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[1/2] Sam Altman, CEO of ChatGPT maker OpenAI, arrives for a bipartisan Artificial Intelligence (AI) Insight Forum for all U.S. senators hosted by Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S., September 13, 2023. The previously unreported letter and AI algorithm was a catalyst that caused the board to oust Altman, the poster child of generative AI, the two sources said. The sources cited the letter as one factor among a longer list of grievances by the board that led to Altman’s firing. According to one of the sources, long-time executive Mira Murati told employees on Wednesday that a letter about the AI breakthrough called Q* (pronounced Q-Star), precipitated the board's actions. OpenAI defines AGI as AI systems that are smarter than humans.

Persons: Sam Altman, OpenAI, Chuck Schumer, Julia Nikhinson, Sam Altman’s, Altman, Mira Murati, ChatGPT, Anna Tong, Jeffrey Dastin, Krystal Hu, Kenneth Li, Lisa Shumaker Organizations: Intelligence, Senate, U.S, Capitol, REUTERS, Reuters, Microsoft, Thomson Locations: Washington , U.S, San Francisco, New York

Bret Taylor, formerly co-CEO of Salesforce, and Larry Summers, former U.S. Treasury Secretary, will join Quora CEO and current director Adam D'Angelo, OpenAI said. Altman said in a post on X, "i'm looking forward to returning to openai." In a statement on X, Microsoft CEO Satya Nadella welcomed the changes to OpenAI's board. In a post on X, Shear celebrated the late-night outcome Tuesday, which he said followed "~72 very intense hours of work." Following this show of solidarity, Altman wrote on X: "we have more unity and commitment and focus than ever before."

Persons: Sam Altman, Bret Taylor, Larry Summers, Adam D'Angelo, OpenAI, Altman, Satya Nadella, Altman's, OpenAI's, Emmett Shear, Sam Altman's, Susannah Streeter, Hargreaves Lansdown, Shear, Greg Brockman, Brockman, Jeffrey Dastin, Tanna, Bansari, Dhanya Ann Thoppil, Nivedita Bhattacharjee, Sam Holmes Organizations: Microsoft, U.S . Treasury, Quora, Hargreaves, Reuters, Thomson Locations: openai, San Francisco, Bengaluru

The previously unreported letter and AI algorithm were key developments before the board's ouster of Altman, the poster child of generative AI, the two sources said. An OpenAI spokesperson said that the message, sent by long-time executive Mira Murati, alerted staff to certain media stories without commenting on their accuracy. This could be applied to novel scientific research, for instance, AI researchers believe. In their letter to the board, researchers flagged AI’s prowess and potential danger, the sources said without specifying the exact safety concerns noted in the letter. Researchers have also flagged work by an "AI scientist" team, the existence of which multiple sources confirmed.

Persons: Sam Altman’s, Altman, Mira Murati, Sam Altman, OpenAI, Chuck Schumer, Julia Nikhinson, I've, Anna Tong, Jeffrey Dastin, Krystal Hu, Kenneth Li, Lisa Shumaker Organizations: Reuters, Microsoft, Intelligence, Senate, U.S, Capitol, REUTERS, Economic Cooperation, Thomson Locations: OpenAI, Washington , U.S, San Francisco, Asia, New York

"i'm looking forward to returning to openai," Altman said in a post on the X social media platform late on Tuesday. Sam Altman attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. OpenAI's previous board consisted of Tasha McCauley, Helen Toner and OpenAI chief scientist Ilya Sutskever and Quora CEO D'Angelo, who is part of the revamped board. In a post on X on Tuesday, Shear said he worked "~72 very intense hours" to bring stability - and ultimately Altman - back to OpenAI. When he was out of a job, CEO Nadella said Altman could head a new research team alongside Brockman and other colleagues departing from OpenAI.

