The North Bay Business Journal ran an in-depth article recently on the flood on interest in the legal cannabis industry, quoting Poseidon executives extensively throughout.
The article begins by setting the stage on why legal marijuana could be huge California, particularly.
“California is the heart of all the industry activity, with massive potential from an economic standpoint, greater than Colorado and Washington combined,” said Emily Paxhia, co-founder of Poseidon Asset Management... Along with her brother, Morgan, Paxhia moved to San Francisco from the East Coast after their parents died of cancer. Their interest in cannabis is a result of seeing what it could have done to help them. Paxhia was the keynote speaker at a cannabis networking event at SoCo Nexus in Rohnert Park…”
The article goes on to describe some of the investing strategy and patterns Poseidon is known for.
“'Poseidon invests in the ancillary elements of cannabis, seldom in growers, in everything from early startups to expansion capital for companies.' The interest in this type of investment is so strong, Paxhia said, by the number of emails she gets 'It’s like directing a firehose on your face and trying to breathe.'”
Refreshingly, the article's author also notes how innovations within the cannabis industry are positively affecting parties outside it.
“People involved in the cannabis industry are coming up with innovations that are influencing other industries. From an environmental standpoint, new setups are almost carbon neutral,” Paxhia said. “People in cannabis are progressive and don’t rest on existing structure. Change is the status quo. They love challenge and love to solve problems.”
Lastly, the article looks forward to what might happen in the future, when adult use cannabis is legalized in the state.
“If cannabis becomes legal, everything will start to change. New segments of people will discover what it means in terms of treating ailments like anxiety and well-being instead of using alcohol,” Paxhia said.
Read the full article here.