• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
Tech

Why We Can’t Have Nice Trains

Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
February 13, 2019, 11:59 AM ET
Governor-elect Gavin Newsom Holds Press Conference At St. Anthony Foundation
SAN FRANCISCO, CA - NOVEMBER 08: Governor-elect Gavin Newsom speaks during a press conference at the St. Anthony Foundation in San Francisco, Calif., on Thursday, Nov. 8, 2018. (Jane Tyska/Digital First Media/The Mercury News via Getty Images)Jane Tyska—MediaNews Group/The Mercury News Digital First Media via Getty Im
Add Fortune on Google for similar content.

This article first appeared in Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here.

What is it with the U.S. and high-speed rail?

On Tuesday, California Governor Gavin Newsom iced a plan to build a fast train between Los Angeles and San Francisco, confirming this country won’t experience modern rail travel for another generation—if ever. Meanwhile, China has recently built thousands of miles of new tracks, while the people of France and Japan enjoy rail networks that whisk them smoothly between major cities.

To be fair to Newsom, he made the right call. The projected price of California’s ambitious rail plans had jumped another $13 billion, even as a proposed link between the Bay Area and Los Angeles felt as far off as San Francisco’s chances of winning the World Series this year. As a consolation prize, the governor promised the state will get a 119 mile high-speed link between two Central Valley towns—a link that few people seem to want or need.

None of this is surprising, but it’s still discouraging. This is especially so since San Francisco, one of the destinations for the now-abandoned high-speed rail network, has a greater concentration of wealth and tech talent than anywhere in the world. If any group of people can figure out how to build a modern train line, surely these folks can. Part of the problem may be that a good portion of these tech savants (Elon Musk excluded) are directing their genius at perfecting delivery apps rather than developing infrastructure the U.S. desperately needs.

The bigger issue, though, is political. As Fortune CEO Alan Murray has pointed out on numerous occasions, the country’s legislative process has devolved into a torpid, dysfunctional swamp. And the current partisan clamor is unlikely to bring a fix anytime soon.

The G.O.P. was quick to dunk on California’s troubled rail project, tweeting “Reality: 1, #GreenNewDeal: 0.” It was an easy dig, but also one that does nothing to explain what the state should do instead to ameliorate its benighted freeway system. Democrats, meanwhile, are unlikely to look at how their own mania for regulation might be making infrastructure so prohibitive in the first place. For instance, why does a mile of subway in New York (another deep-blue state) cost seven times more than in other cities around the world?

I’m not sure what the answer to all this might be, other than to say it probably involves more centrist solutions. And I’m not bitter. I just want to ride a high-speed train between two big American cities before I die.

About the Author
Jeff John Roberts
By Jeff John RobertsEditor, Finance and Crypto
LinkedIn iconTwitter icon

Jeff John Roberts is the Finance and Crypto editor at Fortune, overseeing coverage of the blockchain and how technology is changing finance.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Tech

t
AIMarkets
Billionaire Mike Bloomberg warns Trump’s AI ownership plan would make ‘George Orwell blush’
By Eva RoytburgJuly 21, 2026
1 hour ago
U.N. reports Southeast Asia’s criminal networks are using tech to build a global illicit economy
AsiaTech
U.N. reports Southeast Asia’s criminal networks are using tech to build a global illicit economy
By The Associated PressJuly 21, 2026
2 hours ago
Anthropic to pay authors $1.5 billion over pirated books used to train Claude in first major AI copyright settlement
LawAnthropic
Anthropic to pay authors $1.5 billion over pirated books used to train Claude in first major AI copyright settlement
By The Associated PressJuly 21, 2026
2 hours ago
kid lying down on phone
PoliticsSocial Media
Lawmakers say they’re protecting kids—but their age checks are quietly building an ID requirement for the entire internet
By Catherina GioinoJuly 21, 2026
2 hours ago
holland
Arts & EntertainmentMovies
‘The audience is telling the industry something’: even IMAX is stunned by Christopher Nolan’s runaway ‘Odyssey’
By Tatiana SatauaJuly 21, 2026
3 hours ago
OpenAI CEO Sam Altman looking up.
CybersecurityOpenAI
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
3 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
1 day ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
1 day ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
The Treasury is walking a tightrope on U.S. debt by relying so much on short-term rates that are at the mercy of a suddenly very hawkish Fed
Economy
The Treasury is walking a tightrope on U.S. debt by relying so much on short-term rates that are at the mercy of a suddenly very hawkish Fed
By Jason MaJuly 20, 2026
1 day ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
2 days ago
Jamie Dimon won't put more of his own money into the long end of the bond market right now—thanks to the $39 trillion national debt
Economy
Jamie Dimon won't put more of his own money into the long end of the bond market right now—thanks to the $39 trillion national debt
By Eleanor PringleJuly 21, 2026
13 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.