Practice English Speaking&Listening with: Kevin O'Leary talks MindMed and why he's invested in psychedelics

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hey guys yeah thank you so much very excited and and privileged and and you

know I'm excited to have our next guest on with us today mr. wonderful himself

is here Kevin O'Leary from Shark Tank to give us his take on the medical

psychedelic research space and more importantly on MindMed welcome sir

thank you very much good to have the opportunity to speak with you today

you've maintained your position right from the start we'll talk about the

cannabis space a little bit for sure you've maintained your your position

right from the start when it comes to the cannabis base on how you've had no

interest whatsoever in investing in the cannabis space tell us why that is I got

offered every day liliane and I kept asking the same question over over again

of all the CEOs how are we going to get around the Schedule one narcotic issue

on RICO statutes between states that are legal and not right that has never been

resolved as a result my speculation and I think it's come to roost this is my

own opinion there's no institutional interest in cannabis there's a lot of

high net worth there's hedge funds there's private you know family offices

but in order to sustain an industry and grow it you need eventually to provide a

platform for institutions to participate and there's tremendous interest in

institutions for the medicinal side of cannabis but there's no way to invest in

it without exposing yourself to the recreational side and what the final pin

for me was early on was a meeting with a representative a former chairwoman of a

lobby group called Mothers Against Drunk Driving and she was very clear to me

that they were not going to support this initiative they don't care what Canada

did I'm talking about institutional investors that take their key off the US

markets that they were going to go after congressmen and Senators that endorsed

legalizing marijuana and cannabis in the United States because they said that it

wasn't yet tested for teenage development etc and if you understand

that lobby group the power of Mothers Against Drunk Driving nobody wants to

mess with a mother work all right and so when they when I talk to them it was

clear to me that it just wasn't going to work for institutions and that's when I

said never because they and I also say to the CEOs give me a vehicle where I

can invest the medicinal side I'm on board but FDA

regulated drugs then along comes mine med and the first question I asked them

because when I heard the idea I have to admit I was intrigued because there have

been no new medicines for depression for alcoholism for opioid addiction in in 30

40 years and along comes this group saying we're going to focus on the

medicinal side of this only we will never pursue recreational psychedelic

drugs and would you like to participate as an investor support this initiative

initially I said no because I was still worried about the whole issue right

because it is a Schedule one narcotic and the more research I did the more

intrigued I got this is a really big idea pick any one of these afflictions

just talk about depression just talk about alcoholism just talk about opiate

addiction these are multi-billion dollar industries so eventually after asking

the CEO jr. to personally guarantee me and shakes fine I take I trust people

and they tell me that not to participate in recreational drugs like I got on

board because I know the institutional interest in the space is massive yeah

it's me I've talked to them I deal with them every day yeah I mean you you

touched on a few there but when it comes to specific differences between the two

industries what were the keys that really kind of made you want to be to

participate in this recreational marijuana is not a medicine right I

don't care how you try and sell it it is a drug whether you you're okay with it

you're not certain families don't agree some do and I am not against it at all I

just will not put my own capital to work there because I consider myself someone

who looks at it for the long term the difference is this if this is going to

be successful as an industry I'm talking about psychedelics as medicine micro

dosing and all the rest of it it's going to require a tremendous amount of

capital over the decades ahead the only way you can get that is with

institutions when I convinced myself by asking institutions where they

participates in a platform that was only doing FDA regulated research and

bringing fda-approved medicines everybody was on board too I didn't find

one that said no I'm not interested in that when are you gonna bring this to

the market that's exactly what the questions were so now I'm convinced a it

big idea be this institutional interest see they'll be there for the long run to

invest in it and support it as it grows that's a really good equation or

cocktail if you will for creating value yeah and I mean we saw even last year

you know the FDA kind of loosening its stance on MDMA and it's the psilocybin

kind of opening the door for more possibilities when it comes to research

and development on the medicinal side which is great going forward when it

comes to mind med when it comes to the space itself yeah how do you see the

value growing in time so here's my thesis ISM and it's a personal opinion

and why I invested personally in this when you find a medicine that can cure a

huge affliction let's just pick one that right now is a multi-billion dollar cost

