NCIA conference in Denver, 2015. Bruce Kennedy, WeedWorthy
~
It’s getting near the end of the National Cannabis Industry Association (NCIA)’s second annual Cannabis Business Summit and Expo in Denver, and Troy Dayton looks exhausted but elated.
 
Dayton is CEO of the ArcView Group, a California-based firm that is one of the legal marijuana sector’s leaders when it comes to bringing together cannabis businesses and investors.
 
ArcView had its own event in Denver several days earlier, and there’s been a lot of overlap in the people attending both conferences. Dayton says he’s been taken at how much more sophisticated, serious and well-funded the  participants appear to be compared to last year.
 
“I think it’s because people recognize that there really is a real opportunity here,” he tells WeedWorthy, “and it’s going to start taking off.”
 
In comparison, Dayton says, 2014 took place during a feeding-frenzy of interest and investment; as both Colorado and Washington State began their experiments with legalized recreational cannabis.
 
“It was a lot of hype and excitement,” he remembers, “and I think there was a little bit of a hangover from that.”
 
Part of that hangover came from the SEC’s crackdown on promoters of some marijuana-related penny stocks, and from federal warnings to potential cannabis industry investors about the possibility of fraud.
 
Dayton thinks the market has not only calmed down in the ensuing months, but has also “smartened-up a little bit to these penny stock pumpers,” he says.  “And also the private market, the quality entrepreneurs, have really shown up, and that is opening up the investors’ check books in a big way.”
 
That being said, the legal cannabis sector is still a business with its own set of risks.
 
“Look at the dot-com boom, look at the social networking boom,” Dayton says. “Not everybody’s going to be successful.”
 
“But one thing I think that makes this different (compared to) those other booms is that we’re not talking about innovation or customer adoption driving things,” he adds. “We’re talking about removing barriers to a market that already, boldly exists underground. I mean, if people are willing to break the law to get this product, that’s what we call a product/market fit, right?”
 
Another sign of how much has changed over the past 12 months are the cultural changes underway nationally.
 
“There’s been a remarkable shift, because cannabis prohibition does not withstand the light of day,” Dayton adds. “If you shine a light on this thing, any reasonable person is going to come to the exact same conclusion: which is that prohibition is a terrible idea, and that people that consume cannabis are just like anybody else.”
 
He also agrees with the media parallels being drawn between the issues of legal cannabis and gay marriage, when it comes to social tolerance and acceptance. 
‘In fact what’s happened over the last week on gay marriage has really given me a sense of hope,” he says. “We know that things that seemed impossible just moments before become possible.”
 
Dayton is predicting some form of federal cannabis legalization will start taking place within the next four or five years.
 
“It’s going to come in the form of the federal government letting the states decide what they want to do,” he says.  “So it won’t be legal everywhere, but many states will follow suit.”
 
~
July 19, 2019

You Can Now Buy Jeans Made Out…

A team of California denim experts are making big moves in the world of hemp fashion.
July 19, 2019

I wanted to try medical marijuana. Why…

Medical marijuana may have come to the states, but there is no integration with the medical community. Patients get their…
July 19, 2019

Hype, Hops, and a Lot of Hope:…

With the exception of CBD, few cannabis products have received as much corporate hype as weed-infused drinks.
July 19, 2019

Louisiana 'weeks’ away from medical marijuana rollout…

Medical marijuana could finally be available for Louisiana’s sickest patients in “the next few weeks," according to grower, GB Sciences’,…
July 18, 2019

Ohio lawmakers vote to decriminalize CBD oil,…

The Ohio House on Wednesday voted 88-3 in favor of legislation that would move Ohio closer to decriminalizing hemp and…
July 18, 2019

First Ever Pot Cafe To Open In…

The first ever cannabis cafe in the nation will open later this year in West Hollywood, right across from a…
July 17, 2019

Colorado: Five Weed-Friendly Cabins, Campgrounds and RV…

Colorado's very great outdoors attracted tourists long before legal cannabis did, but since recreational marijuana was legalized in this state,…
July 17, 2019

North Dakota farmers grow CBD hemp for…

At about a dollar a seed, this hemp has to be treated with the utmost care.
July 17, 2019

Worried about the bee population? A study…

Being wind pollinated, hemp plants produce large amounts of pollen that are attractive to bees.
July 17, 2019

Senate Schedules Hearing On Marijuana Business Banking…

In one of the clearest signs of marijuana reform's growing momentum on Capitol Hill, a Republican-controlled Senate committee has scheduled…