Cannabis, it was bound to be big
Four years ago I wrote a post that I was interested in the cannabis space. My inbox starting to hum. As far as I was concerned, there was no doubt that the cannabis industry was going to be a huge legal business where investors could partake, taxes would be paid and jobs would be created. Once the cat slips out of the bag, it generally never goes back in.
I woke up to a text this morning from my friend who sent me an article from Business Insider with the headline, Congress just quietly passed a law that could spark a boom for the $1 billion marijuana-linked CBD industry. It is game-changing.
It has not been easy for the early to the party companies (even in California) to navigate the laws. It continues to get easier but this could be a watershed moment. Weed is good for people. Read this article in the NYTimes about Olders Americans Flocking to Medical Marijuana (soon no need for the word medical). As an investor and true believer in Octavia Wellness, I have a front seat to the impact and relief seniors are getting from their products.
I’d like to see states take all the taxes that will be generated by Cannabis and direct it only to education and transportation. Those are two areas that are in massive need of capital and both of them make a huge difference on the economy. I would also hope that that more institutional investors get in the game of investing in these Cannabis companies because what is happening now is that the majority of the capital is coming from Canada who is taking advantage of many due to lack of capital. There are many who are tremendously overvalued as well. I am hoping that this law will be a change in the right direction on many levels.