David Dinenberg, Founder and CEO of Kind Financial

David Dinenberg is the Founder and CEO of Kind Financial, a financial services platform catering to the cannabis industry. David, a problem solver at heart, first noticed the cannabis industry needed a reliable financial support system while watching television at home with his wife. The news agency was reporting on the green rush, then in its infant stage, and the lack of banking access and financial support. So, Dave started conducting research as to how he could fill that gap in the industry and Kind Financial was born. Kind Financial provides a Seed to Sale software package and they are in the midst of launching the first true and transparent legal payment system for the cannabis industry, called Kind Pay. In addition, Kind Financial has partnered with Link to Banking, which provides banking consulting and solution for banks to work with the legal cannabis industry.

What was the deciding factor for you to join the cannabis space or this particular industry?

About two and a half years ago my family was living in Philadelphia, Pennsylvania, where I had been in the real estate industry my entire life. After the 2008 real estate bubble, my wife and I were looking for a new venture to get involved with. We saw a television program in the fall of 2012 that talked about the emergence of the legal cannabis industry. During that broadcast, all they talked about was the politics and the landscape of the legal cannabis industry. At that point it was only legal in about sixteen states, worth roughly a billion dollars of revenue.

There was a small part of the program that caught my attention. I mean if you would have coughed or sneezed, you would’ve missed it. They said the industry had no financial services, no banking and no financial backbone. My wife and I just didn’t understand how an industry could emerge without that financial support. That is what peaked our interest in the cannabis industry.

The regulation and taxation of the industry is going to open the door across America, ushering in a whole new opportunity for prosperity.

Basically, Kind Financial started as a research project, as we worked to separate the truth from fiction as far as the banking industry went. That research evolved into our business plan. We closed our seed financing in June of 2013 and then moved to Los Angeles a month later. That’s when the company was born.

What were you doing prior to Kind Financial?

I was the Chief Operating Officer of one of the largest privately held real estate companies in Philadelphia. We were developers who built office buildings, shopping centers and multi buildings. We did a lot of urban development, basically covering the entire Northeast corridor from Washington, D.C. to New York.

When did you realize the coming of the green rush?

I realized that after I watched the program that I mentioned earlier and did the research. Then I figured out that this was going to be the next great industry in the United States, easily comparable to the repeal of alcohol prohibition. However, I’m 43 years old so I wasn’t around for prohibition. For me, the closest comparison is the .Com boom of the 90s.

The green rush is giving us a chance to come back to life, per se, after being wiped out in the last market crash. We saw this as a great opportunity, not only for us as entrepreneurs, but also for the country.

You have to be very resourceful, agile and thought provoking in this industry.

Right now, where are you guiding your passion and energy towards?

My passion is a couple of things. My passion is problem solving. My whole life I’ve never had an easy transaction, I’ve never had an easy deal. Most things that I’ve ever worked on in my lifetime have been very complicated. This is absolutely no different from that.

I’m very comfortable playing in water that is very choppy. You have to be very resourceful, agile and thought provoking in this industry. That being said, my passion really lies in two things. One is solving the banking problem in the cannabis industry. The other is as passion lies in helping to spearhead the charge towards legalization.

How are you working to side-step past issues relating to banking and the cannabis industry?

With our products at Kind Financial and partnership with Link to Banking, we have become an all inclusive, one stop shop. Meaning that, if you are a bank trying to do business in this industry, we provide you the tools so you can master the way of compliance.

When I refer to compliance, I’m talking about the eight points that were in the FinCEN memo, which came out back in February 2014, as well as the Cole Memo from the fall of ‘13. It more or less provides a blueprint as to how banks can work with the industry. We have taken that information and applied it so businesses and banks can operate compliant with regulations and laws.

I’m an honest guy. I only tell people I’m going to do something if I’m going to do it.

If you are a businessperson in the cannabis industry, we have several solutions that you can work with. If you’re a bank and you’re considering getting into the cannabis space, then our programs, infrastructure and  technology set us apart from anything else offered in the industry. There are two main differences between what we offer and what the rest offer.

First, we have the ability for the bank to know their customer’s customer. In order to successfully and effectively comply with the rules and regulations currently in place, it is critical that banks know who everyone is throughout the process, including their affiliated businesses customers. I believe we’re the only company around that provides that service right now.

Secondly, we’re not agnostic. Our solution contains several different components and several different parts. One example comes from our software and hardware solutions, which we tie together because we control all the pieces in this puzzle. We can bring a very compliant program to a bank. In addition, not only is it about complying, but also becoming more time and cost conscious. We believe we can raise a bank’s efficiency level 40%-50% higher than others that are banking the industry today.

Describe your work ethic to me in one word.

Honest.

I’m an honest guy. I only tell people I’m going to do something if I’m going to do it. That’s it. This industry has a lot of smoke and mirrors and I don’t want to be part of that. I only talk about things I’m going to deliver on.

Furthermore, I walk through walls. If you’re scared to hear the word no, then you shouldn’t be running a business and you probably shouldn’t be an entrepreneur.

Who is a person that you consider as a role model? Maybe someone who has been a mentor to you, why and how did this person change your life?

First and foremost my wife for her support, her belief and for allowing me to be the crazy nut that I am. Whether there is a woman behind a successful man or a man behind a successful woman, I’ve found that spousal support is a big factor behind success. Doesn’t matter what industry you are in. There’s always a partner involved in the process. My wife is my biggest cheerleader and my best advocate.

Professionally, my answer would be Lindy Snider.

She is one of my investors. She is one of my closest advisors. What I respect the most about Lindy is her professional history. She has started and grown numerous companies before.  She knows how to make it happen and she asks the difficult questions of me. She makes me prove myself and my business model all the time. She challenges me and at the same time she is my biggest supporter and she shares my vision. She’s someone that I am very fortunate in my lifetime to know.

If you’re scared to hear the word no, then you shouldn’t be running a business and you probably shouldn’t be an entrepreneur.

What book have you read that you’ve been inspired by? Any particular read that we should put on our list for your readers to follow through?

Frankly, I’m not a big book reader. I like to read the news, or more topical information. I do love reading biographies and historical books, but for the most part my reading is dedicated to what is happening right now and how it might affect our ventures.

I just love the great stories of early entrepreneurs, the Wal-Marts and DuPonts of the world. People who were entrepreneurs a generation ago inspire me because there were no roadmaps for them. They had to draw their own treasure map.

Steve Jobs is a great example of never taking no for an answer and never giving up. Just because you make mistakes in the past doesn’t mean they’re shut out from the future. I truly believe that. I’ve learned much more on the way down than I ever learned on the way up.

