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Big-name Tech Investors Pour Millions into Marijuana

Wealthy investors are pouring millions into the cannabis industry in a bid to capitalize on the gold rush that’s expected when California legalizes recreational marijuana on January 1, 2018. They’re backing development of new medicinal products, such as “budtender” apps like PotBot, which promises to scour 750 strains of cannabis to help customers find the perfect match.

Pot has been legal for medical use here since 1996, but with broader legalization, the industry is poised to explode. Experts say the market for marijuana and related products in California will reach $6.5 billion in 2020, and likely spark legalization efforts elsewhere. Troy Dayton, CEO of The Arcview Group, an Oakland-based cannabis investment and research firm, stated that “California is the sixth largest economy in the world. Colorado and Washington are pilot studies by comparison.” The federal Drug Enforcement Agency continues to classify marijuana – like heroin and LSD – as a Schedule I drug, defined as highly prone to abuse and having “no accepted medical use.”

Given that most states have already legalized cannabis for medical use, and seven states plus the District of Columbia allow recreational use, most investors think that federal officials eventually will relent and regulate marijuana more like alcohol. For now, most publicly traded companies have shied away from the industry. Most large venture firms, which receive money from public companies and pension funds, also have steered clear due to both risk and morality clauses in their investor agreements.

If you need help in defending a drug related prosecution, call Frank T. Luciano. He has over 40 years of experience and is a lifetime member of the legal committee for the National Reformation of Marijuana Laws.

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"Mr. Luciano freed my mind of anxiety right from the start. A consummate professional. He explained all options on defense and guided me to the one I followed with excellent results. Best of all, he is reasonable. Relax and let his knowledge (the magic) work."


From a former client

"First thing I want to tell is that I thank God for giving me the opportunity to meet such a wonderful person like you and without question, the best lawyer in this world. I am very grateful for everything you did for me. I want to let you know that I'm doing good and if you ever think of coming to . . . for vacation don't forget to contact me. Thanks again Mr. Luciano and please say hello to that kind lady that answers the phone with pleasure every time I called."


From a former client with a First Degree Distribution Charge

"In my distraction focusing on my . . . trial, I failed to ask you how things went with . . . I watched and learned from you throughout that case and greatly admire the consummsate attorney that I hoped to emulate. I witnessed how very hard you worked and how you left no stone unturned. I hope the case worked out for you and your clients. If it did not (and I hope it did) it was not for lack of the effect on your part which was humbling."


From an adversary in a case where we ultimately returned a verdict of $2,069,000

"My family and I would like to thank you for all of your hard work on my case. I feel like I can live my life normally again and it feels awesome. You are truly a professional and wonderful attorney."


From a former client charged with a serious weapons offense

"At the time, I was mortified because, having only worked against you in the Prosecutor’s Office, I couldn’t picture being on the same side. Frank, I want to thank you for the pleasure of having worked with you over the past years. I have learned a great deal from you. Most importantly, I learned that cases were not always as black and white as I thought they were when I worked for the Prosecutor’s Office. You are a wonderful attorney who not only works hard, but also cares deeply about his clients. Frank, I think you are the best."


From a former investigator of a county prosecutor’s office and retired private investigator

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