The latest on Amazon, Berkshire & JPMorgan's healthcare company

The source also tells Axios that several media outlets misread the original announcement, which said the independent company would be "free from profit-making incentives and constraints." This does not mean that the company will be a non-profit, as some reported. Instead, it simply won't focus on realizing profits — plowing excess cash back into the company (much like Amazon has been known to do).

• This profit issue has exposed some cultural fissures between the co-founding partners, as both Berkshire and JPM are said to have struggled a bit to internalize the not-for-profit concept.

While the venture will initially focus on health care coverage for employees of the founding companies, all intentions are to expand to other large enterprises.