Jason Wallace

Posts are not advice.

[Jason Wallace @J21Wallace]

@OpenAIDevs @work_louder Breaking News: Apple to bring back TouchBar in next macbook refresh.

[Mark Cuban @mcuban]

What about all the entrepreneurs that risked everything and failed ?

Or the ones that are grinding it out, trying to build a business ? You know, the ones that create more than 60 pct of the new jobs in this country.

The more successful they are, the more you hate them?

Take their money so they can't invest in other founders? Or invest in causes they believe in ?

And the ones that fail and get to deduct 3k a year of their losses ? Or went for it and are broke and might never see enough income to offset those losses ? You don't care if they go broke ?

10 pct of the people in this country are entrepreneurs that have started a business.

You ever try to help them ?

There are plenty of discussions to be had about income inequality. About helping people who are struggling economically.

I've talked about a lot of them in my timeline.

But in reality, saying "Eat the rich" will end up helping no one except maybe politicians trying to raise money. And probably hurt those in need, as more money is spent playing politics then helping

Wealth tax. Unearned income tax. Show me the multi year behavioral analysis, as opposed to simple models, that show more jobs, higher wages and personal wealth will be created for those who need it. I'd love to read them

Ideology is not a strategy. Nor is it a plan that has lasting impact on people who need help

And so you know.
I'm not a believer in trickle down. It's a joke.

I am a believer in trickle up. Where we do all we can get to get appreciable assets and higher wages into the hands of people who have to live paycheck to paycheck. I've said before I think raising the federal minimum wage to $20 is smart. When I heard people who worked for a company I invested in (but didn't run) needed government assistance, I made sure they all got raises. It was embarrassing to me that we didn't pay enough. I've made, or helped make, at least a thousand millionaires. And I'll keep working to increase that number

And that's the point.

The best path to help more people is to work with the people that can help more people.

If you demonize business people , you just make it harder for them to help anyone.

I'm not saying there aren't greedy, blood sucking business people that will do anything for a dollar.

But they are a small minority. Most entrepreneurs realize they are blessed. They want to find ways to help. They think they can use the same skills that built their business to help people.

And they can. They can hire more. They can give raises. They can educate. And they do all these things to help.

I've sat with Democrats and Republicans, incumbents and candidates,and asked them why they aren't meeting with businesses that make and sell the products that have become unaffordable, and asking them what can be done to reduce prices.

I do this continuously regarding healthcare. It's easy to see where the friction and increased pricing is coming from. Why (the politicians ) aren't you meeting with them and asking them to change ? Offering to support those that do raise wages, lower prices , improve benefits. Politicians just won't do it. They prefer the donations.

I did shark tank for 15 years purely to show people they can start small, grow their businesses, and help not only themselves, but their employees and their communities as well. And thats exactly what has happened.

Demonizing those that have success is counterproductive to every benefit you want to help bring to people.

[Mike Nicoletti @mikenicoletti]

Bogumil Baranowski (@bogumil_nyc) had me on Talking Billions — an hour he titled "Sailboats, Telltales, Roads & Motorcycles."

We got into how Top Mark Capital actually started: I was prepping a boat for an offshore race and noticed a group in a back room reading 10-Ks. The introduction out of that room became the firm and the podcast.

The lesson wasn't "follow your passion." It was narrower: opportunities compound through people, and people compound by doing new things together.

https://t.co/G3dJDqwfJo

[Jason Wallace @J21Wallace]

@pmarca The SPCX S-1 says you can design and build a spaceship for just $15b.

[Mike Nicoletti @mikenicoletti]

Branded drug prices fell in the US in 2025. First time in decades.

Not because PBMs negotiated harder. Because manufacturers built direct cash channels around them. Lilly Direct on Zepbound. NovoCare Pharmacy Direct on Wegovy at $499/mo flat. PfizerForAll. BMS-Pfizer on Eliquis. Harrow on VEVYE at $59 through AccessForAll.

When a commercially-insured patient opts out into a manufacturer cash channel, the PBM loses more per script than the manufacturer does. Every branded manufacturer with credible cash demand now has a real BATNA against rebate compression.

