Meet the MIT professor who thinks he’s found biotech’s ‘holy grail’

Hello,

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and today in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


MIT Sloan School of Management professor Andrew Lo.
Andrew Lo studied financial models and behaviors for decades, before turning to the drug industry.

More than 90% of drug trials fail every year. A finance expert wants to help pharma predict when it will happen.

Dive in>>


A Sollis member receives care at home from an emergency physician.
Sollis offers in-home visits to its members for an additional cost.

See the 14-slide presentation a members-only concierge emergency-care startup used to raise $30 million in Series A funding

Read on>>


Rep. John Yarmuth, Rep. Carol Miller, Rep. Tom Malinowski and Rep. Marie Newman in front of Pfizer, Johnson&Johnson, and Moderna logos.

As the pandemic raged, at least 75 lawmakers bought and sold stock in companies that make COVID-19 vaccines, treatments, and tests

Check it out>>


More stories we’re reading:


-Leah

Read the original article on Business Insider

Read the FDA report on the death of a woman who was taking a new Alzheimer’s drug, reigniting safety concerns

Hello,

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and today in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


A Biogen employee works in the company's lab
A Biogen employee works in the company’s lab.

A woman died while taking a controversial new Alzheimer’s drug, increasing concerns about its safety. Read the FDA report on what happened.

See the document>>


omnicron swab
A passenger who arrived from Italy administers a self-collected nasal swab.

The most common Omicron symptoms include cough, fatigue, and a runny nose, according to health officials in the US and Europe

Read more>>


a man holds up three fingers, and his filled out CDC vaccine card, after getting a booster shot.
Dr. Richard Schwartz celebrates after receiving his COVID-19 Pfizer vaccine booster on October 6, 2021.

Here’s the data we have so far on the Omicron variant versus our vaccines — what scientists have found, and what remains unanswered

Here’s what we know>>


More stories we’re reading:


-Leah

Read the original article on Business Insider

What the next generation of CEOs need to know today

Welcome back to Insider Weekly! I’m Matt Turner, editor-in-chief of business at Insider.

What does it take to be a good CEO?

For a time, the answer was relatively straightforward. The Milton Friedman school of thought prioritized profit above all. 

But as the years have rolled by, expectations have changed. Theories about how to deliver shareholder value over the long term have evolved. CEOs have woken up to having more stakeholders than just their shareholders, including society, employees, and customers.

Out is cost cutting and offshoring as a default, in is environmental, social and governance metrics, centering a company around common values, and connecting with an increasingly diverse customer base and workforce.

Insider talked to CEOs from Best Buy, Intuit, 1-800-Flowers, Planned Parenthood, and other companies about how the job has changed and what the next generation of leaders will need to prioritize. Read on for a Q&A with the leadership editor Brandon T. Harden for more. 


Also in this week’s newsletter:

Let me know what you think of all our stories at mturner@insider.com


Subscribe to Insider for access to all our investigations and features. New to the newsletter? Sign up here.  Download our app for news on the go — click here for iOS and here for Android.


The CEOs of the future

Collage of CEOs Barbara Humpton, Sasan Goodarzi, and Lindsay McCormick 2x1
From left, Barbara Humpton, Lindsay McCormick, and Sasan Goodarzi.

Brandon T. Harden, Insider’s leadership editor, takes us behind the scenes of our package on the future of corporate leadership.

What led the leadership team to start this project?

We wanted to produce a project that spoke to the next generation of CEOs by outlining skills they’re going to need to master, the next phase of corporate diversity, and some of the key individuals who are shaping corporate opinions. 

What has your team been hearing from CEOs this past year?

We heard CEOs be honest about being held accountable for more than profits. This project builds on that sentiment. We wanted to understand the shift in chief-executive responsibilities.

From our reporting, we’ve found that the three biggest issues for CEOs are the growing climate crisis, diversity and inclusion, and the future of the workplace. Many CEOs we talked to understand the cultural significance of 2020 and 2021, and many are trying to balance keeping their companies afloat while responding to social demands. They want to do the right thing.

What should readers take away from this?

CEOs are human, too; they have personal trials and triumphs like the rest of us. Even CEOs don’t know what to do in certain situations, and often they’re learning in real time. We should hold them accountable for their decisions and keep the pressure on them to move the business world forward. But we should also offer them some grace. I hope that readers get that sense when they’re reading through this project.

