The real winner of F1 Miami

Plus, EV news to use [View in browser]( [Bloomberg]( Hi! It’s [Hannah Elliott](, your trusty automotive reporter and sports fan—and I have been thinking a lot lately about one once-niche sport that has grown into a multibillion-dollar industry. By now you’ve heard of it. Formed in the 1950s as a way for car manufacturers to test engineering, Formula One counts [445 million fans]( worldwide and bona fide superstars like [Lewis Hamilton](, who took in an estimated $62 million last year thanks to partnerships with brands such as IWC, Puma, and Monster Energy. F1’s most valuable team, Ferrari, is worth an estimated $1.35 billion. Charles Leclerc of Monaco driving the Ferrari F1-75 leads Red Bull Racing’s Max Verstappen, the Belgian-Dutch driver who ultimately won the race. Photographer: Jared C. Tilton/Getty Images North America Audiences in the United States have historically been meh about the sport. The lone F1 race on US soil has been held in Texas just since 2012; we haven’t had a championship F1 driver since Mario Andretti won almost half a century ago. But after decades of disparate F1 races gaining no real traction, we may have hit an inflection point in the US. Indeed, the F1 Miami race was such a big deal, it was Bloomberg Businessweek’s cover story. Photographer: Illustration: Viktor Hachmang Last weekend, the first-ever Formula One event in Miami attracted a sell-out crowd of 82,500 fans on race day and an influx of an estimated $400 million for the local economy. ABC’s coverage of the race saw a [record average viewership]( of 2.6 million—the largest audience for an F1 telecast ever on US TV, according to the network. Here are [10 reasons why you should become a fan]( if you’re not yet. The sport’s biggest star, Lewis Hamilton, almost skipped the Miami Grand Prix because of a jewelry ban he called “a step backward.” Photographer: Chandan Khanna/AFP/Getty Images I did not attend the race—my brother’s wedding in Seattle took priority!—but having attended [grand prix in Monaco](, [Texas](, and Mexico, and covering F1 drivers since my first big feature in 2012, I was not surprised to hear about how glitzy it all was. Miami boasted private jets and beach villas, [$3,000-a-head dinners](, and [wild parties]( where fans could hobnob with Venus Williams, David Beckham, and LeBron James. I was most curious to hear about was how it all went down for the fans. LeBron, Wayne Boich, Wyclef Jean, and Dwyane Wade showed up the $3,000-per-person Carbone Beach pop-up. Photographer: John Parra/Getty Images North America At least 15 people I interviewed who attended the race said the same thing: They loved it. With a few caveats. “It was a great experience,” said one Instagram friend who paid $730 for bleacher seats for the weekend. “If I had to pay for the general admission tickets, or bought resale at some of the astronomical prices that were listed, I would say not worth it, but for our price-point, I was happy.” The 3.36-mile, 19-turn circuit of the Miami International Autodrome was built next to Hard Rock Stadium, home of the Miami Dolphins. Photographer: Alex Bierens de Haan/Getty Images Europe “Overall, it was really well-organized, and people there were really friendly,” Tony King told me. He attended the race with his wife, Inii, his daughter, and her friend. The adults had paddock passes; the kids had general admission—which illuminated some logistical quirks. “It was difficult to even understand where things were and how you would get there—that was one downside,” King said. “You couldn’t just go from one pit to the other. That meant it took quite a long time to get anywhere. And it felt like there were lots of bits of the track you couldn’t get into. “For example, the marina. I saw it all over Instagram, and I never saw it anywhere at the race. I saw a lot more things you could do there on social media than I did in real life.” And it was hotter than blazes. King is right—logistics even outside of Miami can be a nightmare. Here’s how to attend a F1 race like a pro. Photographer: Bryn Lennon/Getty Images Europe “If it hadn’t been 93 degrees, all the other issues would have been minor,” one fan told me via Twitter. “The seats we had were in the sun, there was not much shade available for anyone who didn’t have a really high dollar ticket. Water was $5 a bottle and water stations had lines of 50 people or more. It was exhausting.” Las Vegas may escape that problem. Scheduled for Nov. 2023, the other brand-new F1 race in the US will happen when daytime temps average a balmy 70 degrees. Combined with Texas and Miami (which is contracted for 10 reasons), it makes for