Courtesy of Hyperloop One

Hyperloop One — which wants to make Elon Musk's idea of super-fast, tube-based transportation a reality — thinks its successful second round of testing (completed last month) will help prove skeptics wrong. We caught up with its co-founders for an update:

"We went a lot faster," co-founder and President of Engineering Josh Giegel said when asked how he would sum up the significance of the tests for a relative or friend. The system reached 192 miles per hour and traveled farther than it did in its first set of tests.

It was the first time the system had been tested with a pod (which carries people and cargo), not just the sled that carries it.

"So now is the dawn of commercialization of hyperloop," said Shervin Pishevar, a co-founder of the company and its executive chairman. "We had to accomplish this to show governments around the world and our partners and everyone that hyperloop is real, we've built it."

What's next: More tests to refine the system and bring it closer to deployment. It has a long way to go to reach the targeted 650 miles per hour.

Challenges remain: Some of those are regulatory, like getting local authorities on board. Others are technical, like perfecting the vacuum system that makes the concept work. Not to mention financial: It's going to cost tens of billions of dollars to deploy it at any kind of scale.

Go deeper

S&P 500's historic rebound leaves investors divided on future

Data: Money.net; Chart: Axios Visuals

The S&P 500 nearly closed at an all-time high on Wednesday and remains poised to go from peak to trough to peak in less than half a year.

By the numbers: Since hitting its low on March 23, the S&P has risen about 50%, with more than 40 of its members doubling, according to Bloomberg. The $12 trillion dollars of share value that vanished in late March has almost completely returned.

Newsrooms abandoned as pandemic drags on

Illustration: Sarah Grillo/Axios

Facing enormous financial pressure and uncertainty around reopenings, media companies are giving up on their years-long building leases for more permanent work-from-home structures. Others are letting employees work remotely for the foreseeable future.

Why it matters: Real estate is often the most expensive asset that media companies own. And for companies that don't own their space, it's often the biggest expense.

2 hours ago - Technology

Dark clouds envelop feel-good Pinterest

Illustration: Eniola Odetunde/Axios

Pinterest set out to be a bright spot in cutthroat Silicon Valley, but now stands to see its reputation forever tarnished by allegations of mistreatment and a toxic culture by women who held senior roles at the company.

Why it matters: Even a company known for progressive policy decisions and successfully combatting hateful and otherwise problematic content isn't immune to the systemic problems that have plagued many tech companies.