Entrepreneurs Eye Marijuana Market

Jamen Shively, a former Microsoft executive, wants to create the Starbucks of marijuana.

From CNET News:

His idea, as he explained to the Seattle Times, is to buy his own dispensaries in pot-friendly states such as Washington and Colorado and begin his long march toward a branded fortune.

His company is to be called Diego Pellicer–this a homage to Shively’s great-grandfather, who was once governor of Cebu in the Philippines.

His plan is to import from Mexico. Indeed, former president of the country Vicente Fox appeared with Shively at a Seattle news conference Thursday (video at the link).

Fox said at the news conference: “What a difference it makes to have Jamen here sitting at my side instead of Chapo Guzman.” Guzman is one of Mexico’s most notorious drug lords.

There is a problem: until the federal criminal law on marijuana is repealed, the climate is especially risky for investors in such an enterprise.

For Cato work related to the drug war, go here.