Vic and Marcus cover Jerome Powell remaining on the Federal Reserve board and concerns around Fed independence, global instability including the UAE exiting OPEC and weakening international institutions, and hyperscaler dominance with strong earnings from Google, Amazon, and Microsoft driven by AI and cloud growth; they discuss venture funding trends including brain-computer interfaces and clinical AI models, FDA adoption of AI to accelerate clinical trials, and policy shifts including the withdrawal of Casey Means’ nomination and Cigna exiting ACA markets; the episode also explores payer performance, Humana’s partnership with Mark Cuban’s Cost Plus Drugs, pharma consolidation led by Eli Lilly, and rising acquisition costs in biotech; they examine societal impacts of reduced human interaction due to technology, crypto instability and DeFi bailouts, and major AI developments including OpenAI’s slowing growth, legal challenges, China blocking Meta’s acquisition of Manus, and the accelerating gap between AI systems and human expertise in medicine

Links

Story 1: Fed Meeting

3:04 - Powell to Remain on Fed Board, Citing Legal Pressure From Trump WSJ

Story 2: OPEC 

5:45 - U.A.E.’s OPEC Exit Deals Major Blow to Cartel Amid Middle East Oil Squeeze WSJ

Story 3: Cloud providers 

9:35 - Google Profit Jumps 81% as Cloud Business Booms WSJ

12:49 - Amazon Posts Double-Digit Growth Anchored by Booming Web Services WSJ

13:15 - Microsoft Reports Strong Cloud Growth, but Questions About AI Returns Persist WSJ

Story 4:  VC 

15:54 - Axoft Raises $55M Series A to Advance Brain-Computer Interface Technology CityBiz

18:11 - Photon: $16 Million Raised To Modernize Prescription Infrastructure And Return Transparency To Patients Pulse 2.0

19:22 - Aidoc banks $150M backed by Goldman Sachs to scale clinical AI foundation model Fierce Healthcare

Story 5:  FDA Looking to RWD 

24:30 - FDA Turns to AI to Speed Up Clinical Trials WSJ

Story 6:  Surgeon General 

26:23 - Trump Withdraws Nomination of Casey Means for Surgeon General NYT

Story 7:  Payors

29:54 - Cigna to exit ACA market, pursue strategic alternatives for eviCore unit Fierce Healthcare

31:01 - Centene swings to $1.5B profit as Medicaid business improves even as ACA membership falls by 2 million Fierce Healthcare

34:24 - Humana teams with Mark Cuban's Cost-Plus Drug Company Healthcare Finance

Story 8:  UHS

36:13 - Universal Health Services' Q1 2026 earnings growth dampened by volume hits Fierce Healthcare

Story 9:  Pharma

37:36 - Eli Lilly to Buy Ajax Therapeutics for Up to $2.3 Billion WSJ

39:06 - Sun Pharma to Buy U.S. Healthcare Firm Organon in $11.75 Billion Deal WSJ

40:47 - There’s a Revolution in Cancer. But Can Big Pharma Afford It? WSJ

Story 10:  

43:20 - We’re All Talking to Each Other Less Than We Did a Decade Ago WSJ

Story 11:  Robinhood

50:00 - Robinhood Profit Rises on Boost From Prediction Markets, Gold Subscriptions WSJ

Story 12:  Aave

51:48 - Crypto Rushes to Bail Out Decentralized Lender Targeted by Hackers WSJ

Story 13:  AI Diagnosing Patients

56:23 - In real-world test, an AI model did better than ER doctors at diagnosing patients NPR

N/A - Performance of a large language model on the reasoning tasks of a physician Science

Story 14:  OpenAI

58: 11 -OpenAI Misses Key Revenue, User Targets in High-Stakes Sprint Toward IPO WSJ

1:00:20 - OpenAI Sued by Seven Families Over Mass Shooting Suspect’s ChatGPT Use WSJ

1:01:35 - Elon Musk Testifies He Was a ‘Fool’ to Fund OpenAI WSJ

Story 15:  China

1:02:41 - China Bans Meta’s Acquisition of Manus on National Security Grounds WSJ

