Investors Are Funding Cannabis Startups Essay

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Economic Impact of Cannabis

The economic-themed article chosen for this paper is from Forbes, and it takes a position that would have been considered controversial, even outrageous, just a few years ago. The writer asserts that marijuana is considered the "best start-up opportunity" for entrepreneurs in 2015. This paper will present a review and critique of the article. At the end of the bibliography the link to the story is provided. Marijuana can become a huge boost to state's economies, and in time, according to the article, many states will benefit economically.

Why Legal Cannabis Is 2015's Best Startup Opportunity

Journalist Carol Tice, who covers entrepreneurship issues and startups for Forbes, explains that helping develop the legal marijuana industry is a smart way to launch a business in 2015. Twenty-three states now have legal marijuana for medical purposes, which means with a doctor's prescription (and a state ID in many cases) a person can legally purchase small amounts of pot. She doesn't go into what maladies medical marijuana is prescribed for, but she does explain that while buying marijuana is only legal in two states at the present time (Colorado and Washington State), two other states (Alaska and Oregon) will have legal marijuana for sale over the counter later in 2015. In fact Alaska's new law goes into effect later in the month of February, Tice notes.

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"It's just a matter of time before more states get on the bandwagon," Tice explains, and that spread of legalization will "open up huge new markets," and startups that get launched this year will be fully ready to profit from this new demand that is on the horizon (Tice, 2015). She doesn't explain how a startup in a state where marijuana is illegal would be able to grow the cannabis in anticipation of being able to sell large quantities of various strengths in legalized states, but she obviously believes there is a huge market where is already legal, or about to be legal.

Because new industries aren't "spawned…very often," legal marijuana may be the "best ground-floor opportunity" since the days when the Internet was just being developed (Tice, p. 1). Last year, according to Factbook, about $1.6 billion to $1.9 billion was raised through legal medical marijuana sales; and an additional $600 to $700 million was sold for "legal, recreational use" in Colorado (Tice, p. 2). Over the next three years, the estimates….....

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Latest APA Format (6th edition)

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"Investors Are Funding Cannabis Startups" (2015, February 09) Retrieved June 6, 2026, from
https://www.aceyourpaper.com/essays/investors-funding-cannabis-startups-2149004

Latest MLA Format (8th edition)

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"Investors Are Funding Cannabis Startups" 09 February 2015. Web.6 June. 2026. <
https://www.aceyourpaper.com/essays/investors-funding-cannabis-startups-2149004>

Latest Chicago Format (16th edition)

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"Investors Are Funding Cannabis Startups", 09 February 2015, Accessed.6 June. 2026,
https://www.aceyourpaper.com/essays/investors-funding-cannabis-startups-2149004
   

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