(Time Magazine) The Business of Pot in America

Beer has its Budweiser. Cigarettes have Marlboro. And now, from Nevada to Massachusetts, pioneers in the legal-marijuana industry are vying to create big-name brands for pot.

When the legalization movement began years ago, its grassroots activists envisioned a nation where mom-and-pop dispensaries would freely sell small amounts of bud to cancer patients and cannabis-loving members of their community. But the markets rolling out now are attracting something different: ambitious, well-financed entrepreneurs who want to maximize profits and satisfy their investors. To do that, they’ll have to grow the pot business by attracting new smokers or getting current users to buy more.

To hear these pot-preneurs talk is to get a better sense of how the legalized future could unfold and just how mainstream they believe their product can become. Says Joe Hodas, chief marketing officer at Dixie Elixirs & Edibles, a Denver maker of pot food products: “I want to get that soccer mom who, instead of polishing off a glass of wine on a Saturday night, goes for a 5-mg [marijuana] mint with less of a hangover, less optics to the kids and the same amount of relaxation.”

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