Brilliant thread on LA fires and how it might change the economic future of LA and California - over $150 billion in losses and counting (that’s a third of Singapore’s GDP!!!) 

- No insurer will want to insure. Many exited already due to price controls

- The fires are devastating some of the costliest neighborhoods - with average home prices of $3 million 

- State’s FAIR protection plan is facing $20bn + in losses and counting. This will alter state finances for ever

- Poses a huge question on how the future of insurance changes as well. Insurance companies that stayed, might face bankruptcy.