Psychedelic Capitalism Takes a Trip to Davos

For decades, the quiet Swiss town of Davos has been synonymous with the elites of capitalism. 

Each year, the Alpine resort town hosts an event called the World Economic Forum, commonly referred to as the Davos Forum. Here, captains of industry, the mega-rich, politicians, and celebrities fly in on private planes to discuss, among other things, the dangers of climate change.

This year, however, the trip is becoming more, well, trippy.

From May 21-26, for the first time, Davos will feature The House of Psychedelics, which according to Bloomberg, is a “program with almost 40 sessions and speakers, including researchers, entrepreneurs, investors—and some who consider themselves shamans.”

Sponsors of The House of Psychedelics include public companies such as Field Trip Health, Irwin Naturals, and the Peter Thiel-backed Compass Pathways. It is being hosted by New York-based company, Energia Holdings Incorporated.

The House will teach rich globetrotters how to do breath work, how to get rooted in your body, and what the mental health benefits of taking psychedelics may be. It is essential to note that no psychedelics will be given in Davos, as they are still illegal in Switzerland.

The companies involved in the House of Psychedelics will also be talking up the potential investment opportunities to the rich and powerful, but surely—SURELY—that will take a back seat to the potential for helping people.

To be clear, the House of Psychedelics is not actually part of the agenda for the World Economic Forum. Instead, they have rented out a space in Davo’s main promenade, which Bloomberg says “traditionally showcases Fortune 500 companies to the conference’s attendees.”

So, while it is not part of the core event, the rich and powerful will likely take a break from discussing the economic and political framework of our societies, to see how they can profit off of a potential revolution in mental healthcare improve global mental health.

Nevertheless, this could actually shape up to be a big moment for psychedelics. As Marik Hazan, CEO of Energia Holdings, says, “This is a one-of-a-kind opportunity for the medical psychedelics ecosystem to stand on the international stage for the first time in front of the world’s most powerful leaders.”

In other words, like it or not, decision-makers and the influential will be attending this conference and by being present, psychedelic companies and advocates can put the evidence in front of them that psychedelic therapies can effectively treat multiple mental health conditions, from PTSD, to depression, to anxiety. This may help push Western politicians to be more open to the idea of both legalizing psychedelic medicines, and decriminalizing psychedelics more broadly.

Plus, much more research needs to be done into psychedelic healing before we can be certain of their effects, which is going to cost hundreds of millions of dollars. Where better to raise these funds than the playground of billionaires?