A few years ago I had the idea of building a business that would allow people to financially hedge against bad weather. For instance, if you bought tickets to a sporting event above face value and were afraid that it might get rained out and leave you out a lot of money, you could buy a type of insurance that would pay you off if the weather caused the game to be cancelled. Apparently I wasn’t the only person to come up with this idea. WeatherBill is a San Francisco, CA based startup that is doing exactly that. Many think entrepreneurship is all about having a good idea, but it’s not. It’s about execution. WeatherBill is a perfect example of an awesome idea that is being executed well. The potential for this idea is absolutely unbelievable, and WeatherBill is already beginning to realize it. They don’t call what they offer “insurance” because there is no need for a claims process or a proof of loss. I guess you can call it a hedge, as it allows you to “get paid for weather that’s bad for business.”
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