Check out the full package here: The future of corporate leadership: How CEOs will navigate the next decade


Inside Better’s week from hell

Vishal Garg Better

Better.com, once heralded as America’s favorite startup, went viral last week after CEO Vishal Garg laid off 900 employees over a three-minute Zoom call. Since then, top execs have resigned, the company doubled severance pay, and Garg apologized and then announced a leave of absence. Former employees gave us an inside look at where it all went wrong.

Here’s what former employees told us. 


Amazon Web Services’ outage could delay packages ahead of the holidays

clerk at amazon prime warehouse
A worker at an Amazon warehouse.

A massive Amazon Web Services outage on Tuesday disrupted the company’s operations — and affected popular sites like Netflix, Tinder, and Zoom with it. Employees told us the outage will likely lead to delivery delays for Amazon packages, just as the holiday season comes to a head. 

More on  the “chaos until Christmas” at Amazon.


Discrimination claims are holding Pimco back from a culture revamp

PIMCO office building in Newport Beach, California with palm trees in front of it on a blue background

The $2.2 trillion bond giant Pimco has endured a laundry list of lawsuits and negative headlines, including claims that the company mistreated women and people of color who work there. 

Insider conducted more than 30 interviews trying to pin down why Pimco is so often in the news for the wrong reasons. 

Read into Pimco’s inner turmoil.


More of this week’s top reads:


Compiled with help from Phil Rosen and Jordan Erb.

Read the original article on Business Insider

Biotech’s top investors, ranked

Hello,

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and today in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


Photos of leaders of top VC biotech firms, including Novo Holdings, Arch, and Flagship Pioneering, behind podiums with DNA strand in background 4x3

Here are the 18 investors set to shape biotech in 2022

Check it out>>


Owen Tripp, CEO of Grand Rounds
Owen Tripp, CEO of Grand Rounds

Exclusive: Grand Rounds, now Included Health, is gearing up for an IPO in early 2022

See the scoop now>> 


Virtue founder Sean Doolan.
Virtue founder Sean Doolan.

Health systems and insurance companies are investing in first-time funds like the newly minted firm Virtue to capitalize on the digital health boom

Dive in>>


More stories we’re reading:


-Leah

Read the original article on Business Insider

10 Things in Politics: Part of the right learns to love Putin

Good morning! Welcome back to 10 Things in Politics. Before we get to the news, a quick announcement: Tomorrow will be our last edition before the newsletter goes on hiatus.

I’ll have more to share Friday (including a new role for me at Insider), but for now please fill out this quick survey to help us improve what we’re doing.


Now, here’s what we’re talking about:


Tucker Carlson
The Fox News host Tucker Carlson on Tuesday.

1. THE BEAR MARKET: Russian President Vladimir Putin’s aggression toward Ukraine has garnered him some new fans. The Fox News host Tucker Carlson defended Putin’s decision to amass troops near the border of the former Soviet republic. Many Republican lawmakers are calling out Putin and urging the White House to dig its heels in, but Carlson’s praise underlines an element of the conservative movement that is happy to find common cause with strongmen.

Here’s some background on the situation:

Carlson defended his views by saying there’s a good chance of a “hot war”: President Joe Biden on Wednesday said the US had no plans to deploy troops. During his show Tuesday night, Carlson also lit into NATO, another frequent Putin target. Ukraine is a partner of the alliance, but it’s not a full-fledged member — an important distinction since an attack on Ukraine would not trigger NATO’s mutual-defense pact.

  • What is on the table: Biden, per reports, told Putin earlier this week that the US would impose a heavy economic cost in response to an invasion. The White House is said to be considering options including sanctions as well as canceling Russia’s Nord Stream 2 pipeline.

Putin wants Ukraine under his thumb: “One way or another, he wants Ukraine neutralized,” Fiona Hill, who served as the top Russia advisor on the National Security Council under the Trump administration, recently told Insider.

  • More details: Putin, who is driven by the image of a renewed Russia, has long been the aggressor in the relationship dating back to Russia’s 2014 annexation of Crimea. Russia has also claimed no involvement in the war in eastern Ukraine that has dragged on since that year, but the West and Ukraine point to evidence that Kremlin has sent troops and weapons.

Read more about why Tucker Carlson’s support of Putin isn’t all that surprising.


2. Senate votes to repeal Biden’s broadest vaccine-or-test mandate: Every Republican and two Democratic senators — Joe Manchin of West Virginia and Jon Tester of Montana — voted to overturn Biden’s mandate for private businesses with more than 100 employees. But the effort is probably doomed, as the measure is unlikely to pass the House and would almost certainly face a presidential veto. In the meantime, a federal appeals court has already halted the policy. More on the growing frustration among some lawmakers to Biden’s mandates.


