We’re in a period that I think of as the commercialization of psychedelics. As with cannabis, it began with the active promotion of mind-altering substances for a variety of medical and therapeutic uses. I’d have to say that was successful–– prominent figures in government and the scientific community have lent their support, and many in the media have joined in as well.
Sometimes enthusiasm gets the best of us. I just came across an article on a mainstream news site concerning the miraculous benefits from a single treatment with the “natural“ hallucinogen ibogaine on a patient chronically addicted to heroin. Allegedly, that single exposure relieved the patient of all desire for the drug.
From one treatment? That would certainly qualify as a “miracle”, if indeed true. I’m afraid I’m skeptical.
A few years ago, a young entrepreneur explained to me that medical use was never the ultimate goal of those who sought to commercialize psychedelic drugs. Therapy was fine, he claimed, but the real attraction is in the potential for great wealth. He described himself as an experienced psychonaut, but his current interest lay in claiming his place in a rapidly emerging “psychedelic industry.”
Since many of the drugs cost almost nothing to produce, he argued, then once legalized, they would generate extraordinary profit margins. “Nothing wrong with getting rich yourself while you’re doing good things for the public,” he insisted.
So who’s leading the campaign for commercialization? Big Tech is a player. A simple web search will bring up all kinds of results about psychedelic stocks and who’s the front of the line to invest. There’s big money out there.
For instance, Antonio Gracias, allegedly Elon Musk’s best friend and a multibillionaire investor in his own right, reportedly forked over $25 million to recapitalize a company that was actively seeking FDA approval for MDMA-assisted therapies. Later on, he donated $16 million to establish a dedicated professorship/ research program at Harvard.
I recall reading about workshops in Silicon Valley where senior executives of tech firms could enjoy three days of ketamine-assisted self-exploration (meals included). If you’re curious: a link to an article in Fortune:
Here’s a look into Silicon Valley’s ‘executive psychedelic slumber parties’ that cost over $3,000
The workshop leader is quoted as describing his patrons as “the loneliest people.”
