Hyperloop is a proposed method of travel that would transport passengers at 700 mph inside floating pods inside low-pressure tubes. It was conceived by Elon Musk in 2013 and works by using magnetic levitation or air bearings to reduce friction and allow the pods to glide at high speeds. The pods would be accelerated via a linear electric motor inside the tube and powered by solar panels. Several companies are working to develop the technology with the goal of operational systems by 2021. Key challenges include managing vibration at high speeds and the high initial investment costs required.