Startups Think They Can Beat Wildfires, But Insurance Companies Aren’t Buying It Yet

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VCs are pouring millions into ‘firetech’ companies, even though their tools are a “drop in the bucket” in terms of addressing this increasingly destructive problem.

. “It’s not like you’re selling them a piece of HR software. You’re selling them solutions to their biggest existential threat.”

Janet Ruiz, an III spokesperson, cited the law as the reason for why California’s insurance rates have been “artificially low” for the past 35 years. “None of the companies went bust,” he said. “The rates were designed to let them make a profit and they did. It’s a free enterprise system: they’re not guaranteed profits.”, a climate scientist at the University of California, Los Angeles, wonders if conventional firefighting really needs Silicon Valley tech to improve its efficacy. He views most of these firetech innovations with what he calls “extreme skepticism.

 

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