1:03:53 -

Vic and Marcus recap insights from the Health Evolution Summit, focusing on high-value networking versus weak conference content, then break down major economic and policy developments including Kevin Warsh’s expected appointment as Fed Chair, the end of the investigation into Jerome Powell, and shifts in Fed governance. They cover venture activity across AI healthcare, biotech resurgence, and crowded revenue cycle startups, alongside new accelerators backed by Anne Wojcicki. Policy wins include FDA gene therapy breakthroughs, marijuana reclassification, and faster CMS coverage pathways. The episode dives into payer performance with improved MLR trends, ongoing health system struggles, and biotech deal momentum led by Eli Lilly. They explore AI’s growing role in healthcare, including dementia care and OpenAI launching clinical tools, while also unpacking infrastructure pressures from data center demand, chip innovation, and inference growth. The episode closes with geopolitical tensions in AI, highlighting Nvidia vs China debates, the rise of DeepSeek, and rapid advancements in robotics performance. 

Links

Story 1: Kevin Warsh - Fed

5:12 -  Warsh Pledges Independence at Fed Hearing WSJ

6:11 - DOJ drops investigation into Fed’s Powell Roll Call

Story 2:  VC 

8:36 - Amperos Health secures $16M in series A funding, unveils AI-native denial management solution Fierce Healthcare

9:37 - Tortugas comes out of its shell with $106M to fund 4 phase 2-stage neuro drugs licensed from Asia Fierce Healthcare

11:59 - Courier Health scores $50M to scale CRM technology Mobi Heath

12:53 - Ethermed: $8.5 Million Series A Brings Total Funding To $15 Million+ To Scale AI Prior Authorization Platform Pulse 2.0 

13:19 - Esther and Anne Wojcicki back new healthcare accelerator, fund TechCrunch

Story 3:  1st Gene Therapy

14:54 - FDA Approves First-Ever Gene Therapy to Restore Hearing WSJ

Story 4:  Marijuana reclassified

16:51 - Trump Administration Reclassifies Marijuana as Less Dangerous Drug WSJ

Story 5:  RAPID

18:44 - CMS and FDA announce RAPID Medicare coverage for breakthrough medical devices Healthcae Finance

Story 6: Payor Financial Reports

20:43 - UnitedHealth Shows Signs of Turnaround With Strong Quarterly Results WSJ

21:58 - Molina controls costs in Q1 but future Medicaid spending in doubt Healthcare Dive 

22:33 - Elevance perks up in 2026 though Medicare Advantage payout could ding profits Healthcare Dive

Story 7: CHS Reports Loss

23:11 - Flagging first-quarter volumes dragged CHS’ earnings Healthcare Dive

Story 8: Pharma Rundown

23:58 - Boston Scientific Net Grows Sharply WSJ

24:56 - Two Drugs Stir Hope for Treatment of Deadly Pancreatic Cancer NYT

25:41 - After Lilly’s $7B Kelonia deal, are there any in vivo CAR-T biotechs left to buy? Fierce Healthcare

Story 9: Pharma Rundown

26:58 - New York Sues Coinbase, Gemini Over Crypto Exchanges’ Prediction Markets WSJ

Story 10: AI for Dementia

32:03 - For Dementia Patients, AI Can Be a Good, Non-Judgmental Listener WSJ

Story 11: OpenAI

33:44 - OpenAI launches ChatGPT for Clinicians, a free AI tool for physicians, NPs and pharmacists Fierce Healthcare

37:03 - OpenAI's GPT-5.5 is here, and it's no potato: narrowly beats Anthropic's Claude Mythos Preview on Terminal-Bench 2.0 Venture Beat

Story 12: Datacenters and Infrence

39:17 - Oracle’s Deluge of AI Debt Pushes Wall Street to the Limit WSJ

43:38 - Intel Shares Jump 20% as AI Agents Drive Big Growth WSJ

44:22 - Google Introduces Specialized Chip for New Wave of AI Computing WSJ

47:06 - Dwarkesh Podcast w/ Jensen - YouTube

51:54 - Deepseek on X - X

Story 13: Robot Marathon

56:05 - Chinese Robot Beats Human Best Time in Half-Marathon, After a Stumble WSJ

Vic and Marcus break down a surge in AI development, starting with Vic’s hands-on experience building autonomous agents and what it reveals about the future of work, productivity, and identity. They discuss the growing gap between economic growth and job creation, the psychological impact of AI on workers, and parallels to past industry disruptions. The episode covers venture activity in healthcare, including AI-native operating systems, fertility innovation, and value-based care startups, alongside policy updates like digital health reimbursement models and system-wide labor tensions. They examine the expanding role of GLP-1 drugs beyond weight loss, major pharma momentum, and the increasing convergence of AI and healthcare. The conversation shifts to infrastructure challenges with data centers, global competition, and regulatory friction, before diving into rapid AI advancements across OpenAI, Anthropic, Google, and robotics, ending with a broader reflection on purpose, identity, and adapting in an accelerating world.

