Peter J. Burns III: "The Sky Is Falling, the Sky Is Falling!"


In light of the latest knee-jerk reaction to Attorney General Session's reversal of the Obama-supported Cole Amendment to Cannabis legislation...the above cry attributed to Chicken Little of fairytale fame is what I keep hearing from the "sheep" following the meteoric rise of the "legal" Cannabis industry.

Here is my "take" on the current situation. The Cannabis industry has always been illegal in the eyes of the Federal Government. Certain States have chosen to ignore that...for decades in some cases like California with Medical Marijuana. Now, California has "legalized" and will "license" 11,500 new recreational Cannabis growers and dispensaries. It's worth $1 billion in new tax revenue to the State, which is perennially broke btw. There is NO WAY that California and all of the other States following the lead of Colorado and California are going to roll over and let one antiquated and completely out-of-touch legal beagle derail the "Cannabis Revolution." It simply isn't happening.

Certainly, the Feds can flex their muscles and even make some high-profile examples of "enforcement" of marijuana laws on the books...but it will be fleeting and ill-advised at best. There is simply too much money at stake, people. Billions and billions of dollars in potential tax revenue to both the States and the Feds are the leverage points here. I have been in many industries over the past 4 decades and have been threatened from the beginning of being shut down by bs legislation. My first entrepreneurial venture on Nantucket at the tender age of 19 was threatened with an illegal ruling by the completely dishonest Board Selectman of that Island when I threatened the Mayor's (Head Selectman) lucrative family-owned bicycle rental business with my new moped rental enterprise. They got my "Irish up," I fought back legally and prevailed, kicking their collective butts and securing my first entrepreneurial fortune.

Here's the deal out there... you so-called "Cannabis Entrepreneurs," stick to your guns, bond together, play by the States' rules for being "legally in compliance" and go make a lot of money. Make so much of it that you have a nice nest egg to pay lawyers if you must and rebuild what may be taken away by the Feds...and then sue the hell out of anybody that tried to keep you from earning your living.

My advice to you all you wannabe "ganjapreneurs" crying " in your beer...hit back, move forward, be flexible and NEVER, EVER GIVE UP!

Posted on January 26, 2018 .