Would-be entrepreneurs flock to marijuana business conference in Manhattan

www.rawstory.com...

Marijuana is illegal under federal law in the United States, but more than 300 attendees paid $500 each to attend the Cannabis Business Expo at a high-end hotel in Manhattan’s Times Square, hoping to profit if it becomes legal by the end of the decade.

The expo this week failed to attract any large publicly traded consumer or agriculture companies that could benefit if and when pot gets the federal blessing, and drew a mixed crowd. One twenty-something man wearing a hat that read “Wake and Bake” stood beside a group of men in dark suits who would have been at home at any financial conference.

Not far away, a former broker at Stratton Oakmont, the Long Island, New York, brokerage at the center of a stock manipulation scheme that was the subject of the film “The Wolf of Wall Street,” chatted with a former player for the New York Jets pro football team, about the prospects of marijuana-based biotechnology companies.

The spirit of entrepreneurship is alive and well in the US and when main stream business take an interest in a trend, the culture changes.
Is this a positive move or negative.

I see opportunities with new start up companies and just might diversify some funds into these new financial opportunities.

Lead, follow or get out of the way....it's going to happen!!

a reply to: olaru12

All the right times for all the wrong reasons. They surley dont endorse marijuana as a medicine thats use is for a plethora of illness and very astounding pain medication. Plus its ability to seek and destroy cancer cells.

No they care not of its medical properties only of its monetary capabilites which is very sad to say the least.

a reply to: MGaddafi

With MJ it's different though.

There are legitimately two markets for the stuff.

The medicinal market, which is already somewhat saturated in states that allow it. Then there's the recreational market.

The latter is the one that will bring on the 'green rush' so to speak. Much like alcohol did after prohibition ended.

I work in the former industry here in Canada, and we are truly excited about the prospects of recreational use, because it will lead to our voices being heard as more legitimate once the social stigma has subsided.

~Tenth

~Tenth

a reply to: olaru12

Warren Buffet has already jumped on the legalization band wagon. George Soros has also been pushing for legalization.

With that being said, I would be willing to bet my life that the government will create as many laws *regulations* as possible so that it will prevent us "little" entrepreneurs from making a living off of legalization.

Rest assured though, the likes of Warren Buffet, will be granted monopolies on a silver platter courtesy of government officials elected by the "little people"........

Just more false hope for the people, more crony capitalism for the wealthy.

a reply to: seeker1963

With that being said, I would be willing to bet my life that the government will create as many laws *regulations* as possible so that it will prevent us "little" entrepreneurs from making a living off of legalization.

I can guarantee you this is the case, we see it already in canada.

The only reason that we don't have full on legalization in Canada, is so that big business can get their foot in the door first.

Like tobacco companies converting their manufacturing for pot growing instead of the tobacco. That's why we can't allow them to make us wait for years. The little people need to be able to get in on this. Otherwise it's just another industry the 1% will monopolize.

~Tenth

a reply to: olaru12

If it becomes legal in NY I will go into business selling food and beverages with a side order of it.

I cant believe this is such an issue for us. I serve alcohol which is much worse for society and people personally.

originally posted by: tothetenthpower
a reply to: seeker1963

With that being said, I would be willing to bet my life that the government will create as many laws *regulations* as possible so that it will prevent us "little" entrepreneurs from making a living off of legalization.

I can guarantee you this is the case, we see it already in canada.

The only reason that we don't have full on legalization in Canada, is so that big business can get their foot in the door first.

Like tobacco companies converting their manufacturing for pot growing instead of the tobacco. That's why we can't allow them to make us wait for years. The little people need to be able to get in on this. Otherwise it's just another industry the 1% will monopolize.

~Tenth

Either way, I guess since the 1% are getting their ducks in a row, legalization is on the way. Good news?

It will be interesting to watch the legislation fly to promote corporations, suppress individual small businesses, and set up the corporate prison systems for a large windfall.......

a reply to: olaru12

You know it's legal here in Colorado... but we're still going threw growing pains.
There's a federal law then prevents Banks from giving accounts to 'This' type of business.
making it rather dangerous for store owners who were forced into a cash only biz. and we're talking lots and lots of cash here!

Our latest warning isn't about pot itself but what else they taken to putting THC in... Candy...
the fear now with Halloween kids will get their hands on someone these laced candy...

So was it a good thing for my state?
Well... Marijuana related traffic fatalities are up 100% and we're only 8 months into this new law coming into effect.

Did anybody think that with the high demand for pot that somebody would not get rich?

Were there any discussions about possible sabotage by rival business groups?

a reply to: tothetenthpower

Ahhh inside info very much pleased to hear.

a reply to: tothetenthpower

The green Rush has been happening for decades, it's just not happening legally.

a reply to: tothetenthpower

Well I assume it's going to be more like wine and tobacco, sure Winston Salem and Marlboro have massive markets but so do the fine cigars makers and conneseauir types. There will always be a market for that.

originally posted by: Hoosierdaddy71
Did anybody think that with the high demand for pot that somebody would not get rich?

I plan on being one of them. There will be an influx of publicly traded options soon.
Ground floor opportunities will be everywhere. It will be a gamble but I'm thinking of going with
Hemp for industrial/paper/fiber use and not MJ on part of my 180 acres currently in onions and cotton.
And perhaps a few $$$ in someones retail or processing facility.

originally posted by: HardCorps
a reply to: olaru12

You know it's legal here in Colorado... but we're still going threw growing pains.
There's a federal law then prevents Banks from giving accounts to 'This' type of business.
making it rather dangerous for store owners who were forced into a cash only biz. and we're talking lots and lots of cash here!

Then the MJ startups are going to have to do like the big boys do and establish offshore and European accounts or perhaps trade in Bitcoin.

It truly is a lead, follow or get out of the way situation. Things are happening fast.

More and more states are going to legalize and open up a whole new bureaucracy of taxing, regulation, quality control, environmental etc.

This could develop into another software styled boom, but with agriculture and processing. In five years the industry could be exporting products made from hemp govt. regulations could be relaxed from the 1930 reefer madness mindset.

Money makes the world go 'round, and these folks will be lobbying their political buddies to hurry up and legalize. The more the merrier.

originally posted by: onequestion
a reply to: tothetenthpower

Well I assume it's going to be more like wine and tobacco, sure Winston Salem and Marlboro have massive markets but so do the fine cigars makers and conneseauir types. There will always be a market for that.

True there will be, but smokers are very much on the decline.

18.5% is the last estimate for tobacco.

It's as high as 38% for users of MJ.

~Tenth

a reply to: olaru12

They won't be legalizing hemp for personal production.

It will most likely still be illegal to grow and process hemp.

~Tenth

a reply to: tothetenthpower

38 percent? That sounds high (no pun intended, at all, at all). Is that for people who have 'experimented in college', people who imbibe once a year, or some other measurement? Is it for the human race, or for people in Europe, America, Canada, Madison Wisconsin? Thanks, that's an interesting figure.