Cannabis: America’s Equality Industry
Welcome to the biggest pot conference of the year.
MJBizCon 2019 is rockin’ and rollin’ today.
Held at the Las Vegas Convention Center a few blocks from the Vegas Strip, MJBizCon puts us in a prime location for the marquee cannabis event of the year.
Yesterday, I took some time to catch up with a few West Coast colleagues.
Today, it’s all about the comings and goings on the conference floor.
Let’s jump right in.
A Who’s Who List of Cannabis Movers and Shakers
Today we kicked off with a round of talks from various stakeholders, experts and CEOs in the marijuana industry.
This included discussions on new cannabis markets here and in Europe; the growth paths for plant-touching enterprises, banking and business strategies; as well as a lot of bold predictions on where cannabis will go from here.
All of it is very exciting stuff. And all I can say is the cannabis industry is one of a kind.
Well, maybe not so much. Here’s why.
Equality Through Cannabis
Cannabis has something going for it that no other industry does.
The cannabis industry is so new it isn’t beholden to the same billionaire boys club corporate culture that many established, old-guard industries are victim to.
Simply put, women and minority entrepreneurs are thriving in the cannabis industry, unlike any other.
And while corporate culture is not a top-line item we look at as investors, we do consider it because it is important.
After all, a poor corporate culture can even plague new companies. Look no further than Uber for that example.
This aspect of the cannabis industry, one that gives people — ALL PEOPLE — hope for a better life and more opportunity, makes this industry unique.
And that goes for both those folks working to grow the industry and those investing in it.
But legal cannabis’ impact on social and corporate norms won’t stop there… It could right other wrongs caused by prohibition in the U.S.
The MORE Act, recently passed by the U.S. House Judiciary Committee, contains provisions that would specifically work to help communities victimized by the war on drugs. Specifically, the act removes barriers for expungement and resentencing trials for those already convicted or now facing conviction for minor marijuana offenses.
Additionally, the act directs that a percentage of tax revenue from the cannabis industry be used for community projects in areas most affected by the war on drugs.
As I said yesterday, cannabis supporters and pot investors are living in interesting times.
And while it’s easy to get caught up in all the buzz caused by new strains, new extraction methods, new medical applications and all the shiny new lab equipment…
One of the biggest takeaways from MJBizCon is that legal cannabis is more than just an industry.
It’s actually a path to a better, more just America.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily