In January, a guest article on finews.asia critically addressed the topic of longevity, that is, investments in extending the healthy lifespan of people. The opposite position is now taken by Tobias Reichmuth, partner at the Zug-based longevity investor Maximon. In his opinion, it represents one of the greatest opportunities both medically and financially.
It is gratifying that the longevity theme is reaching and engaging an increasing number of people. Apparently, this includes the CIO of MBaer Bank. «The Worship of longevity», was the title of his article published on finews.com, which, from our perspective, is based on a misunderstanding.
The very concept of longevity aims at the extension of the healthy lifespan, that is, the time during which we can live without age-related diseases. It is correct to say that a longer life without better health and prolonged youthfulness is rather pointless. However, this is not what we understand by longevity.
The article correctly argues with the statement that most cultures have been grappling with the idea of eternal life and eternal youth since ancient times. What is new, however, is that for about 30 years now, we have been understanding the causes of aging.
«Simply put: errors occur more frequently during cell division, leading to inaccurate cell copies»
In his scientific paper «Hallmarks of Aging», published by the «Cell Magazin» in November 2013, Professor Carlos Lopez-Otin identified nine reasons for human aging. In 2023, the same group of researchers added three additional «Hallmarks of Aging» to the causes; thus, today we speak of twelve causes of aging at the cellular level.
Simply put: errors occur more frequently during cell division, leading to inaccurate cell copies. If these errors can be prevented, we do not age.
Once the causes of a problem are known (here: aging), solutions can be developed. In the field of longevity research, this has been happening breathtakingly fast since 2013. Around the world, research groups, laboratories, and institutes have emerged dedicated to longevity research.
«Today, cell rejuvenation can effectively address many of the ‹Hallmarks problems›»
For instance in Switzerland (ETH and University of Zurich), as well as at the Weizmann Institute in Israel, Harvard Medical School, National University of Singapore, and many more institutions.
What is encouraging is that we are no longer in the phase of basic research but can demonstrate through clinical studies that cell rejuvenation is possible for some, and slowing down the aging process is achievable for many of the «Hallmarks» issues today (and not just for the «super-rich,» as the tabloid press often likes to suggest).
The goal is always to extend the healthy lifespan, the time during which we can live without age-related diseases (such as cancer, Alzheimer's, Parkinson's, type 2 diabetes, cardiovascular diseases). Eternal life is not the objective.
«Affordable genetic tests reveal an individual's longevity time span»
The author of the aforementioned essay is correct in arguing that eating less and healthier food, getting enough sleep, and exercising promote healthy longevity. He also points out the fortunate individuals who possess longevity genes.
Now, it gets interesting: Today, with affordable genetic tests, we can identify these longevity genes in every person – the good news is that we all have some of these «super genes.» The key is to activate them and keep the negative genes inactive.
Today, we know quite well how to activate individual genes and also how to suppress negative genes. This is the field of epigenetics.
«What happens when we live longer in good health?»
If the author of the mentioned article wishes to undergo a genetic and ideally also a blood test at the newly opened Longevity Clinic AYUN on Uraniastrasse in Zurich (I hereby warmly invite him at my expense), the doctors and geneticists will be able to accurately outline to him which longevity interventions are specifically beneficial for him. A data-based, personalized prevention can then be implemented directly on-site at AYUN.
So what happens now when we live longer in good health? Some people suspect that we will be increasingly confronted with neurodegenerative diseases. However, things are being mixed up: If we were to simply live longer and be kept alive with ever newer and more medications, then the author would be correct.
Neurodegenerative diseases such as Alzheimer's or Parkinson's are age-related, meaning they occur more frequently in old age. However, longevity is about keeping our bodies (and our brains) young – so neurodegenerative diseases, just like cancer or type 2 diabetes, will occur less frequently, as they can be qualified as symptoms of the underlying disease, namely aging.
«Transition from sick-care society to health-care society»
This thought experiment also explains the transition from our existing sick-care society to a health-care society: In the future, we will keep ourselves young and healthy with personalized prevention, and no longer have to struggle with age-related diseases for twelve years of our senior years. Or as Ashley Montagu put it: «The idea is to die as young as possible, as late as possible.»
In Switzerland, the average life expectancy is currently 83,4 years (average of both genders), of which we spend twelve years with at least one age-related disease.
Now let's get to the core, namely the economic implications: According to a study published as an OECD Working Paper, 80 percent of healthcare costs are incurred for the care of chronic, age-related diseases in the final years of life.
«Queen Elizabeth' cause of death: ‹Old Age›»
With longevity, we can drastically reduce these costs: In the future, we will not need to be kept alive with expensive medications and machines (that is, sickcare), but will gently pass away due to the cause of death 'old age' after a healthy life. Just like Queen Elizabeth, whose death certificate stated ‹Old Age› as the cause of death.
It is worth noting in this context a study published in the journal «Nature Aging,» which shows that each additional year of healthy life expectancy results in an economic benefit of 38 trillion dollars.
But how should pension funds deal with longevity? Primarily, it is not about living longer, but about staying healthy longer.
«The bankers' turn»
Of course, a longer period of good health will also lead to several more years of life. I am asking, though: If I find myself in the healthy body of a 45-year-old, do I no longer want to work? Or do I rather want to work on something different?
I think that as a society, we must support people of all ages in constant learning and development, even starting a new profession. Lifelong learning is the key! And supporting people in building wealth so that they don't have to work 100 percent in their senior years certainly makes a lot of sense. Here is where the bankers can step in.
Not working at all – assuming one is fit – would be wrong: Numerous studies show that the social integration that comes with work positively affects the health and happiness of older people. The pension funds will thank you.
«Start with healthy and less food, and you'll even save some money»
Lastly, it should be noted that longevity is not only a field of research but also an investment opportunity: Alongside AI, it represents the largest and most potentially lucrative investment opportunity of the 21st century. Consider this: Who wouldn't want to stay young and healthy when the alternative is «old and sick»?
The willingness to pay is high as well: A study by UBS in 2020 among their very wealthy clients over 60 found that Ultra-High-Net-Worth Individuals (UHNWI) would be willing to part with around 50 percent of their total (!) wealth if it could buy them an additional ten years of healthy life.
The good news: You don't have to be one of the UHNWIs of UBS: From a few thousand francs a year, you have access to meaningful measures that work as longevity interventions. And of course: Start with healthy and less food, and you'll even save some money.
Tobias Reichmuth has been an entrepreneur since a young age and has invested in more than 20 startups. He sold his first one in 2003. Following that, he founded Europe's leading climate change infrastructure fund, SUSI Partners. He is a co-founder of the Crypto Finance Group and The Singularity Group. In 2020, he co-founded the Longevity Investors Conference and Maximon with Marc P. Bernegger. He is an angel investor in the Swiss TV investor show «Höhle der Löwen» (Swiss edition of «Shark Tank»).
