The danger of VC-backed insurance
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 15 September 2023
⏱️ 7 minutes
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Summary
A new trend in health-tech start-ups is to offer low premiums for insurance coverage and burn through billions of venture capital to stay in the green. When they crash, these firms leave customers without a way to access care or medication. Do regulators need to crack down? Plus, some public universities up their tuition and the UAW goes on strike.
Transcript
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| 0:00.0 | Union car and truck workers walk off the job at three plants, as contract negotiations |
| 0:07.0 | continue. |
| 0:09.0 | I'm David Brancaccio. |
| 0:10.0 | Members of the United Auto Workers' Union started a limited strike last night against |
| 0:14.5 | GM, Ford and Stellantis. |
| 0:16.5 | It's the first time unionized auto workers have walked off the job at all three companies |
| 0:21.1 | at once, reflecting the high stakes automakers say they're on a fight for survival, as the |
| 0:26.0 | industry electrifies workers want to reverse wage and benefit concessions, at a time the |
| 0:31.1 | labor market is strong, marketplaces know of a suffer reports. |
| 0:35.0 | Less than 10% of UAW members walked off the job last night, but union president Sean |
| 0:39.9 | Fein said the strike could spread. |
| 0:42.5 | This is our generation's defining moment. |
| 0:45.2 | The money is there, the cause is righteous, the world is watching, and the UAW is ready |
| 0:52.7 | to stand up. |
| 0:54.0 | The union wants pay increases of 36% over four years, and it wants to reverse concessions |
| 0:59.3 | over pensions and pay made during the Great Recession. |
| 1:02.8 | In the first half of this year, the Detroit 3 made a combined $21 billion in profits, |
| 1:08.4 | but auto makers say the workers' demands are unaffordable because they must invest in |
| 1:12.7 | electrification. |
| 1:13.7 | Here's GM CEO Mary Barra in a company video. |
| 1:17.4 | If we don't continue to invest, we will lose ground, and it will happen fast. |
| 1:22.5 | Our competition across the country and around the world, most of whom are non-union, will |
... |
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