Entrepreneurs looking to cash in on California’s new marijuana gold rush flocked to Los Angeles this week for the city’s Fourth Annual Cannabis World Congress & Business Exposition – taking in advice and pitches from venture capitalists to a marijuana ‘sommelier’.
Workshops were conducted – business cards were swapped with more than 200 bustling booths – exhibiting everything from pot paper to shampoo and even suppositories – at the LA Convention Centre.
It was a spirited free-for-all that anticipated one thing: 1 January 2018 – a date that puts dollar signs in many a Californian’s eyes.
For it is then that the state will fully legalise recreational marijuana use – thanks to Proposition 64 – the adult use of marijuana act – which was passed last year.
Explosive growth is then projected for the industry and the state; growth which may represent a boon to the tune of $7bn (£5bn) as well as the creation of hundreds of thousands of jobs.