Psychedelics becoming legit mental health treatment — thanks to billionaires

Psychedelic drugs that have long fueled the party circuit are now poised to become a legit treatment for mental health – and you can partly thank free-thinking billionaires from Silicon Valley and Wall Street.

That tees up MDMA to be approved by the Food and Drug Administration as “breakthrough therapy” as soon as the first quarter of 2024.Elon Musk regularly microdoses on ketamine to treat depression Google co-founder Sergey Brin, meanwhile, is a fan of magic mushrooms, whose active ingredient is psilocybin. The late Steve Jobs was a vocal advocate of LSD and billionaire Peter Thiel has poured millions into ATAI Life Science, a firm that aims to use hallucinogens in medicine.

Still, the combination of funding research and publicly advocating for these drugs has meant the acceptance of psychedelic drugs has moved forward quickly. Other tech tycoons who have given millions to support psychedelic research include GoDaddy founder Bob Parsons.

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