3. Mark Meadows is suing Nancy Pelosi and the Capitol riot committee: Meadows, President Donald Trump’s final chief of staff, is suing the House select committee investigating the insurrection and the lawmakers serving on it. Meadows’ suit came on the same day lawmakers announced they’d go forward with plans to hold him in contempt following his refusal to cooperate with their subpoenas. Meadows’ suit describes the committee’s subpoenas as “overly broad” and claims a subpoena to Verizon for his phone records violates his First Amendment rights. More on what is now the largest challenge to the House’s investigation into the January 6 insurrection.


4. Biden is expected to call on world leaders to reverse democracy “recession”: Biden is expected to kick off the long-awaited White House Summit for Democracy later today and ask his counterparts to continue to ensure, as one White House representative put it, that “democracies deliver for their people,” the Associated Press reports. Not everyone is happy with the gathering. “The ambassadors to the US from China and Russia wrote a joint essay in the National Interest policy journal describing the Biden administration as exhibiting a ‘Cold-War mentality,'” the AP noted. As The Washington Post points out, there are also numerous questions about which countries were and weren’t invited. Here’s what you need to know ahead of the summit.


5. Judge sets rough trial date for John Durham’s prosecution of a former Clinton campaign lawyer: Michael Sussmann, a onetime lawyer for the Hillary Clinton campaign, will most likely stand trial in late spring 2022 on charges brought by the Trump-era special prosecutor investigating the origins of the Russia investigation, a federal judge said. Sussmann’s indictment and coming trial represent some of the first public signs of activity out of the Durham investigation in months. Here’s what else we’re learning about the case.


An illustration of a house teetering on the last domino about to fall.

6. Better employees reveal turmoil within the once lauded startup: Vishal Garg, the CEO of the digital mortgage company Better, laid off 900 people on Zoom last week. Former employees described the haphazard and sudden way Garg broke the news, saying it was particularly shocking given that recent internal communications had portrayed the business as healthy and growing. Read more about how America’s top startup fell from grace.


FILE - In this Jan. 8, 2021, file photo, California Gov. Gavin Newsom gestures during a news conference in Sacramento, Calif. Californians will start receiving ballots next month asking if Newsom, a Democrat should be recalled and if so, who they want to vote to replace him.
Gov. Gavin Newsom of California.

7. Gov. Gavin Newsom says California will become an abortion “sanctuary” if needed: Newsom told the Associated Press he thought out-of-state patients were likely to flock to California if the Supreme Court were to overturn its landmark Roe v. Wade decision. A majority of Supreme Court justices signaled earlier this month that they would like to change how the nation treats abortion rights, and some conservative justices seem interested in overturning Roe entirely. More on California’s response.


8. Pfizer says its booster offers protection against Omicron: Pfizer and BioNTech said that their coronavirus vaccine appeared effective against the Omicron variant after three doses but that two doses alone produced a much lesser response. More early data on how the shot holds up against the new variant.


9. A person involved with planning Bob Dole’s funeral nixed over January 6 ties: Senate Minority Leader Mitch McConnell complained to Dole’s family about the involvement of Tim Unes, an event planner, whom the Capitol riot committee has subpoenaed for his work in organizing the pro-Trump rally held the day of the insurrection, The New York Times reports. In response, The Elizabeth Dole Foundation cut ties with Unes. Read more from this only-in-Washington type of story.


10. Finland’s prime minister apologizes for clubbing amid COVID-19 scare: Prime Minister Sanna Marin was out clubbing past 3 a.m. last weekend, hours after an advisor she had contact with tested positive for COVID-19, according to local reports. Marin said she had been instructed not to quarantine, but government officials are told they should isolate themselves in such a circumstance. The prime minister, who is vaccinated, later tested negative. More on the story.


Today’s trivia question: Where did Bob Dole live in the 1970s while serving as chairman of the Republican National Committee during Richard Nixon’s presidency? Incredibly, he was out of town when history happened.

  • Yesterday’s answer: The Library of Congress has buildings named after Presidents Thomas Jefferson, John Adams, and James Madison. After the British torched much of Washington during the War of 1812, Congress took Jefferson up on his offer to sell his personal book collection to replenish what was lost in the blaze.
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COVID-19 cases are rising in the US again

Hello,

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and today in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


member of the medical team holds up a used swab from a PCR test at Gatwick Airport on November 27, 2020 in London, England.
A medical team member holds up a used swab.

