Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Business News

The marijuana industry is seeing big innovation (update)

(BUSINESS NEWS) The marijuana industry is graduating from its street-dwelling roots. Saavy entrepreneurs are findings ways to revamp distribution, production and marketing of the drug, and investors are taking notice.

marijuana cannabusiness caucus

Innovation gets lit

The marijuana industry is graduating from its street-dwelling roots. Saavy entrepreneurs are findings ways to revamp distribution, production and marketing of the drug, and investors are taking notice.

bar

The Amazon of weed?

Forgive me if the “We are the Amazon/Facebook/Uber of X” line is old, but in this case, it’s warranted. Traditional marijuana distribution involves lots of middlemen. That’s a big overhead cost, and it’s slow, two traits you don’t want in a fast-growing industry. With the arrival of legal retailers in states like Colorado, consumers can access more of the drug with ease. Sounds like the perfect breeding ground for an online retail disruption, no?

Enter Tradiv, an online wholesale marketplace where licensed marijuana businesses can buy and sell product.

Backed by over 3 million dollars in venture capital, the site showcases the wares of over 200 growers; to date, it has facilitated tens of millions of dollars in weed deals.

Dealers love it because it shortens an extensive network of pot brokers who have dealt the product since the 1930s. Consumers get access to more product. Tradiv takes a transactional cut. Everyone wins.

Advertisement. Scroll to continue reading.

Rise of the modern pipes

If you’re unfamiliar with traditional marijuana smoking pipes, they can look a bit weird. Vaporizer technology has improved the experience of smokeable commodities. Firefly, a portable vaporizer brought into the world by former Silicon Valley product and software developers, take the technology to the next level, improving the vaporizing experience and making the product look smaller and sleeker. It easily fits in a pocket, has the sleek lines of a sports car, and offers a better smoking experience through a smarter vaporizing process.

Bio-pharma bonanza

The former CTO of Zynga, Tom Bollich, now heads up Surna, a startup inventing a climate-control system that better mimics ideal growing condition with less energy. Bollich told Wired that he see this industry as “the next gold rush”.

The Stanley Brothers’ grow house used advanced cross-breeding to create a strain of THC without intoxicating effects. The plant oil appears to help reduce chronic seizures, and the grow house has hired a full-time chemist to figure out why it works the way it does.

As legalization happens across the country, marijuana’s value potential expands dramatically. Entrepreneurs are not only pushing the boundaries of that potential, but they are also working on expanding the supply of the drug to meet the new demand. If you aren’t taking the new weed industry seriously, you should be.

#MarijuanaIndustry

Advertisement. Scroll to continue reading.
Written By

Born in Boston and raised in California, Connor arrived in Texas for college and was (lovingly) ensnared by southern hospitality and copious helpings of queso. As an SEO professional, he lives and breathes online marketing and its impact on businesses. His loves include disc-related sports, a pint of a top-notch craft beer, historical non-fiction novels, and Austin's live music scene.

4 Comments

4 Comments

  1. Alan Brochstein

    June 29, 2016 at 4:49 pm

    Bollich has been gone from Surna for over a year…

  2. Pingback: Mastering Your Business with Facebook - I Love Ebooks Forever

  3. Pingback: States legalizing pot but federal laws restrict canabusiness' bank access - The American Genius

  4. Pingback: Recreational marijuana approved in three states, read this before dreaming of opening up shop - The American Genius

Leave a Reply

Your email address will not be published.

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Business Finance

(FINANCE) The tax profits from weed sales in these states just may be enough to push politicians toward legalizing the drug cross-country.

Business News

(BUSINESS NEWS) Dutchie, a website platform for cannabis companies, just octupled in value. Here's what that means for the online growth of cannabis distribution.

Business News

(BUSINESS NEWS) Larry Scheffler, the co-founder and co-CEO of Planet-13, shares his experience as his baby turns 2 years old.

Business News

(BUSINESS NEWS) Las Vegas’s largest dispensary is getting a big, expensive makeover, thriving while other brick-and-mortar shops are struggling.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.