Well, obviously *some* tracks (e.g. Monaco, Spa-Francorchamps) are actually built on pre-existing roads, so they just follow those for the most part. A complete new build track is designed, though. The thought process should theoretically be to produce a track that provides for fast sections, slow sections, and also has overtaking opportunities. A lot of F1 tracks were designed by a guy called Hermann Tilke, but he’s been criticised for producing boring tracks and for butchering tracks that already existed (e.g. Hockenheim).
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