Psychedelic… get-rich-quick schemes – a benefit to investors, a harm to progress
Frankly, this seems antithetical to the mission that many of the companies entering this space claim to have: increasing access to patients, offering reasonable prices, and working for the betterment of humanity … In the best of circumstances what emerges is a duopoly. Think Intel vs. AMD in the chip market.” Or, Apple vs. Android; Coca-Cola vs. Pepsi; Boeing vs. Airbus; and so on.
The issue with patents is that they can lead to monopolies and domination. (Former PayPal co-founder, current mass surveillance magnate, and newly minted psychedelic investor, Peter Thiel, has even gone on the record saying that he thinks monopolies are a good thing.) What both of these factors (IP and trend investing) could mean for psychedelics, in the long run, is that progress in the field could be halted or cut short as a result of financial gaming. This could be due to companies battling it out in court over IP disputes, which we have already seen happen with ibogaine in the 1990’s.
Original Article (Psymposia):
Psychedelic trade secrets and get-rich-quick schemes – a benefit to investors, a harm to progress
Artwork Fair Use: Krzysztof Blachnicki