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Medical Marijuana, Inc. Message Board

  • ciaobella617 ciaobella617 Apr 8, 2013 1:01 AM Flag

    USA today article,,, I copied and pasted. hope it come out alright.

    As marijuana goes legit, investors rush in
    Tim Mullaney, USA TODAY11:41p.m. EDT April 7, 2013
    Pot entrepreneurs have high expectations for a future market in legalized marijuana.

    (Photo: Thinkstock)
    STORY HIGHLIGHTS
    Investors scramble for stakes in billion-dollar market for legal marijuana
    The great green hope: 14 more states will legalize #$%$ by 2017
    From stigma to federal wariness, many hurdles still remain
    Brendan Kennedy and Michael Blue are nice boys. Really. They're bankers. Yale MBA classmates. Wearers of ties.

    And, if luck and changing laws cooperate, they'll be drug barons of a certain kind.

    Kennedy, 40, and Blue, 34, are in the vanguard springing up to seize the market for legal marijuana, which is accelerating with last fall's legalization of most personal pot consumption in Colorado and Washington state. They're running a Seattle private-equity fund, Privateer Holdings, designed to buy up the smaller marijuana-related businesses to create one bigfat one.

    After Washington and Colorado, the pot business is, if not mainstream, at least ready to push toward it. Advocates hope to legalize personal use in another 14 states by 2017, mostly among the 16 states besides Washington and Colorado where medical pot is legal (it's also legal in Washington, D.C.). Industry estimates say today's $1.5 billion legal market could quadruple by 2018.

    The public is trending toward legalization. In a Pew Research Center poll released Thursday, a majority of Americans (52%) favored legalization, the first time that threshold has been reached since polling on the issue began in 1969.

    What's striking is how conventional many of the business people's backgrounds — and their plans — increasingly are. Instead of backing marijuana dispensaries, investors such as Privateer and San Francisco-based ArcView Group are rushing to find consulting firms, software companies and insurance agencies to serve the new market. Even Privateer's strategy of merging small companies to form

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