Bridging Worlds: The Pioneering Dialogue at the Cannabis & Psychedelics Summit
Natanya Wachtel, PhD.
NewSolutionsNetwork I evrmore.io | Philter Labs | CHOPRA Foundation I WomenWhoCreate | Advocate | #GAMEMINDSET I National Science Foundation I Podcast Host I DEI Champion | Mycology Superfan I Psych+Hip Hop
As a behavioral scientist and life sciences customer marketing and commercialization professional, my journey into the world of psychedelics began only a few days ago in Miami at the Wonderland Conference . This significant career pivot led me to the Cannabis & Psychedelics Investment Summit, masterfully led by Noa Kahner of Kahner Global . This event was not just another summit; it emerged as a thrilling portal into a new realm. Meeting and connecting with Noa just days prior Wonderland, her invitation to the summit felt like diving into an ocean of possibilities - a dynamic world where innovation meets tradition, and science intertwines with wisdom. Hosted at CohnReznick LLP (CohnReznick.com ) with the support of Pelorus Capital Group (PelorusCapitalGroup.com ), the summit promised an exploration of uncharted territories in psychedelics and cannabis.
An Encounter with Familiar Faces and New Insights
At the summit, a familiar face greeted me - Chris Denson , a connection reignited from our meeting at the Fast Company Innovation Festival. This unexpected reunion was more than mere coincidence; it was a sign of being in the right place at the right time, setting the tone for an event filled with enlightening exchanges and insights. Moderating the panel, Chris Denson guided us into a profound discussion on branding within the psychedelics and cannabis industry, where the unique challenges faced in this sector, especially in light of the stringent regulations in the U.S., were a primary focus.
In-Depth Insights from the Panel Discussion
The panel, which I had the privilege of participating in alongside Ari Katz , focused on the need for specialized branding and marketing strategies for different customer groups in the psychedelics and cannabis industries. We discussed the unique challenges and approaches needed for patients, healthcare providers, banks, and governments, emphasizing the nuances of fear, stigma, misinformation, and competing interests that differentiate these groups.
Charting the Course in Psychedelics and Cannabis: A Data-Driven Perspective
The summit marked a significant milestone in the rapidly evolving sectors of psychedelics and cannabis. It gathered a constellation of industry experts, entrepreneurs, and investors, each contributing their unique insights and ideas.
The Impact and Market Potential: A Statistical Overview The statistics paint a stark yet crucial picture, underscoring an escalating need in mental health, longevity, and overall well-being. With the aging population, increasing mental health issues, and the rising prevalence of conditions like dementia and Alzheimer's, the imperative for innovative solutions becomes ever more pronounced.
Psychedelics and cannabis, emerging as promising avenues in this evolving landscape, offer hope and potential for addressing these significant health challenges. Their role in this context not only highlights the pressing need for their exploration and acceptance but also underscores the significance of the summit's discussions in shaping a path forward.
The U.S. and global market valuations in both cannabis and psychedelics sectors highlight not just economic potential but a paradigm shift towards more enlightened, healing-focused societies, especially in the post-COVID era. The exponential growth of these markets signifies a collective acknowledgment of their potential in addressing some of the most pressing health issues of our time.
The summit's discussions and collaborations underscore a crucial truth: the need for collective action and investment in these areas is more pressing than ever. With increasing awareness and acceptance, these industries represent not just promising economic opportunities but also hold the key to revolutionizing healthcare and treatment paradigms.
For those eager to be a part of this transformative journey, whether through research, commercialization, marketing, or funding, the opportunity to engage and contribute to this evolving landscape is immense.
A Kaleidoscope of Opportunities: Legislative Changes and Investment Horizons
The summit's discussions ventured beyond the scientific and medical aspects, touching upon the evolving legal landscape and investment opportunities in the psychedelics and cannabis industries. Key talks revolved around the crucial infrastructure for these markets, with a particular focus on funding. Updates on legislative changes hinted at new horizons for investment and regulatory shifts, ranging from scheduling changes to tax implications. This broad spectrum of topics offered industry players a glimpse into a future filled with diverse opportunities.
Connecting with Industry Leaders: Collaborative Ventures and Idea Exchanges
A highlight of the summit was the engagement with industry leaders, which provided fertile ground for exchanging ideas and forging collaborative ventures. A nod of gratitude goes to @Noa Kahner for the panel invitation, where I had the opportunity to delve into the complexities of branding in these unique markets. The panel discussions unveiled the need for navigating the intricate maze of biases and stigmas in the industry, underscoring the importance of understanding barriers from various stakeholders, including funders, governments, clinicians, and consumers.
