Patrick O'Shaughnessy

It's getting better and better and cheaper and cheaper, but that's not actually the thing that matters.

It's more like the rest of the stuff in the system.

I feel greedy asking you about all these different systems, but there's two more that I really want to hear about, those being healthcare and journalism, which is one that I'm personally interested in, of course.

Maybe starting with healthcare.

Everyone knows the headline stats.

The percent of GDP that healthcare represents has ticked up steadily over time.

Outcomes...

in many cases haven't gotten better.

There's some countervailing things like GLP-1 seem to be a modern medical miracle of sorts that can address some of these problems and costs in the healthcare system.

When you assess that overall system, where does your attention get drawn?

What are the things you've discovered are most interesting and important?

As a general matter, not just in healthcare, but in all of these systems that you've studied, is a conclusion that fewer rules are better?

Do you find yourself pro-deregulation as a general matter?

Not necessarily.

Finally, what have you learned about journalism?

That's one that stands out in contrast to some of these other massive countrywide systems that you've studied and explored and done things in and around.

What about journalism have you learned and what does it need?

You get to see so many parts of the system, probably more than almost anyone I've ever talked to.

What has you the most excited about the world?

Innovation.