Joe C
by on August 7, 2019
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It is crazy to think a single word has been chosen to represent an entire class of substances, and the social, cultural, spiritual, artistic, philosophical, religious movement to integrate them into modern life. For some reason, psychedelic is the single word that has been chosen for this purpose and therefore it is supremely valuable. Furthermore, it is too late to switch psychedelic out for a new word. Psychedelic has 100% of the momentum in defining this societal movement.

The marijuana industry in the USA is now worth billions of dollars. There is a growing movement to legalize psychedelics in some form or another. It is not clear exactly what the legal framework for psychedelics will be, but it seems inevitable that some sort of legalization will happen. This article is about the economics of the word “psychedelic”. I believe psychedelic is a uniquely valuable word from a business perspective.

The word psychedelic is unique. There is no word that can be used reliably in its place. The word hallucinogen is far less marketable and has far different connotations. This means there is a lot of value packed into one word. This word essentially has a monopoly on its meaning.

Psychedelics are a broad category of substances, unlike marijuana which is a single plant. Psychedelics include LSD, DMT, psilocybin, mescaline, ayahuasca, ibogaine and more. In theory, an industry of psychedelics could be far larger than that of marijuana. Arguably, psychedelic is a category which includes marijuana. This is a statement I personally agree with.

Psychedelic has relevance to many fields of human endeavor such as philosophy, art, music, fashion, culture, religion, sexuality, etc. There is no other word with so much diverse meaning and cultural relevance packed into a single word. This word is valuable because it is so all-encompassing. There are endless possibilities for creating businesses branded with the term psychedelic.

Psychedelic is a popular and hip word. There is something about this word that everyone from hippies to academics is comfortable with. It is simultaneously casual and technical. You sound smart and you sound cool at the same time. From a marketing perspective, this is everything.

This is what makes psychedelic domain names so potentially valuable. Since a domain can only be registered once, there is scarcity. Domain name investors are always looking for the next profitable niche. I am shocked at how few domain investors even think about psychedelic domain names.

Amazon’s stock IPO was $18 per share. It is now $1787 per share as of writing this. What is the next Amazon? What industry is small or nonexistent today that is likely to be worth billions in the future? To me the psychedelic industry is the clear answer. People who find a way to invest in psychedelics very early may have a reasonable chance of getting rich. There will also be people who lose a lot of money, as with anything. There are no sure things in life, but if I am going to gamble, I will place my money on psychedelics and the word "psychedelic".

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