F1’s urban takeover

March 25th, 2024

Presented by Masterworks

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Heating up the streets // Illustration by Kate Walker

Happy Monday, FutureParty people. Here’s one to get you up on your feet: a study out of Caltech and UCLA found that there was so much jumping and dancing at Taylor Swift’s SoFi Stadium concert in Los Angeles last August that it measured as a 2.3 magnitude earthquake. TSwift is literally a groundbreaking artist.

In other news… urban-street races find fans and haters, Sensible Weather insures against high heat, and the Paris Olympics debut in IMAX.

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March 21, 2024

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🏃🏽 NBC’s live coverage of the Opening Ceremony of the Paris Olympics will be broadcast in IMAX at over 150 theaters across the US. Read More → deadline

🎢 Qiddiya, the entertainment and tourism project in Riyadh, Saudi Arabia, announced that it’s building a theme park based on the popular Dragon Ball franchise. Read More → variety

📱 A new study from researchers out of Boston University and the University of Washington found that 30 to 50% of the first 1,000 videos a new TikTok user sees are recommendations from what the algorithm has quickly learned about them. Read More → tubefilter

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.SPORTS.

Urban pro-racing speeds into roadblocks

The Future. Every popular pro-racing circuit in the world — F1, Formula E, IndyCar, NASCAR, etc. — has increased the number of races that take place on public roads in major cities. Each race is a feat of engineering and logistics, earning plenty of praise and criticism for its impact. But as the sport continues to attract an enviable mix of money, celebrity, and investment, expect hosting high-profile races to become as competitive as hosting the Olympics.

Pedal politics
Legal street racing is navigating a twisty road to mainstream acceptance.

Just look at F1.

  • A third of F1 races will take place in street or hybrid courses (up from 15% last decade) — an intentional part of owner Liberty Media’s plan to bring the sport to “destination cities” to grow its global appeal.

  • That’s brought a flurry of economic activity to hosts, such as $900 million in economic activity during the Vegas race last year, $506 million in direct revenue over the past four races in Azerbaijan, and $1.5 billion in tourism to Monaco since 2008.

Proponents of the urban-set races say that they’ve expanded the sport’s fan base and decreased city pollution (people take public transit to enjoy the races).

Conversely, there are plenty of critics, who say that local businesses are hurt when public roads are closed off for construction, races can cause irreparable harm to cities (damage to historic areas, pulling out trees), and the cars are dangerous or annoyingly loud to residents.

Not everyone feels the need for speed.

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  • Read: Fast Company breaks down the successful math of how Krispy Kreme’s endless doughnut giveaways serve up booming business.

  • Watch: Derek Jeter stops by The Deal to discuss the life and business of being an owner of the New York Yankees after years of playing for them.

  • Listen: Puck’s Matthew Belloni and Dylan Byers chat about how former cable news stars are angling for second acts as digital influencers.

.CLIMATE.

Price point // Illustration by Kate Walker

Sensible Weather rolls out high-heat insurance

The Future. People typically take a vacation to experience unique weather (the beach, mountains, desert, etc.). But with climate change here, insurance companies like Sensible Weather are coming in to protect against potential extremes. As long as climate change continues to pose a threat, expect every traveler to put these insurances at the top of their packing list.

Sweat premium
Insurance is so hot right now.

  • Sensible Weather’s “weather guarantees” are essentially travel insurance for climate — you can get protection on an event ticket or lodging reservation in case inclement weather disrupts your plans.

  • Plans typically cost between 8 and 12% of a customer’s total booking price.

  • For example, a customer who books three nights at a campsite in Yosemite National Park for $250 would pay $25 (10%) for protection, which would entitle them to a refund if it rained for more than three hours per day during their stay.

Sensible Weather has already signed up several partners, including waterparks, resorts, and outdoor companies. It also struck a deal with the PGA and its golf facilities.

No one wants a thunderstorm ruining their tee time.

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Today’s email was written by David Vendrell.
Edited by Boye Akolade. Copy edited by Kait Cunniff.
Published by Darline Salazar.

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