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Entrepreneur Jamen Shively on his plans to research and build a retail marijuana business
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Marijuana now legal in two states.
Colorado and Washington.
And at the club of math it did not pass in Oregon and nor again and a in November so this is -- trend and when there is a trend do you have on to -- -- is.
Really going after it which brings me to my next on -- Bernard.
-- side blinked but a former Microsoft executive announced for the past five weeks even -- and on something else tell us about it.
Thank you -- great to be here.
So we have created the first -- premium retail.
Marijuana company we're gonna be opening premium retail marijuana stores.
In Washington in Colorado and other states as it becomes legal.
When it becomes sufficiently legal because.
Heard the federal government lies it's still not legal.
Her state laws it is now this both states are still in the process of working out the rules and regulations so it's gonna be at least a year before were able to open.
-- -- Let's dissect what you just said Casey said a lot -- sad statement premium retail legal marijuana correct.
OK so let's talk about the -- tell -- -- you -- There aren't any legal retail sort.
Well there are.
Marijuana dispensaries but that's for medical marijuana that's an entirely different segment for patients who need it for medical purposes for what just got passed in Washington in Colorado.
Legalize is what's called recreational marijuana -- -- And you're going to be premium select a -- -- -- Exactly cigar yeah I think like a fine brandy fine -- think like that -- about cigar shop but of marijuana and -- -- Well the way we did as we get premium retail locations.
We have a bunch of rules and regulations that we're gonna need to conform -- a lot of quality standards and the states of Washington and Colorado are still working all that out.
So it seems like a headache.
It is it's it's a lot of work but the thing here's the thing.
Currently in people's minds marijuana is positioned.
-- you know across -- -- -- America as though it's a bad thing it's a drug which really fascinating -- and of course I grew up in in the Arab Ronald Reagan Nancy Reagan's just say no to drugs you know this is your brain on drugs inside I never touched the stuff.
Those 42 years old and a colleague at Microsoft a brilliant programmer told me he uses it frequently and I said well isn't it bad for -- if you're afraid you're gonna hurt your brain.
And he said no I did all the research and I'm convinced that within five years it will be regarded as a health that it.
And that completely blew my mind -- and what -- talking about.
Heidi civil look at the research you should be the recently did the research myself found out it is completely non toxic.
Any at any quantity any concentration you're not gonna kill a single cell in your brain or any other part of your body.
And it's not physically -- compare that to alcohol -- nicotine.
Other people would disagree but your perspective is definitely while -- and you are definite -- trying to.
Thank on this.
-- on this possible legalization across the United States you seem pretty confident about that oh absolutely how -- were talking about.
Well -- this -- solicited this -- the current market for illegal marijuana.
Is over 100 billion dollars per year 100 billion up over a hundred feel any -- just in the US hurt illegal marijuana.
Once it's fully legalize across the entire country and it's just a matter of time until it is it'll be well over 200 billion dollars a year.
So this is the very beginning stages of what I referred Q.
As the dot bond air which TJ -- yes.
Tell me more about -- dot -- there.
Well I need to set -- consider 200 billion dollar market and it's a 200 billion dollar market in which we are the first brand.
To go public.
And publicly state -- -- intentions -- going to be opening dozens of premium retail shops across the country.
And we're the only ones out there and announcing that we're gonna do this it's a 200 billion dollar vacuum.
With high profit margins and we're the only company out there.
So it for us it's just in its next an amazing opportunity.
As we're getting all this press coverage there's two companies talking with us that want to.
Creative reality television program about our company and so it's just been an absolute -- do you expect competition however in there.
Me are now -- so I expect competition.
Not in our particular -- because we're gonna dominate the premium marijuana category so think.
If we don't yell my name get -- wouldn't it be taken and premium before okay -- sorry that's okay.
Like I can talk more about that but -- but.
-- so whereas in alcohol you've got you know everything from the very fine line -- all the way down to malt liquor.
We're at the fine line end of the spectrum but for marijuana we expect a lot of competition in what's called the value segments.
A -- of the of the industry but we expected to be head and shoulders above everyone else for premium and and and premium -- just mentioned a couple things about that since you raised it.
What is premium marijuana well depends a number of factors the varieties first of all.
Cultivation techniques -- -- these artisan growers who are extremely passionate about their craft and claim produce amazing product.
Testing quality control.
For ending the Diego -- their brand packaging and then there's the retail experience from the moment the customer walks into the store they're gonna be honored and cared for.
Get all their questions answered they're gonna be educated on safety our target market is baby boomers.
Most of whom most of -- have never tried to product because their lot biding citizens suddenly of credit 3040 years ago maybe they didn't inhale.
Right and now it's safe to -- Tell me about your company actually because.
Clinton Stanley you have your roots in hand business dating olive battle over -- -- absolutely to my great grandfather.
Was Diego -- he was a Spaniard thorn in Spain.
And he -- he went to the Philippines at that time in the mid eighteen hundreds many young men in Spain went off to the far reaches of the globe wherever the Spanish empire reign supreme.
Now the -- the biggest and most important Spanish colony in Asia was the Philippines he became the vice governor of the island of Cebu in the Philippines and over time became the largest grower of -- In the world so I literally have marijuana in my life.
You never knew would come in handy did yeah I did not know.
-- -- just and and quickly taxes yet on all of that so yeah how much are we talking and state taxes even possible federal tell goodness.
In the state of Washington alone which is a lot of the smaller states of the country.
We're looking at two billion dollars over five years in tax revenues that goes straight to the State's coffers for California be well over ten billion over the same period of time -- -- hugely becoming too but that's just the tip of the iceberg.
We're currently in the United States currently over 800000 people.
Are being arrested every year for possession of a nontoxic.
Non addictive naturally occurring plant there's 80000 people behind bars lives are being destroyed.
For no no logical reason whatsoever it's a lot safer than alcohol.
And so that the government's you know gonna save money at all levels that people are gonna be free and it's gonna create over a 100000 jobs I mean it's win win -- all the way around.
While I hope so pretty and came inside Elaine thank you for coming nine.
Website -- -- on the screen very passionate about your case and we appreciate that here.
-- -- great to be here nice to see a Merry Christmas thank you Mary and I think going to break right now --
