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Are We Living The Impact Of Mixing Business And Medicine?
Are We Living The Impact Of Mixing Business And Medicine?


Healthcare is starting to cost an arm and a leg, with U.S. spending reaching over 18% of GDP and rising. Maybe you’re thinking that doesn’t sound so high? That’s almost 10% more than healthcare spending for countries in the OECD. Healthcare has become so oppressively expensive that many are opting to abstain from care even when they need treatment, minorities and other vulnerable groups make up the majority of those affected. Now amid the Coronavirus crisis healthcare will be not only expensive but difficult to acquire because of quarantining measures and scarcity of supplies.
Q1 2020 hedge fund letters, conferences and more
Business or Medicine?
In recent years Americans have witnessed on average a 20% increase in their health spending, and that is only counting people with insurance. Those without may be spending even more, or worse, avoiding care completely. We have already seen such attempts to avoid or adapt treatment.
From 2009 to 2016 the cost of Epipens, a device that delivers a dose of epinephrine to manage the life-threatening effects of anaphylactic shock, grew from $100 to $600 causing some to hold on to old prescriptions past the point of expiration, or stop obtaining the life-saving drug altogether.
For those who face death without medicine, the costs are soaring. From 2012 to 2016 insulin prices caused diabetics to spend $2,841 more each year for treatment. There doesn’t seem to be relief in sight, with healthcare spending projected to reach $6 trillion a year by 2027.
Costs Less Known
The social costs of healthcare having a business bent are much higher than financial strains. Each year delaying or avoiding care leads to 125,000 avoidable deaths, with 26,000 dying due to lack of health insurance. The more vulnerable among the population suffer more deaths, making healthcare exceedingly more businesslike in ideology and approach, reducing people to probabilities and numbers. Nearly 9 in 10 of the uninsured are nonelderly adults, with minorities making up more than half of all uninsured.
The situation was dire for many before the onset of COVID-19, but now as the pandemic spreads, hospitals are dealing with critical shortages in equipment. Nearly 1 in 4 hospitals have fewer than 100 N95 masks on hand 1 in 5 hospitals report an immediate need for more ventilators In Feb. the FDA reported drug shortages related to Coronavirus. The strategic stockpile of N95 masks maintained by the federal government is also insufficient, with just 10.5 million of the estimated 300 million the country will need.
Healthcare has been under-serving some, now with difficulty abounding due to the Coronavirus, the system will have a hard time serving most.
Learn more about the social costs of mixing business and medicine below.
The post Are We Living The Impact Of Mixing Business And Medicine? appeared first on ValueWalk.
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Vitalik Buterin voices concerns over DAOs approving ETH staking pool operators
The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses…

The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses a systemic risk.
Vitalik Buterin, the co-founder of Ethereum, has expressed worries regarding decentralized autonomous organizations (DAOs) exerting a monopoly over the selection of node operators in liquidity staking pools.
In a September 30 blog post, Buterin issues a warning that as staking pools adopt the DAO approach for governance over node operators—who are ultimately responsible for the pool's funds—it can expose them to potential risks from malicious actors.
“With the DAO approach, if a single such staking token dominates, that leads to a single, potentially attackable governance gadget controlling a very large portion of all Ethereum validators.”
Buterin highlights the liquid staking provider Lido (LDO) as an example with a DAO that validates node operators. However, he emphasizes that relying on just one layer of protection may prove insufficient:
“To the credit of protocols like Lido, they have implemented safeguards against this, but one layer of defense may not be enough,” he noted.

Meanwhile, he explains that Rocket Pool offers the opportunity for anyone to become a node operator by placing an 8 Ether (ETH) deposit, which, at the time of this publication, is equivalent to approximately $13,406.
However, he notes this comes with its risks. "The Rocket Pool approach allows attackers to 51% attack the network, and force users to pay most of the costs," he stated.
On the other hand, Buterin highlights that having a mechanism to ascertain who can act as the underlying node operators is an inevitable necessity:
"It can't be unrestricted, because then attackers would join and amplify their attacks with users' funds."
Related: Ethereum is about to get crushed by liquid staking tokens
Buterin further outlines that a possible approach to address this issue involves encouraging ecosystem participants to utilize a variety of liquid staking providers.
He clarifies this would decrease the likelihood of any one provider becoming excessively large and posing a systemic risk.
“In the longer term, however, this is an unstable equilibrium, and there is peril in relying too much on moralistic pressure to solve problems," he stated.
Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines
ethereumUncategorized
DOJ readies witnesses in Bankman-Fried trial, spotlight on FTX assets
This initiative also encompasses their comprehension of Sam Bankman-Fried’s remarks and conduct, particularly regarding FTX’s asset management.
…

