Re:Elon Musk’s Boring Co. Wins Chicago Airport High-Speed Tr...
by Johnny555 on Thursday June 14, 2018 @01:19PM
(#17313317)
Note he didn't fund it himself, the US Government gave him $30K:
In March 1843, the US Congress appropriated $30,000 to Samuel Morse to lay a telegraph line from Washington, D.C. to Baltimore, Maryland, along the right-of-way of the Baltimore and Ohio Railroad.
$30K in 1843 was around $1M in today's money. I wonder if that $30K paid for the whole project or if Morse had to kick in some of his own.
Without environmental and employee protection laws, or permitting concerns, maybe it would be doable for under $1M today. Since copper is so expensive, I thought the cost of wire would dominate the expenses, but 5000 ft of uninsulated 16 gauge wire sells for $400 on ebay, so 45 miles worth of a pair of wires would cost around $40K
He set up a line between Washington and Baltimore, and transmitted the news from a convention in Baltimore. It arrived in Washington 64 minutes before the train bearing the news did, thus proving it worked.
Within 2 years, there was 2,000 miles strung, within 4 years, 12,000 miles. People had discovered they could make money by using the telegraph. People who received news faster made money.