Hacker News Reader

Comment by michaelscott | Hacker News Reader

I am not young, but I have never seen a major institution (including governments) caring about citizens in aggregate in my lifetime. To me, this is an artifact of the 50s or 60s, some bygone era (which is funny, because the government did not care about citizens in aggregate back then either).

I can only imagine how the younger kids see things. They're bombarded by public knowledge of nasty things institutions did in the bigoted/ignorant past, underhanded things they're definitely doing now, an anger/fear inducing news cycle and endless social media conspiracy theories (some of which end up being true) engineered for clicks. Extreme cynicism is a logical conclusion.

View on HN

Precisely this. The idea of trusting that a news corporation (or any other corporation) cares about you is just utterly absurd in 2025. We all know now, and have for some time, that, factually, this is not how things work, and profit (or funding) has to come first, or the corporation does not survive. It isn't even cynicism, just a recognition of the economic realities of contemporary society.

This is just cynical brain poisoning. My health insurance company isn't a person who cares about me, but that was never the deal. Their interests are aligned with mine. I'm in a blue state and can get the covid vaccine for free despite the federal level fuckery. That is because my insurer cares about profit, which means they act on the science of it without the culture wars and demagoguery. They know I'll be net healthier with the vaccine, therefore more profitable to them.

There is no cynicism or brain poisoning here, health insurance is in no way comparable to news. The economic incentives for news media putting the truth first are simply not there. They can't tell blatant, obvious lies too often, yes, or they will lose trust and thus profit, but nothing really prevents them from lying by omission, and if, e.g., fear mongering, clickbait, and pandering leads to more profits, this is where they must and will go.

If people demanded truth, we might see a different story, but it is clear that enough people want other things more, often enough.

> They know I'll be net healthier with the vaccine, therefore more profitable to them.

How do you square this with the fact that in the US the same profit-minded insurance company is limited to a fixed profit margin based on the amount of claims paid? By law, they need to set their rates such that they pay out at least 80% (or 85% for some markets) of the premiums they collect. Practically the only way for them to make more money in the long term is to pay out more in the short term.

Personally, I'm not sure how to answer this question. Over time, insurance companies benefit more when medical costs for their customers are higher, not when they are lower. Maybe it's that they actually think that keeping you alive and paying premiums longer is better for their bottom line than having you die quickly? But I don't think it's as simple as thinking that they benefit more if you don't get sick.

Link about allowable Medical Loss Ratios: https://www.cms.gov/marketplace/private-health-insurance/med...

Reply on news.ycombinator.com