Amazon, Berkshire Hathaway and JPMorgan Team Up to Disrupt Health Care
Amazon, Berkshire Hathaway and JPMorgan Chase announced on Tuesday that they would form an independent health care company to serve their employees in the United States. The three companies provided few details about the new entity, other than saying it would initially focus on technology to provide simplified, high-quality health care for their employees and their families, and at a reasonable cost. They said the initiative, which is in the early planning stages, would be a long-term effort "free from profit-making incentives and constraints."
The partnership brings together three of the country's most influential companies to try to improve a system that other companies have tried and failed to change: Amazon, the largest online retailer in the world; Berkshire Hathaway, the holding company led by the billionaire investor Warren E. Buffett; and JPMorgan Chase, the largest bank in the United States by assets.
Various health insurance and pharmacy companies were hit by the news:
The move sent shares of health-care stocks falling in early trading. Express Scripts Holding Co. and CVS Health Corp., which manage pharmacy benefits, slumped 6.7 percent and 5.5 percent, respectively. Health insurers Cigna Corp. and Anthem Inc. also dropped. The health-care industry has been nervously eyeing the prospect of competition from Amazon for months. While the new company created by Amazon, Berkshire and JPMorgan would be for their U.S. staff only, this is the first big move by Amazon into the industry. The new collaboration could pressure profits for middlemen in the U.S. health-care supply chain.
Related: $54 Billion Anthem-Cigna Health Insurer Merger Rejected by U.S. Judge
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(Score: 0) by Anonymous Coward on Tuesday January 30 2018, @10:02PM (7 children)
And look at that! You've already got laudatory upmods, despite calling for the forcible transmission of disease just to meet your political ends.
Well, what else can you expect from people who explicitly reject the philosophy of voluntary trade?
It's worth noting that Fascism sprung from Marxism, when Marxist predictions failed to materialize. You gotta force in the new paradigm by hook or by crook.
(Score: 0) by Anonymous Coward on Tuesday January 30 2018, @10:13PM (3 children)
Tongue in check is real.
At least she isn’t illogical.
Save the babies from evil abortion (unwanted babies are great for society!) so they can die in elementary to college due to gun toting kids (who probably didn’t feel loved).
(Score: 0) by Anonymous Coward on Tuesday January 30 2018, @10:25PM (2 children)
It's only tongue-in-cheek because you say it is.
It's not even defensive in nature; it's a totally aggressive point of view.
(Score: 2) by Azuma Hazuki on Tuesday January 30 2018, @10:32PM (1 child)
Look on the bright side; any attempt to give *you* AIDS via injection would fail, either because the viruses would refuse to work on you out of professional courtesy, or they'd be so disgusted they'd kill themselves rather than remain in your body.
I am "that girl" your mother warned you about...
(Score: 0) by Anonymous Coward on Tuesday January 30 2018, @11:08PM
AC is so bitter that your little quip gets better traction than their long diatribes.
(Score: 3, Informative) by Anonymous Coward on Wednesday January 31 2018, @02:43AM (2 children)
Marx described an international brotherhood of workers.
"Workers of the world, unite; you have nothing to lose but your chains."
That you managed to twist that into nationalism, racism, and collusion between Oligarchical Capitalists and government shows exactly how stupid you are.
-- OriginalOwner_ [soylentnews.org]
(Score: 0) by Anonymous Coward on Wednesday January 31 2018, @02:03PM (1 child)
You can scoff at me all you want, but that doesn't change history. Fascism sprung from Marxism.
(Score: 0) by Anonymous Coward on Wednesday January 31 2018, @04:36PM
Doubling down on ignorance. And you wonder why people downmod you...