The escarpment and the high country
The race starts at 5:00 AM in Olympic Valley at about 6,200 feet, and the first thing it does is climb hard. Roughly 2,550 vertical feet in the first 4.5 miles up to Emigrant Pass at around 8,750 feet, the high point of the day. You gain all that altitude before the sun is even up, on fresh legs and a body that is not warmed up yet. It is a sneaky opening. Easy to attack, and easy to regret.
From the pass you run through high-altitude singletrack and old-growth forest that, in heavy snow years, can still be partly under snow well into June. Pace this part by effort and by breathing, not by your sea-level numbers. The altitude makes every grade feel harder than it is, and the day is way too long to be burning matches up high.