California: What Happens If Marijuana Is Legalized?
When we speak of legalizing marijuana we are really speaking of the Great Cannabis Debate. Come November, Californians will vote on Proposition 64, the Adult Use of Marijuana Act, which could bring safety and security for both cannabis consumers and farmers, and the sales taxes accrued could provide much-needed revenue to our state. Let’s look at a short list of possible unforeseen ramifications.
Local mom-and-pop cannabis growers fear that if we legalize the cultivation and distribution of marijuana, its distribution will be taken over by large corporations, such as Seattle’s Privateer Holdings, a private equity firm that strategically invests in legal medical cannabis. It was founded in 2010 by MBAs from Yale and San Francisco State University with ambitions to create new brands of pot products. The company’s portfolio has expanded to include a partnership with the Bob Marley estate, just as the Marley family launched the...
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