Links

Story 1: Economic Rundown

12:32 -The Economy Is Growing, Jobs Aren’t. Why That Might Be OK. WSJ

18:50 - Process to Refund Tariffs to Begin Next Week WSJ

19:22 - U.S. Economy Remains Resilient in Face of Iran War, Banks Say WSJ

Story 2:  VC 

20:06 - Keebler Health secures $16M in series A funding for AI-powered risk adjustment platform Fierce Healthcare

20:36 - AI-Enabled Fertility Care and Longevity Provider ONTO Health Closes $20 Million Series funded by ARTIS and Humania Yahoo

N/A - Helical raises $10M seed for virtual pharma AI lab Axios

21:05 - Ultralight Raises $9.3M Seed Round SaaS News

22:32 - Joyful Health Raises $17M in Series A Funding for FinTech FinSms 

Story 3:  FDA Peptides

23:01 - FDA moves toward easing restrictions on certain peptides Healthcare Dive

Story 4:  ACCESS

23:56 - CMS accepts more than 150 providers, digital health firms for ACCESS model Healthcare Dive

Story 5:  BSW Exits ACA & Medicaid

25:38 - Baylor Scott & White Health Plan to depart individual market, Medicaid this year Fierce Healthcare

Story 6:  Walmart Better Care

27:59 - Walmart expands digital health platform’s weight loss offerings, including GLP-1 prescribing Healthcare Dive

Story 7:  UC Health Strike

28:19 - UC Health workers plan open-ended, system-wide strike for May 14 Fierce Healthcare

Story 8:  J & J

30:28 - J&J’s First-Quarter Sales Grow on Cancer-Drug Strength WSJ

Story 9:  Lilly Acq

31:32 - Lilly makes preclinical ADC specialist CrossBridge its latest acquisition in vague $300M deal Fierce Healthcare 

Story 10:  ?

32:34 - (The New York Times) Online and in Doctors Offices. People are Finding that GLP-1s

Story 11: Web 3

35:28 - Elon Musk’s X Money Stands to Disrupt Payments and Pressure PayPal

38:18 - Charles Schwab Begins Rollout of Spot Bitcoin, Ethereal trading Platform

Story 12: Anthropic

39:38 - Anthropic Adds Novartis CEO to Board WSJ

40:42 - Anthropic Releases Claude Opus 4.7 to Remind Everyone How Great Mythos Is Gizmodo

Story 13: Open AI 

43:14 - OpenAI unveils GPT‑5.4‑Cyber, an AI model for defensive cybersecurity 9to5Mac

43:40 - OpenAI’s big Codex update is a direct shot at Anthropic’s Claude Code The Verge
OpenAI unveils GPT‑5.4‑Cyber, an AI model for defensive cybersecurity - 9to5MacVerge

Story: 14  Data Center Fights

45:29 - Elon Musk’s xAI Sued by NAACP Over Memphis Data Center WSJ

47:49 - Maine Lawmakers Pass Ban on Large Data Centers WSJ

48:38 - AI Is Using So Much Energy That Computing Firepower Is Running Out WSJ

Story 15:  Gemini 

51:02 -Google launches a Gemini AI app on Mac The Verge

51:59 - DeepMind launches Gemini Robotics-ER 1.6 to meet precise physical AI demands SilconAngle

Vic and Marcus break down revised GDP data and slowing economic growth, rising concerns around private credit exposure across banks and pensions, and the long-term decline in labor force participation driven by aging demographics and immigration policy. They discuss the evolving job market as AI creates new roles and skill demands, while also examining venture activity including Yuzu Health’s funding and broader digital health investment trends. The episode covers major healthcare policy shifts like Medicare Advantage rate changes, California’s stance on private equity in medical practices, and health system performance driven by scale. They also explore breakthroughs in osteoarthritis treatments, ongoing challenges with nurse burnout and workforce retention, and increasing cybersecurity risks in healthcare platforms. The conversation expands into pharma developments, GLP-1 market expansion, and direct-to-consumer healthcare models. Finally, they dive deep into AI’s accelerating impact, including data center pushback, emerging policy frameworks, quantum security risks, and the implications of next-generation AI models capable of exposing widespread system vulnerabilities.

