Why tops of Silicon Valley go to startups on marijuana

Фото: Depositphotos

Two years ago, American Alan Gartner was the top manager of the representation Google in Singapore, he led a large business, he threw hundreds of millions of dollars. Today, his day begins in a small office in Toronto, where he builds a brand of accessories for grass lovers. Toyko Smoke, developing sales of fancy vaporizers and bongs worth several hundred dollars.

This is not exactly downshifting. Gartner is one of many successful managers who quit high-paying jobs in technology and financial companies to try to earn even more on marijuana fever. On the eve of total legalization, "green" startups are growing like weeds.

In 2016, the legal sales of marijuana in the United States increased by $ 1 billion, reaching $ 6,7 billion. The market potential is at least $ 45 billion. A great text about this trend out в Reuters. Edition "Secret" published an adapted translation.

Grains of joy

Some acquaintances of Alan Garner from Toyko smoke still looking askance at him. Can a person in his right mind throw a top position in the richest corporation in the world? Skeptics are behind the times. In just ten months, in his cannabis start-up, Garner drew $ 10 million. And this is just the beginning.

Eric Eslao, Founder of the California Company Défoncé Chocolatierwhich produces hand-made chocolate with cannabis that cost $ 20 per tile, a year ago worked as a senior production manager at Apple Lossless Audio CODEC (ALAC),. At first, he, too, was afraid of public condemnation, but this did not stop: “The opportunity was too good not to use it.”

In 2017, American venture capital funds have invested at least in 27 marijuana projects. In 2016, deals were total 10. The influx of capital creates new jobs - now 150 000 people are already working in the legal sector, by 20% more than a year earlier.

Time to harvest

Investors who had previously been interested in completely different things invest in green startups.

One of these investors is the fund's partner. Lerer Hippeau Ventures Eric Hippo. Previously, his company invested in media startups level Twitter and Buzzfeed, and now invested $ 3 million in the platform LeafLink, which helps drug delivery points replenish marijuana stocks.

In support of cannabis startups, the founder appeared PayPal Peter Thiel. He invested in marijuana investment fund Privateer 500 Startups, DCM Ventures and Great Oaks Venture Capital invested in Eaze, a marijuana home delivery service.

More cautious investors are eyeing projects that are related to a drug only indirectly. For example, to dating services for fans of marijuana High There or My420Mate.

Green light

According to a joint study Reuters and Ipsos, The American people almost came to terms with the legalization of marijuana. In the 2012 year, slightly more than 40% of adults expressed a “pro” opinion; today, 54%.

US 30 states are already allowed to use marijuana for medical or recreational purposes, but at the federal level, storage and sale are still prohibited. While interstate commerce is not possible, banks and payment systems are wary of a new industry.

During the presidential campaign, Donald Trump said that he would provide the states with the task of resolving the issue of legalization on their own. But now his administration is giving the industry conflicting signals. For example, Attorney General Jeff Sessions recently announced penalties for growing, selling, and even using weed. “Good people do not smoke marijuana,” the official said.

Conditional legalization complicates cannabis startups access to banking services. But even in this difficult situation, the market continues to grow and attracts the attention of investors.

Read also on ForumDaily:

Drug epidemic in the United States: who earns it

Country of salsa, coffee and drugs: how Ukrainians live in Colombia

Legalization of marijuana called a big mistake

15 cities in the US, where most of all fans of marijuana

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.