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Silicon Valley Is Too Focused On Taking the Easy Path in Health Care (cnbc.com)
Silicon Valley investors are increasingly looking at health space, but they are mostly eyeing for opportunities on the fringes of the traditional health care system to avoid long and complicated regulatory cycles, an analysis on CNBC shows. As a result of this, these start-ups will not help low-income and chronically ill patients who need innovation most. From the article: Founders often talk about about how challenging it can be to break into the multi-trillion dollar medical sector. Health care startups face regulatory hurdles, long sales cycles and a high burden of proof -- and that means it can take more than a decade to make a return. As a result, many venture-backed entrepreneurs are looking instead at opportunities on the fringes of the health care system, such as cash-only health services that don't require insurance or tests and apps that aren't regulated by the U.S. Food and Drug Administration. For tech investors, these opportunities hold the chance of an outsized return in five years or less. That often valuations on par with consumer Internet start-ups. [...] Many entrepreneurs acknowledge this, but justify their approach by promising to focus on more at-risk groups once they've nailed the product.
Maybe it's tech innovation that's plaguing the poor? Primitive societies did not suffer from chronic diseases of civilization, and were usually healthier and long lived.
- do you really believe this?
Primitive societies didn't suffer from chronic diseases? How do you know that and another point, to suffer from a chronic disease you need to have a large majority of the population survive to the age that allows you to get a chronic disease. If only the strongest make it to the age of 50 and above then you will have fewer chronic diseases in the older population compared to societies that allow just about anybody to reach that age.
Sure, the primitive societies didn't have people suffer from diabetes and diseases related to prolonged sitting in a chair.... So if we are sitting in chairs for long periods of time because of technology (we are) then yes, the primitive societies didn't have that problem.
You can't handle the truth.
It's not so much regulations. Health care needs regulations. It's that US regulators are notoriously bad at it. My friends in the medical device business do most of their work in places like Germany and other Northern European countries because the regulators are strict, but they do their jobs predictably and in a timely manner. They shun the US because the regulators are sloppier and everything takes forever in the US.
I'm not sure where you get that idea from. Infant mortality rate was through the roof in primitive societies and as soon as humans moved from nomadic tribes and started building cities, the chronic diseases of civilization became widespread. Up until recently, diseases such as cholera, polio, small pox, measles, etc. were extremely common and were only made rare or eradicated through innovation. Sure back in primitive societies, if you didn't die early in your life you could certainly live to be 80 and I'll grant that people were on the whole healthier because almost all work involved physical labor and even if you had the equivalent of an office job, you still needed to walk to work. However, the chances of any person actually living to 80 was far, far lower. If the various diseases and lack of treatment didn't kill you, invading neighbors would probably do it quite well. So unless you're proposing we abandon civilization and go back to hunter-gatherer groups, your assertion is just wrong.
Tech innovation has done more for the poor having healthcare than anything else. Even safety nets can't provide services to everyone that haven't been invented or are incredibly costly. Just look at the positive outcomes of Golden Rice in ensuring that some of the world's poorest don't suffer from conditions due to vitamin A deficiency.
If you don't think its fast enough, you are free to start your own company to rectify the situation. Or is everything just someone else's problem?