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b'On this episode Erik is joined by Vijay Boyapati (@real_vijay), a returning guest who was previously here to talk about Bitcoin and crypto from an Austrian perspective. Today he\\u2019s here to talk about healthcare from the Austrian perspective. He breaks down the causes for the dysfunction in the US healthcare system as he sees them and talks about what (if anything) might fix them.

They discuss the factors that are distorting incentives in healthcare and why they result from a lack of free markets. Vijay talks about employer-sponsored healthcare that emerged during World War Two, which has remained the default system \\u201cby accident\\u201d ever since. He also talks about Medicare and farm subsidies and how those have contributed to consumers paying more but getting less when it comes to healthcare.

Erik asks what Vijay would do if he could wave a wand and change anything about the US healthcare system, but Vijay says that it might take a collapse of the system to change how things work. Vijay talks about why the US system is still superior to single-payer healthcare systems around the world and why he would look to Singapore as an example of a country that the US could learn from. They also discuss the Austrian and libertarian perspectives on governance and monetary policy more broadly.

Thanks for listening \\u2014 if you like what you hear, please review us on your favorite podcast platform.

Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.

Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.


Quotable Lines From This Episode:

\\u201cThe cost in single-payer healthcare systems is the wait. I\\u2019d rather live somewhere where the treatment is available even if it is expensive.\\u201d

\\u201cAsk a doctor delivering a baby, \\u2018how much does this cost?\\u2019 They can\\u2019t tell you because they don\\u2019t know. This is the only industry where a provider has no idea what their service costs.\\u201d

\\u201cInsurance is supposed to be for unexpected catastrophic events, so it\\u2019s strange that we use it for all these routine healthcare procedures.\\u201d'