Links

Story 1: Economic Rundown

1:07 - US economy grew a sluggish 0.5% in fourth quarter, government says, downgrading previous estimate AP

1:47 - Insurers’ $1 Trillion Buildup in Private Credit Is Leaving Regulators in the Dust WSJ

4:04 - Why More People Are Dropping Out of the Job Market WSJ

6:20 - The New Jobs Being Created by AI WSJ

Story 2: Q1 VC Growth & AI firms enter Health

8:27 - Yuzu Health Raises $35M in Series A Funding FINSMES

9:46 - Q1 2026 funding overview: Capital continues concentrating and four other market signals Rock Health

12:02 - Anthropic acquires stealth AI startup Coefficient Bio in $400M deal: reports Fierce Healthcare

Story 3: CA Limiting PE in Healthcare

13:18 - California AG Urges Walling Off Medical Practices From Private Equity Rob Bonta stakes out a strict position on private equity’s roe in healthcare WSJ

Story 4: HHS moves

19:05 - CMS finalizes higher Medicare Advantage rates for 2027 in gift to insurers Healthcare Dive

20:57 - Federal Agency Unveils Three Potential Osteoarthritis Treatments NYT

Story 5: Advocate Improved Financials

22:45 -  Advocate Health improves to 4% operating margin, $4.6B bottom line across 2025 Fierce Healthcare

Story 6: Nurse Job Satisfaction

24:55 - Nurses' job satisfaction stumbles after post-pandemic gains: survey Fierce Healthcare

Story 7: Hims Cyber Attack

27:35 - Hims & Hers says limited data stolen in social engineering attack Healthcare Dive

Story 8 - 2 Acquisitions

29:20 - Gilead to buy cancer biotech Tubulis for more than $3 billion Stat

29:56 - Neurocrine to Buy Soleno, Nabbing Drug for Relentless Hunger Disorder WSJ

Story 9 - GLP-1 wars

30:54 - Novo Nordisk Launches Higher-Dose Wegovy Weight-Loss Shot in U.S. WSJ

31:23 - Eli Lilly launches oral GLP-1 drug across US through Lilly Direct, telehealth providers Fierce Healthcare 

Story 10 - Using AI for Health Data Analysis

32:11 - I Uploaded My Blood Work to AI. Am I Oversharing? WSJ

Story 11 - Q-Day Getting Close

35:11 - Cloudflare targets 2029 for full post-quantum security Cloudflare

Story 12-OpenAI Advising World Governments while States Resist Data Centers 

38:09 - Industrial Policy for the Intelligence Age: Ideas to Keep People First OpenAI

41:48 - These Cities and States Are Taking Aim at Data Centers WSJ

Story 13 - Anthropic Glasswing & Mythos

45:00 - Anthropic Set to Preview Powerful ‘Mythos’ Model to Ward Off AI Cyberthreats WSJ

49:43 - Anthropic Teams Up With Its Rivals to Keep AI From Hacking Everything Wired

Vic and Marcus recap the Jumpstart Health Summit, including a workshop where non-technical founders built full AI-driven products and an agentic investment bank in under 48 hours, followed by key discussions from the summit on healthcare transformation, AI infrastructure, venture capital evolution, and leadership changes at Jumpstart Health. They break down major economic signals including declining job openings, stock market performance, and rising risks in private credit markets, then analyze healthcare policy shifts targeting hospital pricing practices and UnitedHealthcare’s push into AI-driven member tools. The episode also covers major pharma momentum led by Eli Lilly across acquisitions, GLP-1 advancements, and AI-powered drug discovery, alongside emerging trends in crypto-backed mortgages, agentic commerce, and Coinbase’s expanding role in financial infrastructure. They close with a deep dive into AI disruption, highlighting a two-person billion-dollar company, open-source model acceleration, security risks, and breakthroughs that could reshape hardware demand and the future of work.

