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Axios Re:Cap

The Coming Storm

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 12 September 2018

⏱️ 10 minutes

🧾️ Download transcript

Summary

Dan dives into Hurricane Florence and how extreme weather impacts business, with Axios Science editor Andrew Freedman. Plus, in his Final Two, he talks about a possible vaping ban and why Sprint's merger with T-Mobile is no longer a sure bet.

Transcript

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0:00.0

Welcome to Axis ProRata, a podcast that takes just 10 minutes to get you smarter on the collision of tech, business, and politics.

0:11.0

I'm Dan from Mack. On today's show, the government threatens to end vaping and a possible problem for Sprint's mega merger with T-Mobile.

0:19.0

But first, the big storm.

0:21.6

As you've certainly heard by now, the Carolinas in Virginia are bracing for Hurricane Florence,

0:26.6

which can make landfall as early as tomorrow.

0:28.6

And it's going to be a whopper, particularly in coastal areas where the storm might simply hover for hours,

0:33.6

with winds exceeding 100 miles an hour.

0:35.6

A million people have been evacuated, and a lot of us with friends and family in that region

0:40.3

are at this point just kind of keeping our fingers crossed.

0:43.3

Now, to be sure, the single most important thing is keeping people safe.

0:47.3

But the longer-term reality is that extreme weather is on the rise, which becomes as much an economic issue as a human one.

0:53.3

And we're not just talking about hurricanes here, but tornadoes and heat waves and ice storms and droughts.

0:59.0

In fact, last year, the World Economic Forum said that extreme weather was the top concern for business leaders,

1:05.0

outpacing both cyber attacks and natural disasters.

1:09.0

And since 2014, companies are required by law to

1:13.6

communicate material climate change risks to investors. So here's an example. Storms associated

1:19.1

with the heat waves have been known to knock out internet infrastructure, like data centers.

1:23.3

And this week, companies from Boeing to Pfizer have already taken manufacturing facilities

1:27.8

in the Carolinas offline in preparation for Florence.

1:30.8

The bottom line is that in our collective absence to be proactive about climate change, we're

1:36.0

now all forced to be reactive.

1:38.4

And the costs in terms of both life and treasure is only likely to increase over time.

...

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