It was announced yesterday that the new United States based Formula One team US F1 signed a deal with Youtube to be its primary investor.  In an interview with Autosport.com, YouTube’s co-founder Chad Hurley sees tremendous potential in this deal to integrate new media and social connections into Formula One.

Photo: Christiaan Ploeger

As a huge Formula One fan, I am excited about what new exposure this partnership will bring.  Furthermore, many web start-ups pride themselves on their transparency and increased connection with customers and fans, a quality that would be warmly welcomed by fans of Formula One right now.  The FIA and Bernie Eccelstone, the primary authorities in Formula One racing, have created a culture of secrecy, which has permeated throughout all of the teams.  Constantly changing rule sets, and a leadership aristocracy, has created strife among the racing teams, which almost resulted in a formal separation in the series.  I am hopeful this partnership will demonstrate how much businesses can benefit from increased levels of fan involvement and transparency, qualities that are both seen commonly by web start-up companies.  The success of this campaign will have implications on all other types of businesses, who are not actively leveraging web technologies.

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What other types of web technologies do you think the USGPE team should consider to help them build a fan base in the US?


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