Astrology apps are the safest place for venture capitalists to invest
Google co-founder Larry Page popularized the term ‘moonshots.’ But venture capitalists, apparently, are looking to the stars. An app called Co-Star, which provides slick digital versions of horoscopes and astrological birth charts, has raised $5 million in funding. An investor who put money into an ‘Uber for astrological readings’ company expresses excitement about the $2.1 billion market for ‘mystical services.’ Erin Griffith, the author of a recent New York Times feature on the subject, took a lighthearted angle toward the subject while nevertheless acknowledging that there really is business potential. Millennial women, she writes, have ‘traded [astrology’s] psychedelic new-wave stigma for modern Instagrammy witch vibes.