PBMs see it. Cigna announced "rebate-free" commercial PBM for 2027. Optum Rx and CVS Caremark followed with cost-plus reimbursement models. Not customer-experience improvements. The PBM oligopoly conceding the rebate-spread model before being forced off it.

Government is on the same side. TrumpRX is being built as a state-backed manufacturer-direct platform. The Cigna FTC insulin settlement requires Cigna to count TrumpRX purchases toward patient deductibles.

The endgame falls out from first principles. The PBM model has three legs: rebate negotiation, formulary control, adjudication. Manufacturer-direct erodes leg one. Cash-pay erodes leg two. Only adjudication is hard to replicate.

PBMs end up as utilities. Adjudication and claims for the chronic and generic book at utility margins. Branded specialty, GLP-1, and lifestyle bifurcates to manufacturer-direct. Cigna's 2027 commercial roll-out is the timeline. A 2026-2028 inflection, not a five-year story.

Compressed: CVS Health, UnitedHealth, Cigna in the pharmacy benefit segment. Conglomerate cover masks it at the parent level. Beneficiaries: manufacturers with credible cash channels live today, and the DTC enablement layer. The swing variable is refill persistence on the new direct channels.

[Jason Wallace @J21Wallace]

@JeffBezos 2028?

[Jason Wallace @J21Wallace]

@fitnessfeelingz Ironically, this election cycle is the first time I was not mailed EXTRA ballots.

[Jason Wallace @J21Wallace]

@Michigan_Value There was also a large snowstorm on the east coast that week, likely cancelled appts.

[Jason Wallace @J21Wallace]

@WallStreetApes Who owns the building? Who holds the debt on it? Wonder what the loan agreement says about facilitating criminal activity.

[Jason Wallace @J21Wallace]

@ns123abc The opposite, this would be amazing for the pharma industry, much longer time with drugs on patent.

[Jason Wallace @J21Wallace]

@WallStreetApes this wasn't common knowledge?

[Jason Wallace @J21Wallace]

@amuse Is this the new 'swatting'?

[Jason Wallace @J21Wallace]

@ScottPresler This is 1000% happening, I received 4 ballots last election cycle.

[Jason Wallace @J21Wallace]

@CollinRugg SD is broke. The mayor wastes money on nonsense. Look up how they changed meter rates to $10/hr to shore up their budget grift.
Waymo can’t come soon enough.

[Jason Wallace @J21Wallace]

@RichardPBailey_ Theft. It's called theft.

[Jason Wallace @J21Wallace]

@SemiAnalysis_ I'm team @HaasF1Team Dylan!!

[Jason Wallace @J21Wallace]

@brl11 Absolutely agree that AI token generation will be a commodity business. Commentary has been this is the first software that is a commodity, but cloud infrastructure always has been. It's a race to the bottom where GPUs instances are the anomaly (so far).

[Based Jessica @RealJessica]

Pharmacist explains why our healthcare medication prices are insane:

The cancer medicine Imatinib costs him $7 to buy. They add $10, so you're out the door for $17. However, when Medicare pays for this drug, it costs the govt $2,400. This drug was filled 250,000 times in 1 year costing Medicare $600 million

“If every one of those scripts was filled at our pharmacy instead of through Medicare, it would've cost $4 million. That means that we are $596 million cheaper than the insurance. That's crazy.”

“So why are they paying this much for that medication? Well, insurance companies pay a middleman, the pharmacy benefits manager, and that person decides how much that medication's gonna cost”

3 Pharmacy Benefits Managers control over 90% of all prescription pricing in America. Pharmaceutical companies bought all 3 Pharmacy Benefits Managers

They have rigged the system. Now Big Pharma is able to set their own prices.

[Jason Wallace @J21Wallace]

@TheChiefNerd Wait so instead of $16 beers in SF, I can do a bar crawl through hotel lobbies for free?!

[Jason Wallace @J21Wallace]

@mvcinvesting So digging in, the FDA observations were from April 2024. With those findings the company would have had to create CAPAs and the FDA would follow up on those. Since there is no add'l FDA action, I'm inclined to think this is CA closing a budget gap.