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The emergency whisperer

In a city like New York, where the wail of sirens weaves into the urban hum alongside taxi horns and street chatter, the emergency response machinery feels

AI meets blockchain: A VC’s plan to redefine tech

Anthony Georgiades, general partner at Innovating Capital, navigates the world of venture capital with the intensity of someone peering into the future, tr

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Trump grants 90 day tariff reprieve

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The case for no-tax on tips

In the bustling restaurants of Brooklyn, the coffee shops of San Francisco, and the diners scattered throughout America’s heartland, there is an unspoken u

The market's fever: How Trump's Fed fight fuels volatility

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Harness Distracting Self-Talk

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The case for slashing drug prices

Last week, President Donald Trump enacted an executive order named “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients," aiming

The case for slashing drug prices

Last week, President Donald Trump enacted an executive order named “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients," aiming to align U.S. drug prices with the lowest rates other developed countries charge. This policy builds upon previous, unsuccessful attempts from Trump’s first term and has ignited heated debate. Supporters view it as a long-overdue adjustment to a system that has made Americans bear the brunt of global pharmaceutical costs. Conversely, critics — primarily from the pharmaceutical industry and its supporters — consider it a dangerous threat to innovation that may hinder the development of life-saving medications. As always, the truth lies in the balance between these extremes, but the argument for reducing drug prices in the U.S. is not just persuasive — it’s imperative, rooted in both economic justice and moral duty.The United States, with less than five percent of the global population, accounts for roughly three-quarters of worldwide pharmaceutical profits, a staggering imbalance that has persisted for decades. Americans pay, on average, nearly three times more for the same medications produced in the same factories as their counterparts in other wealthy nations. A study by the Kaiser Family Foundation found that the U.S. price for a 30-day supply of the diabetes drug Januvia was $614, compared to $76 in Canada and $64 in the United Kingdom. This disparity isn’t an accident; it results from a global pricing system in which foreign governments negotiate aggressively with drugmakers, leveraging their single-payer systems to secure deep discounts, while the fragmented and profit-driven U.S. market bears the brunt of research and development costs. As G. Dirk Mateer argues in RealClearMarkets, this setup effectively subsidizes innovation for the world at the expense of American patients, who are left to choose between crippling medical bills and forgoing essential treatments.The human cost of this system is incalculable. A 2023 study revealed that 26 percent of Americans with prescription drug coverage still skipped doses or split pills due to cost, a figure that rises to 43 percent among those with chronic conditions like diabetes or heart disease. These are not abstract statistics; they are stories of real people — retirees rationing insulin, parents cutting corners on asthma inhalers for their children, cancer patients weighing survival against bankruptcy. The New York Times reported on a retired schoolteacher in Ohio who, unable to afford her $1,200 monthly rheumatoid arthritis medication, resorted to buying generics from a Canadian pharmacy, risking legal repercussions and inconsistent supply. Such desperation is a damning indictment of a system that prioritizes corporate profits over human lives.The economic argument for lowering drug prices is equally robust. Mateer likens the U.S. government’s role as a massive purchaser of pharmaceuticals to that of a savvy corporate buyer like Walmart, which uses its market power to negotiate steep discounts. Yet, for decades, the federal government has failed to wield this leverage, leaving taxpayers and patients to foot inflated bills. The Congressional Budget Office estimated in 2024 that Medicare alone could save $100 billion over