The urgency and scope of these industries are clearly articulated through the statistics. The aging population necessitates a focus on longevity research, aiming to enhance life quality rather than merely extending lifespan. The mental health crisis, exacerbated by conditions like dementia, calls for novel and effective treatments. Psychedelics offer a promising solution, providing peace and a sense of community.
The U.S. psychedelics industry is witnessing exponential growth, paralleled by the cannabis sector, which includes burgeoning niches like cannabis beverages. These industries represent not just economic potential but a shift towards a more enlightened, healing-focused society, especially in the post-COVID era.
The Intersection of Technology and AI with Psychedelics and Cannabis
The summit also highlighted the intersection of technology and AI with these industries, emphasizing the need for enhanced digital integration. This pioneering movement is ripe with opportunities for research, commercialization, marketing, and funding.
The Need for Collective Action and Investment
The discussions at the summit underscored a crucial truth: the need for collective action and investment in these areas is more pressing than ever. With increasing awareness and acceptance, these industries are not just economically promising but also hold the key to addressing some of the most challenging health issues of our time.
For those eager to be a part of this transformative journey, whether through research, commercialization, marketing, or funding, I am open to collaborations that drive forward these crucial industries. The angel pitching round at the summit revealed the immense potential of emerging companies, and I am excited to contribute to this evolving landscape.
Together, we can embark on a path of enlightenment and healing, leveraging the incredible potential of psychedelics and cannabis to create a healthier, more connected world.
The Urgent Need for Industry Evolution
Discussions at the summit reinforced the urgent need for evolution within the psychedelics and cannabis industries. The conversations highlighted the potential of these industries to act as catalysts for healing, particularly in the wake of the collective trauma induced by the COVID-19 pandemic.
The Evolving Landscape of Psychedelic Substance Regulation
In recent years, there has been a significant shift in the perception and legal status of psychedelic substances. For example: Denver's 2019 decriminalization of psilocybin-containing mushrooms marked a historic milestone, paving the way for broader initiatives, such as Colorado's Natural Medicine Health Act (Prop. 122), aiming to legalize and expand access to these substances. Psychedelics like psilocybin have shown promise in treating conditions such as depression, anxiety, and PTSD, sparking interest in their therapeutic potential.
Despite these advancements, psilocybin remains a Schedule 1 Controlled Substance at the federal level in the U.S., classified alongside drugs like heroin and LSD. This classification presents a significant challenge, as it conflicts with the growing body of research and public opinion supporting the medical use of psychedelics. Colorado's Proposition 122, similar to Oregon's earlier measure, seeks to decriminalize personal possession and establish therapeutic centers, reflecting a growing trend towards reevaluating the role of psychedelics in society.
The proposed treatment centers under Proposition 122 aim to provide a safer, legal, and more accessible framework for the use of psilocybin-containing mushrooms. The proposition has sparked debates within the psychedelic community, with some expressing concerns about potential commercialization and the need for equitable policy-making. Advocacy groups emphasize the importance of community voices in shaping psychedelic policies and ensuring ethical medicine stewardship.
Supporters of Proposition 122 argue that it could offer a new avenue for economic development and provide an alternative treatment option for those in need, without requiring pre-existing conditions. The measure also proposes an advisory board to oversee regulations and the expansion of access to other substances like DMT, Ibogaine, and Mescaline, considering their cultural and therapeutic significance.
Opponents, however, raise concerns about the potential for over-commercialization and the need for grassroots representation. They advocate for a more community-centered approach, emphasizing the importance of ethical frameworks and diverse stakeholder involvement in policy implementation.
Spotlighting Some More of the Speakers, Industry Innovators:
The event featured a wide range of voices from the industry, each bringing unique perspectives and insights. The diversity of speakers underscored the multifaceted nature of this industry and its potential to impact various aspects of society and health.
David Feldman: A Visionary in Cannabis Finance
David Feldman stands out as a notable figure in the cannabis finance world. With over 30 years of experience as a lawyer, advisor, and entrepreneur, David has authored four books on finance and entrepreneurship. He is renowned as one of the leading cannabis finance attorneys in the U.S., having recently served as Co-Lead of the Cannabis Practice Group at a major law firm. His articles on cannabis finance reflect his deep expertise and vision for the industry, including insights on distressed cannabis/psychedelics acquisition and the necessity of federal legalization of medical cannabis in the U.S.
During the summit, David and I shared our experiences from Wonderland, where we didn't meet, but we quickly formed a connection at this event as if we were old friends. Our conversation extended into personal stories and a shared vision for changes needed in the healthcare industry, especially legal and financial reforms in the U.S. to facilitate access to psychedelic treatments.