Tell me about an esteemed achievement of yours that you are absolutely proud of.

Personally, one of the things I am most proud of was being recognized as President of the Jewish National Fund, when I was living in Philadelphia. That was important to me because it was a true reflection on my ability to help others.

Professionally, and this might sound a little self-indulgent, but I’m proud of the fact that I’ve been on CNBC about five times now. Just being able to be on national television, talking in a business setting about cannabis, something that has been illegal for a hundred years, is fascinating to me. I think any entrepreneur will always hope to be on a business television show talking about their business. For me, the opportunity to talk about cannabis and the future growth of the industry as a whole has just been very humbling.

People who were entrepreneurs a generation ago inspire me because there were no roadmaps for them.

What is the best advice you have ever gotten?

Listen more than you speak.

What is the most important thing for us to know now about the legal cannabis industry?

The cannabis industry is here and it’s not going away.

If we are sitting across from each other a year from now, how will our conversation about the green rush be going?

I think we’ll be dead in the middle of the 2016 Presidential election. I think we’re going to be talking about how amazing it is that we’re longer asking our candidates if they’ve tried marijuana, but rather their stance on legalization. Where do you stand on the legalization of marijuana? Do you want to create more jobs, more tax revenue? These are the new questions we are going to be asking.

As a presidential candidate, do you want to have a booming agriculture industry? Then legalize and regulate cannabis. Over half the country has medical marijuana on the books and it is likely that as many as ten states will have adult use recreational marijuana on the books. The regulation and taxation of the industry is going to open the door across America, ushering in a whole new opportunity for prosperity.

What do you think is the biggest barrier between the banking and cannabis industries? How do you think it will resolve itself? Join the conversation and comment below!

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Innovative Financing: Dynamic Funding, Inc.

By Scott Jordan

When Colorado legalized recreational marijuana, we started getting calls from local companies wanting to lease equipment as we appear high in the search engines for equipment leasing. I immediately realized that there was an underserved industry that could not get banks to even take their money, let alone lend them with the capital they needed to grow. So, I started working with some of these businesses that had the characteristics that we were looking for to get them the funding that they were seeking. We added working capital and real estate loans to our service offerings and through the syndication partners that we work with, we can now provide the full spectrum of debt based financing.

We provide access to working capital, real estate loans, and equipment financing for all types of businesses, including licensed marijuana businesses. Dynamic Funding allows business owners to obtain the capital they need to grow and expand their existing businesses without giving up equity, control, or prompting you to sell your soul… Ok, the ‘selling your soul’ part may be seem a bit far-fetched, but think about it. Say, you are an existing business with several locations and you want to build a multi-store operation in anticipation of a sale to a larger company. What are your options for seeking funding? Equity may be your first thought, but remember that it can be very expensive when it comes to a buy-out, especially if you are talking about a large multi-million dollar deal.

Say, you are an existing business with several locations and you want to build a multi-store operation in anticipation of a sale to a larger company. What are your options for seeking funding? Equity may be your first thought, but remember that it can be very expensive when it comes to a buy-out, especially if you are talking about a large multi-million dollar deal.

For instance, Green Smoke, a 4 year old $40 million vape company, was bought by Altria Group (NYSE:MO) in 2014 for $110 million. If they had given up 10% debt equity to get [let’s say] $2 million in working capital to grow, and they had that working capital for 2 years and paid 18%  interest on that money, they would end up paying approximately $360,000 in interest, equaling a total of $2,360,000. On the other hand, if they gave away 10% of their company, it would end up costing them $11,000,000; therefore, receiving $11 million less at the time of sale. This is a huge premium to pay for equity and business owners need to consider that. Dynamic Funding’s services are catered to those seeking to grow and expand their businesses without giving up control of their company. There are many variables to think about: For example, did you know that the interest expense may even be considered tax-deductible?

Our ideal client is an existing profitable business with a good cash flow, a bank account to prove that cash flow, and someone that is seeking at least $250,000 to buy equipment to expand their cultivation facility and/or buy another store and have needs of remodeling it. If you are tapped out from the financial support of your friends and family and do not want to dilute your equity in exchange for capital, there is another option. If you’d simply like to acquire funding for expansion rather than putting the money you earned back into your business or if you’d like to purchase the building you’re currently leasing, there is great potential for us to work together.

I, myself, am a lot of fun to work with and I’m confident that my large list of clientele would second that! My goal is make the process easy and fast. The first step is to give me a phone call or send me an email. I’ll take your information and determine if you qualify for our services. If you are, I’ll submit your application for approval. Once you’re approved, I’ll present you with the term sheet, gather the rest of the documents, and either close your loan or lease or bring in one of my syndication partners to close and fund the loan. Either way, you’ll work with me and I promise to work diligently to get the best rate and terms for the funding you are seeking.

My goal is make the process easy and fast.

We have arranged $6 million dollars in working capital and equipment financing in the past 6 months and are actively helping existing marijuana business owners grow, expand, open more dispensaries, build out their cultivation facilities, help equipment suppliers sell more equipment, and help the economy overall. We are providing hope to the great business owners out there who are seeking to expand their operations and need the capital to do so. Our vision is to become the go-to resource for debt based funding. Just as entrepreneurs look at ArcView as the ‘go-to’ for start-up and venture capital, we would like to be considered the industry leader in the debt based space. We would also like to offer banks and credit unions the opportunity to partner with us in the future to expand our lending services.

The bottom line is that giving away control and equity of your company is NOT your only option. If you’re looking for alternative means to attain funding, we can definitely help. If you’re one of those smart business owners who wants to establish a relationship much like you would with a bank, but with private institutions, it’s a wise decision to start now while you’re growing. You need money to grow and certainly don’t need to sell your soul to do it!

Would you like to learn if you qualify for this type of alternative funding? Fill out this form or call 858.224.8733

Cover Photo Credit: Mishimoto

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Leslie Bocskor: Electrum Partners

Have you realized how unique the legal cannabis space is, yet? Have you taken note of the opportunity there is at hand for you to make a positive and powerful impact on the world? Leslie Bocskor, Managing Partner of Electrum Partners, is here to point out that the above is not only true, but imperative to understanding your part as an entrepreneur in this industry. He grew up looking at things differently and it’s this rare perspective that he’s shared with us in the interview below…

What is the story behind your involvement with the cannabis industry?

