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Hyperloop One announced Wednesday that it's promoted financial advisor Brent Callinicos to COO and CFO. The company is one of several racing to develop a high-speed train based on a concept developed by entrepreneur Elon Musk.

Top priority: Callinicos' first priority will be raising a Series C in the coming months, he told the Wall Street Journal. While at Uber as the company's CFO for three years, he helped the company raise more than $4 billion in equity and debt funding.

  • The funding round is likely to be large—in October, Forbes reported that the company plans to raise as much as $250 million in early 2017. Reached for comment, Hyperloop One declined to share specifics with Axios about its fundraising plans.

Extra marketing: In the next 90 days, Hyperloop One plans to do a demo of a new track, and while Callinicos says that the fundraising is unrelated to its construction, it will likely be a "flashy public display that is going to cause a spike in demand," he told the Journal.

Why now? Callinicos' promotion is in part due to a recent fight between some of Hyperloop One's executives. Co-founder Brogan BamBrogan and three other execs sued the company last year, alleging mismanagement.

Go deeper

N.Y. Times faces culture clashes as business booms

Illustration: Sarah Grillo/Axios

New York Times columnist David Brooks' resignation from a paid gig at a think tank on Saturday is the latest in a flurry of scandals that America's biggest and most successful newspaper company has endured in the past year.

Driving the news: Brooks resigned from the Aspen Institute following a BuzzFeed News investigation that uncovered conflicts of interest between Brooks' reporting and money he accepted from corporate donors for a project called "Weave" that he worked on at the nonprofit.

America rebalances its post-Trump news diet

Illustration: Annelise Capossela/Axios

Nearly halfway through President Biden's first 100 days, data shows that Americans are learning to wean themselves off of news — and especially politics.

Why it matters: The departure of former President Trump's once-ubiquitous presence in the news cycle has reoriented the country's attention.

2021 sees a record number of bills targeting trans youth

Illustration: Annelise Capossela/Axios

Republicans in at least 25 states have introduced over 60 bills targeting transgender children — a legislative boom since January that has beaten 2020's total number of anti-trans bills.

Why it matters: LGBTQ advocates say the unprecedented push was catalyzed by backlash to Biden's election and the Supreme Court ruling that workers cannot be fired for being gay or transgender.