Americans spend roughly $25 billion a year on marijuana, according to the Harvard economist Jeffrey Miron, which gives some idea of the popularity of this drug. Eventually, we might be talking about a sizable sum of tax revenue from its sales as medicine, not to mention private investment and employment. A spokesman for the National Organization for the Reform of Marijuana Laws says hedge fund investors and an assortment of financial service firms are starting to call around to sniff out opportunities. “We’re past the days when people call here to ask if marijuana will give men breasts,” says Allen St. Pierre, the executive director of NORML. “Now, the calls are from angel investors, or REITs — people who are looking for ways to invest or offer their services.”

Also, out of nowhere, and as though she maybe has an ax to grind is this lady, slamming business schools for not adequately preparing people to sell pot.

ANYONE who thinks it would be easy to get rich selling marijuana in a state where it’s legal should spend an hour with Ravi Respeto, manager of the Farmacy, an upscale dispensary here that offers Strawberry Haze, Hawaiian Skunk and other strains of Cannabis sativa at up to $16 a gram. She will harsh your mellow.

“No M.B.A. program could have prepared me for this experience,” she says, wearing a cream-colored smock made of hemp. “People have this misconception that you just jump into it and start making money hand over fist, and that is not the case.”

When Capitalism Meets Cannabis [NYT]

172 comments (hidden to protect delicate sensibilities)
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Comments (172)

  1. Posted by Anal_yst | June 28, 2010 at 2:32 PM

    …up to $16/g? Wtf sorta schwag is this broad sellin?

  2. Posted by Bike | June 28, 2010 at 2:35 PM

    That’s still cheaper than what the NYC delivery services charge for Purple Haze or Diesel.

  3. Posted by Pfluger the Barbarian | June 28, 2010 at 2:35 PM

    Years from now, when people look back, they will realize I was a visionary.

    - JC

  4. Posted by Kouwe for Prez | June 28, 2010 at 2:38 PM

    Recently overheard by a male caller to NORML….

    “If it does indeed give me brea$t$, will I at least become T’s on an S?”

  5. Posted by pj | June 28, 2010 at 2:38 PM

    all I needed to do was to smoke up and I’d have breastuses? who knew?

  6. Posted by cap'n common sinse | June 28, 2010 at 2:39 PM

    fyi- it’s not the smoke that gives you moobs; it’s the doritos

  7. Posted by Anonymous | June 28, 2010 at 2:54 PM

    Somewhere in a dark room with “Comfortably Numb” softly playing in the background, Jimmy Cayne smacks his forehead.

  8. Posted by Anonymous | June 28, 2010 at 3:06 PM

    $20-30/g for top of the line bubble hash (80-100 micron filter) 35-45% THC.

    As for buds… buds = rookies. The pros are going to take this party to an all new level.

  9. Posted by sladd | June 28, 2010 at 3:08 PM

    PE will be all over this soon…..

  10. Posted by Anonymous | June 28, 2010 at 3:10 PM

    4 and 20

  11. Posted by Anonymous | June 28, 2010 at 3:20 PM

    Haha @10

  12. Posted by anon | June 28, 2010 at 3:21 PM

    Smokin’
    ATF’s
    Chronic

  13. Posted by anon | June 28, 2010 at 3:26 PM

    Can I buy some A Class shares of pot from you?

  14. Posted by Texashedge | June 28, 2010 at 3:31 PM

    @10, good work

  15. Posted by anonymous | June 28, 2010 at 3:48 PM

    Dope REITs, the old killin’ it

  16. Posted by Anonymous | June 28, 2010 at 4:46 PM

    Years from now, when people look back, they will realize I was a visionary.

    - ZK

  17. Posted by Pfluger the Barbarian | June 28, 2010 at 5:00 PM

    @16: In your fever dreams, you plagarizing plagarist. You sat in a leather chair, in a cublicle. You are no visionary.

  18. Posted by Anonymous | June 28, 2010 at 5:02 PM

    Ravi, learn how to fuckin’ make coffee.

  19. Posted by Bess Levin | June 28, 2010 at 5:03 PM

    @18 you get me.

  20. Posted by Hank Moody | June 28, 2010 at 5:04 PM

    I always prefer hands over fists.

  21. Posted by Anonymous | June 29, 2010 at 2:21 AM

    re: @10 and subsequent sycophants: are you guys seriously making 4:20 jokes and then high-fiving about it? srsly?

  22. Posted by JokeMangler | June 29, 2010 at 3:13 AM

    Legalized pot might employ tens of thousands of people – but the U.S. workforce productivity will drop like a stone…r.

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    Hmmm, let’s see now, a fund to grow a hedge of Marijuana? I guess we can bring back the old cigarette brand as a mix of pot and tobacco and call it Benson & ‘Hedges’

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