Well, I’ve always been partial to cannabis and have been interested in it, although I never honestly thought there’d be an actual industry for it. It wasn’t until my wife and I moved from New York to Las Vegas that I became acquainted with the fact that there was an actual cannabis industry growing here on the West Coast. In New York, we would never have imagined that to be the case. I went on to research this industry for a couple more years and after the 2012 elections, it was clear to me that we were at a substantial infection point. I then did an even deeper dive into the industry – researching it and determining the different factors at play… the social justice issues, economic issues, political issues, the regulatory environment and how it’s shifting, and what the interplay between all those factors were. It was all this that made me realize that this was a once-in-many-lifetimes opportunity that far surpassed even the birth of the internet, which I had witnessed as an Investment Banker in the field.

It was all this that made me realize that this was a once-in-many-lifetimes opportunity that far surpassed even the birth of the internet, which I had witnessed as an Investment Banker in the field.

What were you doing before?

I am a corporate finance and banking professional by trade and I had been previously looking at identifying disruptive industries that were about to surface and evolve. I was really trying to find what industry captured my interest and provided me with an opportunity to see the creative destruction from that perspective of evolution. Before coming upon the cannabis industry, I was looking at the financial market and crowdfunding, the online-based casino industry, the security industry, and aspects of the entertainment industry. It was looking at these specific industries that brought me out to Las Vegas in the first place where I came to recognize the existence of the cannabis industry.

What other industry might you compare the ‘green rush’ to and why?

The truth of the matter is, is that I could compare it to a lot of things. I could compare it to the birth of the alcohol industry in 1933, I could compare it to the dot-com boom, I could compare it to the biotech industry, except there is such a significant difference in all of those compared to that of the cannabis industry. We have never seen an industry of this size! According to a United Nations report in 2012, it was estimated at being about a $110 billion a year industry. So, what makes this different and why I can’t really compare it to anything else, is that unlike the computer, mobile, or biotech industries, we do know how big this can be. With any other industry, it was just a guess, but with the cannabis industry, we can look at the black market and know the size already. We’ve never had this as our advantage before! We are simply seeing this industry transition from black market to white market. This isn’t even counting the ancillary markets. You could easily be looking at a $200 billion dollar industry transitioning over the next 5 to 7 years, essentially marking this industry as the fastest growing in the history of business.

Right now, where are you guiding your passion and energy towards?

This is an incredible opportunity! The truth of the matter is, is that I enjoyed working on the internet with new media and technology companies. The idea of discovering new ways for people to do business was incredibly exciting, but the thing that was missing from it was the feeling of ‘rightness’. So, when you ask me about where I’m guiding my passion and energy towards, I’d say it is towards the convergence of social justice issues, economic justice issues, and economic opportunity into one specific focal point. I don’t know where this has ever happened before, where you can make this much money, in an industry that has such a tremendous upside, and go to sleep at night knowing that you’ve made the world a better place!

I don’t know where this has ever happened before, where you can make this much money, in an industry that has such a tremendous upside, and go to sleep at night knowing that you’ve made the world a better place!

So, when you ask where I’m directing my passion and energy towards, there is really three things that compose my life right now: My family, first and foremost, my wife and 3-1/2 year old son, my work in reintegrating the arts into a civic context throughout the world, and my working in the legal cannabis industry; which I know its not only economically viable, but is also going to eventually change the face of our country and our world. This is something I am proud to be a part of and is something that I wake up in the middle of the night and get excited about. It’s gotten to the point where I don’t feel like I have enough hours in the day, so I work whenever I can and spend time with my family and on my other projects whenever I can, but it’s just an incredible moment!

Who is a person that you consider as a role model? Maybe someone who has been a mentor to you? Why and how did this person impact your life?

David Darst, the Chief Investment Strategist for the Private Wealth division of Morgan Stanley. You can see him nearly every Friday on CNBC. He is, first and foremost, my dearest friend and my son’s godfather. He has been a mentor to me and is someone I’ve learned more from than any singular person I’ve spent time with throughout my entire life. He cares more about business, more about process, more about character, more about attitude, more about crisp and professional execution, than anyone I’ve ever encountered. He’s an unbelievable human being and is one of the brightest people I know on Earth, internationally regarded for what we does. He has been a great mentor to me and I couldn’t be more thankful for his place in my life.

What inspires you the most about this space?

The fact that you can have a convergence of social justice issues, quality of life issues, and economic impact is unique. In my personal study of industry, I don’t know there has really been anything of this particular combination. We’ve obviously had social justice issues and economic revolutions before, but never has an industry combined the two. There are over 680,000 people incarcerated for cannabis every year in the United States, while 80% of that number are for minor possession, some are incarcerated for decades. This is not only ruining the lives of those incarcerated and inhibiting them from ever landing a decent job because of the red mark on their record, but it is costing taxpayers tens of thousands of dollars per inmate per year.

So, let’s parse this out. There’s the economic impact on the taxpayer that’s a drain on our society. Every one of those people being incarcerated for cannabis has a dollar amount associated with them. Think about how many people are incarcerated every year for cannabis-related crimes and do the math. The numbers get so big, they grow into the billions! Then, when these people get out of jail, they leave with this permanent stigma on their record. They can’t go out and get a respectable job because they are now regarded as a convict. When you see how much power you have to change this and make an impact, how can you not be inspired by this industry?

When you see how much power you have to change this and make an impact, how can you not be inspired by this industry?

Tell me about an esteemed achievement of yours.

I’m the founding chairman of the Figment Project, which is an arts and culture organization that started out in New York City about 9 years ago. We put on our first event celebrating culture and life and didn’t involve any commerce whatsoever. We had no sponsorships, we simply wanted to create a place where people could collectively gather and share some time together in the midst of art and community. Instead of the anticipated 500 attendees, we had 2,500 attendees and would have had upward of 5,000, but the ferry to the island had limited capacity and couldn’t shuttle everyone over. Flash forward to present day and you’ll be able to find us in 12 cities this year, 3 countries, and 2 continents and we expect that number to grow by next year. We were called ‘New York’s BEST Art Festival’ by The Village Voice and BBC Radio and News said that, ‘If Figment were a country, it’d be the happiest place on Earth!’ My role as a part of this team, is my proudest achievement.

Where do your great ideas come from?

I would say that I was born a certain way and I look at the world and I see, very often times, not just the way the world is, but the way the world can and will be! I would say that my ideas come from my unique life experience as well. I believe that I’ve been led to this point where I can now see trends and hopefully be right about them a substantial amount of time which, knock on wood, I have been so far. I can have my team be at a place before the world knows that that is the place to be! My ideas come from a combination of meditation, thought, life experience, and my own personal makeup.

My ideas come from a combination of meditation, thought, life experience, and my own personal makeup.

What are you doing to ensure you continue to grow and develop as a leader in this space?

