Amazon, Berkshire Hathaway And JPMorgan Chase Launch New Health Care Company
When you read this following paragraph about the just announced new Amazon, J.P. Morgan and Berkshire Hathaway you should step back and consider what they really mean “free from profit-making incentives and constraints.”
Berkshire Hathaway Chairman and CEO Warren Buffett (left) in 2017; Jeff Bezos, CEO of Amazon, in 2013; and JP Morgan Chase Chairman and CEO Jamie Dimon in 2013. Berkshire Hathaway, Amazon and JPMorgan Chase are teaming up to create a health care company announced Tuesday that is “free from profit-making incentives and constraints.”
Here’s what it means:
– this giants are using money from other divisions to fund this new health care company
– they are after data
– they aren’t doing it for profits
– they have the powerful Amazon cloud to power it.
Their stated goal is to provide high quality health care for their employees at a lower cost.
Their real goal is to control health care data. Amazon is an voracious monopoly which uses its technology and reach to gobble up of the markets. Berkshire Hathaway uses its power to buy up local newspapers and real estate offices. Together they represent a threat to local businesses, local real estate agencies, local insurance companies.
Have no doubt! Their health care idea is a good one. Healthcare needs to be reformed and injected with more competition. But sadly that is not the point. The point is they have an unfair and monopolistic market advantage because they focus is not on healthcare but DATA. Unfair because they are using their enormous business revenues to fund this new healthcare enterprise which means they will be willing to lose billions of dollars a year for many years to gain market dominance.