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Continue reading “The States Where It’s Legal To Smoke Marijuana”
The States Where It’s Legal To Smoke Marijuana
Tag: legal marijuana
HAIRIER & HAPPIER
Doug Casey on the “Green Gold” Rush
Justin’s note: As Dispatch readers know, marijuana legalization is starting to sweep the globe. And it’s providing everyday investors with the investment opportunity of a lifetime.
Recently, Doug Casey and International Man editor Nick Giambruno sat down to discuss how marijuana legalization would benefit not only investors… but society as a whole.
Nick Giambruno: Doug, I think cannabis will become a mainstream big business over the next few years. Legitimate companies are already working to commercialize this useful plant in various ways. What’s your take?
Doug Casey: I completely agree. Pot has been proven to have huge medical applications. I think there’s going to be a big recreational market too, at least the size of that for alcohol. And industrial applications for hemp, as a substitute for cotton in fabrics and wood pulp in paper, are gigantic. In fact, these applications will eventually dwarf other uses for hemp.
Who Buys Legal Weed?
We’re in legal weed country. We passed dozens of dispensaries on our trip from Denver to Loveland. Allowing dispensaries is up to each local community. As soon as the locality realizes the tax revenue from the dispensaries can pay for all the new shit they want to do, they allow them. This will gradually spread across the entire US as states, municipalities, and localities are bankrupt.
Marijuana pop culture has traditionally centered around the young male smoker and his high times. But the legalization movement has made marijuana more accessible than ever been before, and cannabis’s application as a painkiller is particularly appealing to senior citizens.
So what does the typical, recreational marijuana user look like today? And how do the preferences and spending habits of groups like young men and senior citizens differ?
We explored these questions by drawing on the data of Headset, a Priceonomics customer with a large dataset of cannabis retailer transaction data. Since many of these cannabis dispensaries have customer loyalty programs, the data includes information about customers’ age and gender. We decided to use to this data to learn more about who buys weed and what they smoke or consume.
The data suggests that smokers in the customer loyalty program are overwhelmingly male, accounting for about 70% of all members. And, while customers range from ages 21 to 95, over 50% of loyalty members are under 40.
We also found that while Flower (your typical marijuana bud) accounts for about half of the purchases made by each demographic, each group has its own quirks. Compared to the opposite sex, men prefer concentrates and women prefer pre-rolls and edibles. Older consumers prefer edibles to pre-rolled joints.
I_S VISITS A LEGAL MARIJUANA SHOP
After going out to breakfast this morning I walked down the street to check out my first legal weed shop in person. I was curious to find out if the prices for weed on priceofweed.com in states where it had been legalized were based on legal purchases or black market because their website does not say. I walked there mostly because I don’t want my license plate recorded (if that kind of thing is going on) but it is colder than a well diggers ass out there at 7 degrees above zero!
The place was clean and neat with no hint of marijuana aroma at all. Called Smokane, it looked a bit like a white sterile hospital room with jewelry display cases. There was a chalk board menu of their products on the wall which isn’t really helpful unless you are familiar with the hundreds of different strains that exist. They break things down by type which falls into sativa (head high) and indica (body high) and hybrids which supposedly offer aspects of both.