000 miles, by the end of 2023.
They are additionally five years ahead of schedule and expect to double the total number within ten years. And, before someone inevitably complains about "how expensive it is", they are turning over a net-profit of over $600M USD a year.
Projects intended for the public good don’t need to be profitable. It is disingenuous to argue that High Speed Rail is profitable in China, nor can you make the assumption that it could be profitable in other markets.
There are a lot of conflicting reports on how profitable HSR is in China, the fact that government and Industry are often one in the same and the lack of good public accounting at Chinese companies makes any reports from HSR advocates out of china questionable. After all they do want to sell their HSR technology globally.
HSR is much more difficult in the US as the rights of private property are respected and projects need to pass a much higher threshold of review for environmental impact, etc. There are many major infrastructure projects in China that turn out to be poorly planned and executed years after they have been completed.
Good thing that's not what OP or anyone else in here was arguing. Like you said, it's a public good. It doesn't need to be profitable to serve the public interest. In fact, profits run counter to the public interest. So why bring it up?
We have eminent domain, and HSR has been built in Europe despite stricter envirobmental regulations.
Wow. Couldn't happen in the US. Never.
The Big Dig didn't cost that much in the end ... about 1/4 of what Musk paid for Twitter. If a billionaire could throw money away on a vanity social media project, than the government could spend a quarter of that on critical infrastructure.
The biggest cost of the big dig was the opportunity cost. The state let the mbta (the metro and commuter rail) fall into a state of comical disrepair. Trains aren't supposed to catch fire or derail as often as the T does