Last week, TheĀ New York TimesĀ ran an editorial piece with the headline, āDo We Really Want a Microsoft of Marijuana?ā
The author of the report,Ā Christopher Caldwell, opines that theĀ SAFE Banking ActĀ would disproportionately help giant operators at the expense of smaller companies. That, in turn, would usher in a dystopian future in which multinational businesses develop new flavors and products to turn Americaās children into a nation of potheads.
I read a lot of wrongheaded news and misinformation pieces about cannabis, but this one may be the winner in terms of getting things wrong.
The first is the overall theme. We absolutely want a Microsoft of marijuana!
We want one as investors, as consumers, and as supporters of the industry. Microsoft Corp. (NASDAQ: MSFT) has its flaws, but overall, a lot of people have benefited from the success of the tech company. We can partially thank Microsoft for reliable computer operating systems, sophisticated spreadsheets, and cheap cloud computing that allows us to share our ideas in real time all over the world.
Do we want a company with the resources to improve the accuracy and speed of cannabis testing, one that can grow more precise strains for medical patients, and one that can perfect security and seed-to-sale tracking?
I want those things. So do you.
And he doesnāt know it yet, but so does Mr. Caldwell. Hereās whyā¦
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the āBlack Mondayā stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies.Ā Heās always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.
Sorry to read your comments about Microsoft – OS full of bugs,nothing invented by Microsoft – not the spreadsheet,not the mouse
Stick with cannabis , dont talk about Microsoft
Greg, I hope you write a retort and submit it to the NYT. Another thing that doesnāt help is ill conceived opinions going unchallenged by those who know their facts.
Dear Greg , I just want to thank you for your article on cannabis.