a decade by negotiating prices for just 20 high-cost drugs. As Trump's order proposes, extending such negotiations across federal programs and into the commercial market could yield savings in the hundreds of billions of dollars that could be redirected to infrastructure, education, or expanding healthcare access. AARP, in a statement praising the executive order, noted that “big drug companies have been ripping off America’s seniors,” forcing them to “skip medications they can’t afford.” Lower prices would not only alleviate this burden but also stimulate broader economic activity by freeing up disposable income for millions of households.Critics of the most-favored-nation policy, led by the Pharmaceutical Research and Manufacturers of America (PhRMA), argue that slashing U.S. prices would choke off the revenue needed for research and development, stifling innovation. It’s a familiar refrain echoed by industry leaders like PhRMA CEO Stephen Ubl, who called the policy a “bad deal for American patients” that would “jeopardize treatments and cures.” But this argument rests on shaky ground. A 2021 study by the National Bureau of Economic Research found that only about 15 percent of pharmaceutical revenue is reinvested in R&D, with the lion’s share going to marketing, stock buybacks, and executive compensation. Moreover, the U.S. government already funds a significant portion of early-stage drug research through the National Institutes of Health, which spends over $40 billion annually on biomedical research. As The New York Times noted in its May 2025 coverage, drugmakers’ claims of innovation at risk often obscure the fact that “the U.S. alone is not going to pay for innovation” when other nations could contribute more equitably to global R&D costs.Skeptics also warn of unintended consequences, such as drugmakers withdrawing from lower-margin international markets or raising prices abroad to circumvent the most-favored-nation clause. Yet, this scenario assumes that pharmaceutical companies would willingly abandon profitable markets like Europe and Japan, a move that seems unlikely given their reliance on global revenue streams. Such withdrawals could increase domestic drug supply, a prospect that Trump reportedly welcomes. More critically, the threat of tariffs and import restrictions, as outlined in the executive order, gives the administration leverage to prevent such gaming of the system.The political optics of the policy are undeniable, particularly for a president whose populist rhetoric has long railed against elites fleecing ordinary Americans. Trump’s order, announced alongside Health and Human Services Secretary Robert F. Kennedy Jr., taps into a bipartisan well of frustration with Big Pharma’s unchecked power. Yet the policy’s success hinges on navigating a gauntlet of legal and practical challenges. Courts and industry lawsuits blocked Trump’s earlier attempts at most-favored-nation pricing in 2017 and 2020. Politico notes that the current order’s broad scope — extending beyond Medicare to include commercial markets potentially — may exceed executive authority without congressional backing. The Inflation Reduction Act of 2022, which empowered Medicare to negotiate prices for select drugs, offers a complementary tool, but its limited scope underscores the need for bolder action.For all its risks, the most-favored-nation policy represents a rare chance to rebalance a profoundly inequitable system. It’s not about punishing pharmaceutical companies; it’s about ensuring that Americans aren’t punished for their government’s failure to negotiate as fiercely as other nations do. The American Thinker framed it starkly: “If Germany pays $45 for a drug, we’re not paying $450.” This isn’t socialism, as critics claim; it’s basic fairness, the kind of hard-nosed dealmaking Trump has long championed. The alternative — preserving a status quo where Americans subsidize the world’s medicines while rationing their own — is not only unsustainable; it’s unconscionable.Lowering drug prices won’t solve every ill in America’s healthcare system, but it’s a critical step toward a future where no one has to choose between medicine and survival. The fight will be messy, with court battles and industry pushback inevitable. But the moral and economic case is clear: when the largest buyer in the world demands a better deal, it’s not just good business — it’s a lifeline for millions.

