Ma Bell versus Amazon
“AT&T had a total monopoly because they would not allow anyone to make and use a helpful device on their nationwide network of wires and switching.
“Amazon, for example, is different from AT&T.
“Amazon owned no nationwide infrastructure. It had to compete from the beginning. So it started by selling books at more affordable prices, in competition with huge national bookstore chains.
“A monopoly hurts customers. Amazon helped customers in several ways: better prices, online shopping, convenient shipping and faster service.
“Amazon today provides next-day free shipping. It enables thousands of small makers and sellers to serve the public using a platform built by Amazon. It lowers the cost of living for tens of millions of Americans and beyond America.
“To put it simply, Amazon has operated smarter than the traditional stores and people have voted with their dollars to use Amazon.
“It would be colossally stupid to deprive customers of such first-class service by applying old laws that were ill-conceived at best.”
More on this tomorrow. In the meantime, share your opinion of our reader’s missive.
Your Rundown for Wednesday, November 20, 2019:
CRISPR Technology Breakthrough
If CRISPR sounds like the latest tech startup, it’s not.
Rather, CRISPR stands for Clustered Regularly Interspaced Short Palindromic Repeats; in brief — and we’re talking very shorthand here — it’s a system for “editing” genes.
And it’s currently the least expensive, most accurate way to modify genes of plants, animals and humans.
As you can imagine, the implications are tremendous, disrupting everything from food production to cancer treatment.
Most recently, small biotech Crispr Therapeutics (CRSP) partnered with Vertex Pharmaceuticals (VRTX) in clinical trials to treat patients afflicted with two blood disorders, one being sickle cell anemia.
“While still very early, the results provide the first suggestion of curative potential for this cutting-edge technology in such genetic diseases,” says RBC Capital Markets analyst Brian Abrahams.
“Although there were side effects,” Investor’s Business Daily reports, “none were related to the CRISPR gene-editing drug.” (emphasis added)
On news of the promising breakthrough, CRSP stock closed up Tuesday — almost 17%. Vertex might be an even better investment: In the past 3 years, VRTX has more than doubled its revenue.
Definitely two companies to watch in the biotech/biopharma space.
Market Rundown for Wed. Nov. 20, 2019
S&P 500 futures are down 6.5 points to 3,112.
Oil’s added 40 cents to its price of $55.61 for a barrel of WTI.
Gold’s lost $3.30 to $1,471 per ounce.
Bitcoin’s down $29.12 to $8,179.31.
Have a good day. We’ll talk tomorrow.
For the Rundown,