I say that one of the things that makes the cannabis industry so unique, and I go back to when us talking about social justice issues, is the fact that this is a business where you can both make money and do something great for the world! It reminds us about how important it is to give back on a regular basis and how important it is to do that philanthropic work and to give back to the new entrepreneurs entering the space. Being a part of Troy Dayton’s ArcView group, one of the most important groups in this industry, and aligning myself with people like Troy, who has done unbelievably great things for this industry, is essential to my growth.

Every time we meet, I volunteer to mentor one or two companies to help them make their presentations be the best that they can be! It’s not something that I get compensated for, but it is incredibly rewarding to be working with young entrepreneurs and helping them present their idea in a way that scores highest among all the other pitches. I grow by giving back as much as I can.

What is important to you – mission, vision, or core values? Why?

I believe we are at an infection point in history where capitalism has shown that unbridled capitalism has substantial issues that can lead to the destabilization of our entire monetary system. If the entire focus of your business is bottom-line driven, without values mediating your bottom-line goals, you’ll see people making decisions that probably weren’t the ‘right’ thing to do. I’d definitely see values as the most important facet of all our capitalistic ventures. If we don’t have underlying values in what we do, we don’t have any underlying principles guiding us to choose between right and wrong. I think it’s important for businesses to have shared values and culture. Out of your values, can come your mission; and from your mission, can come your vision. I think the underpinning of it all is a shared set of values.

If we don’t have underlying values in what we do, we don’t have any underlying principles guiding us to choose between right and wrong.

If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?

About a year from now, in March 2016, I would say that our conversation will be about new state legislature changes for medical or recreational cannabis. We’ll be talking about Arizona, Nevada, California, Massachusetts, Maine, and maybe a couple others that have ba loted full adult usage of cannabis. We’ll be talking about how the industry is really starting to mature and how more banks are coming to accept applications for cannabis-related businesses. We’ll be talking about the changes that Native American lands are making in regards to supporting the cannabis space and the advantage they have over not paying income taxes. I’ll say that the conversation overall will have evolved and become even more sophisticated. Where we are at now is still just the beginning!

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Derwin Wallace: CannaWebcast

Whether you’re a grower, a dispensary owner, a product developer, or a consultant in the cannabis industry… you have hopefully realized the importance of putting yourself, your company, and your mission out there for investors and members of the media alike. The only obstacle is time and finances, but that’s what Derwin Wallace of CannaWebcast has sought to alleviate with his monthly online meeting that is putting entrepreneurs and investors from across the nation into the same room without even a thought of an airline ticket. Now, how creative is that?

What was the deciding factor for you to join this particular industry?

I had significant experience in Investor Relations/ Financial Communications for Technology, Payment Processing, Health Care, Retail, Communications, and Financial Services industries. I wanted to take that knowledge and apply it to a new and emerging market and so I decided to join the cannabis industry!

What were you doing before?

I have been working in my field of expertise for over 15-years. I’ve worked with companies like First Data, National Association of Investor Corporation, ResCare, The Home Depot, Cox Communications, Isle of Capri Casinos, and Chatfield Dean Investment Banking.

Tell us about the point in the time you realized the coming of the ‘green rush’?

I realized there was no turning back when recreational marijuana was legalized in Colorado. Politicians and Wall Street only understand one thing – Money!

I realized there was no turning back when recreational marijuana was legalized in Colorado.

Right now, where are you guiding your passion and energy towards?

Currently, my mission is to increase publicly-traded cannabis company’s awareness, exposure, and credibility on Wall Street.

Describe your work ethic to me in one word.

12-Hours

Tell me about a time in your career that didn’t go as planned and what you did about that? How did you handle it?

I was broke and had this gorgeous girlfriend who I thought loved me, but I found out she was only looking for financial gain. I was scheduled to take the stockbroker exam (Series 7) and after the exam, I was told I failed it. She was very upset with me for not passing it and shortly afterwards, I caught her cheating with a friend of mine. She threw me out of her apartment and moved my friend in with her. At that point, I came to the conclusion that most women are attracted to success, so I worked hard and eventually passed the stockbroker exam and managed to build a very large list of clientele. All of a sudden, I started receiving calls from my ex-girlfriend wanting to get back together. I never returned her call, but I finally realized what kind of world we live in. I always thrive for success, but I am also careful about the interests of those around me.

What book have you read that you’ve been inspired by? Any particular read we should put on our list?

The Art of War by Sun Tzu and BraveHeart (the book) has inspired me tremendously. I think everybody should put these books on their reading list. Sun Tzu’s Art of War, compiled more than two thousand years ago, is a study of the anatomy of organizations in conflict. It is perhaps the most prestigious and influential book of strategy in the world today. BraveHeart – amid the color, pageantry, and violence of thirteenth-century Scotland unfurls the resplendent tale of the legendary William Wallace, farmer by birth, rebel by fate, who banded together his valiant army of Scots to crush the cruel tyranny of the English Plantagenet king. I think William Wallace’s story is similar to what cannabis entrepreneurs are up against– stigmatization, government, legislation, pharmaceutical, and tobacco companies.

Tell me about an esteemed achievement of yours?

When I decided to leave the bondage of ‘Corporate America’ and start my own company. The feeling of creating something cannot be matched by any amount of high you could get from any experience out there!

What’s the best advice you’ve ever gotten?

For some odd reason, I never had any mentors and all the people I look up to have already passed. I had to figure things out on my own and learned as I went. A personal mantra of mine is “Don’t be impressed by those who fight for their freedom, but for those who fight for other people’s freedom.”

I had to figure things out on my own and learned as I went.

What is the most important thing for us to know now about the legal marijuana industry?

That it will probably be the last opportunity in your lifetime to be part of a new and emerging industry that will change the world and provide the chance for an ordinary person to make a major impact!

If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?

I would be just as excited about the cannabis industry as I am today. However, the difference will be that I will be driving a Ferrari to our meeting.

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Jef Baker: MBank (OTC:MBNC)

He and his company are taking the road less traveled and even more so, the road not many have dared to even tiptoe down: Banking for the Cannabis Industry. Despite recent state policy reform on cannabis, federal law is still constraining the industry from moving forward. Everyone needs money to grow and without access to basic necessities like banking, the industry can only grow so much. But then, there are those brave businessmen like Jef Baker, CEO of MBank (OTC:MBNC), who are braving the terrain and standing their ground to offer creative banking services for the cannabis industry. Like many entrepreneurs of the space, he has fought and persevered to be here and he’s here to tell us that he’s not going anywhere but up.

What was the deciding factor for you to join this particular industry?

