Health Care Consolidation, Starbucks Wages, & Apple’s Car, Parked 02/28/24

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 28 February 2024

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Apple is winding down its electric car strategy after 10 years of quiet work. Apple is also reportedly making a last effort to avert an antitrust probe. UnitedHealth, owner of the largest insurer in the U.S., is facing an antitrust probe of its own. Former FDA Commissioner Dr. Scott Gottlieb argues that consolidation in the industry is partly a consequence of hospitals and physicians losing money on Medicare. Starbucks and Workers United are making progress. Unionized Starbucks employees will now receive the wage hikes their nonunion colleagues received in 2022. Plus, AI is coming for every industry and every workplace. Former head of HR for Goldman Sachs Edith Cooper discusses the risks of new technology and the value that human workers still offer. Dr. Scott Gottlieb - 16:48 Edith Cooper - 25:14 In this episode: Scott Gottlieb, @ScottGottliebMD Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Melissa Lee, @MelissaLeeCNBC Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C, NBC producer Katie Kramer,
0:07.0	today on Squawk Pod.
0:09.0	Apple, driving away from an eye car.
0:12.0	It's a big step to go for making smart phones to make an eye car.
0:12.6	It's a big step to go for making smartphones to make a car.
0:14.8	Plus it wasn't going to fly, was it?
0:16.6	And it wasn't going to be autonomous.
0:18.4	The big tech's big shift from EVs to artificial intelligence.
0:22.2	Apple has been left behind, left out of the AI party, almost entirely.
0:27.4	United Health, owner of the largest U.S. health insurer facing an antitrust probe.
0:32.4	Dr. Scott Gottlieb explains, hell we got here. Health Insure facing an antitrust probe.
0:32.5	Dr Scott Gottlieb explains how we got here.
0:35.3	Doctors lose money and hospitals lose money
0:37.6	on their Medicare lines of business.
0:39.2	And so what they've done in response to that
0:41.1	is they've consolidated.
0:42.1	They've sold their practices to hospitals
0:44.2	and to insurance companies.
0:46.6	Plus, AIs in the workplace. But former Goldman Sachs head of HR, Edith Cooper, argues machines don't have everything.
0:54.0	Judgment and instincts are going to be of higher value.
0:57.0	It's Wednesday, February 28th, Squawk Pod begins right now.
	...

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