Links

Story 1 Jobs and Equity market

11:37 - U.S. Job Openings and Hiring Fell in February WSJ

18:10 - Here’s What Worked During a Rough Quarter for Markets WSJ

Story 2 Private credit watch

19:17 - What Banks Stand to Lose From the Private-Credit Mess WSJ

Story 3 VC rundown

23:14 - WHOOP Secures $575M, Reaches $10B Valuation MedCity

Story 4  DOJ v NY Pres

25:21 - Justice Department Files Antitrust Lawsuit Against NewYork-Presbyterian WSJ

Story 6 UHG launches AI Companion

30:12 - UnitedHealthcare launches Avery, a generative AI companion for members Fierce Healthcare

Story 7 1st Reimbursement for Robot Companion

32:22 - Intuition Robotics secures Medicaid coverage for social AI robot ElliQ in Washington State Fierce Healthcare

Story 8 Eli Lilly moves

37:21 - Eli Lilly to Buy Centessa Pharmaceuticals for Initial $6.3 Billion WSJ

37:55 - Eli Lilly Gets Speedy FDA Nod for Oral GLP-1 Drug, a Competitor to New Novo Nordisk Pill MedCity

38:52 - Eli Lilly reaches $2.75 billion deal with Insilico to bring AI-developed drugs to the global market CNBC

Story 9 Web3 rundown

39:54 - Fannie Mae to Accept Crypto-Backed Mortgages for the First Time WSJ

41:54 - Coinbase’s AI payments system joins Linux Foundation, gathers support from Google, Stripe, AWS and others Coindesk

45:57 - Coinbase clears key regulatory hurdle in bid to bolster its stablecoin business CNBC 

Story 10 1st $B - 2 person AI startup is healthcare

47:24 - How A.I. Helped One Man (and His Brother) Build a $1.8 Billion Company NYT

Story 11 Antropic

50:27 - Anthropic Races to Contain Leak of Code Behind Claude AI Agent WSJ

51:19 - Claw Code Launches Open-Source AI Coding Agent Framework With 72,000 GitHub Stars in First Days 24-7

Story 12 Google

54:00 - Google announces Gemma 4 open AI models, switches to Apache 2.0 license ArsTechnica

56:30 - Google now lets you direct avatars through prompts in its Vids app TechCrunch

57:00 - Google’s TurboQuant Breakthrough Just Rewrote the AI Playbook Yahoo 

Vic and Marcus discuss rising energy costs and their ripple effects across the economy, declining tourism, and ongoing financial pressure tied to global instability. They break down major healthcare funding deals including telehealth weight loss platforms and AI governance in health systems, along with payer struggles and pharmaceutical acquisitions. The episode explores legal shifts around social media liability and Section 230, contrasting platform responsibility with internet infrastructure. They cover policy updates in Medicaid and rural hospital funding, trends in tokenized financial markets, and AI developments across healthcare, enterprise, and consumer platforms. The conversation closes with a deep dive into the evolution of AI agents, digital workers, and the shift toward autonomous systems that could redefine how individuals and companies operate. 

Links

Story 1 - Energy prices

2:34 - How Americans Are Navigating Higher Energy Costs on Every Front WSJ

Story 2 - VC Rundown

5:42 - GLP-1 unicorn raises $200 million from Tom Brady, others Axios

7:48 - Qualified Health locks in $125M in fresh funding to scale enterprise AI at health systems Fierce Healthcare

Story 3 - Section 230 Challenged

9:16 - Meta and YouTube Lose Landmark Social-Media Addiction Trial WSJ

16:24 - Supreme Court Limits Liability for Internet Service Providers WSJ

Story 4 - Peds Wrap-around payment model

Story 5 - Cash available for Rural Health systems

23:27 -  Rural hospitals could apply for temporary interest-free construction, renovation loans under new bipartisan bill Fierce Healthcare

Story 6 - Higmark results

24:45 - Highmark reports $175M net loss for 2025 as financial headwinds batter health plan Fierce Healthcare

Story 7 - 2 Pharma Deals

25:10 - Merck Reaches Nearly $6 Billion Deal for Cancer Biotech Terns WSJ

26:03 - Gilead Sciences gains opportunity for immune system reset with $1.7B Ouro acquisition MedCity  

Story 8 - Dance therapy

27:33 - Tango Therapy: How the Dance of Passion Is Helping Parkinson's Patients NYT

Story 9 - Tokenized Stocksl

29:04 - NYSE Partners With Securitize to Develop 24/7 Tokenized Securities Platform WSJ

