It's funny. I'm a physician who has done thousands of invasive procedures and each time I perform a procedure, I have a conversation in which we discuss the risks and benefits. There are always risks. The insurance industry understands this. The financial managers understand this, but sometimes, it seems like America doesn't.
Last night I barbecued steak. I watched my youngest son cut his steak (he's really not very good with cutting) and made sure that he cut the pieces to a small enough size. Later, one of my older sons grabbed some steak after a lacrosse game. I was in the kitchen and heard him choke. I ran towards him to do the heimlich (I've never done it in real life and NEVER wanted to do it on my child) when he coughed up a large piece of meat. Did I have a discussion with him about the risks of eating, but 2500 people die each year from choking, only 200 less than die from fire. We drive to work (42,000 deaths per year) and, in Florida, go swimming (2,000 deaths per year) Risk is all around us.
Now, I hear concerns raised about the safety of sharing economy services like Uber, Airbnb, and my company, Room2Care. Who are these people providing these services? Who was the guy driving the taxi who picked you up when you lifted your arm in the air. Because Yellow Cab hired him, I should accept that he is somehow better than the next guy? The next guy has reviews.
I used to be afraid shopping on eBay. Who are these people? I'd rather go to the little store near me. Over time I realized that I have no idea what the last customer in that store felt about his shopping experience, but I can see, in a simple dashboard what the last 5,000 people felt about this operation in China that sells iPad chargers. The guy in China has 4 1/2 stars. Is he really riskier than the local store.
At Room2Care, we background check all care givers and all care recipients. Everybody reviews everybody else. Who is the night nurse at the hospital? Do you know what her last ten patients thought about her before you let her in your room?
While there is risk in all activity, it is essential that any company that is looking to establish a brand that you trust do everything possible to minimize your exposure to risk. And remember, little pieces of steak are best.
Thursday, February 26, 2015
Tuesday, February 17, 2015
Trust Me, I'm Trustworthy
As a founder of a tech startup in the sharing economy (Room2Care.com), I have preached from honor and integrity from the onset. In establishing a new marketplace for senior care, it is essential that seniors and their families trust us. Now, if you have ever spent time with me, you would know me to be obnoxious, arrogant, sarcastic, determined, dedicated, kind, intelligent and HONORABLE. I've told people for years that one of my major hopes is, that at my funeral, everybody agrees that I was an honest straight shooter. I have my flaws, but lack of transparent honesty, is not one of them.
So, I, as a founder, have managed to acquire a reputation for trustworthiness. How do I get a similar reputation for my company? I pulled up a Forbes Article that looks at the most trustworthy brands. The top brand on the list was Johnson & Johnson. Sure, I like baby powder as much as the next guy, but interestingly, I'm a lifelong Jets fan and Woody Johnson (of Johnson & Johnson) is the owner and he has been far below the level of trustworthiness that I strive for. Number 2 on Forbes list is General Mills, the maker of Lucky Charms; a company that has sold us on feeding sugar to our children. Three is Google, but, am I the only one nervous about how much they know about me? In fourth place is Kraft Food, maker of Oreos and that strange cheese. Do we know what that white stuff in Oreos is made from.
As I go through the list, I guess that the key point is that the trust worthy companies are those that have been around long enough or have been big enough that almost everybody has interacted with them and hopefully did not have a terrible experience (sorry AT&T)
I guess that Room2Care will have to grow our trustworthiness, the same way that I have, one honorable interaction at a time.
So, I, as a founder, have managed to acquire a reputation for trustworthiness. How do I get a similar reputation for my company? I pulled up a Forbes Article that looks at the most trustworthy brands. The top brand on the list was Johnson & Johnson. Sure, I like baby powder as much as the next guy, but interestingly, I'm a lifelong Jets fan and Woody Johnson (of Johnson & Johnson) is the owner and he has been far below the level of trustworthiness that I strive for. Number 2 on Forbes list is General Mills, the maker of Lucky Charms; a company that has sold us on feeding sugar to our children. Three is Google, but, am I the only one nervous about how much they know about me? In fourth place is Kraft Food, maker of Oreos and that strange cheese. Do we know what that white stuff in Oreos is made from.
As I go through the list, I guess that the key point is that the trust worthy companies are those that have been around long enough or have been big enough that almost everybody has interacted with them and hopefully did not have a terrible experience (sorry AT&T)
I guess that Room2Care will have to grow our trustworthiness, the same way that I have, one honorable interaction at a time.
