Richard Branson Steps Down As Chairman of Virgin Hyperloop One (reuters.com)

Richard Branson is stepping down as chairman of Virgin Hyperloop One -- "the company that plans to build a supersonic transport system in the United Arab Emirates and other countries," reports Reuters. The reason is because the company needs a more actively involved leader. From the report: The Financial Times reported last week that Saudi Arabia had terminated a planned deal with Virgin Hyperloop One after Branson halted investment talks with Riyadh over the Jamal Khashoggi affair. "At this stage in the company's evolution, I feel it needs a more hands-on Chair, who can focus on the business and these opportunities," the statement quoted Branson as saying. "It will be difficult for me to fulfill that commitment as I already devote significant time to my philanthropic ventures and the many business within the Virgin Group."

Comments

Wasted opportunity

[SuperKendall]

Imagine how much the Saudi's would pay for a hyperloop that shipped body parts from embassies all over the world back to Saudi Arabia for proper untraceable disposal! No more embarrassing sewer tell-tales.

Re: No Virgin Ones in FEDERAL PRISON

[Anonymous Coward]

Damn. Is this really the shit-flinging insane asylum slashdot.org has become? Makes me sorry I stopped by. You should really seek some help, duder.

branson who?

[sittingnut]

richard branson is an irrelevant bore.
he made some money some time ago through conventional means in some noncompetitive market. good for him.
now he is wasting it, to his his credit slowly, in order to pass himself as some sort of innovator and edgy personality. he try to act and dress he part too. boring!

Re:branson who?

[quanminoan]

I used to think so as well, particularly despised him with the constant spraying everyone with champagne while grinning like an idiot that seemed to be constantly on TV. A friend convinced me to read his book "Losing My Virginity", really made me admire him. Very adventurous businessman who understands life and seems to genuinely care about his employees.

But you're fairly spot on about the change I think. His book that came out last year as a follow up was an absolute pain to finish - all politics along with his views and opinions on extremely complex issues stated as fact. I get the sense he's seeing people like Musk innovating and realizing he hasn't truly made a transformational mark on society. It's eating at him so he's getting involved in space, hyperloop, etc. Not his strong suit, but hey if he succeeds great.

Re:branson who?

[Strider-]

He always sort of reminded me of Zaphod Beeblebrox. Now hand me a pan galactic gargleblaster so I can end my miserable mind.

Re:branson who?

[Actually, I do RTFA]

y. It's eating at him so he's getting involved in space, hyperloop, etc.

I mean, his space company is only like 1.5 years younger than Musk's, his hyperloop company less than a year younger. So, it's not like he's Johnny Come Lately to these.

Re:Elon can do this

[110010001000]

Elon already built a super awesome hyperloop. Been there, done that.

Do you mean the toy?

[Anonymous Coward]

Do you mean the toy one that is used in the Hyped-up Pod competition? That's just a toy.

Re:Do you mean the toy?

[110010001000]

Haha, not a toy. Just another scam.

Reading between the lines

[Anonymous Coward]

"The reason is because the company needs a more actively involved leader." translates to:"The venture is going down in flames, and I want to be as far from the splash zone as I can get."

Branson self interests

[Anonymous Coward]

If Saudis can go to another country and dissect a journalist alive, and the consequences are ZERO, then Saudi Arabia isn't a country of laws, and any agreement you think you have with them is unenforceable. Because they can do whatever they like.

Your contract is worth jack shit, your life is worth jack shit, the life of your staff is worth jack shit. Branson knows this, he cancelled his Saudi deals because he's not an idiot.

All of these executives cancelling their trips to Saudi Arabia, are totally aware they cannot push for enforcement of any contract, they cannot ensure any business dealings because Prince Bone Saw is a WhatsApp friend of Jareds, and he can kill them, tear up their contracts, do anything he wants, and there will be zero consequences.

The audio from the Embassy has the Consulate head saying , "do this outside, I'll get into trouble" as they were cutting up the screaming Khashoggi. The men turned to him and said "if he wanted to live when he returns to Saudi Arabia, he'd better shut up". The head of a Consulate must comply with the brutal murder of a man in front of him, simply in order to ensure he himself doesn't get the same treatment. How safe do you now feel even visiting a Saudi Embassy for any paperwork knowing the man issuing the paperwork must help with a murder if asked to?

It all comes down to Jared's 'friend' and how big a defense contract it is. It's a matter of PRICE not laws.

You think a US Senator, a Republican, a Fox News executive are somehow special? Are somehow safe. That the laws protect them and not others? Yet a very high profile Washington Post journalist isn't safe? Can I remind you, it is a VERY BIG arms deal.

Hyperloop BS.

[Chas]

Glad that someone finally realized that the Hyperloop is just hype and nothing more.

PooperVandal sucks

[Hognoxious]

Imagine how much the Saudi's would pay

You left out the thing that the Saudi owns.

Re: No Virgin Ones in FEDERAL PRISON

[Rei]

Yes. Yes it is.

Re: No Virgin Ones in FEDERAL PRISON

[jellomizer]

You must be new here.

Re:Old people have no reason to live

[jellomizer]

Is it fear or anger?
The older people fear the youth, with their "progressive" ideas and understanding of the new technology that makes them a threat to their way of life.
The youth are angry at the older people because they are ignoring obvious problems and bringing older problems that had been managed and making them worse.