The Bengal Bite 🐯 | The Momentum of Cannabis | May 29, 2020
According to a majority of Americans, cannabis legalization has been a success thus far. The collective change in attitude towards cannabis has been remarkable. Previously, cannabis was stigmatized. Presently, cannabis is now legal (in some form) in a majority of states, state governors welcome it with open arms, and universities offer cannabis courses. "The momentum of cannabis" only continues to build.
Ray Dalio notes that "over the course of our lives, we make decisions that are essentially bets." Bengal's bet is placed on the positive shift in attitudes, favorable demographics, projected growth, and "momentum of cannabis."
The Bengal Capital Team
Quarantined Americans embrace marijuana, reshaping an industry
"With 9 in 10 Americans approving of either medicinal or recreational [cannabis] use, more than 20 states deeming medical or recreational sales 'essential' businesses during the pandemic shutdown, and Americans using more weed than usual while they're quarantined, advocates say the crisis will push the federal government to follow the lead of 33 states and legalize cannabis faster than it would have." Read more on why consumers are turning to cannabis in the Boston Globe here.
Cannabis education arrives at more American universities
From master growers to extraction scientists, skilled cannabis operators are in high demand, and American universities are ready to supply the necessary training and education. Read more about expanding university cannabis education options in Forbes here.
New Mexico governor says legalizing marijuana would've funded programs cut due to coronavirus
Last week New Mexico Governor Michelle Lujan Grisham voiced that the suspension of capital projects due to the health crisis "likely would not have occurred" if lawmakers had legalized recreational marijuana earlier this year. Read or watch the governor's comments in the Marijuana Moment here.
Mission-focused business models, made popular by "b-corps" such as Warby Parker and Toms, have found a home in the legal cannabis industry. Green Peak Innovations recently announced a collaboration with the Last Prisoner Project to launch a new brand, Two Joints. One percent of proceeds from Two Joints products sold will go towards the Last Prisoner Project and its mission of criminal justice reform advocacy around cannabis crimes. Read more about the Two Joints brand in the Cannabis Business Times here.