Here’s what the success and failures of cannabis industry can teach those in the psychedelic space about a healthy relationship to profit.
In cannabis, we’ve seen an unhealthy relationship with profit and investment that has created consolidation of the market, perverse incentives, and is slowly driving the lovers and believers out of the game only to be replaced by traditional business fundamentals of “scale,” “ROI,” and “exit strategies.” Legacy operators are increasingly replaced with multistate operators, traditional venture capitalists, and Canadian public company management or ownership. For psychedelics, we have a chance to do this better.
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How Tripping Can Help Us Reimagine Capitalism Ahead of Psychedelic Commercialization