CW 436: Personalized Medicine of the Future with Patrick Cox - Transformational Medical Technology Editor with Mauldin Economics

Welcome to Creating wealth with Jason Hartman. During this program, Jason is going to tell you some really exciting things that you probably haven't thought of before. And a new slant on investing fresh new approaches to America's best investment that will enable you to create more wealth and happiness than you ever thought possible. Jason is a genuine, self made multimillionaire who not only talks the talk, but walks the walk. He's been a successful investor for 20 years and currently owns properties in 11 states and South 17 cities. This program will help you follow in Jason's footsteps on the road to financial freedom. You really can do it. And now here's your host, Jason Hartman with the complete solution for real estate investors.

Welcome to the Creating wealth show. This is your host, Jason Hartman. And this is episode number 436. 436. Thank you so much for joining me today. And I know it may sound kind of ridiculous lately, but I have been.

Traveling around quite a bit and today.

I am talking to you from Puerto Vallarta, Mexico. I am at a conference down here and it's, it's been an interesting one. This is my second conference with this group and today I saw the great Lisa Nichols again. And yesterday I went to one of her breakout sessions and she is just a very powerful speaker. I'm sure many of you have heard of her. She's been on Oprah and written several books. Today it was funny because she said she doesn't write books, she only writes bestsellers.

That was pretty cool and cocky the way she said that.

I liked it. Anyway, yeah. Today our guest will be Patrick Cox, who is the head of the Transformational Technology division or newsletter with Malden Economics.

You've heard John Malden on the show.

Before and Patrick will be talking about some really interesting stuff with us today. But before we get to that, of course I want to talk to you about a few things myself. Number one, I guess since I'm at another conference, I know I've got like one more before the end of the year. And I am so tired of traveling, I cannot even tell you. I think this year I have spent less time in my own bed than ever before.

No, that's not like how it sounds. It's just that I've been, I've been at all these conferences and traveling and.

Really trying to learn more stuff and just kind of seeking some additional inspiration in my life. And I can't tell you how important that is. Just the idea of masterminding with people, I think that is really a critical thing and I'm exploring the idea of doing a mastermind group. And I've gotten some great feedback from you, our listeners on that and I appreciate that. So, you know, kind of working on that idea, more to come on that. But one thing that did reach fruition today in my email box, and that is our Meet the Masters event. Yes, it is official. We are on for the second weekend of January at Hotel Irvine. The newly remodeled Hotel Irvine that used to be the Hyatt Regency Irvine that will be in early January. So I don't know if that is actually on the website yet. I asked Brittany to put it up there for us today, but it may not be on there by the time you listen to this. I'm not sure Meet the Masters will be coming up. You can register for that when it's posted on the site@jason hartman.com I am recording this on Thursday, November 6th. And by the way, that was quite an election we just had, wasn't it? Wow. Seems like a pretty strong message to the big government people that the voters didn't like that too much. So we're opting for a different plan. So I was kind of glad to see that. So, pretty strong election we just had. Yeah, we'll probably have that up here in a couple of days. It may be tomorrow by the time you listen to this, this intro of podcast that we will have that. One of the things that Lisa Nichols said today that I thought was really good, she was talking about how our goals and convenience do not live on the same block.

And that's the metaphor she used and.

I really liked it. She said conviction, which is the conviction you need to have about your plans in life, about your goals. Conviction and convenience do not live on the same block. They are not even in the same zip code. So you've got to completely separate yourself from the idea of convenience. And you know, it made me think about our real estate investor clients and when they will occasionally reach a bump in the road and something will go wrong and they'll get all muddled by.

It and think, oh my gosh, this isn't for me.

It doesn't work well. The fact is, folks, you know that it has worked for tens of millions of people before you and it works incredibly well. It works so well that it is what I call the most historically proven asset class in American history, if not all world history, real estate, income, property. It is the thing to do. One of the things that Lisa Nichols was talking about today is how when she was earning only $31,000 a year, basically Right at the poverty line, living in South Central la. I grew up in la, so I.

Understand where that is.

That's not a good neighborhood.

Not that the neighborhood I grew up in was much better, but it was.

A little bit better.

