I wanted to cover this – the Amazon-Berkshire Hathaway – JP Morgan Chase joint venture named Haven to disrupt health care is shutting down. The company will shutdown by the end of the month, after three years of apparently independent efforts.
When launched, this effort caused shares of health-care companies to tumble based on the danger of a technology / finance alliance disrupting the space.
Big tech can move whole industries with just announcements. Was this a real effort, or just publicity stunt?
If you hear that the companies didn’t actually work together – instead staying separated and three years later have nothing to show for it – and instead disrupted the market by press release.
Why we care is that when we talk about regulation, it’s actions like this that show the power of big tech, and why I expect this to change this year.
Source: CNBC