In this week’s Diamond Hands Podcast #12, we speak with TDR Lead Financial Writer Benjamin A. Smith and millenial entrepreneur Anthony Varrell about crypto, cannabis and psychedelics. On the agenda: NFTs are the emergence of Web 3.0; This past week’s strong rally in U.S. cannabis stocks and where we go from here; and the recent Wonderland Psychedelic Conference and COMPASS Pathways Phase 2b results.
Episode #12 CliffsNotes…
@1:43-4:13 Anthony attended NFT.NYC conference and has his thoughts and takeaways from the event. He comes away bullish of the future of the industry,
@4:14-8:25 Anthony opines on the difference between Web 2.0 and the emergence of Web 3.0, where users own their own data and maintain their own profiles online. The third party data aggregators are cut out of the equation.
@8:26-10:32 Gary Vaynerchuk said this past week that the whole music industry would be turned upside-down by NFTs. The panel chimes in for what this could mean for content producers and purchasers of NFTs.
@10:33-13:41 Big Network talk show host Jimmy Fallon purchases his first NFT this week.
@13:42-14:44 Talk about NFT “floors” and what that means for investors when a floor gets swept.
@17:03-18:36 The bottom line: Why are NFTs important to investors and what should they being doing about the technological shift that is happening.
@19:30-23:08 MSOS had a very strong rally last week, backed by the belief that SAFE Banking will be included in the National Defense Authorization Act (NDAA). Clearly, a sea change in sentiment as seen on the chart was observed. We discuss these narratives further.
@24:14-27:26 If SAFE Banking gets included in the NDAA with existing cannabis banking language, this will have a very positive effect on the market. Trulieve Cannabis and Verano Holdings earnings this week will be interesting.
@27:38-29:37 Takeaways from the Wonderland Psychedelic Conference from Anthony, who attended the event. Hearing that many Big Pharma companies will have psychedelic divisions within the next 3-5 years.
@29:38-30:59 Discussion of the parallels of resistance seen between Big Pharma’s impending involvement in psychedelics and that of Big Cannabis in Canada as the Canadian market started taking off.
@34:40-37:06 We discuss the run-up and steep selloff following COMPASS Pathways Phase 2b results. The primary endpoint at the high dose was certainly positive, although some ancillary questions remained. Profit takers controlled the action as a result.
@37:07-39:10 Rumors abounded at Wonderland surrounding Cybin. They released positive news, although investors were perhaps expecting something more.
@39:23-41:03 Some small-to-mid sized psychedelic companies are going to need to raise money to continue operations. Anthony weighs-in about what to expect with the mid-tier of the industry.
Listen to the end to for our short-to-intermediate term picks.