Haven, the venture to disrupt U.S. health care formed by Amazon, Berkshire Hathaway, and JPMorgan Chase, is disbanding less than three years after its launch. When it was formed, the three companies had a lofty goal: to “provide U.S. employees and their families with simplified, high-quality, and transparent health care at a reasonable cost.” Atul Gawande, the famous author and surgeon, was hired as CEO, and Jack Stoddard, who served as general manager for digital health at Comcast, took the COO job. What transpired next was a slow drain of talent. Stoddard left only nine months after being hired, and Gawande departed a year later.
Despite the companies’ combined 1.2 million U.S. employees and incredible market power, it just didn’t happen. Why? There are three factors: