Marijuana Legalization May Spur America’s Next Great Industry

marijuana legalizationMarijuana legalization may spur America’s next great industry. Oil, railroads, aviation, automobiles, finance and the personal computer. Marijuana could join this list, as it is expected to be one of America’s next great industries. In what is being called a billion-dollar green rush, analysts are now projecting a 64 percent increase in the marijuana market to $2.34 billion. Analysts are also projecting a five-year increase in the marijuana market to $10.2 billion.

Marijuana legalization could produce many billionaires in the next decade, according to Colorado cannabis mogul Tripp Keber. Mr. Keber founded the brand Dixie-Elixirs which markets cannabis-infused products. Keber is one of approximately 60 investors, who are part of the California-based ArcView Investment Network. The group is made up of  many investors already established in the marijuana industry, plus a number of investors that are new to the industry. Fear of federal prosecution had scared off many investors. But a relaxed Justice Department policy regarding prosecuting marijuana investors, as being part of criminal conspiracy, has opened up new doors for a whole new core of investors.

The federal Controlled Substance Act still remains a hurdle outside the states of Washington and Colorado and will continue to hinder future investment. Issues like banking, taxes, and payroll are still serious problems for the marijuana industry. It has forced merchants into being cash-only enterprises. They pay everything strictly by cash, including payroll, city and state taxes, as well as licensing fees. Legislation is being advanced on Capitol Hill to protect the industry from the long arm of the federal government, including House Resolution 2652 and House Resolution 1523 which will provide access to the banks for the marijuana industry and legislation forcing the federal government to respect state laws in respect to the legalization of marijuana.

Regardless of roadblocks, marijuana legalization is still spurring America’s next great industry. Mark Twain once said that when there is a gold rush, it’s a good time to be in the pick and shovel business. The marijuana industry has spurred on the cottage industry of indoor marijuana cultivation and the retail sales of recreational marijuana, but it has also spawned collateral industries related to legalization of marijuana. There has been an explosion of mobile apps available on iTunes and Google Play Store that provide the public with immediate information on marijuana to users on their Apple or Android devices. The app Leafy is said to be the largest source of marijuana information resources, while the app Cannabis News is said to be the largest source of news for the marijuana enthusiast. One of the more recent apps to hit the market is iWeedz, who’s search engine connects consumers with vendors. It also claims to be accepting Bitcoins soon.

Brian Kennedy, CEO of Privateer Holdings,  a private equity firm that specializes in marijuana investment, claims its firm attracts investors from both the far right and the far left. The industry attracts new money and old money, according to Kennedy.  Privateer Holdings recently acquired the mobile app Leafy.

Steve DeAngelo, who operates a marijuana dispensary in California, offers a warning that the potential of the marijuana industry is contingent on the current business owners acting responsibly. If marijuana legalization is to spur America’s next great industry, the progress will be hinged on how the nation perceives us following through on our promises.

By  John J. Poltonowicz          Twitter

Sources:

Denver Post
Huff Post Small Business
CNBC

6 Responses to "Marijuana Legalization May Spur America’s Next Great Industry"

  1. nutmylk   March 25, 2014 at 11:50 pm

    The app is called Leafly, corresponding with the site http://www.leafly.com

    Reply
  2. Dem   March 24, 2014 at 7:39 pm

    sean wrote:

    “Cannabis has so many uses and the revenues only seem to reflect the intoxication stand point. Cannabis (hemp) could create a carbon negative footprint and provide fuel pellets, paper, food and just about everything we need for a healthy society. Washington is truly “Old and in the way”.

    Message for “sean” —> were you high when you wrote that? geewiz

    Reply
  3. Shepherd Yerusalem   March 24, 2014 at 10:20 am

    Actually Marijuana is mentioned in the bible by name:

    1980, etymologists at Hebrew University in Jerusalem confirmed that cannabis is mentioned in the Bible by name, Kineboisin (Also spelled Kannabosm), in a list of measured ingredients for “an oil of holy ointment, an ointment compounded after the art of apothecary to be smeared on the head. The word was mistranslated in King James version as `calamus’ – Exodus 30:23 (Latimer 1988).

