Billionaire venture capitalist investor Christian Angermayer had some harsh words for the world of social media this week.
Angermayer, who is the founder of Apeiron Investment Group, told Bloomberg this week that social media is "toxic to our brains".
Speaking at the Bloomberg Technology Summit, he also claimed that within two decades, society will have "found ways" to live with the technology - but, until then, the “adjustment period can be extremely devastating.”
Angermayer, also known for being a proponent of eating magic mushrooms, has said that psychedelic drugs could be “the best tool we have” to improve mental health.
He continued: “I do psychedelics twice a year in a country where it’s legal. They give me faith, they show me purpose, and they show you the importance of love.”
Recall, we wrote about Angermayer back in April of this year, calling him the billionaire who "finally understood bitcoin" after taking tripping on mushrooms. Angermayer took his first trip on psychedelics in 2015 before investing in companies that are in the space. A conversation with a neuroscientist at a dinner party is what turned him on to the idea of magic mushrooms, despite the fact that he doesn't drink alcohol. “It was the single most meaningful thing I’ve ever done in my whole life, nothing really comes close,” he said of his first trip, which took place in the Caribbean.
After the trip, he claimed he "finally understood bitcoin". From there, it became a feedback loop of investing in the things he was passionate about while riding the crypto wave that has swollen over the last half decade.
On his investing style, he said: “I just invest in what I’m very curious and passionate about,” he told Bloomberg. The report calls him the "German version of Chamath Palihapitiya" - though we're sure that was far more of a compliment back in April this year than it is now...
According to Crunchbase, "Christian has created, co-founded and invested in numerous successful companies across a broad section of sectors. He has raised over EUR 1.5bn for his portfolio companies and has been involved in more than 40 successful IPO- and M&A-transactions either as an entrepreneur, investor or banker/advisor."
"Christian’s family office holds stakes in various asset management companies with – together with his family office assets - in total approx. EUR 1bn assets under management."
His bio continues:
"Today, merging his profound experience at the nexus of traditional financial services and technology, he is one of the most active and significant investors in European fintech companies with a special focus on crypto-currencies and blockchain-related business models. Other cutting-edge areas for investments Christian is currently most excited about are longevity and anti-aging technologies, aerospace technologies and new drugs for mental wellbeing and enhancement."