Name: AOL Co-Founder Steve Case Has Some Advice for Donald Trump
Uploaded: 2016-11-21
Duration: 4 min 34 s
Description: It has to do with health care.

You've been traveling all around the country and you've been talking to educators, and investors and entrepreneurs. What are you learning? That's this is a great nation and there's a lot of great people doing a lot of great things. But sometimes their stories are not being told, and sometimes their ideas are not being championed. And that's what we're trying to change with the [ UNKNOWN ]. Is have more people feel like they actually have A shot at the American dream. Whether they are an entrepreneur that wants to create a company, or somebody who wants to work for a fast growing company and have that you know and level the playing field so anybody anywhere has that shot. It's not just where you happen to live or who you happen to know which has driven a lot of the innovation over the past decade. We need to have a more inclusive, diverse approach to To entrepreneurs. You talk a lot about investing in America's Heartland, I know that's a big theme in your book, The Third Wave. But how do you drive investment into places outside the Silicon Valley, New York and Boston? And what's in it for the entrepreneurs to expand in these secondary markets? Most of the Fortune 500 companies are in the middle of the country. You know, what some call flyover country is is really the epicenter of healthcare and education and some of these other different industries but I think we need to have a little less of the silicon valley arrogance that you know all the smart people in silicon valley all the great innovations happen in silicon valley because its happening all over the country and focus more on these entrepreneurs drive more capital to these entrepreneurs last year 78 % of venture capital Went to three states, California, New York, and Massachusetts. 78 %. So how do we get more capital flowing to the entrepreneurs in the other places? That will create more jobs in those other places and lift up more communities that so people will feel part of the future, not left behind. Let's talk a little bit about healthcare. That's one of Donald Trump's biggest priorities. He says that he wants to repeal the Affordable Care Act but now it seems like He's saying that there are some elements that are worth keeping. What do you think he's gonna do with healthcare? Well, I'd be surprised if he completely repealed it. I know he's said he would do that. But I think it is complicated and there are a lot of people who are now using the Affordable Care Act. And I think walking away from that, completely, would create some disruption that probably is not Constructive, so I'm sure he wants to change it, I'm sure he will change it, exactly how he changes it unclear to me at this point but my guess is it's less about repeal and replace and more about modify and extend. One of the goals it seems that president elect Trump wants to do with healthcare is make it. Just like any other business, a lot like the traditional retailers are where there are a lot of choice for consumers, there's plenty of competition and there's good clearance on the prices. Is that really doable in healthcare, giving all the complexities and that there's so many powerful stakeholders I think it's a good aspiration. I've seen some innovation there in the area of health apps and wearable devices, things like FitBit where the consumer actually does decide. The consumer pays and goes to Best Buy and pick it up off the shelf. We're starting to see more innovation in managing chronic disease. Diabetes and heart disease with some interesting innovative solutions. More companies, dozens of companies, have been formed focusing on cancer research and genomics and precision medicine and as you move down that path it does get more complicated. The regulations do get more complicated as well so we'll see innovation in all these different Hopefully it leads to a healthcare system that is more convenient, is more affordable, does lead to better outcome. You talk about some of the innovations that have gone into healthcare, but there really hasn't been a clear winner, there hasn't been the Facebook of Of healthcare. The Microsoft of healthcare. What is it gonna take to have a real breakout success? These are complicated sectors, complicated industries. There is a big policy aspect. There is a big reimbursement aspect. So the entrepreneurs tackling this need to have a different mindset. It's gonna require more perseverance. These are not gonna be overnight successes. Require more partnerships, it's going to require really working with a lot of different constituents. It's going to require engagement on policy because they're regulated. Let's say that president- elect Trump called on you to the White House and said Steve I really want your advice. On how to fix health care. What is the most important thing I should do, what would you tell me? Unleash entrepreneurs. A lot of entrepreneurs and investors are scared away from health care, because it is complicated, because there are these regulatory aspects. Because it does require more More persevere as it does require more partnerships. So how do you get more of those innovators focusing on kinda improving their healthcare system to make it easier for them to be disrupted, I think would be my primary advice. [ BLANK_AUDIO ]