> Years operating: 2018-2021
> Business: Health care
Amazon, in collaboration with Berkshire Hathaway and JPMorgan Chase, attempted to offer an alternative to the often confusing and inconsistent coverage offered by the various private health insurers in this country. Haven, which was marketed as “simplified, high-quality, and transparent health care at a reasonable cost” did not catch on. A Harvard Business Review report on Haven’s demise points to the timing of the COVID-19 pandemic as a major factor in the health care company’s failure to survive more than three years.
> Years operating: 2019-
> Business: EVs
Amazon’s most recent major failed investment, Rivian, is an electric vehicle company. It is also one of the main reasons Amazon reported an annual loss for the first time since 2014. Rivian has consistently struggled with supply chain problems, contributing to the EV maker’s stock price plummeting to a 52-week low earlier this year. With Amazon owning about 17% of Rivian, the investment cost the company $2.3 billion in the most recent quarter.
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