Yesterday's Fed rate cut reset the stage for the next commodity super cycle, driven by patient data as the new natural resource vital to our economy’s healthy functioning. Product managers, armed with AI, are uniquely positioned to harness this data and create innovative healthcare solutions. As Web 3 enables true data ownership, the fusion of healthcare and media into an immersive Metaverse experience is on the horizon, with patient data fueling the future of personalized care and economic growth. Wade's Law highlights data's perpetual value over fossil fuels.
As the dust settles from yesterday’s rate cut, a new economic frontier is emerging—one that sets the stage for the next commodity super cycle. But this time, it's not driven by fossil fuels or precious metals. Instead, the lifeblood of this economic transformation will be data, particularly patient data. What we're witnessing is not merely a shift in monetary policy but the beginning of a revolution where data is the world's most valuable resource.
For empowered product managers, especially those armed with AI, this presents an unparalleled opportunity. The fusion of your local clinic, hospital, and pharmacy into a data-mining engine, combined with consumer insights gleaned from media—bookstores, radio, TV stations, and even movie houses—into a single metaphorical pill, heralds a future where Web 3 and the Metaverse become intertwined with healthcare innovation. At the heart of this shift lies ownership, the very crux of Web 3, and the promise of personalized health experiences that transcend the physical world. This will drive the singularity moment.
Breaking Down the Concept: Patient Data as the New Commodity
In today's healthcare landscape, patient data is rapidly becoming a commodity. Just as oil fields once powered the world's industrial engine, patient data is set to fuel a new era of innovation. But unlike fossil fuels, this resource is not finite. Drawing from Wade's Law, which is rooted in the idea that data is akin to farmland with perpetual yield, this commodity grows in value the more it’s used. Every diagnosis, prescription, or even interaction at a clinic is a potential input that AI can mine, analyze, and transform into personalized insights that could save lives, improve patient outcomes, and create new revenue streams.
So, what exactly is a commodity super cycle? Simply put, it’s a prolonged period during which commodity prices rise due to a mismatch in supply and demand. Historically, commodities like oil, copper, and gold have followed these cycles. But now, we’re on the cusp of a data super cycle, where demand for patient insights far outstrips supply. Think of data as energy in its purest form—constantly generating value through analytics and AI—versus the finite and depletable energy of fossil fuels. With this comes the promise of perpetual growth, making patient data a renewable resource that fuels the engines of healthcare, technology, and the Metaverse.
The Fusion of Healthcare and Media: The Pill of the Future
The metaphorical “pill” symbolizes the fusion of two powerful sectors: healthcare and media. Imagine taking a personalized health "pill" that not only delivers medication but also streams real-time content, offers curated health advice, and monitors your vitals. It's more than a pill—it’s an experience. This is where product managers can make their mark by creating ecosystems that leverage patient data and turn it into value for both patients and healthcare providers.
Drawing inspiration from the article The Vital Role a Product Manager Plays Throughout a Company’s Life, we see that product managers are not just creators—they are curators of value throughout the product lifecycle. In this evolving landscape, a product manager armed with AI will play a critical role in shaping healthcare products that are not only innovative but deeply personalized. AI allows you to capitalize on this vast reservoir of patient data, optimizing the user experience, reducing costs, and improving outcomes in ways never before possible.
Web 3, True Ownership, and Preparing for the Metaverse
The transition to Web 3 is all about ownership. In the healthcare Metaverse, patients won’t just be passive consumers of medical services—they’ll own their data and the insights derived from it. This new paradigm of data ownership will fuel innovation in ways we can barely imagine today. With the fusion of healthcare and media into this single "pill," patients will have control over their health journeys in a fully immersive, digital-first world.
But for product managers, this isn’t just an opportunity—it’s a challenge. How do you design products that allow for true ownership while ensuring data privacy and security? How do you create a seamless user experience in a fragmented digital landscape? These are the questions product managers must answer as they lead the charge into this new frontier.
Wade's Law helps contextualize the value of patient data compared to traditional commodities like oil. Just as Wade's Law argues that farmland's yield is perpetual, data is similarly renewable. Unlike oil fields, which deplete over time, patient data is an infinite resource that, with the right tools, can be continually mined for valuable insights. The energy derived from this data—measured in terms of improved patient outcomes, new treatment protocols, and personalized medicine—is the true fuel of tomorrow’s economy.
Takeaways for Product Managers
1. AI Is the New Frontier: Product managers must harness the power of AI to extract insights from patient data, creating products that deliver real-time, personalized health experiences.
2. Patient Data Is the New Oil: As we enter this new super cycle, patient data will become the most valuable resource in healthcare, outpacing traditional commodities like oil in both utility and profitability.
3. Web 3 Empowers Ownership: The move to Web 3 will give patients ownership of their data, making them active participants in their health journeys. Product managers must design systems that ensure privacy and security while enabling this new form of ownership.
4. The Metaverse Is the Future of Healthcare: The convergence of healthcare and media in a fully immersive Metaverse is not a distant dream. Product managers have the power to bring this future to life by designing seamless, immersive, and valuable user experiences.
As we prepare for the Metaverse, the role of the product manager will become even more critical. For those armed with AI, and the computing power presently in the space sector, namely NASA's Jet Propulsion Lab Pleiades, or the quantum computers that are being worked on at places like the Illinois Quantum and Microelectronics Park (IQMP), with PsiQuantum as an anchor tenant, ripe for asset tokenization as a true public-private partnership, the ability to mine this new natural resource—patient data—will create unprecedented products that not only improve lives but also fuel the next wave of economic growth, with the economy in the Metaverse expected to be many times larger than the physical world GDP, resulting in endless jobs, higher living standards, and, of course, new breakthroughs that'll seem like miracles today, like a garden growing in the midst of the most barren and harsh environment on earth or even places within the solar system, such as Mars, and beyond. This is the dawn of a new super cycle, which is being referred to as the next Great Awakening, and product managers are at the helm.
Explore more about how product managers shape the future of industries in The Vital Role a Product Manager Plays Throughout a Company’s Life and the foundation of Wade's Law in Like the Pioneers of Yesteryear, There's a New Kind of Energy Exploration Taking Shape.
Copyright ©️ 2024 Sir Roy G. Biv
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