Measure 1/3 cup of warm water in a 2-cup liquid measuring cup. Whisk yeast into the water; let stand until dissolved and starts to bubble, a couple of minutes. Add remaining 1 1/3 cups of water for 1 2/3 cups total; add olive oil.
Pulse flour and salt in a large food processor. Pour liquid ingredients over the flour; process to form a rough, soft ball, adding a little water if dough is clay textured or a little flour if dough is soft and sticky. Continue to process to machine-knead dough until smooth, about 30 seconds longer.
Spray or oil an 18- by 12-inch rimmed baking sheet and dust with cornmeal to coat pan bottom. Turn dough onto a floured surface and knead a few seconds to form a smooth ball; place on prepared pan, cover with cook spray-coated plastic wrap, and let rise until dough doubles and then starts to collapse, a minimum of 4 hours and up to 8 hours.
When ready to bake, heat oven to 550 degrees*. Stretch relaxed dough up the sides of the rimmed baking sheet and with greased hands, press top of dough in place.
Bake in preheated oven until crust is golden brown, about 10 minutes. Remove from oven and continue with topping. (Crust can be cooled and frozen for a couple of months.)