PittRACE Sold and Closing?

Haven't read all the way through this thread but yesterday a friend of mine went up to do super Moto and he said they have already started tearing the place up.
Not sure if that's already posted in here but PittRace is gone folks.

 

Those soon to be unemployed actors (looking at you Emily Blunt) can learn to code too.

Now, where can I hire a good mariachi band?

 

The only thing that could interrupt it is the data center is going to skyrocket everyones power bill. Then people have a right to fight it. Has nothing to do with saving a track.

 

Tilly will fill in for all those cancelled actroids.

 

the track will be gone by then, so...

 

Power and water. Data Centers use massive quantities of both. Water (8-10 acre-feet/day) to cool all the stuff, electricity to heat it all up while its inefficiently doing other stuff.

 

No, that guy needs to get a grip.

 

Big ass heat exchangers. The company I work for makes them and I’m working on a project to increase our production capacity right now because the data center market is exploding.
Stinks that PittRace is closed, but very good for our company.

 

If only to reinforce how dumb I am, I can't imagine WHY any company that deals in any big or heavy things would want to operate a facility on top of a mountain.

A quick Google Maps look at the extended area reveals a lot of undeveloped land that's NOT on top of a mountain. Confusing to me, for sure.

 

There has got to be something about sucking the joy out of the racetrack in the agreement.

 

The power needed to run is there and the water tower already there is what I was told is why they attacked that place so hard. I don't believe anyone that says they would have said no to 200 million just to save a race track.

 

My brother in law runs projects for a huge construction equipment rental/supplier and has moved on from the intel chip project in Ohio that turned into a total shitshow. He’s now running data center projects and says that a huge number of them in the Midwest are running on generators and are in temporary structures because they can’t build fast enough and the grid can’t support them. This situation will likely reach a tipping point sooner than later.

 

At what point do these huge investments become redundant if quantum computing takes off?

 

Those things are almost all cooling systems to get them close to absolute zero.

IMO AI is in a bubble phase right now. It's the new blockchain buzzword. Other than using it to summarize data, nobody knows how the hell to implement it in their company. And projects touting AI are falling on their faces everywhere.

And datacenters are right behind in terms of bubble. Somehow we're not hitting performance bottlenecks right now yet we're scrambling to add capacity. Sumpin ain't addin up.

 

It may be 50/50 on whether you're a fudd or a genius... but where else you gonna invest? (shuddup auminer). If the tech sector (married to AI now) implodes, the whole market is going down with it.
To me the potential upside is way bigger than the alternatives.

 

Hmmmmm sounds like the tech boom/bust with the internet in 2000

 

maybe, only time will tell. I do know that during those events if people didn't do stupid shit and just held and waited they would have been just fine.

 

Well that isn't true. I had some stock that tanked. One I still remember the symbol on, is one I lost 6 figures in. It would be comparable to Nvidia today, in that everyone was talking about it and it was supposedly a great company and stock. It was not a penny stock, like DTREF, which I know is risky. This, at the time, seemed less risky than Apple. As a matter of fact, around that time, I remember apple being under $1 and I decided I didn't want to touch that POS.

CMGI is the stock. If I remember correctly I paid approx. $150 a share for it. I do remember me and my buddies buying more on the way down. That's where I learned the saying "never try to catch a falling knife"

Info below is from a google search:

During 1999, CMGI's stock surged and underwent multiple splits, making its per-share value change dramatically over the year. This was part of the broader "dot-com" bubble that saw massive speculation in internet companies. The company reached its pre-split all-time high of $199.69 on March 8, 1999.
Significant stock price points in 1999

• March 8: CMGI stock hit a record high of $199.69 in Nasdaq trading.
• November 29: After jumping fivefold earlier in the year, shares closed at $155.50.
• December 15: Following an announcement of a stock split, shares closed at $199.75 and rose to $230 in after-hours trading.
• December 31: CMGI closed at $276.875 on the final trading day of the year.

Stock splits in 1999
To find the comparable value of a single share, it is essential to adjust for the splits that occurred. CMGI announced its third stock split of 1999 in December. The company's history includes at least four splits between 1998 and 2000.
Final market value

Despite the variable stock price, CMGI finished 1999 with a market value of $41 billion, and was hailed as the best-performing U.S. stock of the preceding five years.

During 2001, CMGI's stock price fluctuated significantly as the dot-com bubble burst. Some notable prices throughout the year included:

• January 2000: The stock traded as high as $160 a share.
• May 2001: Shares were fetching $4.81.
• September 2001: The stock dropped to below $2.00 a share.
• November 2001: It traded at $2.26.

 

By some metrics this bubble is even more bubbly than 1999.

Michigan consumer sentiment is down to ~55

S&P500 bullish sentiment is in the 70s.

That's a frightening dichotomy.

But let's keep on whistling past that graveyard.

 

I remember that puppy well.