COVID-19 cases are back on the rise in the US, with more than 100,000 new cases per day

Read more>>


Dr. Anthony Fauci testifies before the Senate Health, Education, Labor, and Pensions Committee, on Capitol Hill in Washington, on July 20, 2021.
Dr. Anthony Fauci testifies before the Senate Health, Education, Labor, and Pensions Committee, on Capitol Hill in Washington, on July 20, 2021.

Fauci says early data on the Omicron variant is ‘encouraging,’ but we don’t yet truly know how deadly it is

Check it out>>


south africa omicron testing
A healthcare worker conducts a COVID-19 test on a traveller at OR Tambo International Airport in Johannesburg, South Africa.

64 of 150 guests tested positive for Omicron after a high school lunch in Denmark, the latest in a string of spreading events

Dive in>>


More stories we’re reading:


-Leah

Read the original article on Business Insider

Most Omicron cases have been mild so far, but experts say we still need more data

Hello,

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and today in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


south africa omicron testing
A healthcare worker conducts a COVID-19 test on a traveller at OR Tambo International Airport in Johannesburg on November 28, 2021,

Most Omicron cases so far have been mild, but experts say it will take weeks to understand how severe the variant can be

Read more>>


COVID recovery
A COVID-19 patient recovers at home in Brooklyn, New York on November 21, 2020.

Having severe COVID-19 doubled the chance of dying within a year in a new study — the risk was even higher for young people

Check it out>>


flu shot elderly
Evelyn Adams receives a flu shot from Maria Bucio, a nurse practitioner, at a CVS pharmacy in Kendall, Florida, on September 2, 2009.

The labor shortage is reportedly creating longer COVID-19 vaccine wait times at CVS and Walgreens

Dive in>>


More stories we’re reading:


-Leah

Read the original article on Business Insider

MLB mystery, revealed: An astrophysicist found the league used two different balls last year

Welcome back to Insider Weekly! I’m Matt Turner, editor-in-chief of business at Insider.

Sometimes something just doesn’t feel right, even if you can’t put your finger on why. For many baseball fans, that’s been true for some time.

Every baseball is slightly different from the next. But in 2021 in particular, it felt as though the baseballs were especially unpredictable. Home runs that should have been weren’t and vice versa.

This week, Bradford William Davis got to the bottom of that mystery. He reported that while Major League Baseball introduced a new ball with a lighter center that it said would travel slightly less far off the bat, as it had pledged to do in February, it also continued to use an older, heavier-center ball. The problem: It apparently didn’t tell fans, clubs, or players. Read on for an interview with Davis and his editor, John Cook.

Also in this week’s newsletter:

Let me know what you think of all our stories at mturner@insider.com.


Subscribe to Insider for access to all our investigations and features. New to the newsletter? Sign up here.  Download our app for news on the go – click here for iOS and here for Android.


Behind the scenes of our MLB investigation

Abbreviated digital thumbnail image of two baseballs on an unbalanced gold scale over a dark blue background

Reporter Bradford William Davis and editor John Cook share the inside scoop on our investigation into MLB’s use of two different balls last season.

What prompted you to look into this?

Bradford: It started with Dr. Meredith Wills, the astrophysicist who supplied her latest study on the ball to Insider. Her work has been so captivating and notable, because practically everyone watching the game knew something has been off about the baseballs for years, especially players. It doesn’t hurt to be generally distrusting of organized sports— it gives me the impetus to thoroughly poke at something when I see it.

What was one of the most surprising findings from the investigation?

John: We had Dr. Wills’ data; we knew she was unimpeachable; we knew it was true. But there is always going to be a lingering concern: What if it’s just noise in the data? What if there is something we think we understand but don’t? It’s not every day that a furtive, opaque institution like MLB basically throws its hands up and says, “OK, you got us.” But given Bradford’s reporting and Dr. Wills’ research, they didn’t have many options.

What should readers take away from this report?

John: MLB has a lot of explaining to do. Do they know which balls went to which parks? Did they distribute them at random? If they told the players’ union about the decision, as they claim, why didn’t any players know about it? How did they think they would be able to make a decision like this without the players and fans finding out?

Read our full investigation here: Major League Baseball secretly used 2 different types of baseballs last season


Ray Dalio says the US is in trouble

2021 01 25T105118Z_1924936237_RC2YEL9EH2SH_RTRMADP_3_USA BIDEN DALIO.JPG
Ray Dalio is one of the most successful hedge fund bosses of all time.

Ray Dalio of Bridgewater Associates, known for successful investing on a global scale, has been studying the rise and fall of empires — and says the US is on the brink of an empire-ending catastrophe.

