It is called "The Hyperloop" and, according to the designer, it will be a revolutionary "fifth mode" of transport, eclipsing trains, planes, boats and cars.
The "cross between Concorde, a rail gun and an air hockey table" could deliver passengers between United States cities faster than sound.
The history of transport is full of such schemes. But this project has one key difference - its backer is a Silicon Valley wunderkind with a proven track record of turning science fiction into reality.
Billionaire Elon Musk's CV is impressive. He made his fortune from PayPal, the online secure payment system, before turning to spaceships. Last year his SpaceX venture became the first private operation to dock a cargo capsule with the International Space Station.
Back on Earth, Musk also founded Tesla, which has made electric sports cars viable and profitable.