The emergency whisperer

In a city like New York, where the wail of sirens weaves into the urban hum alongside taxi horns and street chatter, the emergency response machinery feels both ever-present and unseen. We hear the ambulances and glimpse the flashing lights, but rarely pause to ponder the systems that drive them — or the minds behind those systems. Amir Elichai, founder and CEO of Carbyne, a company transforming emergency communications, is one such mind. In a recent interview with CEO.com, Elichai revealed the instincts and innovations fueling his mission: to ensure that a 911 call triggers not just a response, but one that’s swift, precise, and almost prescient. His story is one of grit, empathy, and an unshakable belief that technology can tame the chaos of crisis.Elichai began with a story that feels ripped from a screenplay. A decade ago, while strolling along a beach in Israel, he was robbed at knifepoint. Two men, a blade, the stark isolation of danger. He called for help, but the response was slow, fragmented. The police arrived too late, the robbers vanished. “I was frustrated,” he said, the memory still sharp. “There’s got to be a better way.” That frustration wasn’t fleeting; it birthed Carbyne, now a billion-dollar enterprise backed by giants like Founders Fund and Valor Equity Partners, serving emergency systems across 16 countries.Carbyne’s technology bridges the gap between a desperate call and the help it summons. The 911 system often relies on outdated infrastructure—analog lines and dispatchers taking notes by hand. Carbyne rewrites that narrative. Its cloud-native platform delivers GPS-accurate caller locations, streams live video from the scene, and gathers data like medical records or building schematics in real time. Imagine a dispatcher not just hearing a trembling voice but seeing the fire, the wound, or the threat through the caller’s phone. “It’s about giving the dispatcher superpowers,” Elichai said, a phrase that could sound hyperbolic but lands as urgent when you consider the alternative: a system blind to your whereabouts.What sets Elichai apart is not just his technical prowess but his near-philosophical grasp of an emergency’s weight. “When you call 911, it’s probably the worst day of your life,” he said. “You’re not calling because you’re having a great day.” This empathy drives Carbyne’s core. The platform doesn’t just chase faster response times; it seeks to ease the terror of those moments, making the system feel human, responsive, almost all-knowing. He shared a case where Carbyne’s video feed enabled a dispatcher to guide a caller through CPR, saving a life before paramedics arrived. It’s a story that could veer into boast, but Elichai delivers it with quiet conviction, as if it’s simply what the technology demands.His journey to this point has been circuitous. A former officer in Israel’s elite special forces and intelligence corps, Elichai carries the poise of someone who is well-versed in high-stakes choices. His military experience, he said, taught him to “run toward the fire,” a mindset that is as vital in entrepreneurship as it is in combat. After his service, he earned degrees in law and business, although he never practiced law. “Law is like the new BA,” he quipped, echoing a remark from an earlier interview with Alejandro Cremades. It’s a foundation for understanding the world’s rules before reshaping them. His first foray into investment banking shifted his path, but the robbery in Israel turned his gaze to public safety.Carbyne, initially named Reporty Homeland Security, sprang from that pivot in 2014. Its growth has been meteoric — 360% during the COVID-19 pandemic, Elichai noted, as governments raced to modernize emergency systems. With $128 million in funding, including a $56 million Series C round in 2022, the company’s trajectory reflects the urgency of its mission. Yet scaling at that pace brings its own challenges. Elichai described the slog of persuading governments to adopt new tech, a process he likened to pushing a boulder uphill. “Governments don’t move fast,” he said with a wry edge. “They need to trust you, and trust takes time.”Trust is a leitmotif in Elichai’s philosophy. He tackled head-on the privacy concerns that Carbyne’s capabilities — accessing locations, cameras, and data — can spark. “We’re not in the business of surveillance,” he said. “We’re in the business of saving lives.” Carbyne’s system is fortified with encryption, restricted access, and caller control, but Elichai doesn’t dodge the skepticism. In an era of eroded tech trust, Carbyne must be beyond reproach. “We have to be transparent,” he said. “People need to know we’re here to help, not to watch.”This dance between innovation and responsibility, speed and care, defines Elichai’s leadership. He shuns the spotlight, offering answers that are direct, unadorned, tethered to the problem at hand. Asked about his vision for the future, he didn’t paint a utopia free of emergencies. Instead, he spoke of “connected ecosystems,” where emergency services, hospitals, and even autonomous vehicles share data seamlessly. Imagine a crash where the ambulance knows your blood type en route, or a fire where drones map exits in real time. It’s bold yet grounded, already taking shape in Carbyne’s work.