Persons: Bret Taylor, Brockman, FRANCISCO, Sam Altman, OpenAI, Larry Summers, Adam D'Angelo, D'Angelo, Altman, Danni Hewson, AJ Bell's, Satya Nadella, Kyle Rodda, Carlos Barria, Tasha McCauley, Helen Toner, Ilya Sutskever, Steve Jobs, Greg Brockman, Sunday Altman, Emmett Shear, Shear, Nadella, Jeffrey Dastin, Aditya Soni, Shivani Tanna, Bansari, Dhanya Ann Thoppil, Nivedita Bhattacharjee, Sam Holmes, Jane Merriman Organizations: U.S . Treasury, Microsoft, Economic Cooperation, REUTERS, Reuters, U.S, Thomson Locations: openai, U.S, OpenAI, Asia, San Francisco , California, Valley, San Francisco, Bengaluru

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 20 (Reuters) - OpenAI's board of directors approached rival Anthropic's CEO about replacing chief Sam Altman and potentially merging the two AI startups, according to two people briefed on the matter. The news, reported earlier by The Information on Monday, follows various reported calls to find Altman's successor days after OpenAI's board ousted him. OpenAI declined to comment and board member Adam D'Angelo did not immediately respond to a request for comment. On Sunday the board offered ex-Twitch CEO Emmett Shear to be its interim chief, who accepted. By Monday, nearly all of the startup's more than 700 employees threatened to quit, including one of its executives on OpenAI's now four-person board.

Persons: Dado Ruvic, Sam Altman, Dario Amodei, OpenAI's, OpenAI, Adam D'Angelo, Emmett Shear, Altman, Anthropic, Claude, Jeffrey Dastin, Urvi, Nivedita Bhattacharjee, Sam Holmes Organizations: REUTERS, Sunday, Microsoft, OpenAI, Google, Thomson Locations: San Francisco, Bengaluru

The startup's newly appointed interim head moved quickly to dismiss speculation that OpenAI's board ousted Altman due to a spat over the safety of powerful AI models. It was not clear why Murati had stepped down as interim CEO. [1/4]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. Some of those joining Altman at Microsoft include senior researchers Szymon Sidor and Jakub Pachocki, according to Brockman. Microsoft had supported a return by Altman to the startup, according to sources, a move that seemed likely only hours prior to Monday's announcements.

Persons: OpenAI, Emmett Shear, Sam Altman, Greg Brockman, OpenAI's, Altman, Shear, Ilya Sutskever, we've, Sutskever, Mira Murati, reinstates Altman, Brockman, Bret Taylor, Will Hurd, Murati, Carlos Barria, Richard Windsor, Satya Nadella, Szymon Sidor, Jakub Pachocki, Russ Mould, AJ Bell, Nadella, Jeffry Dastin, Anna Tong, Krystal Hu, Akash Sriram, Aditya Soni, Urvi, Shubham, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes, Susan Fenton, Chizu Nomiyama, Anil D'Silva Organizations: Microsoft, FRANCISCO, Google, OpenAI, Reuters, Economic Cooperation, REUTERS, Radio Free Mobile, Thomson Locations: OpenAI, Texas, Asia, San Francisco , California, U.S, San Franciso, New York, Bengaluru

In a statement on the social media platform X, Shear dismissed speculation that OpenAI's board ousted Altman because of a spat over the safety of powerful AI models. OpenAI dismissed Altman on Friday following a "breakdown of communications," according to an internal memo seen by Reuters. [1/4]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. In a separate post on X, Altman shared Nadella's message with the words, "the mission continues". loadingThe decision not to reinstate Altman as OpenAI's chief confounded efforts by investors and employees to steady the startup's path.

Persons: OpenAI, Emmett Shear, Sam Altman, Shear, OpenAI's, Altman, Satya Nadella, Greg Brockman, Carlos Barria, Nadella, Szymon Sidor, Brockman, Richard Windsor, Ilya Sutskever, Jeffry Dastin, Anna Tong, Urvi, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes, Susan Fenton Organizations: Microsoft, OpenAI, Reuters, Economic Cooperation, REUTERS, The, Radio Free Mobile, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, OpenAI, San Franciso, Bengaluru, New York

OpenAI and Altman did not reply to requests for comment. Kholsa Ventures, an early backer of OpenAI, wants Altman back at OpenAI but "will back him in whatever he does next," the fund's founder Vinod Khosla posted on X on Saturday. Others expressed support for joining Altman in starting a company, a third person familiar with the matter said. Tech website The Verge earlier reported the OpenAI board's discussions with Altman to return as CEO. Forbes reported on Saturday investors were plotting to restore Altman as CEO.