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Lisa Ireland: Leading in Longevity Science
Lisa Ireland , as President and CEO of the Longevity Science Foundation , brought a unique perspective to the summit. Her background in non-profit management and her role in longevity science highlight the untapped potential in this field. Lisa's approach to bringing more outsiders into longevity, emphasizing layman’s education, and her advocacy for policy and advocacy conversations in Washington DC, underscore her commitment to expanding knowledge and access in the field of longevity. Her insights at the summit reflected her dedication to advancing longevity science and the role of psychedelics in various treatment paradigms.
Peggy Van De Plassche: From Finance to Fungi
Peggy Van De Plassche , with her extensive background in the financial services and technology industries, shared a compelling narrative of transformation. After two decades as an executive and venture capitalist, Peggy’s journey from finance to fungi has led her to guide high performers in enhancing their performance through alternative medicines, particularly psychedelics. Her personal story of overcoming anxiety and depression, and her discovery of the benefits of microdosing psilocybin, resonated deeply. Peggy's transition to focusing on psychedelics in her advisory business, coupled with her dedication to writing and speaking on the topic, underscores the transformative power of these substances.
Raad Seraj: Championing Consciousness in Psychedelics
Raad Seraj , the founder of Mission Club , an angel investor network, is a prominent figure in the psychedelic space. His talk at the summit centered on the convergence of community, consciousness, and capital in the emerging ecosystem of psychedelics. Raad shared valuable insights on the importance of diversifying narratives in psychedelics and respecting analog approaches like shamanic rituals. He also discussed the intersection of technology and psychedelics, underscoring the opportunities and challenges of this convergence. His vision for a sustainable and equitable ecosystem in psychedelic therapies emphasizes accessibility and inclusivity, marking a significant step forward in mental health treatment.
Bruce Linton: Cannabis Industry's Trailblazing Entrepreneur and Mentor
Bruce Linton , co-founder of Canopy Growth Corp., is a towering figure in the cannabis world. His journey from establishing Canopy Growth as a global leader in the cannabis industry to his ventures in supporting and mentoring startups is nothing short of extraordinary. Known for his visionary leadership, Bruce has multiple patents in the cannabis field and is a vocal advocate for the legalization and regulation of cannabis. His philanthropic efforts, background in tech entrepreneurship, and active role in mentoring startups reflect his commitment to nurturing the industry. Bruce's presence at the summit, sharing his insights and experiences, added a layer of depth and expertise that was invaluable.
Shelby Clark: Innovator of Human Resilience and Startups
Shelby Clark , Partner at Lionheart Ventures , brought a uniquely personal touch to the summit. His approachable demeanor and willingness to share his personal story resonated deeply with attendees. Shelby's journey from founding Turo to his involvement in startups focusing on human resilience reflects a meaningful shift in entrepreneurial focus. His insights into building businesses that make a significant impact on humanity and his transition to investing in emerging medicines added a profound layer to the discussions at the summit.
Vic Pirotsky: Vanguard of Biotech and Healthtech Investment
Vic Pirotsky , the founder of xDNA, brought a unique perspective to the summit with his tough but fair critiques. His venture capital firm, specializing in early-stage biotech and healthtech investments, reflects his deep understanding of the industry. Vic's challenging questions and critical viewpoints, particularly towards some of the financial positions and big banks' roles in the industry, provided an essential balance to the discussions. His insights underscored the need for rigorous evaluation and thoughtful consideration in the burgeoning field of psychedelics and cannabis.
Michael Rubinov: Trailblazer in CBD-Based Eye Care Solutions
Michael Rubinov , CEO of 3R Pharma LTD , with his extensive background in global business development and strategic management, particularly in the high-tech industry, has now been directed towards a new venture in the realm of medical cannabis. 3R Pharma stands out for its focus on utilizing CBD for eye care, specifically targeting dry eye disease. This condition has a significant global prevalence, estimated at 11.59%, with variations across different regions and demographics. The higher incidence among women and in certain geographic areas like Africa highlights the vast potential for effective treatments. Rubinov’s company is at the forefront of this, leveraging the therapeutic potential of CBD in a domain that has a far-reaching impact on people's lives. In the lead-up to the summit, I had the opportunity to engage in a personal discussion with Michael Rubinov that delved into his personal experiences and his profound interest in neuroscience, particularly neurogenesis. Michael's queries and insights into these areas revealed a deep curiosity and commitment to understanding the intricate workings of the brain, a passion that clearly informs his professional endeavors in medical cannabis and eye care.
A Heartfelt Thanks to all of the Speakers and Participants
Wendy Diamond of LDP Ventures shares her experiences and insights, bringing a unique perspective on investment strategies in the psychedelics and cannabis sectors.
