Read the pitch deck that buzzy startup Devoted Health used to reach a $1.8 billion valuation before it signed up a single customer

Devoted Health wants to change the way the U.S. takes care of its senior citizens, and it has big plans in its first five years to do just that. The startup, which has been gathering lots of buzz in the last year, was founded to sell private health insurance plans to U.S. seniors, a market that is growing rapidly as Baby Boomers age. Using one pitch deck, Devoted Health managed to secure $300 million from investors in a funding round led by Andreessen Horowitz late last year, with a valuation of $1.8 billion – all before it signed up a single customer. But the deck also outlined the company’s aggressive… Read More

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Gravity Payments invests $500K in Joe Coffee to help startup enhance service and take on Square

The Joe Coffee team, with co-founders in front, from left, Nick Martin, Brenden Martin and Lenny Urbanowski. (Joe Coffee Photo) Dan Price, the high-profile co-founder and CEO of Seattle-based credit card processing and financial services company Gravity Payments, has been thinking about coffee shops and fairness since his days growing up in Idaho. Back when Price’s band played at a local coffee shop, the shop owner had to charge the band a 3 percent processing fee when fans would pay at the door with a credit card. Price remembers thinking it was unfair that the owner was being charged just to get her money. That helped spark his interest in… Read More

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This is the sniper rifle that the US Army, Marines, and the special operators all want to get their hands on

The sniper rifle of choice for the US military looks to be the Multi-Role Adaptive Design (MRAD) bolt-action rifle from Barrett Firearms, Task & Purpose first reported, citing recent budget documents. The rifle, a US Army lethality subject matter expert told Insider, “gives more flexibility to the sniper as to what configuration to put it in and what targets they are going after” because the weapon can be chambered in three different calibers. The Army, as part of its Precision Sniper Rifle program, and the Marines, as part of the Advanced Sniper Rifle program, requested a total of 786 MRAD rifles for roughly $14 million in the latest budget requests.… Read More

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Worldwide economic growth could shrink by more than $1 trillion if coronavirus becomes a global pandemic, one research firm warns

Oxford Economics projects the coronavirus could wipe out $1.1 trillion from their baseline worldwide gross domestic product forecast if it morphs into a global pandemic. A more optimistic estimate from the firm anticipates the pandemic being contained within Asia, and global GDP falling $400 billion below their baseline before a sharp recovery in 2021. A global pandemic would likely cause massive labor shortages, lower spending, declines in the travel and tourism industries, and technical recessions in the US and advanced European economies, the economists wrote. Visit the Business Insider homepage for more stories. Analysts are rushing to quantify the fallout of an intensified coronavirus outbreak, and Oxford Economics believes the… Read More

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Canadian Income Inequality Is Shrinking, And Liberals Can Take Some Credit

MONTREAL ― Income inequality has started shrinking in Canada, and policies designed to help low-income earners ― including minimum wage hikes ― can take credit for some of that. According to data released by Statistics Canada Monday, after-tax incomes were largely unchanged for Canadian families and persons living alone in 2018, but among the bottom 40 per cent of earners, incomes grew 2.5 per cent. And since 2012, the bottom 40 per cent have seen after-tax incomes rise by 10.4 per cent, compared to 6.5 per cent for all Canadians, StatCan said. Watch: What you need to earn to join Canada’s “one per cent” club. Story continues below. StatCan’s “after-tax… Read More

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Meghan Markle Accused of Turning Prince Harry Against His Family

Here we go again. It seems that in the six weeks since Prince Harry and Meghan Markle announced that they would be stepping down as senior members of the royal family, not a day has gone by without some media outlet blaming Meghan for the whole ordeal. In all likelihood, the decision was made jointly, and while it’s true that Meghan took the brunt of the bullying from the British tabloid media, insiders have indicated that the Harry’s trauma over Princess Diana’s death — and the role the paparazzi played in her passing — is ultimately what spurred the Sussexes to take action. For several weeks, the couple’s future remained… Read More

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