This chapter outlines the transformative changes in Medicare's drug pricing strategy, emphasizing a landmark announcement about lower costs for ten medications. It highlights the potential savings for Medicare and consumers due to new negotiation powers granted by the Inflation Reduction Act, particularly benefiting older Americans.
Episode 389: Neal and Kyle discuss Biden’s historic Medicare negotiating power that is set to discount many drugs for Americans, an estimated cost savings of $6B. Then, Walmart reports their earnings and it looks like the retail king keeps their crown as sales hit a near all-time high. Next, Musk releases a new version of his image generator, Grok, which doesn’t care too much about the rules most AI tools should abide by. Meanwhile, the FTC finalizes a ban on fake reviews that companies use to coax customers. Plus, newly minted Starbucks CEO Brian Niccol gets a hefty pay package, dubbing him the ‘LeBron James’ of restaurants. Lastly, Steve Ballmer’s $2B Inuit Dome, home of the LA Clippers, is set to open with a performance by Bruno Mars.
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00:00 - Emergency Subway meeting
3:30 - Medicare savings
8:10 - Walmart keeps its crown
12:00 - Grok is running amok
16:12 - FTC wants no fakes
20:00 - Starbucks Big Bucks
23:30 - Inuit Dome is here
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