Wall Street sees opportunity in marijuana
Hoping to cash in if pot becomes legal nationwide, entrepreneurs pitch their ideas to potential investors
Los Angeles Times (US)
Saturday, March 23, 2013
Saturday, March 23, 2013
A number of businesses in the burgeoning U.S. cannabis industry are trying to enlist Wall Street's help. Some entrepreneurs see marijuana heading down the same path as Prohibition, which banned the manufacture, transportation and sale of alcohol from 1920 until it was repealed in 1933. "More and more people see the inevitability," said Brendan Kennedy, chief executive of the Seattle private equity firm Privateer Holdings, which targets cannabis-focused start-ups. "They see that the Berlin Wall of cannabis prohibition is going to come down."
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