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By Sean Martin
January 8, 2015 13:53 GMT
PayPal founder Peter Thiel's investment firm has become the first institutional investor to pump money into the marijuana industry.
Thiel's investment firm, Founders Fund, led by partner Geoff Lewis, has acquired a minority stake inPrivateer Holdings, the Seattle-based owner of Leafly.com – a review site for medical marijuana, which also serves as a medical marijuana grower in Canada.
Neither Founders Fund nor Privateer Holdings disclosed the terms of the agreement, but Lewis said that investing in the cannabis business "is just a slightly more extreme version of something we've shown in our other investments that we're comfortable with. We're fine with investing in businesses with regulatory ambiguity, because we believe that regulation follows public sentiment."
Chief executive of Privateer Holdings, Brendan Kennedy, said: "This is an important milestone in the transition of this industry from a state of prohibition to a state of legalization."
So everyone was wondering who would dominate the California cannabis industry. Could it be the Pinoleville Pomo Nation? Their proposal would cultivate massive amounts of cannabis. Will it be taxed and regulated? Will they be allowed to send it across state lines? What will it do to prices? What about the small farmer? Tweet your thoughts @JustSayCARE.
BY GLENDA ANDERSON
THE PRESS DEMOCRAT
January 9, 2015, 9:39PM
News that a Mendocino County Pomo tribe is building a $10 million indoor marijuana- cultivation facility on its rancheria just north of Ukiah has been met with a mix of surprise, concern and a sense it was inevitable as pot growing becomes increasingly common and legal.
“The tribes are just getting out ahead of the game” in preparation for the eventual legalization of marijuana for all uses in California, Mendocino County Supervisor Dan Hamburg said.
Coachella Lineup Announced!!!
Don't miss out on the 2nd largest music and art festival of the year!
We LOVE Coachella but did you know they are cannabis UNFRIENDLY! That's why we created the GREEN Oasis featuring the finest cannabis in the world. This is an opportunity for your brand to be represented at a retreat 5 minutes from the festival. Here's what you get by participating:
• Turn key production and marketing
• Association with a premium cannabis event
• Exposure to a demographic of influencers
• Connection to festival celebrities and VIPs
• Full integration of your brand into our event
• Potential print and online exposure
For more information contact Susan@JustSayCARE.org. Space is very limited and available on a first paid first reserved basis.
Susan Soares has written for Cannabis Now Magazine, Alternet, and Sensi Magazine.