Venture Capitalists Put Their Money Into Astrology

Posted by Anonymous Date 2019/4/16 12:12:52

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NEW YORK, NEW YORK, April 15, 2019 (New York Times, by Erin Griffith): As an Aquarius, David Birnbaum is naturally skeptical of astrology. But as an investor, he has zero doubts about the business potential of the $2.1 billion "mystical services market." It's an area that he has been trying, unsuccessfully, to invest in for nearly two decades. Now he's found one, Sanctuary, an app that can be described as "Uber for astrological readings." For $19.99 a month, you can receive a monthly one-on-one chat consultation with an astrologer. (The app also provides free daily horoscopes.) Mr. Birnbaum's decision to back a horoscope company through Five Four Ventures, the incubator he runs, "gets a lot of grins" from people in the finance world, he said. But they get it. Astrology is having a cultural moment, and for investors, that translates to dollar signs.

The article, which definitely takes a skeptical view of astrology, goes on to describe other apps, such as Co-Star and Pattern, but none that appeared based in India or on Indian astrology.

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