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I really wish that all markets worked like that. When they work, markets are an amazing mechanism for pricing, driving value creation, allocating capital, and s

I really wish that all markets worked like that. When they work, markets are an amazing mechanism for pricing, driving value creation, allocating capital, and searching the economic and technological solution space. But they don't work like this all the time, for all goods. Tetraethyl lead, which quite probably caused material long-term harm to entire generations, is gone because the bureaucrats banned it. The free market would never have phased it out organically in a reasonable time-frame, we know this because it didn't. The market participants fought for its continued use and obfuscated the issues to their advantage. GlacierMD was explicitly an attempt to filter, aggregate and make available high-quality health-care information (i.e. improve the quality of the signal, which is necessary for efficient market functioning), and it did not find a value proposition in the market.

wayoutthere 7y ago
> GlacierMD was explicitly an attempt to filter, aggregate and make available high-quality health-care information (i.e. improve the quality of the signal, which is necessary for efficient market functioning), and it did not find a value proposition in the market. Except it doesn't -- what GlacierMD was trying to do is something that's currently done by humans at scale. Which he would have known if he understood the market better. This is a centralized function that is performed much higher up the chain and ends up in clinician / patient hands in the form of clinical guidelines. This is maybe a useful tool for researchers to be used as one input in the development of clinical guidelines. But the functionality it delivers can be done manually (and will continue to be for liability reasons). In this case, the market worked. The author should be thankful he was able to get out of it only $40k in the hole.
achillesheels 7y ago
I’m not trying to be divisive, but allow me to counter that all markets need consumer advocacy. High fructose corn syrup has been substituted in certain soft drinks now because of the diligence of consumer activism. I take it as a mathematical certainty that bureaucrats take longer to respond than the fluidity of market economics. I just find it appalling I can’t order my methotrexate medication without having to physically see a rheumatologist, with the man-hours to get that script embarrassing for a digital society.

wayoutthere 7y ago

> GlacierMD was explicitly an attempt to filter, aggregate and make available high-quality health-care information (i.e. improve the quality of the signal, which is necessary for efficient market functioning), and it did not find a value proposition in the market. Except it doesn't -- what GlacierMD was trying to do is something that's currently done by humans at scale. Which he would have known if he understood the market better. This is a centralized function that is performed much higher up the chain and ends up in clinician / patient hands in the form of clinical guidelines. This is maybe a useful tool for researchers to be used as one input in the development of clinical guidelines. But the functionality it delivers can be done manually (and will continue to be for liability reasons). In this case, the market worked. The author should be thankful he was able to get out of it only $40k in the hole.

achillesheels 7y ago

I’m not trying to be divisive, but allow me to counter that all markets need consumer advocacy. High fructose corn syrup has been substituted in certain soft drinks now because of the diligence of consumer activism. I take it as a mathematical certainty that bureaucrats take longer to respond than the fluidity of market economics. I just find it appalling I can’t order my methotrexate medication without having to physically see a rheumatologist, with the man-hours to get that script embarrassing for a digital society.