This Week - Feb 12, 2016

Cummings has been in Congress since 1996, and he is a firm believer in the power of government to improve industry through regulation. And yet now he was begging the former C.E.O. of a relatively minor pharmaceutical company to ‘change the system’? It seemed like an act of abdication. The Republican-led committee was no more impressive. As if to establish that Turing was unnecessarily profitable, the committee released documents showing that the company had thrown a lavish party—fireworks included—and given some executives six-figure raises. (If this now counts as corporate behavior worthy of oversight and reform, the committee may soon find its schedule overbooked.) And then there was John Mica, a Republican from Florida, who has vowed to ‘keep the government out of patients’ sick beds.’ Notwithstanding his skepticism of government intervention, he expressed alarm that some drug prices have “skyrocketed.” Even more than his colleagues, he seemed taken aback by the star witness’s recalcitrance, as if he couldn’t fathom why a private citizen wouldn’t be more deferential to his government—at one point, he threatened to move to hold Shkreli in contempt.

— Everyone Hates Martin Shkreli. Everyone Is Missing the Point - (Kelefa Sanneh for The New Yorker)

There are businesses out there with very deep pockets who view having a shop on that street as strictly brand building. There’s a lot of money to be made right now if you own property on Abbot Kinney.

— The Rise and Fall of Abbot Kinney, or, How Venice Is Dying (Dan Dunn for Thrillist)