Story 10 - OpenEvidence expands product offereing

29:53 - OpenEvidence rolls out AI medical coding feature Fierce Healthcare

Story 11 - Optum using AI to reduce Fraud

32:05 - A look at how Optum Rx is using AI to address pharmacy fraud, waste and abuse Fierce Healthcare

Story 12 - OpenAI moving to enterprise

33:56 - OpenAI Scraps Sora Video Platform Months After Launch WSJ

35:23 - OpenAI abandons yet another side quest: ChatGPT’s erotic mode TechCrunch

37:46 - OpenAI sweetens private equity pitch amid enterprise turf war with Anthropic, sources say Reuters

Story 13 - Google’s Gemini coming to Siri

41:59 - New details on Apple-Google AI deal revealed, including Gemini changes: 9to5 mac

Story 14 - Google releases Figma Competitor

44:52 - I 'Vibe Designed' a Website in Minutes Using Google Labs' Stitch Tool CNet

Vic and Emily Evans discuss the Fed holding rates and the declining influence of monetary policy, Turquoise Health’s $40M raise and the shift toward payment infrastructure, and the broader slowdown in healthcare spending growth. They explore consumer-driven healthcare models, political tensions around insurance and affordability, and upcoming policy shifts. The episode also covers vaccine policy changes, cancer immunotherapy efforts, CMS’s new wearable-driven care model, the rise of ketamine prescriptions, crypto regulation clarity, tokenized markets, AI’s expanding role in healthcare and business, and the growing challenge of trust in an era of synthetic media.

Links

Story # 1 Fed Meeting

00:59 - Fed Holds Rates Steady as Iran War Clouds Outlook WSJ

Story # 2: Price transparency deals 

6:05 - Turquoise Health raises $40M to power healthcare contracts, payments Fierce Healthcare

Story # 3 Payers still in Crosshairs

19:56 - Democratic senators detail plans to take on 'Big Insurance' Fierce Healthcare

Story # 4 Vaccine Drama

27:18 - Federal court blocks RFK Jr.’s moves to upend US vaccine policy, Healthcare Dive

27:29 - Health Groups Hailed a Vaccine Ruling, but Their Relief May Be Short-Lived NYT

29:34 - HHS Has a Potential Solution for Cancers That Keep Coming Back: Vaccines WSJ

Story # 5 ACCESS program

31:24 - Discussion of the ACCESS program CMS website

Story # 6 Sutter’s expansion

37:01 - Sutter, Allina Health to form $26B nonprofit system 

Story # 7 Ketamine risks

38:56 - She Hoped Ketamine Would Rewire Her Brain. She Didn’t Live to See It Work. WSJ

Story # 8 Tokenizing Equities

42:24 - SEC and CFTC unveil new crypto guidance declaring most digital assets are not securities The Block

46:26 -  

Story # 9 Maven Intelligence

49:39 - Maven Clinic expands AI capabilities with genAI agent built on OpenAI, Google LLMs Fierce Healthcare

Story # 10 MS v. OpenAI

52:53 - Microsoft Looking To Sue OpenAI Over New Amazon Deal: Here's Why Free Press

Story # 11 1st AI Actor

1:02:45 - Val Kilmer Resurrected by AI to Star in ‘As Deep as the Grave’ Movie Variety

Vic and Marcus discuss the latest macro forces shaping healthcare and technology, starting with inflation trends, rising oil prices, and how geopolitical tensions involving Iran could impact global markets and supply chains. They examine how healthcare has become the primary driver of U.S. job growth while questioning whether the industry can sustain the broader labor market long term. The conversation covers venture funding activity including AI healthcare startups, maternal health investments, and the growing debate over massive venture rounds in the AI era. They also analyze major industry developments such as CVS and Aetna resolving Medicare Advantage investigations, the acquisition of Talkspace by UHS to expand behavioral health services, and Novo Nordisk’s ongoing struggles in the GLP-1 market. The episode closes with a wide-ranging discussion on tokenized financial markets, the rapid expansion of AI infrastructure, big tech’s increasing control over healthcare through platforms like Microsoft, Google, and Amazon, and how AI may become the new front door to healthcare access.

