Psychedelics and the Mental Health Research Boom

This 2020 Bloomberg Originals documentary looks at why psychedelics such as LSD, psilocybin, DMT, and MDMA are drawing renewed scientific and investor interest as mental health treatments. It moves from ancient ritual use through decades of prohibition to current neuroscience, reporting on the shift rather than endorsing use. The science, especially on mechanism, is treated as still developing.

A treatment model unchanged for decades

Mental health treatment has relied mainly on psychotherapy and SSRIs since the 1980s, with side effects and long-term use common. The documentary frames psychedelics as a possible disruption, citing a 2020 Oregon ballot measure that authorized licensed providers to administer psilocybin, part of a wider shift covered in Psylopedia's guide to psychedelic laws by country.

Ancient roots, a modern ban

The word "psychedelic" comes from Greek roots meaning "mind manifesting." The film traces early use to the Eleusinian Mysteries (roughly 1600 BCE to 396 CE), where a potion called kykeon has been linked by scholars to LSD-like effects. Rick Doblin, founder of MAPS, describes entering the field in 1972, just before the 1970 Controlled Substances Act halted research for decades. MAPS now runs phase III trials of MDMA-assisted therapy for PTSD. "We're in a major psychedelic renaissance right now," Doblin says.

What the brain may be doing

Dr. Charles Nichols, a pharmacology professor at Louisiana State University, explains that psychedelics act on the serotonin 2A receptor, whose activation is linked to positive effects in early research. He describes brain regions that "don't normally talk to one another" forming new connections, tied to a theory that networks reset toward typical connectivity after a trip, a pattern also studied via the default mode network. In rat models, a single dose of psilocybin reversed depression-like behavior, though this does not explain the subjective trip.

Rethinking the therapy session

Shlomi Raz, CEO of Eleusis, argues clinical rollout should draw on the respect built into shamanic traditions such as ayahuasca ceremonies, warning that rushing to commercialize risks losing it. He suggests the person present need not be a psychiatrist or clinician, but an "attendant" who offers safety and comfort during emotionally intense moments. The film also notes early, preliminary research suggesting minute LSD doses may have anti-inflammatory effects relevant to asthma and migraine.

Investment and open questions

Investors interviewed describe the sector as a threat to the roughly $16 billion antidepressant market, citing efficacy rates as high as 70 to 80 percent for some compounds, figures the film attributes to industry sources, not peer-reviewed consensus. Sa'ad Shaw, who leads the venture fund Noetic, calls his interest personal, citing an experience with plant medicine and its apparent effects on people with cancer, treatment-resistant depression, and PTSD. The film closes by noting Big Pharma could provide distribution scale, but draws a parallel to the opioid crisis and calls for rethinking how profit is measured.

Key takeaways

• ●Mental health treatment has leaned on psychotherapy and SSRIs since the 1980s; the film frames psychedelics as a possible disruption.
• ●"Psychedelic" comes from Greek roots meaning "mind manifesting"; ritual use is traced to the Eleusinian Mysteries.
• ●The 1970 Controlled Substances Act criminalized psychedelics in the U.S., stalling research for decades until MAPS, founded by Rick Doblin in 1986, began phase III trials of MDMA-assisted therapy for PTSD.
• ●Researcher Charles Nichols ties psychedelic effects to serotonin 2A receptor activity and new connections between brain regions.
• ●Rat studies cited in the film found a single psilocybin dose reduced depression-like behavior; this does not explain the subjective trip.
• ●Eleusis CEO Shlomi Raz argues a trained attendant, not necessarily a clinician, may be central to a session, echoing shamanic practice.
• ●Investors frame psychedelics as a threat to the antidepressant market, while the film cautions that scaling responsibly may require rethinking profit incentives.