Personal Finance
Author and podcast host Tim Ferriss has done his share of heavy lifting when it comes to supporting and promoting research on psychedelic drugs. He’s invested millions of his own, and also organized half the $17 million in commitments it took to start up the Johns Hopkins Center for Psychedelic & Consciousness Research. While his efforts highlight the reality that psychedelic therapy, like any other medical treatment, requires significant amounts of money for research, Ferriss recently tweeted his apprehension about a side effect of the growing money-generating psychedelic market.
“I am very concerned by the patent land grab warming up in the for-profit psychedelic world,” he wrote, asking publicly if there was any coalition of pro-bono lawyers who could intervene “when companies attempt to secure broad patents that could hinder scientific research, reasonable competition…and so on?”
Patent announcements are hard to miss in the psychedelic field these days. Most recently, as Troy Farah wrote in Future Human, the biotech startup CaaMTech was granted a patent for the combination of cannabis and psilocybin. A patent application from mental health company Compass Pathways garnered attention for including claims on very basic elements of psychedelic psychotherapy—from holding hands to using soft furniture.
That cushioned the blow of the pandemic, but raises some hard questions about what Canada got for all that spending.
The economy shrank 5.4% last year, Statistics Canada said Tuesday, the sharpest annual decline in the post-World War II era and the third straight year in which it underperformed the U.S. economy. That’s despite Canadians receiving C$20 ($16.55) in government transfers for every dollar of income lost, according to government data.
Treated to larger handouts, Canadians mostly hoarded them, potentially opening Trudeau’s government to criticism it has wasted money on programs that spread cash quickly but inefficiently. As one opposition lawmaker likes to put it: “The government spent the most to achieve the least.”
Neil McIver of McIver Capital Management joins Michael on the show to share that we are at an inflection point that requires investors to urgently re-balance their portfolios. This was one of the themes in Neil’s 2021 World Outlook Financial Conference workshop – Beating the Market in 2021 & What Institutions Know That You Don’t. This workshop is the #1 most watched presentation from the Conference.
As a special bonus for our MoneyTalks audience we’re able to offer you free access to Neil’s full video presentation. CLICK to Access
The first ever online broadcast of the World Outlook Financial Conference this past weekend was fantastic. The on-demand archive is now available – don’t miss the stock picks, the market forecasts, the economic analysis, plus terrific Precious Metal, Small Cap and Personal Portfolio investing workshops. CLICK HERE to get your access codes right away.
Under a bill proposed by Democratic Rep. Noel Frame of Seattle, a 1% tax would be levied on “extraordinary” intangible financial assets held anywhere in the world – including cash, stocks, bonds, publicly traded options and futures contracts, according to ABC News. The first $1 billion would be exempt from the tax.
Forbes magazine says about a dozen of the richest people in the world live in Washington state, including Bezos and Gates, who top the global list after making their fortunes from their respective tech companies, Amazon and Microsoft.
About 100 taxpayers in the state have wealth in excess of $1 billion, according to the state Department of Revenue. –ABC News
“It actually really isn’t about them, it’s about the working people of Washington who right now are disproportionally paying for community investments like public education, public health, you name it,” said Frame, adding “This is about equality in the tax code.” She says that her proposal would bring in an estimated $2.5 billion to the state every year, and would be imposed beginning January 1, 2022 for taxes due in 2023.
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