Story # 1 CPI, War & Healthcare jobs

1:50 - Inflation Holds Steady, but Iran War Threatens to Boost Prices WSJ

4:33 - Escalating Hormuz Crisis Raises Specter of Prolonged Closure WSJ

6:05 - Health Care Has Become the Lifeblood of the Labor Market NYT

Story # 2 VC deals

10:17 - New Medicaid-focused doula provider Malama launches with $9.2M Fierce Healthcare

12:17 - Amigo AI Raises $11M to Close the Gap Between Healthcare Demand and Clinical Capacity AlleyWatch

12:59 - Nitra Rakes In $187M to Simplify the Business of Running a Healthcare Practice MedCity

Story # 3 Changes (again) at FDA

21:07 - Vinay Prasad, controversial FDA leader, to again depart agency Healthcare Dive

Story # 4 Aetna settlement

22:52 - Aetna to pay $117.7M to settle Medicare Advantage upcoding allegations: DOJ Fierce Healthcare

Story # 5 Health Systems Bullish

23:59 - Despite insurers' expense pains, Tenet Healthcare is securing healthy commercial rates through 2027 Fierce Healthcare

25:29 - Why UHS Is Acquiring Talkspace for $835M MedCity

Story # 6 Novo

27:48 - Novo Nordisk to Sell Weight-Loss Drugs Through Hims & Hers WSJ

29:07 - FDA Warns Novo Nordisk of Unreported Side Effects Tied to GLP-1 Patients WSJ

Story # 7  Tokenizing Wall Street

29:47 - Nasdaq Partners With Kraken in Plan for 24/7 Tokenized Stock Trading WSJ

31:31 - Tokenized Stocks Are Coming to a Market Near You: Five Things to Know WSJ

Story # 8  Big Tech AI in Healthcare

33:18 - Oracle Shares Jump as AI Demand Outpaces Supply WSJ

35:17 - Microsoft unveils Copilot Health as an AI health companion for consumers Fierce Healthcare

37:32 - CVS, Humana & More Are Turning to Google’s AI Models MedCity

40:15 - Amazon One Medical CMO: AI Is the Front Door to Healthcare MedCity

Marcus and Vic break down a turbulent week across geopolitics, markets, technology, and healthcare, starting with escalating conflict involving Iran and the economic volatility rippling through global markets. They examine rising uncertainty in the economy, the growing push for European tech independence from U.S. platforms, and how reliability concerns are driving companies toward self-hosted AI models. The conversation moves into financial risk as private credit giants like Blackstone face redemption pressure, the legal chaos surrounding $130B in tariff refunds, and several major healthcare venture deals including Sage, Third Way Health, KeyCare, and Grow Therapy. They also explore policy shifts such as RFK Jr.’s push to add nutrition to medical education, payer industry developments including potential sanctions against Elevance, leadership changes at Cigna, CVS partnering with Google for a new consumer health platform, and Eli Lilly going direct to employers with obesity drugs. The episode closes with a deep dive into crypto’s accelerating integration with traditional finance, OpenAI’s Pentagon controversy and the lukewarm reception to GPT-5.4, and a broader look at how companies from Oracle to Morgan Stanley to Colgate are restructuring their workforces around AI.

LInks

Story # 1 Economy Volatility

5:59 - Stock Market Today: Dow Drops 1.6%, Oil Pushes Above $80 WSJ

11:37 - Blackstone Played Down Private-Credit Risks. Now It’s Been Hit. WSJ

17:02 - Judge Orders Government to Begin Refunding More Than $130 Billion in Tariffs WSJ

Story # 2 VC deals

19:56 - Sage: $65 Million Raised For AI-Powered Senior Care Platform Pulse 2.0

20:24 - Third Way Health Secures $15M to Streamline Front-Office Operations for Medical Practices MedCity

21:07 - KeyCare raises $27.4M to scale Epic-integrated virtual care platform Mobi Health

22:28 -  Grow Therapy Raises $150M to Expand Employer, Health System Partnerships MedCity

Story #3  Medical Shools add Nutrition 

23:59 - How Kennedy Is Trying to Revamp Medical School NYT

26:21 - Dozens of medical schools meet RFK Jr.'s call for greater nutrition education Fierce Healthcare

Story # 4 Payor Rundown

31:10 CMS threatens Elevance with Medicare Advantage sanctions Healthcare Dive

30:07 - Cigna Names Brian Evanko CEO as David Cordani Retires WSJ

31:10 - CVS unveils Health 100, its new Google-powered consumer engagement platform Fierce Healthcare 