    The above means it was in the oil they used to rub on their skin, it was in the bread they ate called the Lord’s Supper, and it was in the incense that was burned in the temples.

    Marijuana is the Tree-Of-Life talked about in the bible, indeed it was a real tree that grew from the ground:

    Gen 2:9 And out of the ground made the LORD God to grow every tree, the tree of life was also growing in the garden…

    The above reveals that the Tree-Of-Life is indeed a real tree that grows in the ground.

    Rev 22:2 In the middle of its street, and on either side of the ocean, was the tree of life. The foliage of the tree are for the healing of the nations.

    We are living in a day when the Tree-Of-Life (what the world calls marijuana) is healing everything it comes in contact with.

    The ONLY thing dangerous about marijuana are the cops who shoot people for having it:

    Number of American deaths per year that result directly or primarily from the following selected causes nationwide, according to World Almanacs, Life Insurance Actuarial (death) Rates, and the last 20 years of U.S. Surgeon Generals’ reports.

    TOBACCO – 340,000 to 450,000

    ALCOHOL (Not including 50% of all highway deaths and 65% of all murders) – 150,000+

    ASPIRIN (Including deliberate overdose) – 180 to 1,000+

    CAFFEINE (From stress, ulcers, and triggering irregular heartbeats, etc.) – 1,000 to 10,000

    “LEGAL” DRUG OVERDOSE (Deliberate or accidental) from legal, prescribed or patent medicines and/or mixing with alcohol – e.g. Valium/alcohol – 14,000 to 27,000

    ILLICIT DRUG OVERDOSE – (Deliberate or accidental) from all illegal drugs – 3,800 to 5,200

    MARIJUANA – 0

    (**Marijuana users also have the same or LOWER incidence of murders and highway deaths and accidents than the general NON-marijuana using population as a whole.** Cancer Study, UCLA; U.S. Funded ($6 million), First & Second Jamaican Studies, 1968 to 1974; Costa Rican Studies, 1980 to 1982; et al. LOWEST TOXICITY 100% of the studies done at dozens of American universities and research facilities show pot toxicity does not exist. Medical history does not record anyone dying from an overdose of marijuana (UCLA, Harvard, Temple, etc.)

    Accordingly a 1993 study done by the U.S. Department of Transportation came to the same conclusion as the above concerning marijuana and driving safety:

    “Marijuana, administered in a dose of 100 µg THC per kg of whole body weight…did not significantly change mean driving performance as measured…” – U.S Department of Transportation: Marijuana and Actual Driving Performance DOT HS 808 078

    The fact is people who use marijuana reflexes are not affected in a negative way and they become more conscious of safety, sometimes refusing to even drive.

    Marijuana is a plant with a safety record second to none.

    Anyone who would like to dispute these FACTS, point to a credible death that involves marijuana and nothing but marijuana, or hold your tongue.

    Reply
    • DavidCorner   March 24, 2014 at 1:02 pm

      “The fact is people who use marijuana reflexes are not affected in a negative way and they become more conscious of safety, sometimes refusing to even drive.”

      Or sometimes forgetting even to drive!

      “Wow man how am I driving?”

      “I think we’re parked, man.”

      Reply
  4. sean   March 24, 2014 at 6:22 am

    Cannabis has so many uses and the revenues only seem to reflect the intoxication stand point. Cannabis (hemp) could create a carbon negative footprint and provide fuel pellets, paper, food and just about everything we need for a healthy society. Washington is truly “Old and in the way”.

    Reply
  5. Jay Bosco   March 24, 2014 at 4:22 am

    Freedom is all its cracked up to be. Stop jailing pot smokers, its right up there with burning witches.

    Reply

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