Could Speculative Weather Trading Improve Weather Forecasting?

Today, Evan shares an interesting story about how speculative weather markets could be valuable to businesses that rely on weather forecasting to make decisions by crowdsourcing information about local weather patterns. Listen along to hear why the losers for speculative markets (a.k.a gambling) are always the traders and how these speculative markets don’t appear out of nowhere, but are usually started by companies or industries that partner with trader platforms to get information from users. Later in the episode, Evan discusses some inventions from the last century that have revolutionized the world and how capitalism is the best source of invention and prosperity because it rewards people who take risks.  

 

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