Marijuana Gold Rush begins as investors hunt for opportunities
The first state-licensed marijuana stores are still almost a year away, but business-minded people are already chasing profits. Today, entrepreneurs are pitching their pot-related ideas to dozens of wealthy investors in Seattle.
San Francisco-based ArcView Investor Network arranged the private forum akin to the TV show “Shark Tank.” Entrepreneurs will have a few minutes to pitch their idea—which includes everything from better grow lights to handheld vaporizers, to mobile apps for marijuana retailers—and explain why their idea is a worthy investment.
#$%$ is like a house of cards, and the first two cards—Colorado and Washington—just got pulled out of the deck," said Troy Dayton, CEO of ArcView and longtime activist for marijuana legalization. "And this whole thing may fall faster than any of us ever thought. Investors are now banking on that."
This is the second marijuana industry investor forum ArcView has held in Seattle. Dayton says investors include billionaires, former Microsoft executives, Silicon Valley entrepreneurs, and venture capitalists.
Dayton says the forum is currently focusing on ancillary businesses, but will soon include businesses directly involved in growing and selling marijuana, as investors have shown interest.
Looks like we are getting funding for expansion into Washington state!
Big money is watching and possibly buying up shares!
Look out for a BUYOUT. We are holding on tightly, if there is this thing will be be given a premium price.
I hate to say it BKK but it doesn't look like anyone is listening anymore. I held strong as long as I could. I believe in MJ as a resource for medicine, fuel and industrials but it looks like MJNA has burned us by reporting stock shuffling as revenue since last fall. If they can get the idea in their head to be honest, make real sales and continue to grow they may be able to win some of us back.