Mar Vista, Culver City is where I grew up.

And then West Los Angeles, when mom.

Bought her first house, the one she still owns, that I've talked to you about many times over the years.

You know, just how she would have to pick new friends and how she would have to distance herself from even what the closest people in her life were saying, how she would have to distance herself from the chatter of her own family. And you know, that's really true. If you've got plans to grow your real estate portfolio and to do great things, you know, maybe you want to do something incredible and you want to become a big real estate mogul, or maybe you just want to purchase a dozen properties and have some extra passive income and create some nice wealth for yourself through my refi till you die plan. So we all have different goals, and some are big and some are small and some are in between somewhere. And that's fine. Everybody's got different goals. Totally fine.

You know, whatever your goals and plans.

Are, that is fine. But you are bound to encounter some resistance and criticism from the people in your life as you are on your path. And one of the things I noticed is I think back to the friends I had when I was in high school, when I was in college, and as I really started to become successful, buying my first income property at age 20, selling real estate as a realtor part time, starting in my first year of college, and then later, by the time I was 24, becoming one of the top 100 ReMax agents in the world at age 24. I was actually number 59 back then when I was 24 years old and I was earning a lot of money. And, you know, I just kind of noticed how the friends that I used to have or still sort of had at that time, and it's just part of human nature. I'm not faulting them for it or faulting anybody for it. Look, I've been guilty of it too. People get envious, you know, we all have that within us and it's certainly not our highest and best trait. Right. But there's some of that in all of us. Okay. One of the things that I think is really important to becoming successful in life, regardless of what field we're in it, is managing these tendencies, these sort of darker or lesser sides of our Psyche and our personality and ourselves and managing them. So what is your internal self talk when you see or know of someone becoming successful when they have a windfall in their life? Okay, do you have a tinge of envy, a tinge of jealousy in there? Well, whatever your reaction is to that, or if you're truly just happy for them, as long as they're doing it ethically and honestly.

And that's. That's a whole different discussion not for today's episode.

As long as they're doing it ethically and honestly and they're really serving people and they're really doing something for the world when someone else succeeds, what goes through your head? And do you have some jealousy? Do you have some envy? Well, the better you can manage that and the more genuinely happy that you can be for that other person, the greater will be your own success. And this comes back to really the concept of gratitude. And one of the things that one of the other speakers talked about today is how people who wrote down something every day for a month that they were grateful for at the end of that month, they found, and this is in, you know, one study, I think it was a Harvard University study, actually, they found that those people were a good 25% happier than they were the prior month by just listing things that they were grateful for. And this is. This is part of it. You know, you can't get more in life until you're grateful for what you have. And we all have certain things, and we all should be grateful for those things. Okay? So, you know, like I've talked about before on prior episodes, how many of us are grateful when our real estate portfolio is doing well, not when we're making some big gain, but just when the little things happen. We're grateful for the little things. Hey, I'm grateful. My. You know, I looked in my email today. It's November 6th, right? I looked in my email and I got a statement from one of my property managers saying that the tenant paid the rent and the check has cleared. Is there a real feeling of gratitude for that?

It's not like you need to be jumping for joy or telling everybody, right?

But just being grateful even for those little things, right? One of the things I thought of is that old quote by Dale Carnegie, and it's a great quote. Dale Carnegie has so many. And of course, you know, he wrote that classic book, how to Win Friends and Influence People, which I read many, many years ago. I think my mom gave me that book when I was like 17 years old. And it was Fantastic. It's a great book. Okay.

You know, definitely old fashioned by today's standards.

And maybe they ought to update it, the Carnegie Foundation. But it's a great. When you think of this concept of jealousy and envy, whether it applies to you and other people around you being jealous, you know, say you've purchased your first property or you've purchased your 10th or your 20th property. And you know, you talk to your friends about it, you talk to your family about it, you talk to the people in your life about it. What is their reaction? You know, are they jealous? Are they envious? Well, you've got to manage your own state when they get that way with you. And similarly, you've got to manage that state in your own mind when someone else has a success. Okay, so here's a good quote for you to help manage that on both sides of the equation. Dale Carnegie said, unjust criticism is usually a disguised compliment. It often means that you have aroused jealousy and envy. Remember that no one ever kicks a dead dog.