a strong trifecta of US F1 races—the most ever held in such a short timeframe. Back in 2015 while the sport was fresh to the US, I interviewed Alexander Rossi, America’s only F1 driver at the time. He went on to win the Indy 500 the next year. Photographer: Philippe Lopez/AFP/Getty Images It’s no wonder [Porsche and Audi are considering joining the field]( in 2026, or that brands like Girard-Perregaux are cranking out F1 watches as fast as the horologists in Switzerland can make them. For the first time for Formula One in the US, there is a real appetite for growth—and plenty of fuel behind it. Another great way to see Monaco aside from Formula One? Driving a Lamborghini Huracán up the coast. Photographer: Ambroise Tézenas for Bloomberg Pursuits You can connect with Hannah Elliott on  [Twitter](, [Instagram](, or [e-mail](mailto:helliott8@bloomberg.net?subject=Newsletter). Race fans, start your reading... [Formula One Finally Found a Way to Get Americans to Care]( The posh, stodgy European sport has been transformed for the U.S. with a hit Netflix series, race car drivers on Twitch, and a Miami-meets-Vegas overhaul. [The Miami Grand Prix Brings Racing, Legal Trouble, and $100,000 Tables at Clubs]( Miami’s first race has faced strong resistance, but now luxury brands are going big. [What Audi and Porsche Stand to Gain From Joining the Sport]( Much about the deal remains unclear—and to see upside, they’ve got to win. [Wild Formula 1 Miami Parties Draw LeBron, Ivanka, and Beckham]( In a city known for its over-the-top nightlife atmosphere, the big race weekend brought the dinners, dancing, and performances to the next level. [How to Attend a Formula 1 Race Like a Pro]( It doesn’t have to cost a fortune and is a lot easier than you think. In Other News These days, it seems like it’s hard for any vehicle that isn’t powered by electricity to get much hype. To wit: Most of the cars at the New York Auto Show [were electric](. Mercedes-Benz earned wild fanfare when it announced April 13 it had developed a prototype that would get [621 miles on one charge](. Ford and GM are in the middle of massive pushes behind their [electric F-150]( and [Hummer]( trucks. On May 11, Volkswagen announced it would infuse its [vintage Scout brand]( with electric SUV and pickup truck models. The range-breaking Mercedes-Benz Vision EQXX electric concept. Source: Mercedes Benz As a journalist, it’s exciting to get to learn about and experience all of this new technology, too. And I never forget that it all ties back to the same electric technology for vehicles [we’ve had for nearly 200 years]( (cool slideshow alert!), since the battery-run horseless carriages of the 1830s. If you’re into EVs as well, I highly recommend my colleague Dimitra Kessenides’s [Hyperdrive newsletter](. It’s a weekly compendium of all that is happening in the EV world, from the minute to the major. Below, some highlights of what’s crossed my desk. [What It’s Like to Drive 11 Hours in a $169,000 Lucid Air Electric Car]( [GM Electric Hummer Review: $110,000 Worth of Armor, With Soft Spots]( [Lincoln Unveils Electric Car Concept in Bid to Catch Up to Rivals]( [Lotus Electric SUV Is a Lean, Mean, China-Made Driving Machine]( [Porsche Confirms First Electric Two-Seater Will Be a 718, Not 911]( [Maserati Will Offer Electric Versions of All Its Cars by 2025]( What else I’ve been reading. - Clarissa Ward’s astounding new memoir, [On All Fronts](, chronicles her life as a war correspondent. She writes with an empathy, insight, and descriptiveness that are rare and compelling. - Maureen Dowd sheds light on the current state of the union in her latest on [Marilyn Monroe and Sam Alito](. It well-illuminates the recent, odd juxtaposition between the Met Gala and the Supreme Court leak. - Julia Burton’s seminal [The Artist’s Way]( workbook puts the reader through 12 weeks to rediscover—or meet for the first time—the creative self we all have. It is not a new book, and it sounds slightly [woo-woo](, but it’s very effective. (And yes, Julia, I have been doing my morning pages.) - Chris Rovzar’s diverting [recap of Geneva’s Watches & Wonders]( reminded me of a different life in which I covered high-end mechanical watches. I still retain a latent love of the intricate craftsmanship and painstaking precision of these horological wonders. You had some questions... So here’s some answers! Keep ’em coming for next week via our [Bloomberg Pursuits Instagram]( and [e-mail](mailto:daydreams@bloomberg.net?I have a question). What was up with the track in Miami? You may have heard some chatter about the 3.4-mile, 19-turn temporary track race organizers built in the Miami