>Three corporate giants are teaming up to combat what billionaire Warren Buffett calls a “hungry tapeworm” feasting on the U.S. economy: health care.
>Amazon.com Inc., Buffett’s Berkshire Hathaway Inc. and JPMorgan Chase & Co. said they plan to collaborate on a way to offer health-care services to their U.S. employees more transparently and at a lower cost. The three companies plan to set up a new independent company “that is free from profit-making incentives and constraints,” according to a short statement on Tuesday.
>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.
>“Hard as it might be, reducing health care’s burden on the economy while improving outcomes for employees and their families would be worth the effort,” Amazon Chief Executive Officer Jeff Bezos said in the statement. “Success is going to require talented experts, a beginner’s mind, and a long-term orientation.”
>Companies providing social services to its employees
Sounds pretty fashy to me. Sounds comfy if they pull it off desu
Joseph Russell
Healthcare is so screwed these mega corps make their own. It's win win really.
Oliver Williams
if you honestly think it wouldn't eventually go full-scale full-profit and just turn into the new 'big pharma' you're out of your mind
Kayden James
I work as an RN at a hospital and one of the instructors of a clinical group at the time said that Amazon is sending people to get their Certified Nursing Assistant licenses. They could be opening up nursing homes in the future. Who knows what it means.
Zachary Sanchez
>They could be opening up nursing homes in the future. Who knows what it means. It means more spics, guatemalans, filipinas, thais, nigerian women stealing, beating, abusing old white american people.
Angel Price
is this solely for berkshire employees, or all their US subsidiaries as well?
Jackson Rodriguez
Just what they deserve, and when theyre too feeble to do anything to stop it. Like pottery really.
Jayden Powell
There is nothing more important on Sup Forums than this, other than the memo. I wonder if that's why they chose to go public with the announcement today.
Jaxson Young
For now its just for employees of Amazon, Berkshire and JPMC, but looks like they're piloting it internally with opes of going public.
Ryan Powell
It was weird though. They sent people from the amazon warehouse in the area to get these licenses. Multiple classes of 20+ people all full of them.
Bentley Brown
Now THIS is healthracing!
Kayden Powell
Big pharma isn’t going to be impacted though. It’ll be insurance companies that will lose business, not big pharma
Mason Williams
So what's what happened to my stocks today.
Dylan Hall
berkshire hathaway has something like 17 wholly-owned subsidiaries. i'm wondering if the US companies are included, and if so, how are they going to handle the international re-insurers. interesting.
Lincoln Williams
Probably down. Ones that I’m in or follow are down anywhere from 1-4%
>>“Hard as it might be, upon the advice of my financial advisor, Avi Goldschekelbergstein, reducing the stock price of healthcare companies I have a short interest in while improving outcomes for my bank account and my partners families would be worth the effort,” Amazon Chief Executive Officer Jeff Bezos said in the statement. “Success is going to require these companies stock take a nose dive, a virtual stock shoah, and lose 6 gorillion shares.”
Lucas White
That’s still only affecting the pill counter pharmacy companies. Big pharma (J&J, Gilead, Amgen, etc) aren’t really affected by this
Benjamin Kelly
Similar. What a shame.
Ryder Thompson
ANGUS STATUS: IN DE FIIIYYAAAAAHHHH!!!!
HOOOOOOOOO SHHHHHHIIIIIIIIIIIIIIIIIIT!
Jack Thompson
This is getting shilled really hard. I wonder why. It's almost like Bezos, Dimon and Warren Buffet actually pull the strings of this country.
