3 ms·
There’s so much money tied up in SXSW for the entire city that I’m sure there’s a ton of pressure to keep it on no matter what.
by mdorazio 7y ago
There’s so much money tied up in SXSW for the entire city that I’m sure there’s a ton of pressure to keep it on no matter what.
- marklacey 7y agoThey may be insured. However they may also have a large deductible and need to eat quite a few costs.
- luch 7y agomost insurance companies will play the "force majeure" card in order to exempt themselves from reimbursing clients. No insurance company is solvable against a global pandemic event.
- btilly 7y agoNo insurance company is solvable against a global pandemic event. Except Berkshire Hathaway: https://www.reuters.com/article/us-berkshire-buffett-insurance/buffett-says-berkshire-can-handle-400-billion-mega-catastrophe-idUSKCN1G80RA https://www.reuters.com/article/us-berkshire-buffett-insuran... If Warren Buffett himself survives, I expect to see his shareholder letter next year talking about how their losses notwithstanding, COVID-19 left Berkshire Hathaway in a stronger position relative to the rest of the insurance industry, and has improved their outlook for the future.
- jhayward 7y agoOnly a small number of very narrow segments of business benefit from SXSW - but they benefit a lot. The rest of Austin businesses, and Austinites, suffer degradation and losses. Ask any downtown business that's not in the lodging/entertainment industry.