/biz/ - Business & Finance

>>53686095
>Link to interview - https://open.spotify.com/episode/7kPL28YPtsamJXL2N8TMfm?si=6da0f2deda5a43e5
Another thing he talked about in the interview was how every other psychedelic company is a biotech every other company is a biotech and they have huge cash burn rates with no revenue

>"What we are making a play it is revenues, near term revenues. So to increase shareholder value, and not to burn through your capital at expeditious rates, which quite frankly, I'm not saying this in any negative light, but a lot of companies have within the space within the sector. Lot of people raised a lot of money.

>And because they were more drug discovery, and because they're more biotech models, and because it's getting to Phase 2s and things, man, that's expensive, it's a long process and it's a tough process, it's not easy. And by the way, once you start competing with big pharma who have all the dough becomes even a bigger process.

>So, our approach, like I said, with just being recreational in the Netherlands, where we can, but then how do you not just burn through money? Well, you try to get into revenues now. And the mushrooms really fit that.


In other words, just as we suspected, the majority of biotechs are most likely fucked because it's such a shitty business model. TRUFF really is the only real psychedelic stock that's actually earning revenue now and will be able to take full advantage of what's coming in the sector. Psychedelic stocks such as MNMD (pic related) are going to run out of money and are NGMI. They are scam companies that are created to IPO and harvest money from dumb investors on false promises of creating the next amazing drug.