The PayPal Of Recreational Pot: Startup Aims To Eliminate Cash From Washington State Marijuana business

Everyone uses cash because banks, which are federally regulated, aren't keen on the idea of getting into business in an industry that is still federally illegal.

WASHINGTON: Recreational marijuana may be legal in Washington state, but in many ways, it’s still a risky business. The biggest risk is that nearly all transactions happen with cash. And not just customers buying marijuana, but much bigger transactions when retailers buy from the producers that actually grow the pot. Everyone uses cash because banks, which Read the full article…

Pitching Marijuana Startups Brings New Meaning To High Tech

Since Colorado and Washington first voted to legalize recreational marijuana use in late 2012, the legal cannabis market has grown from $1.5 billion in 2013 to $2.7 billion last year, according to industry estimates. That kind of velocity gets the attention of investors, many of whom focus on tech.

CALIFORNIA: Investing in a social network closely tied to a booming industry sounds great, until Apple kicks the thing you invested in out of the App Store because the platform is all about marijuana. It’s one of the many things that can happen when two of the fastest growing industries in America come together, as is Read the full article…

Peter Thiel’s Fund Invests In Marijuana Equity Firm

Founders Fund announced Thursday that it has made a multi-million-dollar investment in the world's first private equity firm investing exclusively in the legal cannabis market.

WASHINGTON:  Peter Thiel, one of the early investors in Facebook, Lyft and Spotify, is turning his attention to marijuana. Founders Fund announced Thursday that it has made a multi-million-dollar investment in Privateer Holdings, the world’s first private equity firm investing exclusively in the legal cannabis market. Founders Fund is backed by Peter Thiel, a co-founder Read the full article…