You know, kind of an old fashioned saying there, but really a good one.

Right. And so keep that in mind to keep your. Your focus on your plans, your goals, your investments, your properties, your real estate portfolio, and make sure it is doing well. Okay. And that your mental state is doing well with managing all of that. Now, our Birmingham property tour is coming up. We got, I think, two more registrations today for that. So please be sure to join us. And then also plan some travel for yourself. If you're traveling to these, which many of you probably are, most people travel to these things.

Some live nearby occasionally.

But the vast majority of our audiences travel for our events. And the Meet the Masters of Income property investing coming up in January. This is our biggest event. I'm gonna say this is probably the 15th or the 16th meet the Masters event that I've done. And it is a great event. It's all day Saturday, all day Sunday, and it's the second weekend of January. What is that? I think it's the 10th and the 11th, I believe. I don't have the dates in front of me. This is a great event. We're gonna have an all star lineup of speakers. And these are the real world speakers. You know, these are the people who are in the trenches every day doing it. Whether it be attorney who's speaking on asset protection and legal advice and how to structure your investing in your portfolio and all of that. Whether it's a CPA who's talking about the best tax strategies, whether it's a property manager from one of our markets that flew out to talk to you about best practices in property management. There will be many of our local market specialists there who will be talking about all of their different areas and what makes them unique. This is the chance for you to meet these people in person, shake their hand, look them in the eye, hear about the properties they have, hear about the investments they have, and to meet all of our other clients who will be there who have been investing with us, some of them for years, some of them will be new and you'll just get a sense, you know, you can have conversations with them and you can talk to them and get the real world experience. We'll have some lenders there that will talk about things that are going on in the banking and the lending climate and how you can get, you know, the best financing for your income properties and a whole bunch of great stuff. Our investment counselors will be there, you.

Can talk to them.

We'll share many meals together, just have a great time. So plan on that in January. Hopefully by the time you're listening, you can just go to jasonhartman.com, click on events and register for that and we will look forward to seeing you there. So without further ado, let's get to our guest today and talk about Transformational technology. It's my pleasure to welcome Patrick Cox to the show. He is editor of the Transformational Technology Alert at Malden Economics. And we've had John Malden on the show before and it's great to be talking to Patrick about some interesting stuff. Today we're going to talk about Apple's new smartwatch. We're going to talk about longevity and what's going on in that field and, you know, how this all interplays with the economy. Patrick, welcome. How are you?

I'm fine, thank you, Jason.

Good, good. It's good to have you. Just give our listeners a sense of geography and tell us where you're located.

I'm on Marco island, or maybe in Marco island, which is about the same latitude as Miami. I'm on the west side of the state, off the coast from Naples, if you know the area.

Okay, fantastic.

What are you covering mostly in the Transformational Technology Alert newsletter?

Biotechnologies, disruptive biotechnologies for the most part.

And what's the hot topic of the day? There's so much on out there. It's really just an exciting time to be alive. I mean, there's a lot of exciting stuff going on.

It is. It's actually overwhelming and, you know, it Is my job to keep track of it. And I'm not sure that I do, frankly. There is so much going on.

The point that I try to get across to people is everybody knows Moore's Law. Everybody knows that microcircuits double in power at a given cost every 18 months to two years. Well, biotechnology is actually making faster advances. The cost of a genome is falling at twice the rate of genome sequencing is falling at twice the rate as the cost of a chip. And we're seeing this across the board in all kinds of tools and biotechnology.

But we're not hearing about the results for a variety of reasons. One is that the FDA won't let companies involved in research say anything, really. So you really have to dig to find out what's going on. But it's worth it because it's going to have a profound impact on everybody's lives.

Is the FDA just saying that? That would be like a forward looking statement and it's kind of like a public company in the quiet period.

Is that why they're not letting people talk?

Yeah, yeah, that's part of it. It's a big part of it. The SEC and the FDA are both very restrictive. My wife is a nutritional biologist and she calls this phenomena information hoarding. And just about everybody in the profession hates it. But.

