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Capital is flooding into the U.S. marijuana industry.
In 2019, more than $7 billion has been invested in both public and private companies. That's nearly twice the amount at this time last year.
More impressively, U.S. cannabis companies have managed to raise this tidy sum at a significant disadvantage, with their hands essentially tied behind their backs.
Just imagine what they might do on a playing field level with other companies in, say, semiconductors or financials…
Faced with that prospect, estimates and projections like "the U.S. marijuana market could be worth $77 billion by 2022" start to look almost ridiculously conservative.