I think that's very dismissive of the importance rebates play. The PBMs' defensibility comes almost entirely from their ability to use their scale to drive up branded/specialty medication costs up by demanding larger and larger rebates from pharma. In terms of revenue, branded and specialty meds already make up more than 75% of the market today. They are the real problem here, not generics.
Why should a company offer a market rate salary and equity if the equity is valued at 0? Should companies just not offer equity in that case? Seems like a waste if it is not valued at all.
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How about the dairy from milk cow? Does that matter for these types of stats?
Did a quick google search, and if the cow produced 2500gal of milk per year for 5 years before becoming meat, and the cow produced about 400lb of meat, then you end up with 1lb of beef + 30 gallons of milk for the amount of water the article states.