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Perusing Sequoia Capital's healthcare company database, a word comes to mind

Repugnant.

Abby Care — the listing is alphabetical so it sits at the top — “empowers families to deliver exceptional care”. More specifically, it “trains family members to become paid caregivers for loved ones with disabilities or special needs” and “provides training and community support to deliver better care at lower cost”.

Mysteriously, it also brags about accepting major health insurance providers. Piecing together the fluffy prose on their website and their simple 3-step process [Note: Step 1: Get certified with Abby Care through no-cost training. Step 2: Begin care enrollment (with Abby care support for employment, payroll and administrative coordination… Wait, payroll?) Step 3: Deliver quality care. ] it seems that Abby Care wants to be the Uber of home health aid for people who have a family member in need. The proposition is that, since you are already doing all these things for your loved one, you may as well train to do it even better (great!) but also bill your loved one’s medical insurance for it for the “care” you “deliver” (wait, what?) and let Abby Care take a cut (ick!)

The website is also full of community, whether it’s “family-to-family connection and support”, “navigation of community programs and resources” or a statement that “Abby Care brings families together through shared experiences, practical support, and ongoing connection”. Yes yes, you can make this abomination into a community in the same way you can run dirty tap water through reverse osmosis and add back electrolytes to make it taste like a crisp mountain spring. But only one of those comes free, conditional on 1) it existing and 2) you getting to it; RO is significantly easier to obtain provided you have the electricity to run the machine, money for regularly replacing the remineralization filter, and tolerance for wasting four gallons of water for every one you drink.

Mr. Market has a knack for finding an inherently good thing people do out of altruism, sense of obligation or sheer humanity, then putting a price tag on it, taxing it and adding on a 15% service fee to boot — just look at what happened to Airbnb. The only reason some galaxy-level brain at Sequoia isn’t funding a child care scheme similar to Abby Care is that there is no equivalent in health insurance for the care of children. Otherwise I have no doubt that there would be a platform — it is always a platform — for parents to take care of each other’s progeny in return for some meager returns which the platform owners will garnish, laughing all the way to the Silicon Valley Bank.

The monetization of everyday interactions is not new — it first became salient to me after reading the 2019 book Capitalism, Alone by Branko Milanović, which the Wall Street Journal described as “an implausibly dystopian vision of global capitalism’s future.” I am sure the finance whizzes at the WSJ would not find this entire thing repugnant, but I truly wonder about the prevailing opinion among everyone else.

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