Imagine if Jeff Bezos had been forced to shove Amazon's profits in shoeboxes or under his mattress. Think Amazon.com would be worth nearly $1,750 a share today? Of course not.
If that sounds ridiculous, it isn't. Cannabis firms face this problem, even in states where weed is completely legal.
Yes, the cannabis business has a banking problem.
Thanks to its illegality at the federal level, most banks simply won't deal with companies that "touch the plant" – even if marijuana is fully legal in their state.
But something truly extraordinary, even unprecedented, could be about to unfold in – you guessed it – California.
You see, if California Sen. Robert Hertzberg and the supporters of his 2018 bill get their way, the Golden State will create its own special banks to handle the business of cannabis firms.
This is a huge development, and if it passes, it could mean entirely new ways to invest in the high-profit weed sector.
Let me explain…
About the Author
Michael A. Robinson is a 36-year Silicon Valley veteran and one of the top technology financial analysts working today. That's because, as a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs, scientists, and high-profile players. And he brings this entire world of Silicon Valley "insiders" right to you...
- He was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon.
- He was there as Lee Iacocca and Roger Smith, the CEOs of Chrysler and GM, led the robotics revolution that saved the U.S. automotive industry.
- As cyber-security was becoming a focus of national security, Michael was with Dave DeWalt, the CEO of McAfee, right before Intel acquired his company for $7.8 billion.
This all means the entire world is constantly seeking Michael's insight.
In addition to being a regular guest and panelist on CNBC and Fox Business, he is also a Pulitzer Prize-nominated writer and reporter. His first book Overdrawn: The Bailout of American Savings warned people about the coming financial collapse - years before the word "bailout" became a household word.
Silicon Valley defense publications vie for his analysis. He's worked for Defense Media Network and Signal Magazine, as well as The New York Times, American Enterprise, and The Wall Street Journal.
Michael is 100% independent and receives absolutely no compensation from companies he writes about. His ideas are completely his own.
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