The biggest company in the psychedelic market is Compass Pathways. It has a billion-dollar valuation on the stock market, and is set to be the 800-pound gorilla in the psychedelic jungle. It’s using its money to do a large-scale test of magic mushroom therapy for depression, and to train up a large cadre of psychedelic therapists.

It is funded by a fund called ATAI Life Sciences, which is run by an investor called Christian…