AI meets blockchain: A VC’s plan to redefine tech

Anthony Georgiades, general partner at Innovating Capital, navigates the world of venture capital with the intensity of someone peering into the future, trying to discern which faint signals will evolve into the next big wave. At thirty-two, Georgiades is young for a VC, but his resume — stints at First Round Capital, operational roles at startups, and a dual degree in finance and computer science from the University of Pennsylvania — has earned him a reputation as a sharp-eyed investor in the volatile realms of Web3, cybersecurity, and enterprise infrastructure.In a recent interview with CEO.com, Georgiades illustrated his journey from a finance student with entrepreneurial ambitions to a key player in one of tech’s most dynamic sectors. The conversation, which encompassed his early failures and his current obsession with decentralized finance, revealed a mind that thrives on complexity and contradiction — a fitting trait for someone navigating the often bewildering landscape of emerging technologies.Georgiades’ path to Innovating Capital was circuitous. As a Wharton undergraduate, he launched a peer-to-peer marketplace that he describes as “a spectacular failure.” Technical glitches and poor market fit sank the venture, teaching him a lesson in humility. “I thought I knew everything, but I didn’t even know what I didn’t know,” he said. The experience pushed him to deepen his technical knowledge, pairing his finance studies with computer science courses. “I realized that to build something meaningful, I needed to understand the plumbing — the code, the systems, the architecture,” he said.This combination of financial insight and technical proficiency became his hallmark. After graduating, he joined First Round Capital, a firm known for its early investments in companies like Uber and Warby Parker. There, he honed his ability to identify promising founders and technologies but felt inclined towards the operational side. “I wanted to get my hands dirty,” he said. He left to join startups, tackling product development and go-to-market strategies — experiences that now inform his approach as an investor.At Innovating Capital, which he co-founded in 2020, Georgiades focuses on “disruptive investments.” The firm, with a portfolio that spans cybersecurity, enterprise infrastructure, and Web3, seeks out startups that are too early or unconventional for mainstream funds. One flagship project is Pastel Network, a blockchain-based platform for securing digital assets, which Georgiades co-founded. “Pastel is about giving creators and collectors confidence that their NFTs are protected,” he said, emphasizing infrastructure over hype.The interview lingered on Web3, the decentralized, blockchain-based internet that many see as the digital world’s next phase. Georgiades is optimistic but pragmatic. “Web3 is messy right now,” he admitted. “Meme coins drive speculative bubbles, and that noise can drown out real innovation.” He highlighted Solana and Injective Protocol, two innovative capital portfolio companies, as examples of platforms that solve tangible problems like scalability and transaction costs. “These are the bets that excite me — technologies that handle real-world use cases, not just fuel Twitter hype cycles,” he said.When asked about artificial intelligence’s role in Web3, Georgiades’ voice quickened. “AI is the rocket fuel,” he said. “It’ll supercharge decentralized systems — think smart contracts that adapt in real time or fraud detection that’s orders of magnitude better.” He pointed to Innovating Capital’s investments in AI-driven cybersecurity startups, including one using machine learning to detect blockchain vulnerabilities. “The future isn’t just Web3 or AI — it’s their interplay,” he said.Georgiades’ enthusiasm is tempered by skepticism of the “move fast and break things” ethos. “Speed matters, but so does thoughtfulness,” he said. “You can’t just throw money at a problem. You need to understand the market, the technology, and the people.” This philosophy shapes Innovating Capital’s hands-on approach, often guiding portfolio companies through strategy or regulatory challenges.Asked about the traits he seeks in founders, Georgiades was unequivocal: “Resilience is number one. The startup world is a rollercoaster, and you need people who can handle the lows without losing the vision.” Curiosity and adaptability also rank high, essential in a landscape where today’s breakthrough can become tomorrow’s footnote. “The best founders are always learning, always questioning,” he said. “They pivot when the data demands it.”As the interview closed, Georgiades reflected on those who gave him a chance. He mentioned a First Round mentor who saw potential despite his inexperience. “That guy took a bet on me,” he said. “I try to pay that forward by backing founders who might not have shiny pedigrees but have the grit and vision to build something extraordinary.”Georgiades’ story mirrors the tech ecosystem’s blend of ambition, failure, and reinvention. He operates in a high-stakes, uncertain world, yet his enthusiasm for technology’s possibilities is contagious. His parting thought lingered like a challenge: “We’re at the cusp of a new digital frontier, and the question isn’t whether it’s coming — it’s whether we’re ready to shape it.”