Psychedelics could become extractive capitalism…
As psychedelic firms skyrocket in market cap, quick cashouts are extracting billions of dollars in value – with no benefit to society… I’ve questioned the incentives of those investing in the psychedelic space… financial motivations to make a quick exit.
These exits are ultimately extractive, and raise the cost of treatments, rendering them inaccessible to those already struggling under a system that perpetuates unjust paradigms of class, race, and privilege. In the latter case, healing becomes an unfortunate afterthought, despite the message of a company’s PR… All psychedelic investors should recognize… this can cause, in the words of a recent paper on intellectual property in psychedelics, “intergenerational distress and suffering…that could actively perpetuate mental illness, while cutting them off from rightful benefits derived from their intangible cultural heritages.”
Original Article (Doubleblind):
Psychedelics could become extractive capitalism – unless we hold stakeholders accountable
Artwork Fair Use: Alex Proimos