This initiative also encompasses their comprehension of Sam Bankman-Fried's remarks and conduct, particularly regarding FTX's asset management.
The Department of Justice (DOJ) has affirmed its plan to summon former FTX clients, investors, and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX executive. This will shed light on how these individuals viewed their interactions with Bankman-Fried and his company.
The DOJ submitted a letter motion in limine on Sept. 30, to enable them to get the interpretation of the witnesses on FTX’s treatment of customer assets, which will hold significant importance.
Importantly, these testimonies are intended to provide valuable perspectives on the interactions between the accused and these witnesses. This initiative also encompasses their comprehension of Bankman-Fried's remarks and conduct, particularly regarding FTX's asset management. The DOJ intends to emphasize the experiences of both retail and institutional clients who entrusted substantial assets to FTX with the belief that the platform would safeguard them securely.

Furthermore, a distinctive situation has emerged concerning one of the DOJ's witnesses, referred to as "FTX Customer-1," who resides in Ukraine. Given the ongoing conflict, there are difficulties associated with traveling to the United States to provide testimony. Consequently, the DOJ has suggested using video conferencing as a viable alternative. However, Bankman-Fried's defense has not yet approved this proposal.
Nonetheless, the legal team representing Bankman-Fried, led by lawyer Mark Cohen, has voiced concerns about the jury questions put forth by the DOJ. According to Bankman-Fried’s defense, these interrogations insinuate guilt on Bankman-Fried's part, potentially undermining the principle of "innocent until proven guilty."
Additionally, the defense contends that these inquiries may not effectively uncover the jurors' inherent biases, especially if related to their personal encounters with cryptocurrencies. Moreover, certain questions could inadvertently guide the jury's perspective instead of eliciting authentic insights, possibly compromising the trial's impartiality.
Related: Sam Bankman-Fried’s lawyer challenges US gov’t proposed jury questions
With the jury selection scheduled to start on Oct. 3, closely followed by the trial, the spotlight is firmly on this high-stakes legal confrontation. This case underscores not only its immediate consequences but also underscores the vital importance of transparent communication and unbiased questioning in upholding the principles of justice.
Magazine: Deposit risk: What do crypto exchanges really do with your money?
crypto cryptoUncategorized
Vitalik Buterin voices concerns over DAOs approving stake pool operators
The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses…

The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses a systemic risk.
Vitalik Buterin, co-founder of Ethereum, has expressed worries regarding decentralized autonomous organizations (DAOs) exerting a monopoly over the selection of node operators in liquidity staking pools.
In a September 30 blog post, Buterin issues a warning that as staking pools adopt the DAO approach for governance over node operators—who are ultimately responsible for the pool's funds—it can expose them to potential risks from malicious actors.
“With the DAO approach, if a single such staking token dominates, that leads to a single, potentially attackable governance gadget controlling a very large portion of all Ethereum validators.”
Buterin highlights staking protocol Lido (LDO) as an example with a DAO that whitelists node operators. However, he emphasizes that relying on just one layer of protection may prove insufficient.
“To the credit of protocols like Lido, they have implemented safeguards against this, but one layer of defense may not be enough,” he noted.

Meanwhile, he explains that Rocket Pool offers the opportunity for anyone to become a node operator by placing an 8 Ether (ETH) deposit, which, at the time of this publication, is equivalent to approximately $13,406.
However, he notes this comes with its own risks. "The Rocket Pool approach allows attackers to 51% attack the network, and force users to pay most of the costs," he stated.
Related: Ethereum is about to get crushed by liquid staking tokens
Buterin highlights that a possible approach to address this issue involves encouraging ecosystem participants to utilize a variety of liquid staking providers.
He clarifies this would decrease the likelihood of any one provider becoming excessively large and posing a systemic risk.
“In the longer term, however, this is an unstable equilibrium, and there is peril in relying too much on moralistic pressure to solve problems.”
Magazine: Are DAOs overhyped and unworkable? Lessons from the front lines
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