The All-In Podcast
🚨🚨 pod up!!
@benshapiro fills in for @DavidSacks
the besties analyze trump's big week!:
-- middle east trip, trump's vision for a "new middle east"
-- us-china deal
-- pharma executive order
-- GOP split over "big, beautiful bill"
(0:00) the besties welcome ben shapiro!
(1:53) a bestie apology to phil hellmuth, all-in poker tournament
(7:58) trump's majorly consequential middle east trip: saudi, qatar, iran, and his vision for a "new middle east"
(35:18) us-china deal: is the tide turning on tariffs?
(46:33) gop divided over "big, beautiful bill" due to its impact on the us debt spiral
(1:18:48) science corner: montana bans cell-based meat, joining florida and others
(1:24:31) trump's eo on pharma prices: role of pbms, is this too much government intervention?
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🚨🚨 pod up!!
@benshapiro fills in for @DavidSacks
the besties analyze trump's big week!:
-- middle east trip, trump's vision for a "new middle east"
-- us-china deal
-- pharma executive order
-- GOP split over "big, beautiful bill"
(0:00) the besties welcome ben shapiro!
(1:53) a bestie apology to phil hellmuth, all-in poker tournament
(7:58) trump's majorly consequential middle east trip: saudi, qatar, iran, and his vision for a "new middle east"
(35:18) us-china deal: is the tide turning on tariffs?
(46:33) gop divided over "big, beautiful bill" due to its impact on the us debt spiral
(1:18:48) science corner: montana bans cell-based meat, joining florida and others
(1:24:31) trump's eo on pharma prices: role of pbms, is this too much government intervention?
tweet
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Offshore
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Investing visuals
$UNH: a steady compounder, but under a lot of pressure lately. https://t.co/H1GdohrXon
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$UNH: a steady compounder, but under a lot of pressure lately. https://t.co/H1GdohrXon
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Investing visuals
$NFLX stock is at an all-time high right now. This of how they make money 🫰 https://t.co/olUQcmnunC
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$NFLX stock is at an all-time high right now. This of how they make money 🫰 https://t.co/olUQcmnunC
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Wall St Engine
TRUMP: Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between $WMT and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!
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TRUMP: Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between $WMT and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!
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App Economy Insights
📊 This Week in Visuals:
🛒 Walmart $WMT
📱 Tencent $TCEHY
🌐 Cisco $CSCO
🖥️ Sony $SONY
🏦 Nu $NU
🎮 Take-Two $TTWO and more!
https://t.co/JtHSp42TRv
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📊 This Week in Visuals:
🛒 Walmart $WMT
📱 Tencent $TCEHY
🌐 Cisco $CSCO
🖥️ Sony $SONY
🏦 Nu $NU
🎮 Take-Two $TTWO and more!
https://t.co/JtHSp42TRv
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Offshore
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App Economy Insights
What are you watching this week?
• Tuesday: $HD $PANW $AS
• Wednesday: $SNOW $TGT $ZM $LOW
• Thursday: $ADI $ADSK $INTU $WDAY
All visualized in our PRO coverage on Saturday. https://t.co/ru6DVvgdaB
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What are you watching this week?
• Tuesday: $HD $PANW $AS
• Wednesday: $SNOW $TGT $ZM $LOW
• Thursday: $ADI $ADSK $INTU $WDAY
All visualized in our PRO coverage on Saturday. https://t.co/ru6DVvgdaB
tweet
Offshore
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Wall St Engine
Trump: THE CONSENSUS OF ALMOST EVERYBODY IS THAT, “THE FED SHOULD CUT RATES SOONER, RATHER THAN LATER.” Too Late Powell, a man legendary for being Too Late, will probably blow it again - But who knows??? https://t.co/qfKWtoINQK
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Trump: THE CONSENSUS OF ALMOST EVERYBODY IS THAT, “THE FED SHOULD CUT RATES SOONER, RATHER THAN LATER.” Too Late Powell, a man legendary for being Too Late, will probably blow it again - But who knows??? https://t.co/qfKWtoINQK
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Offshore
Video
The All-In Podcast
Friedberg: Two Reasons Why Drug Prices are So Expensive in America 📈 🫰
1) Government intervention in the market 🏢
"The way that we negotiate drug prices is pretty messed up."
"As is the case with the cost of education and the cost of housing, the cost of drugs is largely inflated because of the federal government's role in being the primary buyer or capital provider to that market."
"Through our purchases of prescription drugs, the federal government, as a buyer, doesn't have any incentive to keep prices low."
" If every individual had to pay for their drugs, or private insurance was the only way to get your drugs, we would have a much more dynamic marketplace."
2) PBMs marking up prices 📈
"There's also this construct in the market, these PBMs or pharmacy benefit managers."
"If they got cut out of the market, it would save a lot."
"There's three major PBMs, CVS Caremark, Express Scripts, and Optum RX. They make money in markups."
"The FTC has been investigating them and have several open cases."
"Between 2017 and 2022, the estimate is that these companies generated $7.3B in excess profit by marking up prices on specialty generic drugs."
"So as an intermediary, they provide this role where they can coordinate between the health insurer, the pharmacy which dispenses the drugs, and the drug manufacturers."
Chamath:
" But they're allowed to be owned by the payer, which is crazy."
Friedberg:
" And now they're allowed to be owned by the payer."
"And there's a lot of obfuscation of the true cost of the drugs. There's a lot of markups, a lot of spread taking."
"And so if you took the PBMs out of the market, that would solve one of the problems."
" But at the end of the day, anytime the federal government is involved as a payer in any market-based system, it creates a distortion and the market is no longer free or efficient."
@friedberg
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Friedberg: Two Reasons Why Drug Prices are So Expensive in America 📈 🫰
1) Government intervention in the market 🏢
"The way that we negotiate drug prices is pretty messed up."
"As is the case with the cost of education and the cost of housing, the cost of drugs is largely inflated because of the federal government's role in being the primary buyer or capital provider to that market."
"Through our purchases of prescription drugs, the federal government, as a buyer, doesn't have any incentive to keep prices low."
" If every individual had to pay for their drugs, or private insurance was the only way to get your drugs, we would have a much more dynamic marketplace."
2) PBMs marking up prices 📈
"There's also this construct in the market, these PBMs or pharmacy benefit managers."
"If they got cut out of the market, it would save a lot."
"There's three major PBMs, CVS Caremark, Express Scripts, and Optum RX. They make money in markups."
"The FTC has been investigating them and have several open cases."
"Between 2017 and 2022, the estimate is that these companies generated $7.3B in excess profit by marking up prices on specialty generic drugs."
"So as an intermediary, they provide this role where they can coordinate between the health insurer, the pharmacy which dispenses the drugs, and the drug manufacturers."
Chamath:
" But they're allowed to be owned by the payer, which is crazy."
Friedberg:
" And now they're allowed to be owned by the payer."
"And there's a lot of obfuscation of the true cost of the drugs. There's a lot of markups, a lot of spread taking."
"And so if you took the PBMs out of the market, that would solve one of the problems."
" But at the end of the day, anytime the federal government is involved as a payer in any market-based system, it creates a distortion and the market is no longer free or efficient."
@friedberg
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