Story # 4 Lilly Extends Advantage 

33:36 - Eli Lilly launches its direct-to-employer platform for obesity drugs Fierce Healthcare

Story #5  Web3 migrating into Traditional Finance

34:53 - Kraken Becomes First Crypto Firm to Win Access to Fed’s Core Payments System WSJ

39:01 - NYSE owner invests in crypto exchange OKX at $25bn valuation X

40:04 - Trump sides with crypto firms in trillion-dollar battle with banks over stablecoin yield CNBC

Story #6 Open AI

47:09 - OpenAI CEO Sam Altman Defends Pentagon Work to Staff, Calls Backlash ‘Really Painful’ WSJ

49:05 - OpenAI introduces GPT-5.4 with more knowledge-work capability ArsTechnica

Story #7 AI Corp Reorgs

53:26 - Oracle Reportedly Plans Thousands Of Layoffs Amid Growing AI Spend Stockwits

54:56 - Morgan Stanley Lays Off 2,500 Employees Across All Divisions WSJ

56:09 - The AI Evangelist Shaking Up a 220-Year-Old Toothpaste Maker WSJ

Vic and Marcus unpack a chaotic week across AI, markets, healthcare, and crypto. They begin with a viral Substack post outlining a “2028 Global Intelligence Crisis” that triggered market volatility and reignited debate over mass white-collar job displacement. They examine Block’s decision to cut more than 40% of its workforce amid AI-driven efficiency gains and debate whether entrepreneurship will replace traditional employment. The conversation moves through new AI startups transforming medtech sales and credentialing, automation in healthcare front offices and pathology, and escalating Medicaid and ACA policy shifts that could impact deductibles and medical debt. They discuss ongoing GLP-1 coverage battles, pharma competition between Novo Nordisk and Eli Lilly, and enforcement actions against payer ghost networks. The episode also covers stablecoin growth, Coinbase’s expansion into U.S. stock trading, and the rise of agent-to-agent AI payments. They close with a high-stakes clash between the Trump administration and Anthropic over military AI use, exploring brand integrity, national security, and the future relationship between AI companies and the federal government.

Links

Story #1 AI Fears Shake Market

1:25 - THE 2028 GLOBAL INTELLIGENCE CRISIS Substack

7:32 - Jack’s announcement X

Story #2 VC Deals

13:57 - MedScout Raises $10M and Launches AI Agents for MedTech Commercial Teams Healthcare Dive 

15:24 - Altman-backed startup Verifiable rolls out AI agent to automate credentialing Fierce Healthca

17:24 - Third Way Health raises $15M for front-office AI Axios

18:12 - Coral Care Raises $13M to Scale In-Home Pediatric Therapy MedCity

Story #3 Feds Pause $ for MN

18:49 - Vance Announces Pause of Nearly $260 Million in Minnesota Medicaid Funding WSJ

22:54 - CMS unveils new initiatives aimed at cracking down on healthcare fraud Fierce Healthcare 

Story #4 Health costs Rise & State Law Changes

24:27 - New A.C.A. Plans Could Increase Family Deductibles to $31,000 NYT

25:26 - State lawmakers seek restraints on wage garnishment for medical debt Fierce Healthcare

Story #5 Payer Legal Fights

28:00 - Worker did not plausibly argue obesity was a disability, 1st Circuit finds Healthcare Dive

30:44 - New York secures more than $2.5 million from EmblemHealth over ghost networks Healthcare Finance

Story #6 Novo Turn aournd or not?

31:29 - Novo Nordisk Shares Plunge After Obesity Drug Fails to Beat Zepbound WSJ

32:32 - Eli Lilly’s Zepbound Gets FDA OK for Multi-Dose Pen WSJ

Story #7  Web3 Wakes up

33:51 -   Circle Internet’s Quarterly Profit Surges on Stablecoin Demand WSJ

36:50 -   Coinbase Pursues ‘Everything Exchange’ Concept With US Stock Trading Debut PYMNTS

Story #8  Health AI expansions

40:20 - OpenEvidence releases AI-integrated dialer feature to expand its reach with clinicians, Fierce Healthcare

41:21 - Labcorp expands PathAI pact to roll out digital pathology platform in US Healthcare Dive

Story #9  Anthroopic

42:20 - Hegseth gives Anthropic until Friday to back down on AI safeguards, Axios

44:19 - Statement from Dario Amodei on our discussions with the Department of War Website