Now available on Prime… colonoscopy appointments. Yesterday, Amazon announced it agreed to buy membership-based healthcare provider One Medical for nearly $4B. It’s the Zon’s third-largest deal ever, after Whole Foods ($14B) and MGM ($9B). One Med, whose stock rose 60%+ yesterday, is a key partner for Amazon as it expands into healthcare:

• Convenient: One Med offers patients 24/7 virtual and IRL care at its 200 swanky clinics through a sleek app. Think: tele-prescriptions and same-day app-scheduled visits.
• Subscription: Patients pay $200/year just for membership, on top of normal care costs, which can be paid through insurance or out of pocket.
• Techy: Amazon wants to leverage One Med’s tech and network of nearly 800K members to “reinvent” healthcare (imagine: Alexa-powered checkups and Prime pill pickup).
• The Zon’s given few details about how One Med fits into its plans, but said the current CEO will stay in place.

Dr. Alexa just finished med school… but Amazon’s been quietly pushing into healthcare for years. The ecomm giant bought the online pharmacy PillPack for $750M in 2018 and used it to launch its own online pharmacy in 2020 (Prime members get free shipping). In 2019, the Zon launched a telehealth service for employees called Amazon Care. Last year, Amazon Care opened its service to US employers.

Checking Elon’s W-2… Over the past three years, top public companies reported paying $2.1B in taxes to cover executive pay (up more than 4X from 2019). Typically, corporations can deduct worker pay as a business expense when filing their taxes. For decades, companies could write off multimillion-dollar paychecks for high-performing, high-earning execs (and save on taxes). But the 2017 tax overhaul forced companies to pay the 21% corporate tax rate on all paychecks over $1M. Now companies are paying big bills on their execs’ big paydays:

• Tesla spent $447M on exec pay taxes over three years. Elon’s total comp: $2.1B.
• Lennar: The homebuilding behemoth racked up a $29M exec pay tax bill last year.
• Howmet Aerospace: The jet-engine giant has paid $21.5M in exec pay taxes since 2019.

Payday… Corporate tax liabilities haven't stopped exec pay from swelling. Last year, CEOs of S&P 500 companies earned $18.3M in compensation (think: salary, bonuses, stock) on average — 324X more than average workers. And while typical worker pay ticked up 5% (behind inflation), CEO pay jumped 18%.

• Land: American Airlines landed its first profit (sans gov support) since the pandemic started, but delay-plagued fliers aren’t celebrating. Despite high fares, airlines still can't keep up with demand.
• Blockpain: Crypto exchange Blockchain.com is cutting a quarter of its staff. It’s the latest layoff in an industry-wide downsizing trend, as exchanges like Gemini and Coinbase struggle through crypto winter.
• Wheel: Baidu, aka: the Google of China, is betting on new robotaxis that come complete (incomplete?) with detachable steering wheels. But the futuristic tech hasn’t yet been approved for public roads.
• Juicy: Ford pleasantly surprised investors by securing enough battery supplies to churn out 600K electric cars a year by 2023. The auto OG is aiming to produce 2M EVs/year by 2026 (watch out, Tesla).
• Chipper: Samsung is considering investing $200B into 11 Texas chip plants over the next two decades as US lawmakers eye $50B in subsidies for local chip makers (because: #GlobalChipShortage).

• Earnings expected from Verizon, NextEra Energy, and American Express

Authors of this Snacks own shares of Berkshire Hathaway, Amazon, Ford, Google, Netflix, and Tesla

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