But why isn’t the company devoting more of its innovation firepower to the wildly inefficient U.S. health care industry, which hogs about 18% of GDP? Brin explained:
Generally, health is just so heavily regulated. It’s just a painful business to be in. It’s just not necessarily how I want to spend my time. Even though we do have some health projects, and we’ll be doing that to a certain extent. But I think the regulatory burden in the U.S. is so high that think it would dissuade a lot of entrepreneurs.
They go on to speculate that if researchers could data mine electronic medical records tens of thousands of lives could be saved. However privacy concerns and HIPAA specifically prevents that. This goes back to my big topic, “Who Owns the Data”?
Google is famous for gathering data about us and then using that data in marketing or other lifestyle applications. That is what has made it a 392 billion dollar company. It is also more than a little creepy when Google starts advertising items to you that you just searched for or knows where you work based in your driving habits.
It is that creepy factor that scares people about their personal medical data.
Another factor has to be hacks at big time marketers like Target and Adobe not to mention the NSA debacle. People do not believe (with some justification) that their data will remain secret.
Finally Page speculates that as regulations continue to grow that government will eventually collapse under its own weight.
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