Tackling aging like never before
Google’s Calico initiative alone, supported by pharmaceutical giant Abbvie, relies on a multi-billion dollar fund. The Chan Zuckerberg Initiative—to which Mark Zuckerberg pledged to donate 99% of all his facebook shares, or $45 billion—is devoted no less than to eradicating all disease by the end of the century. Altos Labs—a company funded, in part, by Jeff Bezos—just launched with a whopping 3-billion-dollar fund.
Still, if we compare the efforts of venture-backed companies to government-funded agencies, we learn that private capital alone will not move the needle. The US spends almost $3 trillion dollars yearly on adults aged sixty-five and older, with retroactive measures like Alzheimer’s and retirement programs.
We need to get governments and lay persons to understand the dimension of this crisis: By 2029, the US will spend half its federal budget every year on adults aged 65 and older. The same is quickly happening in developing countries, like Brazil (where I’m from), and before long, there will be no young immigrants to sustain America’s workforce.