Kimberly Salzer has stepped down as chief marketing officer of high-speed transportation developer Hyperloop One after a year on the job, according to Recode. She’s reportedly leaving to join Ozobot, a startup making robots designed to teach kids how to code. Salzer’s departure comes mere days after Hyperloop One delayed the first full test for its prototype for the third time, per The Wall Street Journal.
The Los Angeles-based company is working to develop a transportation network using tube-based hyperloop technology, the space-age idea first put forth by Elon Musk in 2013. Founded a year later, Hyperloop One has raised about $150 million from investors including 137 Ventures and Cherubic Ventures and was valued at $239 million with its Series B in May 2016. Yet for a variety of reasons, including the novelty of the tech and the difficulty of creating the necessary infrastructure, there’s been speculation about whether the company’s product will ever see the light of day.
Seth Klarman: Investors Can No Longer Rely On Mean Reversion
"For most of the last century," Seth Klarman noted in his second-quarter letter to Baupost's investors, "a reasonable approach to assessing a company's future prospects was to expect mean reversion." He went on to explain that fluctuations in business performance were largely cyclical, and investors could profit from this buying low and selling high. Also Read More
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