Morning Brew Daily Historic Wildfires Engulf LA & The Biggest Problem with Cars is... Software?
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Jan 9, 2025 Wildfires in Los Angeles wreak havoc, forcing evacuations and shedding light on the climate crisis and insurance challenges. Meanwhile, Bill Ackman pushes for the privatization of Fannie Mae and Freddie Mac, raising eyebrows in the mortgage market. On the tech front, cars are becoming overly reliant on software, creating issues for traditional makers as innovative electric vehicles rise. Amidst these topics, insights on declining wine consumption and Chick-fil-A’s lemon squeezing robots add a quirky twist to the conversation.
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LA Wildfires Devastate
- The Palisades fire in Los Angeles has grown to over 17,000 acres, destroying at least 1,000 structures.
- Over 100,000 people have been evacuated, and schools are closed due to the ongoing fires.
Wildfire Causes
- The combination of bone-dry conditions, 100 mph Santa Ana winds, and abundant dry brush due to previous wet winters fueled the fires.
- Climate change, specifically "hydroclimate whiplash," played a role in creating these conditions.
Insurance Implications
- UCLA climate scientist Daniel Swain referred to the winds as an "atmospheric blow dryer."
- Insurance companies like State Farm have reduced coverage in high-risk areas, increasing reliance on the state's Fair Plan.