Tech biggies turn to car racing

For wealthy entrepreneurs in Silicon Valley, the best way to network isn't playing a round of golf but racing sports cars. Race-car enthusiasts at big tech companies like Apple, Facebook, and Google form groups and rent out local tracks on the weekends. The rush of racing apparently lends itself to building relationships, many of which have led to lucrative business deals.

Jeff Bonforte, Yahoo's senior vice president for communications, told The New York Times, "You just bond instantly with everyone else who's doing it. Whoever you're with at the moment, your brain is so happy that it washes over you, and the happiness lends itself to anyone else who is with you." The racing is usually done with high-end cars — think Porsche, BMW, Ferrari, and Aston Martin, cars that cost upwards of $50,000 (Rs. 31 lakh approx).

Renting a car for a day, however, usually costs a few hundred dollars. Kevin Buckler, a former professional driver who now runs the Aston Martin Racing franchise, said that he hosts events for tech companies several times a year. Some clients are trying to attract employees or customers, while others are entrepreneurs looking to make connections with wealthy venture capitalists. "We let you invite your customers to Laguna Seca Raceway for a morning, where they'll get professional instruction driving Aston Martin race cars, and then we wrap up with a nice dinner or wine tasting," Buckler said.