to society opioid addiction those kinds of medicines those kinds of molecules

those kinds of ideas often get fast-tracked for the approval process

because if they show promise and it's our job at MindMed and the rest of the

industry to accelerate these trials but if they show promise the regulators want

to work with you because they want to help people right that's the whole idea

and you're taking the risk early on you're getting involved in a platform

very early and the trials are going to start to happen but I'm extremely

interested because I know and I'm not endorsing this at all but if you travel

in the engineering communities right now on the west coast the East Coast in very

different sectors it could be in search it could be an automotive whatever

you're gonna find young engineers micro dosing right now even though they know

it's illegal and the outcomes they're talking about are extremely positive for

all kinds of afflictions depressions abd all kinds of issues that they're dealing

with that they say they're getting anecdotal positive outcomes from now I'm

not endorsing that in any way but that also intrigues me that these people have

no interested in using it as a drug other than a medicine so that is a

really good base from from my perspective to get interested in

investing unlimited opportunity yes yeah absolutely when it comes to a timeline

going forward you know obviously we're speculating a

little bit here but what do we see as a timeline in the next year in the next

two or three years as far as this industry growth

I think the milepost you should ask management of from this company and

certainly I have is when do you the trials forward when can you give us

milestones on when you start these things how long they're going to take

what other applications for these drugs can you find can we do something for

depression can we do something for alcoholism what can we do for a DD you

know you think about just what what kids with a DD are being forced to take is

all the drugs we pump into these kids when there could be a solution like this

you want to see those milestones you want to hear the releases of information

from my men that they're exploring these opportunities that's what I expect from

them and I'll be watching and of course with the knowledge that they're not

going to pursue recreational drugs yeah it's it's a fascinating topic and and I

mean we appreciate your time today in your insights Winkies Kevin O'Leary

everybody from shark tank before we let you go we're gonna jump over to the desk

sean has a question for Kevin hey Kevin once again thank you so much for coming

through Neal and I Brendan now the whole team here great great big thank you I'm

gonna ask you a question from the trading side of things here obviously

the market is there to make money we're trading it every day I know you're

an aficionado of fine timepieces so I'm going to ask you live on the show right

now what is the favorite piece that maybe you have it's a two-part question

the next one do you tend to wear a specific watch for good luck on specific

days just they just very interested myself loving the space as well that's a

great question I could talk about watches for hours I won't do it now but

I carry with me when I travel three watches because I actually wear three in

a day I have my morning piece I switch at lunch and then of course something

for the evening I love watches right now I'm wearing an

FP Jordon elegant you've never seen one of these this is a remarkable technology

FP Jorn is one of the last independent Swiss watch watchmakers he builds

incredible pieces I have a lot of his different works this is a great road

watch because it's very very accurate and it can quickly switch between time

zones I was going to say one other thing about trading and this is a call out to

the NEOExchange in Toronto because I've been in the markets in Canada for

30 years and I love the fact that this new I love to call them the new kids in

town we listed MindMed on the yeah specifically to support this new

initiative of an exchange that was very entrepreneurial in nature because they

helped us get public faster than other alternatives I don't want to bash

exchanges because I have friends everywhere but these guys get it for

entrepreneurs they understand if you're trying to work by the clock and you're

trying to move an idea forward they can help you get listed faster so I'm doing

a big shout out for their one of the corporations that are now trading on

they're very proud of that and they've done a great job in another business I'm

involved in ETFs so here are some new kids in town you know that song they're

killing it they've got a great team over there and I just want to do a shout out

for them because all the volume is occurring on this stock right now is on

that exchange our good friend Jos Schmitt coming up in a few minutes Kevin

O'Leary from shark tanking thank you a pleasure thank you for doing this we

reishi educate your time thanks guys we'll send it back over to you

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