I get fulfillment out of being entrepreneurial. To me, being an entrepreneur means getting creative to solve problems. Our mission at MBank is to serve the underserved. We find where the problems exist and immediately get to work in addressing them. The cannabis industry is woefully underserved by the banking industry and we want to be a part of changing that.

What skills from your previous experiences helped you in what you are doing now?

Our bank went through a near death experience in the most recent economic cycle. This gave me the invaluable opportunity to learn how to fix problems, motivate our employees when failure seemed imminent, and then find creative solutions to thrive in a competitive environment. Fighting against all odds for survival gave me an appreciation and respect for those in the cannabis industry and what they have gone through. We also learned that creativity and innovation are at the heart of overcoming the odds. We believe our entrepreneurial spirit is part of what will bring banking to the cannabis industry.

Our bank went through a near death experience in the most recent economic cycle.

Tell me about the point in the time you realized the coming of the ‘green rush’?

Based in Oregon, this industry is growing up around us. Colorado was first to experience policy reform on cannabis, then Washington, and now Oregon. I believe in the projections that this industry will be the largest of any industry the U.S. has ever seen. In 2014, we received a message of non-objection from our regulators that allowed us to go tackle this issue and we knew the ‘green rush’ was upon us!

What are you doing to impact the industry?

We are publicly providing banking services to the cannabis industry at a time when few banks, if any, are willing to take this bold stance.

Describe your work ethic to me in one word.

Relentless.

What does a typical work day look like for you in your business?

We run a bank focused on making a difference. I spend my time managing typical bank activities, but always seek to focus on strategic initiatives related to the reason for our existence.

How do you find inspiration in this industry? What have you found that has inspired you?

I admire how hard this industry has worked against all odds. People that work so hard for what they believe and deserve, not only access to basic services, like banking, but also the respect and appreciation as any customer would.

Tell me about an esteemed achievement of yours.

Statistically, MBank had less than a 5% chance of survival according to our financial metrics 3-4 years ago. Not only have we overcome those odds, but I believe we have finished number one for Oregon-based banks in terms of Return on Assets (the ratio of income to our size). Along the way we received a “Most Creative Bank” award, recognizing the effort and innovation that helped us survive.

How would you advise someone who wants to join the industry?

As it relates to banking, we are heavily regulated. To develop a strong program in banking for the cannabis industry, much work will need to be done with regulators.

To develop a strong program in banking for the cannabis industry, much work will need to be done with regulators.

What’s your newest knowledge about the marijuana industry?

We are actively watching the governmental stance on lending. While we recognize it may take some time for sweeping changes in federal law, we are hopeful to see changes that start to allow banks to lend to the cannabis industry. In the meantime, we are working actively with private lenders that have the ability to lend and introducing them to potential borrowers in need of leverage.

If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?

It is my hope that we are talking about the significant progress made by the industry and the broader acceptance by banks. If we play a small part in helping to solve this immense problem, we will feel a strong sense of pride that the risk to make a difference was worth it.

The post Jef Baker: Braving the Terrain, Banking for the Cannabis Industry appeared first on .

Vin Maru: Invest In MJ

He has unparalleled experience, proven successes, and an insight that empowers you to make wise decisions when it comes to investment opportunities in the legal marijuana industry. When you come across an entrepreneur like Vin Maru of InvestInMJ.com, you know you’ve discovered a gold mine, an invaluable resource, a man with unwavering ambition to be an industry leader. And as we all know, leadership is not something one can claim himself, it has to be earned; and believe us when we say, Vin Maru has earned it. He is paving the way for success and educating all those who are willing to listen to do the same. Don’t let his voice fall on deaf ears and be left behind in the green rush…

What was the deciding factor for you to join this particular industry?

Being an analyst and an entrepreneur, I enjoy looking for major emerging trends and opportunities for both investments and getting involved in becoming an industry leader. About a year ago I realized that the medical marijuana industry was becoming commercialized in Canada and we were at a major turning point in how the world would view cannabis for both medicinal and recreation use. With the U.S. government starting to back off on its federal policy on drug enforcement and leaving it up to individual states to decide on its own drug laws, the case for wanting to participate in the industry became even more compelling.

As I see it, we are at the beginning stages of the industry becoming commercialized worldwide for both medical and eventually recreational use. This opened up the opportunity for entrepreneurs to start offering products and services the industry currently offers, wants, or needs… and doing so legally. The drug trade has always been there, but the only people that prospered were illegal growers or government employees who are paid on the tax payers’ dime to fight the “War on Drugs”.

I always knew that billions of dollars were being made by the illegal marijuana trade, but with the end of prohibition, the industry is becoming commercialized; those billions will now be made by entrepreneurs and investors. By positioning myself and getting involved in the legal marijuana industry at an early stage, I just wanted to get my slice of the pie, because if it wasn’t me then it would be someone else. The trend towards legalization is already in place and there is no turning back, anyone who can add value to the industry should do really well.

I always knew that billions of dollars were being made by the illegal marijuana trade, but with the end of prohibition, the industry is becoming commercialized; those billions will now be made by entrepreneurs and investors.

What skills from your previous experiences helped you in what you are doing now?

I really enjoy analyzing, researching, and connecting with the best people and companies in any industry I am involved in. I seem to find major trends as they develop and get involved at the earlier stages. Back in the mid 1990’s after graduating from a university with a finance degree, I started my own company reselling computer hardware and software. Shortly after, I realized the internet was going to be a paradigm shift in the way we communicate. I started to research the best companies in the industry and became partners with them so that I could offer their products and solutions. After one meeting with the national sales manager from Macromedia (now owned by Adobe), I became their channel partner in Canada and went on to develop internet based multimedia solutions for some of the biggest corporations in Canada.

Two years after the Dotcom crashed, I got out of sales, project management, and development. I decided then to focus my time on one of my other passions, the financial market. I saw a major trend being established in the precious metals and resource sector, so I proceeded to focus my time and energy in the commodities sector evaluating companies and looking for ways to get invested. I started creating a specialty in the resource sector, namely precious metals, and started sharing my research with others. But after a chance of meeting with the original founder of Stockhouse (Canada’s largest financial website) in Acapulco, Mexico, I decided to write a subscriber-based newsletter related to precious metals called TDV Golden Trader (which now focuses on the marijuana industry).

While I still believe in owning precious metals as a store of value, I am now mostly focused on the marijuana space as I think this will be just as big of a trend as the internet and precious metals was and still are. Being a little older and wiser, I plan on capitalizing on the emerging marijuana trend much like I was able to for the internet and precious metals by getting involved early and establishing myself as an industry leader. I have a strong background in internet technologies and financial markets and I plan on bringing both of these skill sets into all my endeavors I take within the marijuana industry.