In an exclusive interview, he told us that investors should stay balanced, consider the effects of inflation, and hold little cash.

Here’s why he’s worried — and how he says you should invest your money.


Leaked video shows Better CEO explaining layoffs

Vishal Garg ceo better
Vishal Garg is the founder and CEO of Better.com.

On Wednesday, shortly after the online-mortgage startup Better laid off hundreds of people, CEO Vishal Garg addressed employees in a livestreamed town-hall meeting. A leaked recording of the meeting was shared with Insider.

In the video, Garg told remaining employees that the company lost $100 million last quarter. He said, “We acknowledge that we overhired and hired the wrong people, and in doing that, we failed.”

More from the leaked video here.


Search every known flight made by Jeffrey Epstein’s private jets

Jeffrey Epstein jet

Between 1995 and his arrest on sex-trafficking charges in 2019, Jeffrey Epstein flew prolifically aboard his fleet of private planes, often in the company of celebrities, statesmen, and girls.

We’ve compiled every known flight taken by the sex offender’s jets — more than 2,500 in total — and published them in a searchable format for the first time. 

Check out the database here.


More of this week’s top reads:


Event invite: Join us on Thursday, December 9 for Transforming Business, presented by Alight, featuring conversations with Business Insider’s 2021 Transformers: leaders, executives, founders, investors, and designers driving innovation and growth. Register here.


Compiled with help from Jordan Erb.

Read the original article on Business Insider

What we do — and don’t — know about the Omicron variant

Hello, 

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and this week in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


healthcare worker in Johannesburg, South Africa gives a traveler a covid test as the omicron variant spreads
A healthcare worker collects a PCR test swab in Johannesburg, South Africa.

What we do — and don’t — know about the Omicron variant

A lot of news came out this week about the new Omicron COVID-19 variant, a strain of the virus with several mutations that are making scientists very nervous.

Drug companies are already preparing for the worst; Andrew Dunn spoke with experts, including Pfizer’s top scientist Mikael Dolsten, about how pharma companies are already responding to this new threat.

Recently, we learned that there have already been several confirmed cases of the Omicron variant in the US — and there could already be up to 2,000 cases, according to an expert that spoke with health correspondent Hilary Brueck. 

We don’t yet know though how Omicron will fare against our current COVID-19 vaccines and treatments, but scientists are racing to find out

And speaking of COVID treatments: this week, an FDA panel narrowly recommended the first pill to treat COVID-19.

Read more now>>

Omicron has drug companies preparing for the worst. Here are their plans to counterattack the newest COVID-19 variant.


A doctor and patient at a ChenMed clinic
A doctor and patient at one of ChenMed’s clinics

Major hospital systems talk about the future of patient care

Mohana Ravindranath spent time talking to the leaders of 8 of the largest healthcare systems across the country. She asked them all about the future of health — and also about what technologies are currently overhyped. 

She learned:

See the whole story>>

8 tech projects taking off at billion-dollar health systems


medical medication medicine pharmacy pharmaceutical drugs pills vitamins cox prescription FDA over the counter OTC

How pharmacy middlemen are driving up profits

Drug-industry middlemen have reorganized the drug supply chain, Shelby Livingston reports.

Several of these companies are joining forces to get better deals from drugmakers — but they are also driving up costs for patients.

It creates a convoluted system full of secrets, money and medicine. 

Dive in>>

Powerful drug-industry middlemen have quietly launched businesses to get better deals from drugmakers. It could drive up costs for patients.


More stories that kept us busy this week: 


-Leah

Read the original article on Business Insider

How retail giants like Walmart and Dollar Tree are taking on the $4 trillion healthcare industry

Hello,

Welcome to Insider Healthcare. I’m healthcare editor Leah Rosenbaum, and today in healthcare news:

If you’re new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let’s get to it…


Walmart Health
A Walmart Health clinic with counseling, labs, optometry, primary care, dental, and hearing services.

Big retail companies like CVS, Walgreens, and Walmart are doubling down on their healthcare strategies. Here’s how they’re planning to compete in the $4 trillion industry.

Check it out>>


atlanta airport
Passengers gather near Delta airline’s counter as they check-in their luggage at Hartsfield-Jackson Atlanta International Airport, in Atlanta, Georgia, U.S., May 23, 2021.

The Omicron variant has landed in the US: California just reported its first case

Read more>>


female doctor talking to man

These are the 5 essential tools that hospitals are using to transform patient care right now

Dive in>>


More stories we’re reading:


-Leah

Read the original article on Business Insider