Persons: Sam Altman, Altman, Vinod Khosla, Altman's, Elon Musk, Greg Brockman, OpenAI, Brockman, Szymon Sidor, Sidor, Jony, SoftBank, Masayoshi Son, Brad Lightcap, Forbes, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li, William Mallard Organizations: Microsoft, Kholsa Ventures, Union, U.S, Altman, Reuters . Tech, Thomson Locations: OpenAI, New York, San Francisco, Gursimran Kaur, Bengaluru

Companies Openai LLC FollowApple Inc FollowMicrosoft Corp Follow Show more companiesNov 18 (Reuters) - Sam Altman, the recently ousted CEO of OpenAI, has been working on a new artificial intelligence venture he is planning to launch, sources briefed on the plan said on Saturday. Altman could not be reached for comment and Brockman did not immediately respond to a Reuters request for comment. Some researchers at OpenAI, including Szymon Sidor, have quit the company over the CEO change but it was unclear if Sidor and others will join Altman's new venture. The board of OpenAI, the company behind hit product ChatGPT, on Friday pushed out its high-profile CEO Altman. Co-founder Brockman quit shortly after Altman was fired.

Persons: Sam Altman, Greg Brockman, OpenAI, Altman, Brockman, Szymon Sidor, Sidor, Jony, Masayoshi Son, Altman's, Brad Lightcap, Krystal Hu, Anna Tong, Jeffrey Dastin, Gursimran, Chizu Nomiyama, Kenneth Li Organizations: Microsoft, Reuters, Thomson Locations: New York, San Francisco, Gursimran Kaur, Bengaluru

Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."

Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York

☆ Polluting Industries Say the Cost of Cleaner Air Is Too High
▼ + stars: | 2023-11-13 | by ( Lydia Depillis | More About Lydia Depillis | ) www.nytimes.com time to read: +1 min

By law, the agency isn’t supposed to consider the impact on polluting industries. In practice, it does — and those industries are warning of dire economic consequences. Under the Clean Air Act, every five years the E.P.A. Fine particulate matter is extremely dangerous when it percolates into human lungs, and the law has driven a vast decline in concentrations in areas like Los Angeles and the Ohio Valley. But technically there is no safe level of particulate matter, and ever-spreading wildfire smoke driven by a changing climate and decades of forest mismanagement has reversed recent progress.

Persons: Biden, Trump, Jeffrey D Organizations: Environmental Protection Agency, Act, White House Locations: Los Angeles, Ohio

☆ The Only People Who Understand What a Caregiver Goes Through
▼ + stars: | 2023-11-11 | by ( Paula Span | ) www.nytimes.com time to read: +1 min

Both men are patients at Penn Memory Center in Philadelphia, which began this mentorship program for caregivers in September. Dr. Dunbar, a nurse-practitioner who lives in Wallingford, Pa., is younger, at 61, but has coped with caregiving for far longer: Her husband, Jeffrey Draine, 60, was diagnosed with early-onset Alzheimer’s in 2017. Philip Sadtler, 80, received his diagnosis just two years ago, so his wife has long lists of questions about what lies ahead. How can she handle the guilt of leaving him at home sometimes while she volunteers or sees friends? How long can the couple, who live in Berwyn, Pa., continue traveling to California to visit their daughter and her family?

Persons: Julia Sadtler, Debora Dunbar, Alzheimer’s, . Dunbar, Jeffrey Draine, “, I’ve, ”, Philip Sadtler, Philip Organizations: Penn Memory Center Locations: Philadelphia, Wallingford, Pa, Berwyn, California

Google and Character AI did not respond to requests for comment. The demographic is helping the company position itself as the purveyor of more fun personal AI companions, compared to other AI chatbots from OpenAI's ChatGPT and Google's Bard. Character.AI is also in talks to raise equity funding from venture capital investors, which could value the company at over $5 billion, sources said. The talks with Google are ongoing and terms of the deal could change, said the sources, who requested anonymity as the discussions are private. Anthropic uses Google's cloud services as well as its latest version of TPUs.