Friday, February 13, 2015
A Note to Taxis, Stop Suing and Start Innovating
Last blog, I ridiculed Christopher Davis, CEO of Professional Chauffeur Transportation Services for their suit against Miami-Dade, Uber and Lyft. I found Mr. Davis pathetic in his attempts to claim that he had to stop these renegade services for the good of mankind. Well, as pathetic as Mr. Davis is, I felt sorry for him. So, I decided to give him some advice.
First, stop. Please, I'm begging you, stop. Stop pushing for regulation. Push for deregulation. Uber and Lyft have created an advantage by calling themselves "ride sharing" and not taxis. I don't understand the difference either. Instead of pushing to regulate, push to deregulate. Taxis are required to charge pre-approved prices, Uber can be creative and raise and lower prices depending on demand. With the competition coming from ride-sharing, there is no need for regulation. Get rid of it and compete.
Copy the surge pricing model. There's no reason that there shouldn't be peak and off peak pricing. Hotels, airlines, even baseball games and broadway musicals do it, why not taxis. Be creative. Maybe allow people to bid on taxi fares. And please, Mr. Davis, feel free to market yourself. You claim your drivers are more experienced. Market it. Explain the advantages.And, for goodness sake, get a damn app already.
Regulation is reasonable when there is no competition. When competition exists, strip away the facade and let price and innovation win. Please Mr. Davis, fire your lawyers and hire some app developers. That will show me that you actually care about the public good.
First, stop. Please, I'm begging you, stop. Stop pushing for regulation. Push for deregulation. Uber and Lyft have created an advantage by calling themselves "ride sharing" and not taxis. I don't understand the difference either. Instead of pushing to regulate, push to deregulate. Taxis are required to charge pre-approved prices, Uber can be creative and raise and lower prices depending on demand. With the competition coming from ride-sharing, there is no need for regulation. Get rid of it and compete.
Copy the surge pricing model. There's no reason that there shouldn't be peak and off peak pricing. Hotels, airlines, even baseball games and broadway musicals do it, why not taxis. Be creative. Maybe allow people to bid on taxi fares. And please, Mr. Davis, feel free to market yourself. You claim your drivers are more experienced. Market it. Explain the advantages.And, for goodness sake, get a damn app already.
Regulation is reasonable when there is no competition. When competition exists, strip away the facade and let price and innovation win. Please Mr. Davis, fire your lawyers and hire some app developers. That will show me that you actually care about the public good.
Thursday, February 12, 2015
When at First You Don't Succeed...Sue! Uber, Lyft and Class Action
Well, welcome to Miami, the magic city. It must be magic because we're trying to make innovation disappear. Yes, I'm being a little difficult. It's not Miami's fault that Christopher Davis, CEO of Professional Chauffeur Transportation Services has sued Miami-Dade County, Uber and Lyft on behalf of all for-hire transportation companies in the county and "the public at large." Well, Mr. Davis, please leave me off of your list of coplaintiffs. It's not difficult to see what's going on here. The established companies have created a series of obstacles to make competition difficult to preserve their monopoly powers. Listen, I get it. If I had a monopoly, I'd want to protect it as well.
We like to claim in this country that we are pro-market, pro-competition, etc, but, in reality, we set up a bunch of barriers so that the old guard can scream foul! Why are Uber and Lyft growing rapidly? Is it because customers hate their service and feel that the Taxi medallion is a better way of judging the vehicle than the last 200 reviews that the driver and his car received? Is it because people prefer to pay more money for a service that is less customizable.
Mr. Davis, please spend your money making your services competitive. Please do not hide behind arbitrary standards that your monopoly helped pass as if that is something demanded by the public good. I'm all for you competing on the same turf as your competitors. If you feel that your "background check" is better than the competition, advertise that and see what the market says. Don't waste my time with your pathetic suit against "rogue companies."
Why do I care? As you may know, Room2Care is to Long Term Care what these companies are to transportation companies. We leverage the sharing economy to provide accountable, affordable senior care. I am waiting for Mr. Davis' equivalent in the Nursing Home industry to take the same swipe at me. So, I'm hoping that Mr. Davis loses and that competition and "the public at large" win.
We like to claim in this country that we are pro-market, pro-competition, etc, but, in reality, we set up a bunch of barriers so that the old guard can scream foul! Why are Uber and Lyft growing rapidly? Is it because customers hate their service and feel that the Taxi medallion is a better way of judging the vehicle than the last 200 reviews that the driver and his car received? Is it because people prefer to pay more money for a service that is less customizable.
