. >> reporter: in the final weeks before the first race, businessman dale dylan was brought in to tieth loose ends. he's credited with saving the race. >> was city of baltimore was beautiful last year, and i think we were very proud to be here. >> reporter: when the city needed a new promoter after the financial failure of the first, they recommended dale dylan >> to give them the confidence level that the event's going to happen. >> reporter: that was him eight weeks ago in baltimore for a press event. but now his company is spinning its wheels, deadlines are missed, no title sponsor and tickets are not for sale. >> when deadlines are missed, we reach out and want it to be on track. >> reporter: the city told them to fix the problem. >> i'm convinced with inn i did stepping up, this will be a showcase event. >> reporter: they have stepped up by promises stable leadership and a title sponsor. but a local expert whose put on big events himself says time has really run out. >> it's going to be hard to pull off at this point. >> reporter: jeff dudley raised the money to build the stadium

when the city needed a new promoter after the financial failure of the first, indy car recommended dale dylan. >> you have to give them the confidence level that the event is going to happen. >> reporter: that was dylan, just eight weeks ago, in baltimore, for a press event. but now, his company is spinning its wheels. deadlines are being missed. there's no title sponsor. and tickets are not for sale. >> when deadlines are missed. we reach out. >> the city summoned indy car leaders and told them to fix the problems. >> i'm convinced with indy stepping up, this is going to be a showcase event. >> reporter: sources say indy car has stepped up by promising stable leadership and a title sponsor. >> reporter: but a local sports marketing expert, who has put on pretty big events itself, says time has really run out. >> it's going to be hard to pull off at this point. >> reporter: jeff dudley raised the money to build towson u., and major local lacrosse tournaments. >> i don't know if they have their websites up and running. i don't know if they have their systems in place to deliver. >> some say, b

. >>> thanks, dale dylan., photo sharing service, for $1 billion. it doesn't even use a website. just access it on your mobile phone. now days the computing experience moves from the desktop to laptop to mobile to google glasses. companies that have proven their appeal on the newest platform can sell for big bucks. good for them. but i do want it point out a problem with this business model which dill yn and i have discussed before. instagram did not sell its 13 employees for a billion dollars this week. it did not selç its photography software for a billion dollars. remember kodak just filed for bankruptcy this year and they are the ones who invented polaroids. now instagram's most valuable asset is you its customer base of 30 million people. and it just sold to you facebook. there's a famous internet saying that explains if you're not paying for it, you're not the customer, you're the product being sold. that's why instagram doesn't need revenue or eliberate business model. it has the legal rights to the pho