Q&A

Tom Samuelson

Metabolic diseases such as Type 2 diabetes can be expensive for employers to cover, especially if employees are prescribed GLP-1s, which can cost $1,000 to $1,500 per person per month. Startup Twin Health aims to change that. Its technology, offered to employers, uses a combination of AI and wearable devices that track metrics such as blood sugar, weight, and activity levels to create “digital twins” of employees with metabolic conditions. Employees receive health coaching and can view meal recommendations and health data on an app.

A Cleveland Clinic study found that, over one year, 71% of diabetics using Twin Health were able to lower their blood sugar. The percentage using GLP-1s dropped from 41% to 6%.

Twin Health, founded in 2018, has nearly 200 companies as customers, including giants like Blackstone and Walmart. A Series E round last year brought in $53 million, taking the company’s valuation to $950 million. But its business model rests on a proposition more closely associated with law firms than health care startups: In some cases, Twin Health doesn’t get paid unless employees enrolled in the program reach certain benchmarks, such as lower weight or blood sugar, or using fewer medications.

We spoke with Tom Samuelson, who joined Twin Health as VP of finance and strategy in 2021 and became CFO in February 2025, to hear more about the company’s business model and how the finance function has changed as the company matures.

Twin Health’s CFO on how the company is applying AI in forecasting.—CV

      

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EARNINGS

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Hey, let’s not forget the little guys! And by “little guys” we mean Tesla. We don’t make the rules: When one of your companies sets the tone for the entire IPO market, we get to call your EV company one of the little guys.

And right now, Tesla’s looking like the little engine that could…n’t quite.

The company reported weaker-than-expected earnings for Q2 2026, with free cash flow dropping for the first time in over two years, per the Wall Street Journal.

Ahead of its most recent earnings report, released July 22, Tesla had been in something of a stock price nosedive, dropping 11% in July and 17% for the year as of the June 21 close, according to CNBC.

Like anyone with a star sibling, Tesla’s been suffering from some unfair comparisons. “The stock is increasingly being valued on robotaxi and humanoid developments rather than core auto fundamentals—with a potential SpaceX acquisition adding a premium to our valuation,” Tom Narayan, global autos lead equity analyst at RBC Capital Markets, wrote, per Axios.

Capex on robotaxis and humanoid robots to hit $25 billion, Tesla says.—NP

      

JOB MARKET

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The Department of Labor released the June Job Openings and Labor Turnover Survey (JOLTS) data on August 4, and while the economy has shown signs of stress for months, turnover has remained largely unchanged.

HR Brew caught up with Nicole Bachaud, labor economist at ZipRecruiter, to break down the latest numbers.

The data. The total number of job openings remained largely unchanged at 7.4 million, and hires were unchanged at 5.3 million. Certain sectors, including the normally robust healthcare and tech sectors, showed signs of timid movement.

“We’re seeing a little bit of balancing going on,” Bachaud told HR Brew, noting that job openings dwindled from their peak three months ago. “Employers are catching up to actually execute on some of these openings that they had going out.”

Bachaud said that this movement could signal “more stability” ahead for job openings.

The healthcare industry accounted for 83% of the jobs lost last month, HR Brew reports.—KP

      

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market forces

Francis Scialabba

Today’s top finance reads.

Stat: $10 billion. That’s how much Anthropic invested for compute capacity in a Norway data center owned by Volta Infra Holdings, an Nvidia-backed cloud infrastructure startup. (Bloomberg)

Quote: “In the enterprise context, people sign up for token self-pleasuring, and that at a real cost, like other forms of self-pleasuring, where you are paying for the right for them to migrate your IP, your know-how, your expertise to their model, so that they can build a competitive business that doesn’t require your business, your people.”—Alex Karp, Palantir CEO (Seeking Alpha)

Read: Why Treasury Secretary Scott Bessent wants to halt the slide of Japan’s yen via a Covid-era lending program. (Wall Street Journal)

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Francis Scialabba

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