Tech Report: Amazon buys One Medical

The FTC shares concerns about the purchase

Amazon has closed its nearly 4 billion dollar buyout of one medical after the FTC declined to legally challenge the deal.
However, the agency will continue to investigate factors such as whether amazon would misuse patients’ personal information.

Amazon has closed its nearly 4 billion dollar buyout of One Medical. The FTC declined to legally challenge the deal, allowing it to go through. However, the agency is not without concerns as Amazon will now have access to One Medical’s patient records. The FTC says it will continue to investigate potential misuse of personal information. While the retail giant has been investing in virtual healthcare for years, this marks a step into physical clinics. Amazon’s One Medical purchase will “substantially” expand its healthcare services.

Spotify announced a new AI feature called “DJ”. The feature is designed to better personalize the music listening experience for its users. Similar to a radio dj, Spotify’s DJ feature will deliver a curated selection of music. Listeners will also hear AI-powered spoken commentary about the tracks and artists you like, using what Spotify says is a “stunningly realistic voice.”

The online retailer Overstock reported a surprising fourth-quarter loss. Overstock has been grappling with macro challenges in retail while tackling a rebrand. The company says it’s getting rid of non-home merchandise and is boosting its mobile app.

More and more companies are offering monthly subscriptions. Shoppers are becoming overwhelmed by the sheer number of subscription services and are now reporting subscription fatigue. This feeling among consumers is likely to grow over the next few years. According to IBM, the global subscription service market is set to more that double. This increase will happen between 2020 and 2026, jumping from $5.1 billion to $12.5 billion.

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