The Fundamental Reality Of 'Business Today'
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2017-06-23 10:40 by Karl Denninger
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The Fundamental Reality Of 'Business Today'
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Here's the real nutshell issue with so-called "business today":

Now, Uber has for the first time has acknowledged that Levandowski informed its now-departed CEO, Travis Kalanick, that he had five disks filled with Google's information five months before joining Uber. 

In other words the company recruited and hired this guy knowing he had stolen trade secret information from Google.

If you think this sort of event is isolated, it's not.

Witness nearly one in four Medicaid recipients being prescribed opiods in the last 12 months.  I remind you that a large percentage of Medicaid recipients are kids so the percentage of opiod abuse among adults funded through Medicaid is probably within spitting distance of half of all adult recipients.  Do you really think the pharma companies and doctors don't know this?  Of course they do, but they worked mightily to conceal it because they also know damn well that their lives will be upended if it comes to light.  Then the truth eventually does come out and what is the reaction?  A few lawsuits aimed at some pharmaceutical companies instead of indictments for drug pushing, 20,000 dead people a year be damned.

How about the market generally?  "Technology" will lead?  Is it "technology" or scams?

The biggest scam of all is found in medicine where somewhere around $3 trillion a year is spent in the United States and 80% of that is either stolen or wasted.

The largest act of theft on a daily, continual basis ever in history and yet not one indictment pops out of that conduct.

In fact our own Congress wants to pass laws to make the scam greater rather than lesser, utterly ignoring 100+ year old law that says that the entirety of these schemes are illegal -- and not just civilly illegal either, felony criminally illegal.

We have a sitting Senator, Rand Paul, who has propounded that medical providers should be explicitly exempt from said lawwhich is a blatant and outrageous admission that today they are not and should all be in prison!  Never mind that there is not one but two Supreme Court decisions which confirmed that medical-related firms are not exempt from anti-trust law.  This is what Rand wants and has expressed in his legislative blueprint:

Provides an exemption from Federal antitrust laws for health care professionals engaged in negotiations with a health plan regarding the terms of a contract under which the professionals provide health care items or services.

Of course being a doctor he ought to know, right?  Or perhaps he can simply read the US Supreme Court cases dating to the early 1980s and knows that all existing physicians and medical practices, including hospital administrators, should be rotting in prison right now and would be but for our government's 30+ year long intentional refusal to enforce said 100+ year old law?

How about Amazon?  Robinson-Patman makes illegal price discrimination in goods where the effect is to exert market power to lessen competition.  Do you really believe all that so-called "artificial intelligence" doesn't result in different prices for different people buying the exact same item in the exact same quantity?  This is outrageously illegal if you have market power -- and Amazon, in the online space, most-certainly does.  The record with regard to brick and mortar retailers is clear in this regard.

How much of so-called "innovation" today is in fact simply a means of finding a way to break a law that you are quite confident the government will not enforce?  That companies once in a while get the "oh they won't enforce the law" part wrong (e.g. Volkswagen) doesn't change the general tone one bit, especially when you manage to steal trillions annually in one industry (health care) alone!

And why, may I ask, do we the people put up with the lack of enforcement when your much less-serious lawbreaking, such as speeding, results in an immediate citation, insurance surcharges and similar -- without apology or forgiveness?

Where is the outrage aimed at these jackals, both within and beyond the beltway?

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Tarmoney
Posts: 453
Incept: 2008-01-23
A True American Patriot!
LI, NY
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The Rand Paul link gives a 404 error. That was fast!

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"Then have a recession. It's a financial enema for a sick animal." - Rick Santelli
I really can't wait to see all these guys twist on the rope... -me
smiley
smiley
Tickerguy
Posts: 149209
Incept: 2007-06-26
A True American Patriot!
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Fixed it -- it's still there.

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Winding it down.
Hstella
Posts: 701
Incept: 2009-08-18

Colorado
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We've thought about the logistics of a start-up, but as much as we'd like to start something amazing and grow it over time, this kind of industrial espionage is something that kills (quietly, so you never hear about it) every company that is not as big as Google (and able to aggressively fight for the IP) that gets hit by it.
Tickerguy
Posts: 149209
Incept: 2007-06-26
A True American Patriot!
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Exactly.

I have two products that are basically in "edit the user manual, do packaging and they're ready" states. One of them is PROBABLY Patentable (and I may file on it just for grins and giggles.)

Set up to sell either? No, but I'll sell them wholesale to someone who is not particularly concerned about being robbed (or thinks they can beat the robbers.)

And yeah, this sort of espionage kills anyone who gets hit by it, most of the time -- and nobody goes to prison for it.

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Winding it down.
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