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Sunday, October 05, 2014 9:29:03 PM
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For example, with much fanfare, and alongside the ex-president of Mexico, Vicente Fox, former head of Microsoft corporate strategy James Shivley announced this year that he was creating “the Starbucks of marijuana.” His plan? To buy up marijuana stores in Colorado and Washington state, “mint[ing] more millionaires than Microsoft in this business.”
And so, in the midst of America’s great debate about marijuana legalization, Big Marijuana is born. Pot legalization is no longer about a few friends calmly sharing a joint on the weekend in their own living room. Inevitably — and ever so swiftly — it has become about big business and big bucks.
Shivley isn’t the only one preparing to cash in. At least three marijuana vending machine companies, already earning millions of dollars in revenue from medical marijuana “patients,” have announced giant expansion plans. “It is like a gold rush,” remarked one vending executive. A couple of Yale MBAs recently created a multimillion-dollar private equity firm dedicated solely to financing the marijuana business. As one of them explains, the firm has become inundated with pitches from businesses who plan to become the “Wal-Mart of marijuana.”
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