If you're part of a business.

You'Re really restricted in what you can say, what kind of forecasts you can make, right?

Yeah, no question about it.

What is going on? What are some of the exciting things? It's interesting that you say it's more exciting than what we're hearing. Most people would think probably that'd be the opposite.

You know, they'd think there's, there are.

All these people out there promoting their wares and, you know, trying to get attention in the marketplace.

Actually, it's a, it's a little bit more quiet than the reality, I guess. Huh?

Well, you know, part of our problem is the media, which has never been good at covering science, is disintegrating. The profits in big media have disappeared.

And I'm proud to say I actually played somewhat of a role in that. I was at Netscape when we destroyed the dominant paradigm and did away with the monopoly and information dissemination that was keeping the old media in power. And now that's gone.

As a result of that, however, the number of journalists who are covering science even badly has diminished. So you have to read the journals, you have to be attending the conferences, you have to be talking to the scientists to know what's going on, but it's worth it because we're seeing true revolution in human life.

The important thing to understand though is it's a continuation of a revolution that has been going on for 100 years during which time average health spans, lifespans in North America have doubled. But that will accelerate.

And it's interesting the distinction you just made.

It may be more important that the.

Health span has increased so much more than the lifespan because people are living healthy, active lives right up until the day they croak. And now if we can increase that lifespan and health span, move it up.

Another even 20, 30%, that would be pretty amazing.

Big implications for the economy too, both positive and negative.

I'm not sure.

Absolutely. And you're right, it is a two edged sword. But the pain is largely political. Right now the Social Security Administration is underestimating our actual actuarial lifespans because it would make the debt overhang appear even worse than we think it is. And it is much worse than we think it is. The only solution to that, given a rapidly falling birth rate and a rapidly expanding older population, is that we invest longer, we work longer, and all of that is possible with technologies that already exist. I'm not speculating about what's coming around the corner, by the way. I'm telling you right now, if we had the permission to roll out these technologies, we could increase lifespans by decades.

Wow, that's amazing. So what's stopping US Government? Is it something as simple as just FDA approval or what?

That's a big part of it. You know, Forbes magazine estimates that for every approved drug, the pharmaceutical industry spends $4 billion. Now, some people say that's too high and it's only $1.5 billion.

It's crushing. Fortunately, the Japanese who are farther along this road, they have a much larger older population and even lower birth rate than American. Canada has just recently done away with phase 2 and phase 3 clinical trials in the area of regenerative medicine, which may be arguably the most important area of medicine today. Stem cell medicine. So we're seeing out of necessity, governments begin to recognize the need to start looking for cures instead of trying to stop.

Therapies from coming to market, which is essentially what the FDA is doing today.

Milton Friedman did some great writings about the FDA years ago.

He was a friend of mine, by the way.

What an incredible friend to have. Boy, wow, you must have had some amazing conversations with him. Wow, I would love to talk to him, you know, if I could go.

Back, you know, he did some really good writings about the fda and what.

You'Re saying is very reminiscent of that.

Why is the FDA getting in the way like this?

Well, I mean, this is the nature of bureaucracy. You know, if, you know Friedman, you know, the iron triangle.

Bureaucracy, once created, doesn't want to go away. In fact, its own impulses through self interest. Bring up some other economists. If you look at the public choice school under George Mason.

Bureaucrats and politicians act in their own self interest.

And that essentially leads to the institutionalization of these organizations which have enormous power over everything we do. So, for instance, let's take viruses.

There are several new.

Technologies, brand new platforms, completely new sciences that are just off the radar. The average medical journalist, so you're not hearing about them, DNA vaccines and then.

These conjugate nanomycel ligand structures, which are in fact nanotech machines. Either one of these technologies, both of them have been proven in multiple animal models. And because they work in fundamentally different ways than the small molecule drugs, which is what we think of in terms of drug discovery and approval, there's. I'll just tell you, they will work in people. These companies can't, for legal reasons, but they will work in people. But instead of rushing them to market, instead of helping these companies bring these new technologies to fight influenza, Ebola, hiv, herpes.

The government is obsessed with not being put in a position where they let something through that may have some, you know, side effect later on, which is an absurd position to take when so many lives are at stake.

