May 25, 2017

Silicon Valley investors betting on legal marijuana



Jim Patterson, CEO of medical marijuana delivery service, Eaze, works at his company, Thursday, March 30, 2017, at their offices in San Francisco, Calif. (Karl Mondon/Bay Area News Group) Silicon Valley investors are known for pouring money into risky bets like flying cars and asteroid mining. Now, a handful are diving into one of the few industries that makes most of their peers squeamish — pot.

As the marijuana industry soars, with New Frontier Data predicting legal pot sales will balloon to more than $24 billion by 2025, a handful of venture capitalists are climbing on board, albeit cautiously. Those putting money into the industry say it’s a rare chance to stake an early claim in a lucrative market with little competition from other investors. But they’re keeping one eye on President Donald Trump’s administration, watching for signs of a federal crackdown that could derail the burgeoning industry.

“It’s a completely untapped market with huge opportunity,” said Tusk Ventures Founder and CEO Bradley Tusk, an investor in Eaze, a marijuana delivery company founded by Orange County entrepreneur Keith McCarty.

For Tusk Ventures, a VC firm that specializes in helping startups like Uber and FanDuel navigate complex regulatory landscapes, the controversial marijuana industry […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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