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Saturday, 1 June 2013 00:00 - - {{hitsCtrl.values.hits}}
Reuters: A former Microsoft executive plans to create the first U.S. national marijuana brand, with cannabis he hopes to eventually import legally from Mexico, and said he was kicking off his business by acquiring medical pot dispensaries in three U.S. states.
Jamen Shively, a former Microsoft corporate strategy manager, said he envisions his Seattle-based enterprise becoming the leader in both recreational and medical cannabis - much like Starbucks is the dominant name in coffee, he said.
Shively, 45, whose six years at Microsoft ended in 2009, said he was soliciting investors for $10 million in start-up money.
The use, sale and possession of marijuana remains illegal in the United States under federal law. Two U.S. states have, however, legalized recreational marijuana use and are among 18 states that allow it for medical use.
“It’s a giant market in search of a brand,” Shively said of the marijuana industry. “We would be happy if we get 40 percent of it worldwide.”
A 2005 United Nations report estimated the global marijuana trade to be valued at $142 billion. here Washington state and Colorado became the first two U.S. states to legalize recreational marijuana when voters approved legalization in November.
Shively laid out his plans, along with his vision for a future in which marijuana will be imported from Mexico, at a Thursday news conference in downtown Seattle.
Joining him was former Mexican President Vicente Fox, a longtime Shively acquaintance who has been an advocate of decriminalizing marijuana. Fox said he was there to show his support for Shively’s company but has no financial stake in it.
“What a difference it makes to have Jamen here sitting at my side instead of Chapo Guzman,” said Fox, referring to the fact he would rather see Shively selling marijuana legally than the Mexican drug kingpin selling it illegally. “This is the story that has begun to be written here.”
Shively told Reuters he hoped Fox would serve an advisory role in his enterprise, dubbed Diego Pellicer after Shively’s hemp-producing great grandfather.
The sale of cannabis or marijuana remains illegal in much of the world although countries mainly in Europe and the Americas have decriminalized the possession of small quantities of it. A larger number of countries have decriminalized or legalized cannabis for medical use.