Right now, where are you guiding your passion and energy towards?

Passion and energy are two of the major drivers to anyone’s success; I am guiding both of these towards the marijuana space to create value for the companies I am involved with or on my own business ventures. Having a strong internet and financial background, I am mostly focused on creating the best investor portal in the cannabis space and working on opportunities with companies who are or will become leaders in the legal marijuana industry. At the moment, I am evaluating dozens of investment opportunities and helping the best companies build awareness in the investor community.

As much as I am focused on the investment and business opportunities that this industry presents, what really drives me is knowing that my efforts will make a positive change for society and the world. The money to be made in this industry will be great; I hope to make a lot of it by aligning myself with the best the industry has to offer. But my passion for success is second to helping make a positive difference and a better world full of peace and love; cannabis is just a plant which will help achieve this goal.

Describe your work ethic to me in one word.

Passionate

What do you consider your weakness as an entrepreneur? Your strength?

My strength would be my analytical skills. I have been told many times that I can take a complex situation, break it down very quickly, and come up with solutions that think outside the box. My weakness would be critical manner and being brutally honest, especially of others, which can lead to offending people at times or not taking their feelings into account. Trust me, I’m working diligently on watching how I convey my critical messages but as an analytical person, it sure is difficult.

How are you differentiating yourself from the competition?

I actually welcome competition because it only makes me stronger in the long run. This industry is just opening up and there will be lots of opportunities, I can only focus on my core competencies and align myself with the best. I am being selective on the projects or companies I work with, and the only way I’ll get involved in a project or deal is if I think I can add value to it. At the end of the day, there will be other people doing the same thing I do; whether it be a financial analyst, helping companies with investor awareness and marketing, a distributor of products, or getting directly involved with a company, I just want to make sure I can add value in some capacity and excel over the competition. What differentiates me is that I am not looking to be an expert in any one thing; I would rather be very knowledgeable, well connected, and help put two and two together. This means taking a more holistic approach to my involvement in the industry and finding a good balance and fit between all the projects or businesses I am involved in.

How do you find inspiration in this industry? What have you found that has inspired you?

Putting the potential to make money aside, the inspiration I find in this industry is knowing that we are at the beginning stages of legalization and it is truly a game changer for the world. Hopefully, my involvement will help end a lot of pain and suffering – and I’m not talking about just the patients that receive medical benefits from this plant. We could have a world with less violence and crime because pot smokers are generally much more relaxed than alcoholics. Hopefully, the end of “War on Drugs” ends the “War Against People”.

Smoking pot is a victimless crime, yet more people in the U.S. are jailed and criminalized for ingesting a plant than anywhere else in the world. Marijuana was put on this earth for a reason, it’s time we nurture it and allow it to flourish legally, only then will we ever know its true purpose and potential. The change in human psychology around how we attain our freedom and rights to choose our destiny without prosecution is what inspires me. Legalizing marijuana is just one step in the right direction, especially in a world that needs healing from the evils of control.

What’s the best advice you’ve ever gotten?

I’ve been given great advice at many different times in my life. The best to-date is “believe in yourself and what you are doing, provide value, and the universe will provide everything else.”

What’s your newest knowledge about the marijuana industry?

I truly didn’t understand the medical benefits of marijuana until I started doing my own independent research and speaking to growers, medical patients, and experts in the industry. There is so much science that is now going into the industry, most of which I will never understand, but I do believe the plant has some true healing powers. Of course, if a medical doctor like Dr. Sanjay Gupta was misinformed about its medical benefits, then it is quite understandable why the rest of the world has very little knowledge about it. But that is all changing and I am quite optimistic on marijuana’s future and look forward to seeing and reading the science behind the plant. At the end of the day, the science will tell the truth about marijuana, not some politician with an opinion.

If you could rewind time to 5 years ago, how would your business be different?

Had I known back then what I know now, I would have started focusing on the marijuana industry a couple of years earlier and gotten involved on many more levels. Of course, back then, one would always be in fear of the U.S. government and DEA breaking down your door even if you were trying to operate a legal business with a medical license and pay taxes. However, it’s not too late and even now there is a tremendous amount of opportunities for growth. The fact that the industry is moving towards legalization makes it now the most optimal time to get involved.  We have just entered the sweet spot in terms of the opportunities for running a legal business. So, I am not so much focused on the past and what could have been as I am excited about the future and what it will become.

The fact that the industry is moving towards legalization makes it now the most optimal time to get involved.

What will we be seeing from you and Invest In MJ (a Division of Golden Tech Media) in the coming future?

Actually, I have quite a few companies I am excited about and am getting involved in on a business level. They see the value I can bring in terms of connections, strategic vision, marketing, investor awareness, and access to capital. I will be continually updating InvestInMJ.com with various opportunities I find and helping create awareness of the best companies in the industry. There are a couple of interesting franchise business opportunities that look promising and will be coming to market shortly. The InvestInMJ.com website is a public site with a lot of information and countless opportunities for investors to become educated and participate in the marijuana industry.

If you are an accredited investor, we have a dedicated newsletter on the site that you can sign up for. There are a couple of great private placement deals coming shortly which I am excited to share with investors and begin to connect them to the companies doing the raise. One U.S. company looks like it will be the industry leader when it comes to investing in real estate and property management for the grow industry. Another deal has the biggest celebrity name in the marijuana industry as a founding member; the company has one of the best marketing and customer acquisition plans I have seen so far. There are a couple of other companies in Canada who are getting their MMPR license very shortly, they will be raising capital, and also be going public much like Organigram did recently.

My distribution company is sourcing out the best products and technologies in the marijuana market and will be supplying them to the commercial growers. A month ago my company was able to secure a distributor partnership for one of the best LED grow lights in the industry. The manufacturer recently launched a 1000w HPS equivalent LED grow light which should save commercial growers about 50% on energy costs and has equal, if not better, PAR and yield than equating HPS bulbs. From what I see, no one else has a LED grow light that is comparable in terms of PAR and yield; the lights are truly a game changer and I can see many commercial growers wanting to move away from HPS and start incorporating these LED grow lights.

But to top it all off, the opportunity I am most excited about getting involved in is the reality TV series that I am helping put together; this will be my first foray into the showbiz world. If I can help shine a positive light on the industry and help change the world’s view on cannabis, the rewards from that effort will be more satisfying than any profit that will be made as an investor and entrepreneur.

