AgeTech

You see it in the media and hear about it with investors.  Digital Health is in its bubble of $8.1 billion in 2018,  which amounted to 8.6 % of VC investments, despite limited exit strategies – but investors love it.    Startups focused on the aging/technology space, however, receive only 0.7% of venture capital investment, including the big money ($115 million to date) that has gone to just one company.  (And that company is quietly pivoting to become a home care consolidator/platform company).  Meanwhile, over at the $30 billion (2018) home care market, a worsening shortage of workers in the midst of demand growth, is creating a recruiting near-panic among agencies, senior living firms and families, and produced.

When there’s nothing else to buy. Funny about technology ownership among the oldest – generally there is no way to know whether they own any or if would they buy it. Neither Pew (in 2018) nor AARP (2019 technology ownership) broke out upper age ranges. So Link·age Connect is an outlier that asks ownership questions and documents age breakdowns of responders, half of whom were age 75+. This 2019 Technology Survey of Older Adults Age 55-100, conducted online, notes that 80% of respondents (45% of whom live in senior-oriented communities/housing) have smartphones. At this point, if the mobile phone breaks, what’s the store rep going to promote, and it doesn’t matter which store? While they carry flip/feature phones, an iPhone or an Android phone can be used just like a flip phone. More than 50% of respondents have smart TVs (yes, that’s nearly all you can buy these days).

You have a pliers in your kitchen. Rant on. If you were lucky enough to read Don Norman’s rant in Fast Company, you must agree with his view of design and its mismatch with the needs of the elderly. You would agree with Don that today’s designs fail all people, not just the elderly.  Because you too have a pliers or wrench in your kitchen to twist tops off bottles and jars. You puzzle at how best to position a knife to release the suction on jars. You have a slippery front door handle that a person with hand arthritis could never open. You have a not-so-universal TV remote with 45 buttons on it, the smallest of which is ‘Mute’.  If you have another box, it has a remote, and perhaps another for stereo equipment and an stylishly confusing one for Apple TV. And that’s just one room. You frequently want to print from a device to a network printer, which requires a network, which requires a router, which needs an upgrade. Let’s not go there.