Persons: Character.AI, Noam Shazeer, Daniel De Freitas, Billie Eilish, Character.AI's, Google's Bard, Andreessen Horowitz, Lina Khan, Krystal Hu, Anna Tong, Jeffrey Dastin, Bill Berkrot Organizations: Google, Reuters, Microsoft, . Federal Trade Commission, Thomson Locations: OpenAI, ., San Francisco, New York

A sign is pictured outside a Google office near the company's headquarters in Mountain View, California, U.S., May 8, 2019. Among the opportunities is the company's plan to liven its timer-setting, command-fulfilling Google Assistant with Bard's human-directed suggestions. Connecting these products, first via mobile devices in the coming months, will introduce AI to more people, said Krawczyk. Google Search traffic fell 0.4%, the analysts' note said. The surge reminded Krawczyk of what Google Search faced upon news of pop star Michael Jackson's death in 2009, he said.

Persons: Paresh Dave, Bard, Jack Krawczyk, OpenAI, ChatGPT, Krawczyk, Michael Jackson's, Jeffrey Dastin, Daniel Wallis Organizations: REUTERS, Reuters NEXT, Google, YouTube, Bank of America, Gmail, Thomson Locations: Mountain View , California, U.S, New York, ChatGPT

☆ EU AI Act to serve as blueprint for global rules, Benifei says
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken June 23, 2023. While several countries have been looking at ways to regulate AI, European lawmakers have taken a lead by drafting AI rules aimed at setting a global standard for a technology key to almost every industry and business. Executives and experts attending the conference stressed the importance of establishing guardrails to AI to prevent threats to society and democracy. Last week, Britain published a paper known as the "Bletchley Declaration", agreed with 28 countries including U.S. and China, aimed at boosting global efforts to cooperate on AI safety. "We can build these common alphabet because it's very important to deal with higher level challenges on AI development, for example, the risk of AI used as weapons," he said.

Persons: Dado Ruvic, Brando Benifei, Benifei, Joe Biden, Liz O'Sullivan, Supantha Mukherjee, Diane Bartz, Jeffrey Dastin, Diane Craft Organizations: REUTERS, Union, Reuters NEXT, U.S, Congress, National AI, Reuters, reuters, Thomson Locations: EU, New York, Britain, Bletchley, U.S, China, Stockholm, Washington, San Francisco

☆ Apple is not passing on costs of climate goals to consumers, exec says
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

People stand outside an Apple Store as Apple's new iPhone 15 officially goes on sale across China, in Shanghai, China September 22, 2023. "I want to do it in a way that other businesses can say this isn't because they’re Apple," said Jackson, referring to Cook's direction. Critics say it is easier for a tech company like Apple to meet such goals than it would be for corporations in more energy-intensive industries. Jackson also said Apple is working with smaller processing companies to recycle rare earths and other materials. "That's somewhere Apple can invest and then help to scale and bring (other) businesses along," she said.

Persons: Aly, Lisa Jackson, Alessandra Galloni, Jackson, Tim Cook, Jackson nodded, Jeffrey Dastin, Kenneth Li, Ross Kerber, Daniel Wallis Organizations: Apple, REUTERS, Reuters NEXT, Reuters, U.S . Environmental Protection Agency, Apple Watch, Thomson Locations: China, Shanghai, New York, California, U.S, Boston

☆ ‘Billions’ series finale review (SPOILERS): The Showtime drama settles all accounts with its final showdown
▼ + stars: | 2023-10-29 | by ( Brian Lowry | ) edition.cnn.com time to read: +3 min

Editor’s note: The following contains spoilers about the series finale of “Billions,” titled “Admirals Fund.”After seven twisty seasons, with more double and triple crosses than you can shake a stock certificate at, “Billions” successfully landed the plane (OK, private jet) with its series finale, in a satisfying finish that reassembled the key players and even gave them time to take individual bows. For a show with so much bite and venom, it was oddly sentimental in generally the best of ways. The final season found a way to raise the stakes above high finance, with billionaire Mike Prince (Corey Stoll) running for president, exhibiting enough problematic qualities and questionable beliefs to inspire those within in his inner circle to turn against him and try to thwart his bid. If it wasn’t quite the game of catch scene from “Field of Dreams,” for these purposes the point was much the same. The “Billions” finale is playing on Paramount+ and will premiere October 29 on Showtime.

