http://www.economist.com/news/finance-and-economics/21571898-fund-seeks-opportunity-weed-audacity-dope
This article talks about how many successful investors are starting to jump onto the weed bandwagon that seems to be spreading the nation. It talks about the new app that has been crated that tells people the reliability of dispensers and the potency of the products to the consumer and they had also calculated that this industry at its peak would generate about 50 billion dollars in revenue. The talks are in their early stages due tot he fact that this drug in many states is still not legal, making it kind of difficult to base an entire investment industry on it.
The Banking sector is absolutely crucial for this to follow through in a big way. The principal obstacle to investing in the marijuana trade is the inability of shops to open a bank account. Existing medical marijuana shops in Washington can only accept cash. Threat of federal seizure of funds dissuades banks from opening accounts for marijuana revenues...
ReplyDeleteInteresting article and idea though.
Now would be a good time to invest in marijuana based on the increasing popularity in the subject. All of his time and effort could really pay off if he continues to work on his app and website. There is so much money in marijuana that the government is missing out on so if they legalized it as well as taxed it, this would increase jobs as well as stimulate the economy.
ReplyDeleteMarijuana Trade is already a huge economy, but most of it is underground and illegal. This is a very unique sector of the economy in the sense that it's future will rely 100% on what the politicians will decide on. And even if states do decide to legalize it, there is always the chance of the federal government shutting all operations down.
ReplyDeleteI would agree with Josh and say now would be the time to invest in marijuana based on the increasing popularity in the subject, but with that being said I also feel like this would not stimulate are economy. Marijuana has also been a controversial subject in an increase in violence in areas, some may call it a "drug war". Marijuana could be a very profitable business, but is it worth getting into a "drug war" when there are other serious matters at hand.
ReplyDeleteInteresting and very controversial article.