198
But if you want to really glimpse the future, look north to Canada where cannabis will be coast-to-coast legal in the second quarter of 2018. It will then become a fully regulated, taxable commodity, just like liquor. (The police in Ontario will even start carrying the equivalent breathalyzer devices.)
Think of Canada as a test market for things to come. We can learn a LOT.
And why will this be part of our future? Because governments will do almost anything to find new sources of taxation. (i.e. State lotteries.) So, sure, cannabis will be legalized almost everywhere. It’s inevitable. But that doesn’t mean it will be a slam-dunk for most entrepreneurs and early-stage investors.
For some, yes, but not all. Because when too many people get the same idea, at roughly the same time, and then mostly do it wrong — it’s never good.
Thus cannabis production in Washington and Oregon has gone wild, and way too much pot is swamping current consumption and distribution channels. Of course, it will eventually even out. But for now, it’s important to see the cannabis boom as a life-changing, fortune-building, multi-faceted event that’s spanning many niches and sectors, requiring some really clever marketing.