International Autodrome. There were some early concerns that drivers would not be able to do much overtaking, because its [unique composition]( of granite and lime-rock aggregate made for a rough, dirty surface compared to other tracks. Some resurfacing repairs were even needed going into race weekend. Leclerc on a practice lap. Photographer: Chris Graythen/Getty Images North America As it turned out, surface temperatures, which greatly affects the rubber on which cars race, were the hottest of any F1 track. In the end though, after race officials used huge sweeper machines and constant vigilance to get the track smooth on even the most micro of levels, all went well on race day. If you could recommend one F1 race to attend, which would it be? The race in Monaco later this month is the crown jewel, bucket-list, granddaddy of all car races. First held in 1929, with racers driving Bugattis, Maseratis, and Alfa Romeos, the [Monaco Grand Prix]( is a spectacle of old world beauty, nouveau riche fans, automotive heritage, and the most cutting-edge technology we can produce today. If you can afford to do it, don’t hesitate. I wrote a guide to the Monaco Grand Prix back in 2016. (I hope my editors see that date and realize it’s time to send me back for an update.) Photographer: Mark Thompson/Getty Images Europe It’s also extremely expensive and can be difficult to get to for American fans. So closer to home, I’d go to the [F1 race in Mexico City]( in October. The wild passion and devotion of Mexican F1 enthusiasts when you get inside the Autódromo Hermanos Rodríguez is deafening. Combined with the vibrancy of CDMX, the whole experience is intoxicating and memorable. The roar, the riches, the history—nothing beats F1 in Monaco. Photographer: JARNOUX Maurice/Paris Match Archive What’s the most obvious thing car companies get wrong? I wish motor companies would not so transparently try to sell “cool.” Porsche tapping into American culture from the 1950s for some of their marketing reminds me that David Hasselhoff is cool in Germany, too, but using him in ads here would read as silly. There are nuances to these things that those not born and bathed in American pop culture—or any country’s for that matter—don’t fully grasp. I also wonder about the wisdom of latching onto flavor-of-the-week influencers that the brand promotes briefly and then drops. The dude who got his 15 minutes of fame by erecting [a tent on his Porsche 911]( is a good example. It’s not a revolutionary idea, but it hasn’t stopped the brand from promoting tents on several of its cars as if this is a whole selling point. The new LiveWire Del Mar costs half the price of its predecessor. Source: LiveWire Or, when midwestern motorcycle brands like Harley-Davidson try to market themselves as suddenly “cyber punk” or “hip-hop,” as were some of the themes at the L.A. launch party for their [new $15,000 LiveWire electric bike](. It comes off as disingenuous—like they’re buying influencers rather than taking the time to get to know the real culture they’re trying to emulate. None of this is new. Corporations have tried to buy and sell “cool” as long as they have existed. But the best automakers focus most on making vehicles that embody their own stated values and philosophies and work hard to grow communities of enthusiasts who come to the brand in a genuine way. If the product well translates the unique ethos of the company, consumers will respond. If you could buy one new car today and save it for the grandkids, which would it be? I’d buy the [Ferrari Roma](. And I’d buy it in a color besides the ubiquitous Ferrari red. The Roma combines classical good looks from a brand with proven investment worth and superior craftsmanship and performance. I love that thing! In fact, I called the 2021 model the most perfect Ferrari on the road today. Photographer: Robin Trajano Thanks for reading. Click in next week when my colleague James Tarmy is here to make sense of the art market ($195 million Warhol!) and talk about summer’s best culture to vulture. Ask him anything ahead of time on [Twitter]( or [via e-mail](mailto:jtarmy@bloomberg.net?subject=Tips,%20ideas,%20saying%20hello). And if you haven’t yet clicked those icons below to give Pursuits a follow, do that now and thank us later. Follow Us Like getting this newsletter? [Subscribe to Bloomberg.com]( for unlimited access to trusted, data-driven journalism and subscriber-only insights. You received this message because you are subscribed to Bloomberg's Pursuits newsletter. If a friend forwarded you this message, [sign up here]( to get it in your inbox. 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