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Alan Brochstein, CFA: 420 Investor

And here we are to finally help you answer the elusive question: how do we capitalize on the cannabis industry? We know there is great financial profit, that the industry is inevitably growing, that there are major players stepping into the field, that the potential is there; but how do we navigate? Let us introduce you to the man who will be your most trusted resource, Alan Brochstein, founder of 420 Investor. If there was anyone we’d want to start this endeavor with, it’d be him. He’s well-educated, well-researched, and his services are invaluable to taking a step in the right direction. “X” marks the spot and it all starts right here with our interview with Alan.

What was the deciding factor for you to join this particular industry?

After six months of investigating the industry and sharing my thoughts publicly on Seeking Alpha, a financial blog, I decided, just days after Sanjay Gupta’s famous reversal of his negative views on medical marijuana, to start a subscription-based service to help investors assess publicly-traded stocks in the space. I had been hoping that a major thought leader would embrace the potential medicinal benefits of cannabis. We launched 420 Investor a month later on September 15, 2013. I embarked on this journey because I felt I could play a unique role given my background to help investors sort through the ‘Wild West’ mentality that even today dominates the trading of these stocks, which are predominantly penny stocks.

What were you doing before?

I began working on Wall Street in 1986. Most recently, I was self-employed as an independent research analyst providing research and consulting to small investment advisors as well as to a firm that focused on assessing management capabilities, incentives and governance. Previously, I had worked for investment management firms from 1992 through 2006. Once I was on my own, I began contributing to Seeking Alpha, where I have shared over 600 articles since 2007. I have always believed that individuals willing to invest their time can be better served by making their own investment decisions rather than paying a broker a transaction fee or a percentage of assets, and I launched some services beginning in 2008 to help guide those choosing to invest on their own but looking for objective advice. Earlier this year, I decided to focus 100% of my time on the cannabis industry.

Tell us about the point in time you realized the coming of the green rush?

I have favored marijuana legalization since I was 15 (1980), well before I had ever consumed it and when I was a volunteer in the Libertarian Party. I was aware of the votes in Colorado and Washington in late 2012, but it wasn’t until early 2013 that I learned that there were stocks trading. My initial review suggested that the companies were real stinkers and that investors were paying insane prices. I quickly learned that there were no investment professionals focused on this opportunity. The more I researched, the more I learned about the potential medicinal benefits of cannabis. Sadly, due to our federal policy, our academics haven’t been able to conduct the kind of medical studies that are necessary, but I am hopeful that rescheduling by the DEA within the next few years will allow these studies to take place. To me, the ‘green rush’ is a triple-win, with benefits for society, entrepreneurs and consumers. Society gains as we save billions on prosecution and incarceration, receive taxes, and potentially displace expensive pharmaceuticals and toxic alcohol. Entrepreneurs have the opportunity to gain as a new legal industry is built. Consumers should end up with a higher quality, safer, and more standardized product. It’s this alignment of pragmatic reasons with an easy-to-embrace philosophical choice for most Americans that suggests to me a revolution is ahead for this industry.

The more I researched, the more I learned about the potential medicinal benefits of cannabis.

Right now, where are you guiding your passion and energy towards?

My goals are to elevate this industry and to help investors who see the opportunities ahead in cannabis to make intelligent choices. Our community focuses on finding companies that are transparent and that employ shareholder-friendly governance practices and avoiding the many opportunists. 420 Investor has succeeded beyond my wildest expectations and it has become its own 24/7 community rather than a traditional “newsletter” as it was originally intended. While I continue to devote the bulk of my time to it, I have also begun to address an additional opportunity. There are so many entrepreneurs seeking capital who are forced, due to the federal illegality, to rely on friends and family rather than being able to turn to banks or Wall Street to fund their ventures. At the same time, many individuals would like to invest directly in the industry, but it is very difficult to find potential opportunities. We launched 420 Funders as a platform to connect cannabis companies with accredited investors, helping to solve what I see as a major potential barrier to success for the industry.

Describe your work ethic in one word.

Integrity.

Tell us about a time in your career that didn’t go as planned and what you did about that. How did you handle it?

My career had a shocking jolt early on. I was just 23 when I found information suggesting that my boss had violated company rules and potentially security laws as well. I turned him in, not knowing how far up the supervisory chain the violations might go – this was before whistle-blowing was viewed positively. I wasn’t sure how this would play out and feared it would cost me my own job for not being a “team player.” I ended up taking a leave of absence from my six-figure job while things were sorted out, but this proved to be a great decision, as I ended up having time to spend courting my eventual wife. Later in my career, I walked away from another situation that I felt wasn’t right.

What book have you read that you’ve been inspired by? Any particular read we should put on our list?

As someone who has focused the past 15 years on studying what separates good companies from bad ones, I have learned a great deal from Clayton Christensen, a Harvard professor known best for coining the term “disruptive innovation”. I have read most of his books – starting with the first one, The Innovator’s Dilemma. More recently, I read Driving to Perfection by Brian Fielkow, a personal friend of mine who shares some brilliant insight on building an ethical corporate culture.

Tell us about an esteemed achievement of yours.

I toured Denver in mid-January because I wanted to see first-hand what was going on at ground-zero. Several subscribers learned of my plans to visit and joined me for what ended up being an incredible few days of investigation that also included a last-minute dinner for subscribers from the area as well as some of my industry contacts. The experience was so great that I told my partners at Marketfy, which provides the technology, customer support, and billing for 420 Investor that we needed to have an industry conference. I am not sure how we pulled it off, but Marketfy hosted the first “WeedStock Conference” in late June at the Westin in Denver and it was a resounding success for the dozens of companies and hundreds of investors who attended. For me, it was a great week, as I also spoke on a panel at the National Cannabis Industry Association’s conference that preceded the WeedStock Conference.

What’s the best advice you’ve ever gotten?

I spent seven years building a successful investment research and consulting business, but I was finding it very difficult to keep up with my responsibilities due to the demands on my time from 420 Investor. Kyle Bazzy, president of Marketfy, told me that I needed to focus 100% of my time on 420 Investor, and he was right. It was very difficult to walk away from helping my customers who had been with me for years and to step outside my comfort zone, but it was a bold move that I will never regret. I would suggest to anyone that when a once-in-a-lifetime opportunity presents itself to you, seize it.

What is the most important thing for us to know now about the legal marijuana industry?

While many think that we already know the best way to do things when it comes to growing and selling cannabis, I would suggest that the unshackling of the industry will lead to tremendous innovation. We should expect as the cannabis industry becomes legal to see all sorts of bright people from other industries enter and apply business processes that so far haven’t mattered to an industry operating in the shadows. There will be intense competition to produce a high-quality product at a low price in an environment that demands regulatory compliance.

