Eric Larson

Basically, that's a pretty technocratic way of saying we have no comprehension of what's going on inside the black box, which is kind of terrifying.

I mean, if you think you can judge it by its outputs, but it's reasoning in a high dimensional space that we only opaquely understand.

But that's for another discussion.

Let's get to U.S.

healthcare.

Gen AI is about one thing.

in this current instantiation.

It is about brute force productivity augmentation and the systematic substitution of technology for labor.

And if you believe in that statement, as I do,

U.S.

healthcare has the greatest susceptibility to disruption from this technology for three reasons.

First, the labor addiction in our industry.

The Bureau of Labor Statistics came out with the recent data.

There are 23.8 million Americans employed in healthcare.

You've heard me say this before, but U.S.

healthcare is the only industrial vertical to see negative productivity growth over the past generation.

And it shares characteristics with housing and education.

And what do those have in common?

They have constrained supply and subsidized demand.

But it's kind of indisputable that healthcare is buoying up the economy in hiring, right?