Big time, name-brand companies are ignoring the fact that the recreational “marijuana law” has not yet passed and investing millions of dollars into the marijuana industry. The biggest indicator that the government won’t crack down on marijuana, according to Bocskor, came straight from the Department of Justice, stating that they will not “seek enforcement action” against Native American reservations engaging in cultivation of medicinal/recreational marijuana. With close to 10 million dollars raised in the marijuana industry this year alone, the next few years seems to be promising for marijuana cultivation and production as well. To read the whole article and share your comments on this subject with the 420cali community, follow the link below.
One of the top venture capital firms in the world is taking advantage of the increasingly hazy realm of marijuana law. Founders Fund is pouring money into Privateer Holdings, a private equity firm in Seattle, […]
“This investment from Founders Fund is just another marker that we’ve probably reached a tipping point for the industry. From a historical perspective, there are a lot of similarities between the end of alcohol prohibition and our current trajectory with marijuana. We’re probably going down a similar path,” Leslie Bocskor, managing partner of Electrum Partners and founder of the Electrum Report, told The Daily Caller News Foundation.
Terra Tech founder and CEO Derek Peterson reflected on the announcement and how much the cannabis industry has changed since he started his company in 2010, at a time when it was one of the first firms to enter the medical marijuana industry.
According to Bocskor, one of the best indicators that the federal government won’t start cracking down on marijuana is a recent memo from the Department of Justice regarding Native American reservations in the U.S. It stated that if they were to engage in cultivation or production of cannabis for recreational or medicinal purposes, the federal government wouldn’t seek enforcement action.
Founder of 420Cali.com. Shaye started her medicinal marijuana journey in SoCal and currently resides in NorCal, giving her an awesome perspective of the 420 lifestyle in California. Support Shaye and other 420 Cali bloggers by contributing content to the site. 420 California-based business? Get listed for free! We welcome all Californians who share our love and respect for nature's finest, cannabis.
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