Virgin Hyperloop One has set a new speed record of 240 miles per hour. This exceeded the record set by Elon Musk's hyperloop by 20 miles per hour. Further, not only is the Virgin offering currently faster, but they've named Richard Branson their non-executive chairman. Additionally, they've raised $50 million more to help them continue funding this venture. All of this is good news because it shows there's competition in this market and it's always good to have some competition for our hard earned dollars. Virgin Hyperloop One has also set a historic test speed record of nearly 387 kilometers per hour (240 miles per hour, 107 meters per second) during its third phase of testing at DevLoop, the world’s first full-scale hyperloop test site. The company achieved faster speeds and tested a new airlock which helps transition test pods between atmospheric and vacuum conditions during its latest test campaign which was completed on December 15, 2017.