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Last summer, thousands of tie-dyed Burners and Patagonia-clad tech founders converged on the MAPS Psychedelic Science conference in Denver. The experience "broke the spell of this trauma, and she was able to rebuild her life," Doblin told The Guardian . The video team's job was to store recordings of every MDMA therapy session performed in the clinical trials. Grof believes in something called an "inner healing intelligence," an innate capacity for self-healing that psychedelic therapy helps unleash. Another time, a patient who had come to an MDMA therapy session later acknowledged they had been under the influence of LSD during treatment.
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In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.
Persons: , Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago
His experience inspired him to focus his investment firm on backing psychedelic startups. But VCs, including Smith, are still betting big on startups in the space that seem especially promising. It wasn't until he tried psychedelics — including Ayahuasca, a plant-derived hallucinogenic drink, and iboga, an African root bark — that his mental health finally improved. Energized by his own experience, Smith reworked his cannabis-focused VC firm Ultranative into a one-stop-shop for psychedelic startups. Smith and Ultranative are far from the only investors pumping money into psychedelic startups.
Persons: Ford Smith, wean, South America —, Ayahuasca, Ultranative, Smith, didn't, Lyme, psychedelics, Rick Doblin, he's Organizations: innovating, Venture, Anonymous, Multidisciplinary Association for Psychedelic Studies, pharma, FDA, PsyMed Ventures, Lionheart Ventures, Iter Investments, Neo Kuma Ventures, Therapeutics Locations: Austin, South America, U.S, Oregon, Colorado, psychedelics, Texas, Los Angeles, Massachusetts
Today, Compass Pathways, the for-profit company they launched in 2016, is a Nasdaq-listed firm worth about $400 million. Compass Pathways Show lessIt could also boost the dozens of psychedelics companies inspired by Compass that have been formed in recent years. Insider spoke with more than a dozen industry participants to chart the rise of Compass Pathways and its role in the psychedelics boom. He recalled the 2018 Quartz article that detailed the growing alarm around Compass Pathways' "magic mushroom monopoly." Were it not for his decision to take a break from college, and his parents' efforts to find a treatment, Compass Pathways might not exist.
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