Healthcare Venture++++++
On January 30, 2018, Amazon, Berkshire Hathaway and JPMorgan
Chase delivered a joint press release in which they announced plans to pool
their resources to form a new healthcare company for their U.S. employees.
According to the release, the company will be "free from
profit-making incentives and constraints" as it tries to find ways to cut
costs and boost satisfaction for patients, with an initial focus on technology
solutions.
"The healthcare system is complex, and we enter into this
challenge open-eyed about the degree of difficulty," said Jeff Bezos.
"Hard as it might be, reducing healthcare's burden on the economy while
improving outcomes for employees and their families would be worth the
effort."
Not long afterward, The Seattle Times reported that
more changes were afoot for Amazon, with the company consolidating its consumer
retail operations in order to focus on Alexa, AWS, digital entertainment
and other growing areas. An Amazon spokesperson confirmed the news, saying,
"As part of our annual planning process, we are making head count
adjustments across the company — small reductions in a couple of places and
aggressive hiring in many others."
In April 2018, as part of his annual shareholder letter, Bezos
said the company had surpassed 100 million paid subscribers for Amazon
Prime. He added that 2017 had been an outstanding year for hardware sales,
and that Amazon would continue to invest in expanding its customer base, brand
and infrastructure.
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