Yeah, yeah, it really is.

So, you know, we've heard a lot of talk about superbugs. The scary proposition of these viruses becoming immune.

That's more bacteria. Yeah, and bacteria.

Yeah, bacteria.

Sorry, I got the two mixed up. Bacteria. Obviously viruses are.

They do adapt. I mean, viruses also.

But normally when we talk about superbacteria.

Absolutely. So, you know, I mean, it's interesting what you said about the viral aspect. You know, of course, all we've really had for viruses so far as I.

Know, is interferon, which is of course.

Massively expensive, doesn't work, you know, questionable too. Give us maybe your top three, if.

You would, your top three technologies that.

Would extend life, extend health.

And any more thoughts, additional thoughts on.

What'S stopping these things from getting to the marketplace? I would just assume all the creators of these technologies would be just pushing, pushing, pushing the FDA to get it out there.

Yeah. And it's really dangerous. If you offend the fda.

There'S just no telling what's going to happen because, I mean.

The bureaucrats in the FDA are Human. They're no different than any of the rest of us. I don't want to paint some sort of conspiracy, but they are. And many of them are really well meaning and dedicated to public health. But they're incentivized to avoid any kind of risk.

And what that leads to institutionally is.

Or way too much caution, especially in these days of personalized medicine. In the old days, you know, if you took a drug and it only worked for half the people and 20% got sick, it was failed, it was not allowed onto the market. Today we can take with a small test, you can check gene expression, find out whether or not this cancer drug will work for you or not, and give the drug just to those people who need it and for whom it works. But the FDA has not adjusted to the new model of personalized medicine and cancers. I mean there's half a dozen new technologies that right now are paying tens of millions of dollars and wading slowly through this swamp like labyrinth of, of the regulatory process to get them to market. But I predict when they make it, which is the next five to 10 years, cancer will become a minor irritant. It will be essentially solved. I think.

Cancer, what an amazing thing.

Cancer is already solved. And by the way, since you brought up the superbugs bacteria, I think we will see clinical trials in the next six months that prove that.

That is beaten both in terms of systemic infections and also in terms of hospital acquired infections. There are topicals that can be used in surgery that will do away with most of those. This is a non problem but the media loves this, the big scare story. And they're incapable of actually looking at the science and tracking the companies that have solutions. But there is one in particular that I've been following for five years which is getting very close right now and I can't wait.

What's the name of it?

That's celsutics.

Celsudics you said?

Yes. C E L L C E U T I X.

Okay, so that's one. Do you have like two more sort of leading, leading things?

Well, in any of these categories you.

Want to share, I'll give you two more. And you know, people pay me a lot of money for this, so that's all I'm going to give you but one because I haven't been able to actually include it in the portfolio, which is.

An alkaloid which is being researched and moved forward by the Ross Camp Institute in Sarasota, Florida. Rosscamp is the world's leading neurological research group. It was Founded by Robert Ross Camp, who made an enormous amount of money by providing assisted living facilities, mostly to Alzheimer's patients. And when he retired, I don't know, 10, 15 years ago, he put hundreds of millions of dollars into an institute, hired two of the scientists who were responsible for the most important discoveries in Alzheimer's and gave them probably the best equipped lab in the world. I don't know how many PhDs there are now. It's close to 100. The best tools that exist, the most modern equipment. And they've been looking at various approaches to Alzheimer's. And someone came to them with an accidental discovery which is an alkaloid related to nicotine.

Called an adamine. Now they were as skeptical as I was when I first heard this, but they did the test and what they found was that it was the most effective anti inflammatory agent ever discovered. Nothing comes close. The statins, none of the nothing comes close. It knocks down CRPs, and because it's a natural product, it was available for hundreds of thousands of people to use. But we know that it knocks down your C reactive protein panels to youthful levels. So for me it did away with my arthritis, just almost immediately changed my life.

So for four years this was available and was expanding rapidly through word of mouth for the most part.

So a friend of mine here on the island ran out about a week ago, he was using it. One of the effects of using it was to control.

Really serious.

