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OfflineSleepAid
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The Future of Pot? Leave It to the Pros, Not the Stoners
    #778622 - 05/13/15 02:22 PM (1 year, 6 months ago)


Probably doesn't smell like hairgel

IF YOU LIKE puns, then you’ll love the American pot industry. Whether it’s bongs, brownies, or the buds themselves, pot-treprenuers (see what I did there) never saw a product they didn’t think could be improved by adding “Green,” “Canna,” or “Mary Jane” to the name.

“It’s like moths to a light. They go right for the cliché,” says Brendan Kennedy, CEO of Privateer Holdings, a private equity firm that invests exclusively in post-legalization marijuana startups. On stage today at the WIRED Business Conference, Kennedy said the first crop (it’s so easy) of businesses seeking to take advantage of more liberalized marijuana laws in recent years suffered from a general lack of professionalism and standards. The cheesy branding is just one symptom of an industry whose aesthetic standards are still stuck in the college dorm room.

But for Kennedy, at least one cliché still holds an ounce of truth: for entrepreneurs, problems present opportunities.

That opportunity, as Kennedy sees it, is nothing less than the professionalization of pot. Kennedy quit his standard-issue Silicon Valley day job five years ago to go all in on the prospect that marijuana would soon be widely legal, and as such an industry with immense room to grow. The key insight that led Kennedy to take the risk was the realization that, even as an illegal substance, marijuana was in no way a product on the margins.

“Cannabis is a mainstream product consumed by mainstream Americans,” he said.

To cater to the sensibilities of mainstream consumers, Privateer has raised more than $80 million to fund a portfolio of pot-related companies that reflect the firm’s emphasis on professionalism. Its investments include Tilray, a Canadian mail-order medical marijuana service; Leafly, a kind of Yelp for pot; and Marley Natural, a marijuana and marijuana accessories brand founded in cooperation with Bob Marley’s family.

The idea, Kennedy says, is to build global cannabis brands prepared to meet increasing consumer demand as the tide of legalization rises. Legalization is leading to the commodification of marijuana itself, he says, which is shrinking margins for people who are simply selling pot. The premiums will come to those businesses able to see that cannabis will no longer just sell itself; that innovative products and branding will command consumer attention, just as they do in any other legal business.

Of course, all this depends on the political winds continuing to blow in the right direction, and Kennedy is necessarily bullish that they will. He believes the 2016 election could be a turning point that leads to legal medical marijuana across the country within the year. He also predicts recreational pot could become the national norm by 2017.

If he’s right, the next big wave of pot-related businesses could, once and for all, send the goofball stoner puns up in … .

source


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InvisibleMycophile
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Registered: 03/17/12
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: SleepAid] * 5
    #778623 - 05/13/15 02:28 PM (1 year, 6 months ago)

I'm not buying their mass-produced weed, I'll stick to the growers I know and trust.

This fucking guy wants to capitalize off something he does not care or know anything about. The "stoners" have paved the way, done decades of work making cannabis what it is today, now tie-wearing assholes like this guy want to come in and take over so they can pay for their condos and BMWs. :crankey:


Edited by Mycophile (05/13/15 02:31 PM)


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OfflineSleepAid
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: Mycophile]
    #778624 - 05/13/15 02:30 PM (1 year, 6 months ago)

Quote:

Mycophile said:
I'm not buying their mass-produced weed, I'll stick to the growers I know and trust.




I was struggling for words to describe how I feel about this but I think it's fitting enough to say that I'm uncomfortable with it in a general sense.


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Edited by SleepAid (05/13/15 02:31 PM)


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InvisibleMycophile
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Registered: 03/17/12
Posts: 2,311
Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: SleepAid]
    #778625 - 05/13/15 02:32 PM (1 year, 6 months ago)

We seriously should not let weed become a corporate commodity, it needs to stay in the hands of the people.


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OfflineSleepAid
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: Mycophile]
    #778626 - 05/13/15 02:36 PM (1 year, 6 months ago)

The way legislation has been written (as far as individuals 21+ being able to grow their own) in places like Colorado should hopefully have some help in to that effect - but there will always be somebody trying to capitalize on MJ to some degree. Some big, like this dude, some small, like the kid down the block flipping dime bags.

I'm uncomfortable with this scale of corporate commercialization, but especially as far as MJ goes.


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OfflineSmokeSomeHash
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: SleepAid] * 1
    #778630 - 05/13/15 02:58 PM (1 year, 6 months ago)

I would hate for corporate bud and i support small growers but i agree that some businesses just look childish and lack professionalism.

And leafly isnt that bad...


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OfflineSham87
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Registered: 03/20/12
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: SmokeSomeHash] * 1
    #778633 - 05/13/15 04:06 PM (1 year, 6 months ago)

Great article SleepAid.

Although I am against the commercialization of bud I can't help but be intrigued by the legalization process especially going into a profession that will allow me to create these brands.

Exciting times ahead.


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...once in a while you get shown the light in the strangest of places if you look at it right...



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Offlinecheezymold
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Registered: 12/26/13
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: Sham87] * 1
    #778651 - 05/13/15 07:35 PM (1 year, 6 months ago)

What is probably going to end up happening is weed will become commercialized by large companies (likely from either the tobacco or alcohol industry) and the large corporations will lobby the shit out of congress to take away grow rights.  They will use the "quality control" argument to make it look good towards the general public.


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Offlineashfiken
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Registered: 09/25/14
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Re: The Future of Pot? Leave It to the Pros, Not the Stoners [Re: Mycophile]
    #778669 - 05/13/15 09:08 PM (1 year, 6 months ago)

Quote:

Mycophile said:
I'm not buying their mass-produced weed, I'll stick to the growers I know and trust.

This fucking guy wants to capitalize off something he does not care or know anything about. The "stoners" have paved the way, done decades of work making cannabis what it is today, now tie-wearing assholes like this guy want to come in and take over so they can pay for their condos and BMWs. :crankey:




:thumbup:


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