Yup that was the 'shorty' Gee Bee, quite difficult to control at high speeds as can be imagined. There were quite a high rate of crashes back in the Nineteen Thirties when this was designed because there was a 'craze' to design faster and faster racing aircraft at that time. Hughes was designing one (H-4?) himself which he crashed into the hills in Hollywood (CALIF.) and luckily survived. The Thompson trophy was a major event. Here's a link with more types described.
The spitfire also originated from a racing aircraft but of course of a more 'balanced' design. Almost all these were brilliantly designed and beautiful aircraft.