This morning’s Observer column about the collaboration between Amazon, Warren Buffett and JP Morgan:
Launching the initiative with his customary folksy bluntness, Buffett said that “the ballooning costs of healthcare act as a hungry tapeworm on the American economy. Our group does not come to this problem with answers. But we also do not accept it as inevitable.” If this – plus the fact that the new venture is to be a not-for-profit enterprise – was intended to be soothing, then it failed. The announcement immediately wiped billions off the valuations of the corporate tapeworms that have for decades fastened like leeches on the US healthcare system. And it’s not Buffett that scares them, but Jeff Bezos, Amazon’s chief executive and founder.
They’re right to to be scared…