Bay Gold: the brand appropriate to a junior vice-president of GT
August 18, 2015 12:21 AM Subscribe
Big Pot: the California Democratic party added marijuana legalisation to its party platform - "Earlier this year Founders Fund, a venture capital firm co-founded by Peter Thiel, led a $75m investment round into Privateer, a private equity group focused on cannabis. It is the biggest single investment in the US cannabis industry to date: 'What Privateer is doing is looking like a Procter & Gamble or a Coca-Cola approach. The real value in the market is going to be having the Coke-calibre brand...' Meanwhile, a distinctly California-style backlash is already growing [and] the US has become an exporter of illegal cannabis to Mexico, as cultivation in the US has increased."
Kennedy recalls one "scary" meeting at a Starbucks in Portland, where he met with a man who had contacted him on LinkedIn. "He slid his card across the table, and it said DEA [Drug Enforcement Agency]," Kennedy says. "My heart rate rose a bit. Then he slid this white envelope across the table and I thought, 'What have I done?' But it turned out to be his résumé." The man had spent most of his career as a drug-busting special agent. Now he is Privateer's general counsel.
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