FIRST AIRED: December 6, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>> There's this incredible moment where all around the world, the cannabis revolution will happen within the next ten years.>> From high-end chocolates to designer pipes, the cannabis revolution is upon us. And what was once a shady underground market is now a lucrative business opportunity attracting big names.
00:00:17
And money. Reuters' Angela Moon.>> Throughout my reporting what I found was that the cannabis industry is attracting top talent from Silicon Valley to Wall Street. So we're seeing executives who worked at Google, Apple, BlackRock all moving to the space that still sort of considered taboo. And there is that stigma, but we've been seeing double digit growths in the past couple of years.
00:00:41
And people are not, they don't wanna miss on the opportunity.>> People like Allen Gertner. Two year's ago he was the head of Google's Asia Pacific sales team in Singapore, handling over $100 million in business. Today he begins his day in a small Toronto office, building a brand that sells smoking accessories and clothes.
00:00:59
>> This will likely be the only time in my life that I see such a large scale market move from the black market into the legal market.>> So far, he has raised $10 million in capital in ten months. Eric LaScalo left his marketing gig at Apple to found a line of artisanal cannibas infused chocolates, costing $20 a bar.
00:01:20
He says the Bay Area spirit of innovation led him to try to get pot a much needed makeover.>> As far as like how we all kind of look at things, we look at problems and look at solutions and it doesn't really matter whether it's cannabis, or dating, or trying to solve issues with energy.
00:01:37
It's a matter of just solving problems and finding innovative and creative ways of solving them. As more states relax legalization laws, the weed industry is unsurprisingly seeing extraordinary growth.>> The cannabis industry is currently at 8 billion, the forecast is that is gonna reach about 23 billion by year 2021.
00:01:56
That is bigger than the size of the NFL.>> Still, the threat of federal enforcement makes it difficult for these companies to get banking services, though this handicap could oddly enough be to their benefit.>> It doesn't allow a lot of the big players like let's say Nestle, Kraft, or Diagio to be able to enter into the market, so as they were in now, there is a lot of runway to make some really cool products.
00:02:21
>> There are lots of hurdles to growth in the cannabis space. And that we ultimately believe that cannabis as a consumer product will be driven by brands, by experience, like all other consumer products in human history.