Persons: Mike Prince, Corey Stoll, Prince, immeasurably, Damian Lewis, Bobby “, ” Axelrod, Chuck Rhoades, Paul Giamatti, Jeffrey DeMunn, Chuck, “, Brian Koppelman, David Levien, Bobby, Wendy, Maggie Siff, Mike “ Wags ” Wagner, David Costabile, ”, Steve Miller Organizations: “, Showtime, Paramount

An illuminated Google logo is seen inside an office building in Zurich, Switzerland December 5, 2018. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 27 (Reuters) - Alphabet's (GOOGL.O) Google has agreed to invest up to $2 billion in the artificial intelligence company Anthropic, a spokesperson for the startup said on Friday. The company has invested $500 million upfront into the OpenAI rival and agreed to add $1.5 billion more over time, the spokesperson said. Amazon.com (AMZN.O) also said last month it would invest up to $4 billion in Anthropic to compete with growing cloud rivals on AI. Anthropic, which was co-founded by former OpenAI executives and siblings Dario and Daniela Amodei, has shown efforts to secure the resources and deep-pocketed backers needed to compete with OpenAI and be leaders in the technology sector.

Persons: Arnd, OpenAI, Dario, Daniela Amodei, Krystal Hu, Chavi Mehta, Jeffrey Dastin, Anil D'Silva, Devika Syamnath, Chris Reese Organizations: REUTERS, Google, Microsoft, Big Tech, U.S . Securities, Exchange Commission, Amazon, Street, Anthropic, Thomson Locations: Zurich, Switzerland, Anthropic, New York, Bengaluru

☆ The Best True Crime to Stream: Stories That Are Very Scary, and Real
▼ + stars: | 2023-10-25 | by ( Maya Salam | More About Maya Salam | ) www.nytimes.com time to read: +1 min

The term “killer clown” would normally send me running for the hills. But I was curious about this 2021 six-episode Peacock docuseries, which is a comprehensive exploration of the crimes committed by the serial killer John Wayne Gacy, who preyed on boys and men and was sentenced on 33 counts of homicide in 1980. profiler Robert Ressler, who is credited with creating the term “serial killer.” (For “Mindhunter” fans, Ressler inspired the character of Special Agent Bill Tench.) While serial killers like him have often been too heavily glorified, there is value in not forgetting the systemic failures that allowed such horrors to continue unchecked. Much as they did with the crimes of Jeffrey Dahmer, the police ignored warnings and pushed aside clues, including pleas from a victim who’d survived, because of entrenched homophobia.

Persons: Peacock, John Wayne Gacy, Gacy, Pogo, Gacy’s, Robert Ressler, Mindhunter, Ressler, Bill Tench, Jeffrey Dahmer, who’d Locations: Chicago, Illinois

☆ UN approves Haiti security mission to fight gangs
▼ + stars: | 2023-10-02 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

UNITED NATIONS, Oct 3 (Reuters) - The United Nations Security Council on Monday authorized a foreign security mission to Haiti, a year after the Caribbean country asked for help to fight violent gangs that have largely overrun its capital Port-au-Prince. The Security Council also expanded a U.N. arms embargo to include all gangs - a measure China wanted. The response to Haiti's request for help was delayed due to a struggle to find a country willing to lead a security assistance mission. The Security Council stressed an "urgent need" for Haiti to make progress toward "transparent, inclusive, and credible electoral processes and free and fair elections." The security assistance mission, while approved by the U.N. Security Council, is not a United Nations operation.

