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.”
 
~
February 19, 2020

A Pain Management Doctor Shares How Marijuana…

With the opioid crisis on the minds of communities and governing bodies all over the United States, a New York…
February 19, 2020

Colorado sold a record $1.75 billion of…

This time last year, it appeared that Colorado's industry was plateauing. Now it's surging.
February 19, 2020

Virginia: Veterans fight for access to medical…

Veterans fighting for looser cannabis laws took to the Capitol today for an impromptu Lobby Day as the discussion about…
February 18, 2020

Massachusetts’ burgeoning marijuana industry is creating jobs…

With the burgeoning marijuana industry comes new jobs. And most everyone taking these jobs is entering the industry for the…
February 18, 2020

Report: NFL CBA Proposal Includes Reduced Penalties…

in Sports

The proposed NFL collective bargaining agreement reportedly features far less stringent policing of marijuana use by players.
February 18, 2020

Medical Marijuana Patients With ADHD Use Fewer…

When people with attention-deficit hyperactivity disorder (ADHD) consume more medical marijuana they tend to use fewer prescription drugs, including powerful,…
February 18, 2020

U.S. Academics Are Diving into the Cannabis…

“Hemp and marijuana has really come to the forefront in a lot of economic sectors in the country. We’re not…
February 17, 2020

Missouri medical marijuana job fair attracts hundreds…

The state of Missouri awarded nearly 350 operating licenses for the medical marijuana industry. Now there are thousands of jobs…
February 17, 2020

Canadian seniors study aims to find out…

Pilot study of long-term care residents tests therapeutic effects of cannabidiol on seniors.
February 17, 2020

Here Are All the U.S. States That…

Until recreational and medical cannabis are federally legalized, it’s nice to know where each state stands when it comes to…
February 14, 2020

Browns, Bengals fans aren’t eligible for medical…

in Sports

Cleveland Browns and Cincinnati Bengals fans can’t legally use medical marijuana to treat the suffering caused by their teams, the…