It’s quite obvious that the newly emerging cannabis industry in the US has enormous potential. It’s currently valuated at $7.2 billion, and projections for 2020 predict a valuation of about $20.5 billion. That’s a lot of money, and it has opened almost 300,000 new jobs along the way. These are the kinds of stats that have many people pay more attention, and among them are the nerds of the tech industry. Various tech and business publications, such as PC Magazine, Wired, and Forbes have featured the new industry and have given a glowing analysis regarding the prospects for huge profits.
THE NEW WEST SUMMIT 2.0
The New West Summit 2.0 was a unique gathering. It was promoted as “the first conference to focus exclusively on the game-changing, disruptive developments in technology, investment and media within the cannabis space.” Harborside Health Center founder and CEO Steve DeAngelo considered it a milestone event in the history of marijuana, because this particular plant has been banned and hidden since the advent of technology. Now it is switching from black market illegal transactions to a fresh framework of transparency and fierce
competition among other legal markets. This time, the growers are now accompanied in their entrepreneurial journeys by nerds. These IT geeks and tech companies are enthusiastically providing high-tech solutions for the new industry for every stage of the seed to sale process. They’re offering equipment that can monitor cultivation conditions, to solutions that provide analysis of point-of-sale data. They’re also providing technologies and apps that can enhance ways of cultivating, extracting, and even consuming marijuana.
In October of 2016, the New West Summit 2.0 in San Francisco had Richard Branson as the keynote speaker for the conference. In front of more than 1,000 participants, Branson declared that marijuana “has enormous potential, with the ability to do a lot of good.