Mark Cuban has been actively commenting in Saurabh Jha’s THCB post about him. We thought this comment was worthy of being a standalone post (and he agreed)–Matthew Holt
The tech sector will leave people better off at a lower cost. Moore’s law will have its day. But we are 5 years off from minimal impact. 10 years off from Marginal Impact.
In 20 years we will all look back and think 2015 was a barbaric year of discovery.
To give perspective. We pioneered the Streaming Industry TWENTY YEARS AGO. And now we are finally seeing streaming becoming mainstream as a technology but it still cant scale to handle mega live events.
HealthTech will continue to move forward quickly with lots of small wins. It will slow down when there is an inevitable recession in the next 20 years, then jump again afterwards.
In 30 years our kids/grandkids will ask if its true that there were drugstores where we all bought the same medications , no personalization at all, and there were warnings that the buyer may be the one unlucky schmuck that dies from what used to be called over the counter medication.
We will have to admit that while unfortunate it was true. Which is why “one dose fits all ” medications were outlawed in 2040 🙂
By then hopefully we will have a far better grasp on this math equation we call our bodies.
Of course it will be long before then that we make decisions based on optimizing health rather than trying to reduce risk.
The biggest challenge will be training health care professionals.
Medicine today seems to be in that 1980s phase that tech went through where no one got fired for hiring IBM. So IBM got lots of business because it was the safe choice rather than the best choice.
As best i can tell from my involvement in funding a single study on HGH for injury recovery (just getting started), becoming well versed on performance enhancing drugs and from the feedback on the blood capture and testing discussions, doctors are rightfully fearful of messing with people’s lives , so they make the IBM type decisions that “no one got fired for” or they dont get sued for. (Again, just my observations).
This may not be the best process for those who can invest in what they hope are the best minds. But its an understandable process when the funnel of people healthcare professionals have to see stays full continuously .
Which is why I think part of the market and government response will be to increase the number of healthcare professionals.
We need 3x (or some multiple, this is a guess ) as many doctors as we have today so that the amount of time spent per patient can increase to better understand and use the dramatic increase in data we will see.
Anyone have any good ideas on how to train 3x more doctors annually, with better quality at a lower cost ?
IMHO, thats the holy grail.
Mark Cuban is an entrepreneur, investor, owner of the Dallas Mavericks of the National Basketball Association and a participant on Shark Tank.