He also said that there aren't any rails and it runs on the ground. At the moment, we have a Concorde without wings[0] (a lifting body Concorde, perhaps?) crossed with a railgun without rails. Sounds like vaporware.

[0]: It could still have wings but operate under ground effect, though it seems that it would be difficult to keep your leading edge intact travelling just above a hard surface "twice as fast as an airliner". "Twice as fast as an airliner" is Mach 0.85 * 2 = Mach 1.7 at FL360, which translates into Mach 1.5 at sea level. One useful thing we learn from this is that this system will basically have to be propelled by compressed air or electromagnetic force, since props don't work over Mach 1 and we don't have electric turbines.