Gallery

The End Of The War On Drugs And The Emergence Of The Venture-Backed Cannabis Industry


TechCrunch

[tc_aol_on code=”518804627″]

When news broke that Founders Fund, the proudly contrarian venture firm helmed by PayPal co-founder Peter Thiel, was going to invest a major $75 million in Privateer Holdings, a company focused on producing, distributing and educating consumers about legal marijuana, it opened the floodgates for other investors to barrel in.

We’ve since seen startups like Eaze, which just raised $10 million, and Y Combinator-backed Meadow.

“When you look at America, our fundamental thesis is that this is a mainstream product consumed by mainstream Americans,” said Brendan Kennedy, Privateer’s CEO, today at TechCrunch Disrupt NY. “Fifty four to 58 percent of Americans believe that this product should be legal. About 85 percent believe that medical cannabis should be legal. You can’t get 85 percent of Americans to agree on anything.”

Both Kennedy and his investor at Founders Fund, Geoff Lewis, refer to legalization as the “end of Prohibition,”…

View original post 177 more words

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s