Former Top Gun Pilot on Hallucinogens, PTSD & the Abyss

Brian "Ponch" Rivera's 28-year U.S. Navy career as a F-14 Top Gun aviator is one marked by exceptional leadership and operational expertise. But it wasn't without tremendous sacrifice. He opens in the cockpit on a 2001 training mission over the Bay of Bengal, with the roommate he swapped seats with, who never came back. Through his emotional retelling, Rivera explains how, in a complex adaptive system, you can make all the right decisions, have all the right hedges on, and still end up with a catastrophic outcome.Since 9/11, just over 7,000 American service members have died in combat. In that same period, 140,000 veterans have died by suicide — the VA puts the rate at 17 a day; independent research puts it as high as 44 once overdoses are counted honestly. The system's answer is SSRIs, benzos, sleep aids, and painkillers. They're treating symptoms, not the system.Rivera traces the path from the "Just Say No" era of the 1970s War on Drugs to his story of ibogaine treatment in Tijuana alongside his friend Mark "Slider" Keller, who'd spent seven years on a couch after a moral injury in combat and was injecting cocaine by the time they boarded the plane.A Stanford study of 30 special operators showed PTSD symptoms down 88%, depression down 87%, and anxiety down 81% one month after a single ibogaine treatment.The medicine — still DEA Schedule I, "no accepted medical use" — interrupts opioid, meth, cocaine, and alcohol addiction within 24 to 36 hours and rebuilds severed neural connections. Rivera's work with Veterans Exploring Treatment Solutions helped push it from the underbelly of Tijuana to the White House in five years, culminating in President Trump's April 2026 executive order opening federal funding for ibogaine research.Weaving together predictive processing, controlled hallucination, fractal attractor dynamics, and Neil Howe's Fourth Turning, Rivera makes the case that the trauma isn't the event — it's the response.Visit Hedgeye.com for more great investing content.Hedgeye Founder & CEO Keith McCullough's long-awaited new book, “Master The Market” is available now! In this 52-page e-book, Keith McCullough distills decades of Wall Street experience into actionable insights. Discover how to navigate market cycles, avoid major losses, and invest with the confidence of a seasoned pro. Download your free copy right now. Go to Hedgeye.com/book. That’s Hedgeye.com/book.