Entrepreneurs

Elon Musk says he's ‘capping’ production of Boring Company hats at 50,000 (that's $1 million worth)

Elon Musk
Ramin Talaie/Bloomberg | Getty Images
Elon Musk

Billionaire tech titan Elon Musk took to Twitter Sunday to offer an update on his tunneling company's sale of promotional hats. He both said they would be "capping" production (indeed, the pun is not lost on anyone) and that the discussion of hats was "stupid."

If The Boring company has sold "almost" 50,000 hats, the caps have been selling quickly. On Nov. 21, Musk said his tunneling venture had raised more than $300,000 from selling hats at $20 each.

When a commentator asked why The Boring Company was going to stop production and sale of the caps at 50,000, another user broke down the math: 50,000 times $20 equals $1 million. Musk responded with "Busted."

The Boring Company hat.
Source: The Boring Company
The Boring Company hat.

When another Twitter user asked Musk why he was bothering so much about the hats, Musk was dismissive of his own topic.

.

Musk added that every 5,000th cap purchased would be signed by the hat delivery guy in an underground tunnel.

The motivation for The Boring Company is his frustration with Los Angeles traffic. The company is digging tunnels underneath the congested roadway system.

"To alleviate traffic, transportation corridors, like the buildings that feed into them, must expand into three dimensions. One option is to 'go up' with flying cars. However, flying cars have issues with weather, noise, and generally increase anxiety levels of those below them. The other option is to 'go down' and build tunnels," the company's website says.

The tweets from Musk about his "stupid" discussion of Boring hats wasn't the only fun Musk had on Twitter this weekend. He also announced he would send his own personal Tesla to Mars.

According to The Verge, that "payload is in fact real."

See also:

Elon Musk says his traffic-busting tunnel from LAX should be 17 miles long 'in a year or so'

Elon Musk says he is serious about tunneling under Los Angeles

Billionaire Elon Musk responds to unhappy Tesla customer on a Friday night, teaching a brilliant lesson in customer service

Bill Gates: I do not agree with Elon Musk about A.I. 'We shouldn't panic about it'