We should expect as the cannabis industry becomes legal to see all sorts of bright people from other industries enter and apply business processes that so far haven’t mattered to an industry operating in the shadows.

If we are sitting across from each other a year from now, how will our conversation about the ‘green rush’ be going?

I expect when we are reconvening in a year that I will be able to point to much progress for the industry in terms of operational results and access to capital. We will have more institutional investors in the market, and individuals will have much better choices than they do presently. Marijuana stocks won’t be relegated solely to the penny stock arena, and we will see magazines like Forbes, Fortune, and Bloomberg Businessweek documenting the growth and the potential for the industry.

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Dooma Wendschuh: ebbu, LLC

How do you get ahead of the ‘green rush’, you ask? Sit down, listen closely, and ready yourself to take action, because the interview below reveals it all. Now, be advised… his words of advice are not for the faint of heart. His research has led him to stake his claim in the roots of the movement instead of the branches, his business plan has been calculated for success, and his work ethic is fueled by a close friend’s motto, ‘Don’t be a pussy.’

Meet Dooma Wendschuh, Co-Founder and CEO of ebbu.

What was the deciding factor for you to join this particular industry?

Initially, I was looking for an investment opportunity in the cannabis industry. Like many others, I was interested in participating in the green rush. I had some money I wanted to invest, and knew that the best margins would be found in companies which touched the plant, as opposed to those which made ancillary products. I was looking for a private placement opportunity with a start-up that touched the plant in some way. But as I looked into the industry, I just couldn’t find a company I wanted to invest in. There were lots of grow operations and dispensaries, but those didn’t seem like a good long term investment. It couldn’t be clearer to me that cannabis will soon become a commodity – prices will fall and the currently inflated margins will normalize. And the more I looked into the industry, the more I came to realize that there were huge problems that needed to be solved – problems that no one else was addressing. There was a clear need for a product like ebbu. So I sold my shares in the company I co-founded and had been operating for the past 13 years and decided to jump into the cannabis industry.

What were you doing before?

In 2001, I co-founded Sekretagent Productions with my good friend Corey May. We wrote and produced TV commercials, films, and video games. Sekretagent Productions is best known for the Assassin’s Creed franchise, our work on the Prince of Persia franchise, and most recently Batman: Arkham Origins. I sold my shares in January and Corey now runs the company himself.

Tell me about the point in the time you realized the coming of the green rush?

The day Amendment 64 passed in Colorado and I-502 passed in Washington I knew things had changed forever. There was no turning back. The train had left the station and you were either on the train or on the tracks.

The day Amendment 64 passed in Colorado and I-502 passed in Washington I knew things had changed forever.

Right now, what are you guiding your passion and energy towards?

Every ounce of my being is being focused on ebbu and building this business into a leading global brand. Let’s say a cat runs across a bear in the forest. That cat is just a tiny little thing.  The bear could destroy it with one swipe of his paw but he won’t because the cat has this secret weapon. Even though the cat is tiny compared to this giant grizzly bear, it can do something the bear could never do. It’s able to focus every single ounce of its being, every bit of life energy it has into a single moment, the moment it unleashes its hiss. And when that cat hisses, the bear will run away. I’m the cat right now. ebbu is my hiss while the cannabis industry is the bear.

Describe your work ethic to me in one word.

Relentless

Tell me about a time in your career that didn’t go as planned and what you did about that? How did you handle it?

Nothing ever goes as planned. The secret to success is an ability to adapt to change – to pivot and roll with the punches. I remember working on a film project once and we needed to get some footage with clouds in the sky. Weeks went by in LA and weeks went by without a single cloudy day. We didn’t have the money to CG in the clouds. But I grew up in Miami and I knew there were always nice puffy clouds there.  So I grabbed the camera, hopped on a plane, flew home to Miami, and got the shots myself. I’m not a DP. I’d never shot a film camera in my life. But I got it done. That’s all that matters in the end – the job was done.

What book have you read that you’ve been inspired by? Any particular read we should put on our list?

From a business perspective, I really like Getting Things Done by David Allen. I also like Think and Grow Rich by Napoleon Hill. It’s a classic. I’ve also been inspired by Trout Fishing in America by Richard Brautigan, a book that really expanded my horizons.  And some of the writings of Henry Rollins who taught me a lot about discipline.

Tell me about an esteemed achievement of yours.

My wife, Kathia, is the greatest thing in my world. My greatest achievement was whatever I did to make her fall in love with me. I wish I knew how I did it!

What’s the best advice you’ve ever gotten?

My friend Diego lives by a very simple motto: “Don’t be a pussy.” It’s so easy to be paralyzed by your own fear or desire not to stand out in life. The best things come to those who are bold, who don’t fear rejection, and who aren’t afraid to stand out and take what they want. Wasn’t it Wayne Gretzky who said, “You miss 100% of the shots you don’t take”?

What is the most important thing for us to know now about the legal marijuana industry?

Most people don’t understand how big this is. It’s bigger than the internet. How many people use the internet every day? About two billion. How many of the 7 billion people on this earth use some form of recreational psychoactive? Almost all of them. For better or for worse, we are a culture that benefits immensely from recreational psychoactives. At least among my friends, it’s hard to find a romantic relationship where the couple was not brought closer through responsible use of alcohol. I challenge you to find a start-up, or any company really, where productivity was not increased by the tradition of a morning cup of coffee. We’re at this epic moment in history where the shift from a world with three legal choices of recreational psychoactives to a world where there is now a fourth. A fourth choice which is generally regarded as healthier and safer than the others.  Which is also credited with unleashing creativity in musicians and artists with proven medical benefits.

Most people don’t understand how big this is. It’s bigger than the internet.

If we are sitting across from each other a year from now, how will our conversation about the green rush be going?

It’s hard to say what things will look like in a year. I’m hopeful the movement will continue and we’ll be closer to federal legalization – but there are so many things that could cause it to go the other way.

Alcohol’s near monopoly as the legal psychoactive for leisure and social activities has allowed Anheuser-Busch to be the largest advertising spender in the past five Super Bowls. Now here comes cannabis, and brands like ebbu to challenge that monopoly. Should the big booze brands be afraid? Follow their lobbying dollars and you’ll see they already are.

We have to be careful. The alcohol companies stand to lose a lot if cannabis becomes federally legal as a recreational substance. We’ve made great progress so far, but we can’t rest on our laurels. There’s going to be a lot of lobbying money going into stopping the spread of legalization. It’s important to know what we’re up against and never stop fighting. We’re closer than we ever have been – but we’re not there yet and we can’t give up until we are.

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