Persons: Jean Victor Geneus, Jeffrey DeLaurentis, Zhang Jun, Alfred Mutua, William Ruto, Ruto, Ariel Henry, Linda Thomas, Greenfield, Jean, Bertrand Aristide, Michelle Nichols, Sarah Morland, George Obulutsa, Cynthia Osterman, Andrew Heavens, Alison Williams Organizations: UNITED NATIONS, United Nations Security, Security, Foreign Affairs, Kenyan, U.S, Security Council, . Security, United, Peacekeeping, Monday, Thomson Locations: Haiti, Caribbean, Port, United States, Ecuador, China, Russia, U.S, Kenya, Bahamas, Jamaica, Antigua, Barbuda, East, United Nations, Caracas, Nairobi

☆ UN authorizes Haiti security mission to fight gangs
▼ + stars: | 2023-10-02 | by ( Michelle Nichols | ) www.reuters.com time to read: +4 min

UNITED NATIONS, Oct 2 (Reuters) - The United Nations Security Council on Monday authorized a foreign security mission to Haiti, a year after the Caribbean country asked for help to fight violent gangs that have largely overrun its capital Port-au-Prince. The Security Council also expanded a U.N. arms embargo to include all gangs - a measure China wanted. The response to Haiti's request for help was delayed due to a struggle to find a country willing to lead a security assistance mission. The Security Council stressed an "urgent need" for Haiti to make progress toward "transparent, inclusive, and credible electoral processes and free and fair elections." The security assistance mission, while approved by the U.N. Security Council, is not a United Nations operation.

Persons: Jean Victor Geneus, Jeffrey DeLaurentis, Zhang Jun, Linda Thomas, Greenfield, Ariel Henry, Jean, Bertrand Aristide, Michelle Nichols, Sarah Morland, Cynthia Osterman Organizations: UNITED NATIONS, United Nations Security, Security, U.S, Security Council, . Security, United, Peacekeeping, Monday, Thomson Locations: Haiti, Caribbean, Port, United States, Ecuador, China, Russia, U.S, Kenya, Bahamas, Jamaica, Antigua, Barbuda, United Nations

They declined to state how much Amazon now would own of Anthropic or the startup's updated valuation, last estimated at more than $4 billion. The deal also shows ongoing maneuvering by the cloud companies to secure ties with AI startups reshaping their industry. Yet with Monday's deal, Anthropic is giving a boost to Amazon Bedrock, a service that has attracted thousands of users to start building AI applications. LexisNexis, a data analytics company, is working with Anthropic and Amazon to make its own legal search capabilities more "intelligent," Amodei said. Asked if Amazon would invest in additional AI startups beyond Anthropic, Selipsky said, "I honestly don't know what the future will hold."

Persons: Anthropic, OpenAI, Adam Selipsky, Dario Amodei, Pascal, Selipsky, Claude, Amodei, Jeffrey Dastin, Kenneth Li Organizations: FRANCISCO, Amazon, Microsoft, Google, Amazon's, REUTERS, LexisNexis, Bridgewater Associates, Thomson Locations: Anthropic, San Francisco

☆ Medicare's drug-price negotiations will save the government billions in healthcare spending — but patients may not feel the benefits
▼ + stars: | 2023-09-25 | by ( Natalie Rahhal | ) www.businessinsider.com time to read: +6 min

Patients with private health insurance aren't likely to see a drop in costs from the negotiations. Longo said the price-setting provisions will drive research and investment away from treatment options for Medicare patients. If drug companies won't come to the negotiating table to lower drug prices paid by private insurers, those insurers could take the companies' drugs off their lists of covered medications. Or, if private insurance companies don't negotiate drug prices down for their patients, patients in some cases could seek out different insurance. "These are not full solutions, but they are the beginning of cracks in the facade" of drug companies' constant price hikes, Feldman said.

Persons: Biden, Juliette Cubanski, Jeffrey Davis, Davis, Richard Frank, —, Nicole Longo, Longo, it's, — aren't, Robin Feldman, Feldman, Cuban's Organizations: Medicare, Healthcare, Morning, Centers, Services, Congressional, McDermott, Consulting, Brookings Schaeffer Initiative, Health, Pharmaceutical Research, Manufacturers of America, PhRMA, University of California Law School, Costco, Pharmaceutical Locations: Lower

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