It’s the gold rush. We all know that. Big money isn’t scared to get involved in the industry anymore. Many enterprises are preparing for the upcoming boom in this market. One of the most prominent of this new breed of marijuana entrepreneurs is Dereke Peterson.
As an experienced investor and former figure from the banking sector, Derek decided to try his luck in the newly formed weed industry. His latest enterprise is Terra Tech – a company focusing on various cultivation licenses. Appointed as a CEO in this brand new project, Mr. Peterson may lead Terra Tech to prosperity making it one of the most recognizable brands in marijuana production. But here are some great insights from one of the world’s most distinguished weed entrepreneurs.
Peterson’s Relation to Cannabis
Before making the decision of entering the marijuana industry, Derek worked on Wall Street. He foresaw the transitions in the market and created Blum dispensary in Oakland with a partner of his, which now offers services to nearly 700 patients every single day. Known as a weed activist and dedicated supporter, Mr. Peterson is also a recreational marijuana user that looks forward to help in the development of capable and trustworthy cannabis industry.
According to Derek, the local fight over the marijuana niche is on different level then most products. With the federal restrictions still in play, it is quite hard for largely scaled businesses to conquer the industry easily. The small local companies are still in power and a unique marketing campaign is required for each and every state. As long as the federal laws influence the weed consumption and trade, small enterprises have the advantage.
“I’d say 3 to 5 years, to be safe,” Derek Peterson told High Times last year. The prediction sounds encouraging, however, he can’t miss some of the failures on the path to cannabis legalization, such as the California vote in 2010. Anyway, he is positive on the ongoing movement and points out some distinguished events from the past few years. Colorado’s win allowed many people to see the attractive possibilities of investment in weed. The medical marijuana program in Nevada and Florida’s most recent high-CBD bill are also great signs of change in the right direction.
Worldwide Predictions for Marijuana
Derek Peterson expects pot to be legalized and decriminalized in many countries in the next 15 years. If America moves forward and pushes weed legalization, he thinks Europe follow the momentum. However, on a national level the federal government is the one to make the most needed efforts in the right direction. The current cannabis policies may shift significantly as the politics are changing and tune to the opinion of the society.