Supraventricular tachycardia svt. And within days of running out because the FDA decided that it was going to have to go through an approval process. About three months ago he had a stroke.

And other people are saying Crohn's disease remanifest itself. Arthritis. This is a natural product that everyone in your audience has eaten multiple times. It's in tomatoes and eggplants, the nightshade family, the solanaceous plant family.

This is a remarkable discovery which I think is going to be worth many years of additional health span. But the FDA decided, based on a study that showed.

Beyond a shadow of a doubt that it prevents long term brain injury following a concussion, traumatic tbi, traumatic brain injury, that it was obviously a drug, therefore had to be approved. Well, the company is in fact the spin off company, which is Rock Creek Pharmaceuticals, is in fact taking it through the drug approval process. But the FDA has apparently pressured the company to.

Take the nutraceutical from the market in order to give them the IND initial drug development permission. So now it's off the market and it's just A catastrophe. That's one. The other one. Now we'll go to the other end of the spectrum, which is stem cell medicine, and that's biochime.

If you'd like to see some of the stuff that they do, I have a webpage called patrickcoxdna.com.

And if you go to that webpage, you'll see pictures of my fibroblast skin cells taken from inside my left arm, which were engineered to become identical to the embryonic stem cells that I came from and then engineered into cardiomyocytes, heart muscles, heart muscle cells. And I in fact, have a video of those heart, my rejuvenated heart muscle cells beating in a dish in Northern California.

You really do like being the guinea pig. This is interesting that you do your own.

Yeah, I do.

I love it.

There's a lot.

Sure, you could.

But those cells, those rejuvenated, Those are essentially zero year old heart muscle cells, whereas my heart muscle cells are 63 years old.

But we know from animal studies, and we know from experiments that if you introduce those cells into an aging animal, which I am, that they engraft and they express growth proteins that then repair the heart. So until recently, it was thought that damage to the heart caused by cardiac event could never be repaired. But we know now that that is not the case. There are a number of ways. GDF11 is a protein that the English scientists have proven can be used to rejuvenate the heart. But this, these heart muscle cells in this video are just one of many. We can essentially, biotime, essentially can take your cells, take them back in time to become immortalized, embryonic like stem cells, and then engineer them to become anything you need. They have a subsidiary in Israel which is working on retinal cells to repair blindness caused by macular degeneration. And we know that works. It's only a matter of time before that goes into clinical trials. It could be knees, knee joints, connective tissue, it could be liver, kidney. There really is no end to this. So regenerative medicine is really the biggest breakthrough of our era. There's lots of more traditional kinds of medicine that I discussed before. Cancers, I think Alzheimer's, we have a really good handle on, won't be one solution, it'll be a number. Because dementia is actually a lot of different conditions caused by a lot of different conditions of aging. But we'll get that, solve that. Type 2 diabetes, obesity, all of these conditions are in fact solvable, many with regenerative medicine. But that takes us to the end of our Hayflick limit, which is the number of times naturally that our cells can replicate. And it's about 120 times, which is why these ultracentenarians that we read about live to be about 120, sometimes 122.

So is it replication is only once a year?

I thought they replicated every 90 days.

No, it really depends on the cell type. And there's some tricks whereby the cell will replicate once and then that cell will then split. But essentially you have 120 telomeres in each of your cells. When you're a kid and you're healthy, you have no inflammation, you have no fibrosis, you have perfect mitochondrial function. We're on the solar cycle. As we get older, as we get sicker, inflammation and, and all these other factors that start to affect the way we age, then we'll accelerate that process. Typically then they will localize in one organ burn through all your telomeres, completely stop replication and you die. But regenerative medicine can fix that. So really what we're looking at is the end of the traditional 120 year limit for maximum lifespan.

Amazing.

Yeah, this is really interesting stuff.

When do you think we'll see the dam break?

At the fda?

And if it's the FDA that's the problem. You know what, other countries are doing.

This stuff and using these technologies.

Japan is leading.

Japan because they, Japan made the decision and were criticized for at the time to not to bring in a bunch of immigrants because they were afraid that these people would not assimilate. They were afraid they were going to bring in people who were essentially hostile to the Japanese tradition at the time. They were, you know, accused of being racist, etc.