Mr. Davis, please spend your money making your services competitive. Please do not hide behind arbitrary standards that your monopoly helped pass as if that is something demanded by the public good. I'm all for you competing on the same turf as your competitors. If you feel that your "background check" is better than the competition, advertise that and see what the market says. Don't waste my time with your pathetic suit against "rogue companies."
Why do I care? As you may know, Room2Care is to Long Term Care what these companies are to transportation companies. We leverage the sharing economy to provide accountable, affordable senior care. I am waiting for Mr. Davis' equivalent in the Nursing Home industry to take the same swipe at me. So, I'm hoping that Mr. Davis loses and that competition and "the public at large" win.
Tuesday, February 3, 2015
Go Easy on Uber, It's the Future of Senior Care
Several years ago, my father was at Lenox Hill Hospital, scheduled to undergo urgent surgery. I quickly arranged a flight to New York and grabbed a taxi from JFK Airport. My taxi driver had never heard of Lenox Hill Hospital, but he called someone who knew where it was. He was eating food native to his Pakistan. He was eating and talking on the phone when he failed to see the car in front of him break. We slammed into the car in front of us and were then promptly rear ended by the car behind us. I felt liquid on the cabin floor by my shoes and quickly surmised that we had ruptured our gas tank and would soon explode.
As I waited for an opportunity to escape "death-cab," I put my finger in the liquid and smelt it. It did not smell of gasoline. My driver, Farooq, saw me smelling the fluid. "Oh, it is my water that was spilled." Sure enough, my cabbie had about a 2 gallon bottle of water in his front seat that had flipped over. "Oh, my friend, when the police come, please tell them that the horrible man in front slammed on his brakes and there was nothing I could do."
Fortunately another taxi came for me before there were any required statements. I left my name and number and was able to get to my father. I think about this as I hear about Uber's issues.
It's funny. I am a New Yorker. If you want to know where the new immigrants are coming from this week, take a cab. You will learn the new immigrants, where the eat, what radio stations they listen to, etc. It's always been a great piece of the tapestry of New York. But the notion that these individuals who come from a land before stop lights represent the safest approach to urban transportation is absurd.
I think about this as I watch another new attack on Uber on an almost daily basis. Sure, Uber's management has been aggressive, rude and probably unethical, but they have created a transparent, efficient system that has exceeded customer expectations and created a superior experience. Why are we seeing such pushback. They say a picture is worth a thousand words so here's the picture.
As I waited for an opportunity to escape "death-cab," I put my finger in the liquid and smelt it. It did not smell of gasoline. My driver, Farooq, saw me smelling the fluid. "Oh, it is my water that was spilled." Sure enough, my cabbie had about a 2 gallon bottle of water in his front seat that had flipped over. "Oh, my friend, when the police come, please tell them that the horrible man in front slammed on his brakes and there was nothing I could do."
Fortunately another taxi came for me before there were any required statements. I left my name and number and was able to get to my father. I think about this as I hear about Uber's issues.
It's funny. I am a New Yorker. If you want to know where the new immigrants are coming from this week, take a cab. You will learn the new immigrants, where the eat, what radio stations they listen to, etc. It's always been a great piece of the tapestry of New York. But the notion that these individuals who come from a land before stop lights represent the safest approach to urban transportation is absurd.
I think about this as I watch another new attack on Uber on an almost daily basis. Sure, Uber's management has been aggressive, rude and probably unethical, but they have created a transparent, efficient system that has exceeded customer expectations and created a superior experience. Why are we seeing such pushback. They say a picture is worth a thousand words so here's the picture.
It's pretty easy to see that this is BIG business and that Uber and Lyft have begun to have an impact on this.
I mention this because, despite the limitations of taxis, I never had a huge problem getting one. Ya, at rush hour when it rained, or on broadway right when the theaters all got out, but, by and large, not much of a problem. At Room2Care.com we're using the sharing economy to provide something that the American Long Term Care industry, a $300 billion industry, has failed to provide safe, accountable, affordable senior care. Think about it. I had no idea when I got into that taxi who my driver was. Now, when I enter an Uber vehicle, I have the advantage of reading reviews on my potential drivers. Trust me, the people working in long term care are low wage individuals who have very high turnover. You never know who will be taking care of your loved one. Compare that to Room2Care.com where prescreened caregivers work as their own small business.
So, go easy on Uber, they are leading the way and the end result will be better for our seniors.
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