Explore the challenges and opportunities in healthcare innovation through this 22-minute conference talk delivered by Jorge Conde, general partner at a16z's bio fund. Delve into the reasons behind the staggering healthcare costs in the U.S. and examine why the industry has been resistant to cost-reducing innovations. Discover how technology is revolutionizing the healthcare industry by enabling a more powerful understanding of biology and rewriting the process of discovering, testing, and bringing new medicines to market. Gain insights into the convergence of biology, computer science, engineering, and medicine, and learn about the fundamental discoveries driving progress in the field. Understand the complexities of getting drugs to patients, including preclinical testing, regulatory risks, and distribution channels. Reflect on the potential for new medicines and the future of the bio industry as it navigates these challenges and opportunities.