Now, you know, it's not.

They probably love some immigrants. They've got a huge demographic problem over there.

Well, it's not clear that they would. I mean they could.

But they're very selective as a result of that. I mean, I don't remember what their birth rate is, but I think it's about 1, 2, 1.2. Their population plummeting.

At the same time, their older population is growing and getting old. So they know they cannot keep the promises they have made to their older population.

Neither can we. But we have the reserve currency, so we can just print it.

That's another discussion. I agree, I'm just joking, of course.

But they face their problem. That's one of the reasons that the Japanese have been so focused on robotics is they knew they didn't have the labor to take care of all of these older people. So they put a huge amount of money into robotics that could help care for older people once they're no longer capable of taking care of themselves. However, that's not going to fix everything. So they have really begun to reform their regulatory process and started to think about encouraging important technologies rather than discouraging them, which is what we in essence are doing in America and also in Europe though it's beginning to change. Just necessity is forcing governments. Even Great Britain for example, is despite the fact that on the surface they have national health care program, they're broke and the people hate the health care system in practice, though not in theory. So they are beginning to deregulate a lot of areas of medicine that are strictly regulated in the United States. So your question, when will the FDA reform? I think it will be shamed into it by other when other countries start to take business away from America and begin to pull people through health tourism.

It makes me wonder if I should be flying over to Tokyo to get some kind of longevity treatment, you know.

Well, at some point this was October 1st that these new rules kicked in. So it's going to take a little while, but the first clinical trial for.

Stem cell therapy is already scheduled in Japan.

Well, before you go, just talk to us about the significance of the Apple Watch.

You know, this whole quantified self movement is pretty interesting and I think we, we just got a huge new tool coming our way that's going to make.

It even more interesting.

Right. My interest in. I'm really excited about this though it's not specifically about the Apple Watch, more it is about the entrance of Silicon Valley, the IT crowd into health care. Because.

I worked in Silicon Valley and I have friends still.

Stay in contact with him.

The IT world moves fast. When something's happening, people work long hours and they rush and they want to be first to market. So.

We saw what happened when the Google spinoff 23andMe tried to push.

Genomics, genetic sequencing and its interpretation for health into the market, which is they just ran up against this wall of the FDA which.

Led to disaster. That was a good thing because it signaled to the industry what they were up against. Now we're seeing Apple's already withdrawn their health apparently and it's probably for regulatory reasons. I don't think it actually was a bug in the software, but other people are also entering into this space. BioTime's mHealth application is really interesting new startup with Eric Schatt from Mount Sinai, the ICON Genomic center in conjunction with the Wiseman Institute in Tel Aviv, which is the master data bank of all genomic knowledge.

Rafael Sereno is the CTO who built really the first search engines Excite and is also very well known in the Valley, is now on board with this project. And what this means is we've got tech folk now coming up against the roadblock of regulatory resistance. And that's a good thing because these people don't take no the way the medical industry does.

That's great. Yeah, so it's really like a new vibe, you know, it's like the tech community is different than the ama, which has wanted to preserve its monopoly and its business and so forth. And it's just a whole different vibe. It's a different kind of mentality, right?

It is. Google has announced they have a new startup with one of the board members from Genentech who says, we want to cure aging. And when Google wants something, they pull out the stops. Which means that for the first time in our lifetimes, the medical establishment as allies.

In this desperate, desperately important task of reforming our regulatory agencies.

And it's interesting because the tech companies.

Really have something to bargain with when.

It comes to the government.

Google can just agree to let the.

NSA run rampant through their servers so they've got something to trade. Unfortunately, of course I'm being massively sarcastic and I hate that idea, as I'm sure you do, but. But just had to throw it in.

For morbid humor if nothing else.

But yeah, it's really interesting. It's really interesting.

Well, Patrick, give out your website.

Tell people where they can learn more about your newsletter.

Well, if you go to Malden Economics, there will be some link. I actually don't know the URL.

Okay, yeah, so just the general website, Malden Economics. And we've had John on the show a few times, so you guys do great work there and you know, keep it up. This is an interesting conversation.

Thank you.

Thank you.

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