FOMO: We missed out on Bitcoin so what is our next opportunity?
I recently wrote a blog about monetizing our healthcare data and DNA, and this is a continuation of those thoughts.
I remember back in 2014 when I had just started at my first “real” job and often felt out of place; college and bartending had not prepared me for the 9-5. At the time, I had a coworker that was a graduate of an ivy league schooland we would talk about how he was investing in the future of money. I thought this Bitcoin was some secret developer world that I had no idea about and wrote it off as something over my head. If I were to be completely honest, investing wasn’t an option. Even at $300-700 a coin it was unaffordable, unless I wanted to play chicken with my landlord and see if she would notice my rent coming two weeks late from my mid-month paycheck. Looking back now if I had just bought less Jameson and invested my pennies I would be sitting on coins that had returned my investment at least 25x over. Now that I am a smidge older I know I don’t want this history to repeat itself.
First, my thinking was, “I might as well buy a Bitcoin now,” little did I know my bank account and the cost of the coin inflated at the same rate, and it is still out of my reach. My second thought, if 23andMe just signed a $300 million deal to sell anonymized data, how much would these companies be willing to pay for the whole picture? Don’t get me wrong, the idea of privacy is nice, but it hardly exists. If you have a Facebook then you know privacy is more a concept today than it is a real practice. So why should a company like 23andMe and the big pharma execs see all the financial benefit?
We live in an interesting society where we believe that those with the most, should have more, and those with little to none should fend for themselves. For example, an article was released by Forbes that Kylie Jenner had made $900 million off her cosmetics company, so supporters and fans started a fund to get her to $1 billion. However, we are seeing extreme budget cutting for government-funded programs for low-income families for things like housing and healthcare. But I won’t get sidetracked on the realm of issues that come from that comparison.
My point?Fight for what should be your income, take ownership of your information, make the big companiescome knocking on our doors, and filling our wallets. We could let this moment pass and be late to the game, but I am not going to allow that to happen. I intend to continue to follow TimiHealth/TimiDNA so that I can not only protect my data, but I can say I own it and start sharing in the wealth that is gathered from information gathering.