Rob Sechrist of Pelorus Capital Group discussed the intricacies of capital investment and development in these rapidly evolving markets, providing a deeper understanding of the financial landscape.
Saphira Galoob of The Liaison Group offered her expertise on legislative advocacy and policy development, highlighting the importance of informed policy-making in shaping the future of the psychedelics and cannabis industries.
Jay Levy of CohnReznick LLP , provided valuable insights into the financial and regulatory aspects of the industry, emphasizing the need for robust accounting and compliance practices.
John J. Pinto, CFA of SOJE Capital LLC moderated a panel that discussed the investment landscape, sharing his experiences and perspectives on funding innovative ventures in the psychedelics and cannabis space.
Matt Hawkins of Entourage Effect Capital delved into the nuances of investing in cannabis, discussing strategies for navigating the complex and evolving market landscape.
Jenny Joslin of High Herstory brought a creative and informative approach, sharing stories and experiences that highlight the cultural and societal aspects of cannabis.
Juan Carlos Pacheco of ExstoBio highlighted the scientific and technological advancements in cannabis and psychedelics, emphasizing the importance of research and development in driving industry growth.
Matt Karnes, CPA of GreenWave Advisors LLC & GreenWave Capital shared his analysis of market trends, providing valuable insights into the economic potential and growth trajectory of the psychedelics and cannabis industries.
Kevin McGovern of McGovern Capital LLC offered his perspective on the role of innovation and entrepreneurship in shaping the future of these sectors.
Mitch Kulick of Feuerstein Kulick LLP brought to the table his legal expertise, discussing the regulatory challenges and opportunities in the psychedelics and cannabis space.
Pasquale Patrone , Partner at CohnReznick LLP , shared his insights on the financial nuances and tax implications within the industry, highlighting the importance of sound fiscal strategies.
Brian Kessler of SBL Ventures provided his perspective on venture capital investments in the psychedelics and cannabis sectors, discussing strategies for identifying and supporting high-potential ventures.
Simeon Schnapper of JLS Fund shared his experiences and insights on the transformative potential of psychedelics, emphasizing the need for mindful investment and development in this space and his own persoal health journey which was illuminating.
Shadd Dales of The Dales Report provided insights into media and public relations strategies, discussing the importance of effective communication in shaping public perception and understanding of the industry.
David Flores of PSYC Corporation Dean Berlinerblau of Pathways PBC , Johannes Weimer of aarnt bioworks , Joshua Snyder , of SquaresCapital , Eleanor de Guigné of North Point Mergers and Acquisitions , each contributed their unique insights and expertise, adding depth and diversity to the discussions at the summit and more.
I extend my deepest gratitude to all the speakers and participants for their openness and the wealth of information they shared. The interactions and discussions at the summit were invaluable in enhancing our collective understanding of these evolving industries.
Embarking on a Collaborative Journey: Innovators and Visionaries Welcome
The Cannabis & Psychedelics Investment Summit transcended being merely an event; it was a nexus of groundbreaking ideas and shared wisdom. The diverse insights and stories we witnessed were not just informative but transformative, providing a gateway to a deeper understanding of the psychedelics and cannabis industries.
As I step into this vibrant and burgeoning field, my mission is to collaborate with like-minded innovators, forward-thinking funders, and visionary companies. There is a unique synergy waiting to be discovered between the nuanced worlds of behavioral science and the unexplored territories of psychedelics. If you share this passion for pioneering change and have a keen interest in integrating the rigor of clinical and pharmaceutical expertise with the dynamic world of psychedelics, your expertise and vision are invaluable.
Imagine the possibilities we could unlock together. Your insights, combined with innovative approaches in marketing and treatment, could help shape a new paradigm in healthcare and wellness. I warmly invite you to join me on this transformative journey.
Let's connect, collaborate, and co-create a future where our combined efforts lead to groundbreaking advancements and deeper understanding.
As I reflect on the summit, I am filled with gratitude for the remarkable individuals who shared their knowledge and experiences. Each conversation, each shared insight, was a piece of a larger puzzle, contributing to a richer, more comprehensive understanding of these industries. To all the speakers and participants, thank you for your openness and for being part of this enlightening journey.
Great to connect Natanya. Looking forward to staying in touch.
It was true fate for us to meet. Thank you for your take on the conference and for being a part of it. I hope you'll be able to join us at the next one!
Natanya, it was great to meet you. Great summary.
Global Nonprofit & Philanthropic Executive | Keynote Speaker | Thought Leader I Fundraising Strategist
1 年It was wonderful to meet you! Thank you for the great panel discussion and for the impactful work you are doing! I am excited to collaborate together in the future!
Great post thank you - wish I made it!