Screw up at Facebook, you get yelled at on Twitter and your share price dips for a few days. Screw up a medical device, you get sued out of existence.
This probably doesn't explain the whole thing, but it is certainly related.
Screw up at Facebook, you get yelled at on Twitter and your share price dips for a few days. Screw up a medical device, you get sued out of existence.
This probably doesn't explain the whole thing, but it is certainly related.
Or, you know, people die.
Of course this is nothing new (Economic version: "That Which is Seen, and That Which is Not Seen"). Just another cognitive bias.
There is some more-or-less optimal middle ground between too little and too much regulation, but I don't think we're on it now. In fact, maybe it would be worthwhile to have a two-tier system, one for ordinary medical devices, another for experimental "this will probably kill you but perhaps you have nothing to lose" situations.
Also it did help that the users grew confident in it over time. It was not like these overnight success stories (not even success story) which you hear all over the news :)
All we need is just one state with medical contractual freedom.
Spin the FDA off as a non government agency, with no force of law behind it, let it create a voluntary approval process (something akin to the UL process for approving home electrical devices, for example) and let it be.
In ayurveda, there are 3 types of medicines, food, herbs and poisons. The current allopathic system is purely the last type. It is heavily regulated because it is big money. There is not big money in the first two. (You may think there is money in food, but not fresh food which you actually have to prepare and eat within an hour, not prepare and let sit and pump full of preservatives).
I know someone, kind of financially successful, who swears by everything that his team developed a cure for AIDS, but they found out after years of politics that they will never get approval from legal entities to release.
There are a lot of people that proclaim that have cure for AIDS/cancer/whatever, and many of them blame the establishment for blocking it. The same history appears with perpetual movement machines. Without more proof, probably it just another too optimistic investigator, a scammer or a crackpot.
Can you put me in contact with them?