5 ‘SHARK TANK’ STARS GIVE ADVICE ON INVESTING IN THE POT INDUSTRY

After seven seasons of listening to entrepreneurial ideas—some strokes of genius, others disasters—there’s one pitch that the “Shark Tank” investors have yet to hear: a marijuana business.To celebrate the show’s season eight premiere, Entrepreneur‘s West Coast editor Kim Lachance Shandrow sat down with Kevin O’Leary, Barbara Corcoran, Robert Herjavec, Mark Cuban and Lori Greiner to pick their brains about the cannabis industry.Here’s what those investment “Sharks” had to say:

Kevin O’Leary
Net Worth: $300 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“I would love to invest in the marijuana industry. I’ve looked at four different deals, but my lawyers tell me I can’t because we need a better mandate. There’s a RICO statute in the way. I’ll land my plane in Florida and I’ll get arrested because I invested in something in Colorado. I can’t do it.

“I have to hold off for now. I can’t take that risk. I can’t go to jail for being a cannabis investor. My advice to entrepreneurs in this space right now is to stay in the state in which you have your mandate and figure out a way to redeploy your cash because you can’t put it in a bank.

“This is like the end of prohibition. It’s going to be a remarkable opportunity. The cashflow in Colorado is three times what they thought it was going to be. They did the right thing by legalizing it and it’s now a huge cash crop. People should not be going to jail for marijuana. This is substance that’s been used by humans for thousands of years. It’s stupid what we’ve done to it, and I think it has to be federally legal.

“California will switch soon. Once that happens, I think the floodgates will open and I will be one of the first investors when it gets a federal mandate.”

Barbara Corcoran
Net Worth: $40 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“I would like Daisy Cakes, one of my best investments from Shark Tank, to make marijuana cakes. Their home-cooked cakes from the south and my girl there is making tons of Daisy Cakes, doing great already. I love her, but I want her to make a marijuana cake, but she won’t do it. I advised her to, but she says it would ruin her brand. She’s mistaken.

“My advice to entrepreneurs looking to enter the marijuana business is to be early in their market, because this is a market that’s expanding like crazy. I was in Aspen, Colo., last winter and there were four salons where I could buy marijuana. Now I don’t smoke it, so I didn’t. But these salons where you can get it are more luxurious than the night clubs out there.

“Pot’s a big business. People know what the profits are going to be, so I think hitting it fast and early is the number-one prize.

“What’s going to destigmatize marijuana is having the old people die off. Anyone who’s under 30 believes in it.”

Robert Herjavec
Net Worth: $100 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“I have no problem with it. I think anything to legitimize any kind of substance that used to be illegal is great because I think you always want to take the criminal element out of it, and I like things that are regulated.

“In terms of a business trend, I think it’s already too late to invest. Like any trend, if we’re talking about it, it’s already happened. It’s the old Wayne Gretzky quote, ‘Don’t go where the puck is. Go where the puck’s about to be.’

“I would invest, but I don’t know anything about it. It’s just not an area that I understand. I like to invest in things where I understand the tipping points and what’s going on.”

Mark Cuban
Net Worth: $3.3 billion

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“Would I invest in the cannabis industry? No. Not because I have anything against pot. I don’t care. But right now it’s a gold rush. When everybody’s rushing in it’s hard to keep track of what everybody’s doing because there’s a new startup every single day. I think the oversaturation of the market creates a very difficult challenge. Plus, Snoop’s in it [laughs]. And if Snoop Dogg’s in it, it’s over for everyone else.

“I always look at investing in businesses where I have a competitive advantage, and smoking it is not a competitive advantage, then it’s not something that I’d get into.

“There’s a saying that I live by: ‘First there are the innovators. Then there are the imitators. Then there are the idiots.’ The three I’s. You have to know which one you are, and I think already in the cannabis industry, we’ve at least gotten to the imitators and we may already be to the idiots.

“Plus, there are so many complicated issues in the industry, like dealing with banks and all of the regulatory red tape. It’s not going to get simpler, so I’d rather invest elsewhere.”

Lori Greiner
Net Worth: $50 million

Photo Courtesy of ABC's Shark Tank

PHOTO COURTESY OF ABC’S SHARK TANK

“What’s crazy is, everything changes with the times. I think, look, if it’s medical marijuana and it helps people, I don’t think it’s a bad thing. I think whatever helps people to feel better, especially if you’re not feeling well for a medical reason, it’s OK. I mean, a lot of people are making a lot of money with it, and I’m not one to judge.

“Everybody should be able to do it legally. Would I invest in it, though? I don’t know. I have so many investments as it is, I don’t need another one. I’ll let other people deal with that, because it’s not that easy of a space to navigate.”

VPOR Shares Are On Fire With New Easy Grinder ™

NewGen Concepts, Inc., formerly Vapor Group, Inc., VPOR, Reports First Production Run of 20,000 Units of Easy Grinder ™ Is Sold Out   Editors Note: VPOR shares have been on fire albeit at a very low price level, but in our opinion this could be a monumental opportunity if the company can continue to execute on their business plans. Shares are still High Risk, but High Opportunity. In full disclosure, we are owners of VPOR at lower prices.   NewGen Concepts, Inc., formerly Vapor Group, Inc. (OTC Pink: VPOR), (“Company”), reports that its initial production run of Easy Grinder™ scheduled to produce 20,000 units which will produce over $1,000,000 in gross revenue is sold out due to exceedingly strong retail and re-seller pre-orders and reservations. Online demand isincreasing daily and wholesale distribution requests are now arriving from re-sellers in Europe. The Company believes that such international demand for Easy Grinder™ is … Continue reading

The Future of Cannabis Investing

Source: Tom Beck for Streetwise Reports  (2/3/17) The cannabis industry attained new highs in 2016, paving the way for some big changes this year, says Tom Beck, senior editor of Portfolio Wealth Global. New Frontier Data Four states in the U.S. voted in favor of legalization on November 8th of 2016, and it was expected that the cannabis market would rake in over $6.7 billion from the U.S. alone in 2016. It only gets better from here. For starters, sales of cannabis are set to rise to $22.8 billion in the U.S. by 2020. The graph above captures the rollicking growth rate of the market. Portfolio Wealth Global sees this as a dam bursting, but the magnitude of the moment is understated—that’s because even top hedge fund managers still don’t have a handle on whom the top dogs are, and that’s exactly the opportunity we see in building strong relationships with … Continue reading

The Cannabis Market That Could Grow 700% By 2020

Debra Borchardt , CONTRIBUTOR I write about retail and cannabis. Opinions expressed by Forbes Contributors are their own. Cannabidiol (CBD) is the part of the cannabis plant that doesn’t get you “high” like the THC side of the plant. It is typically used for health reasons instead of for recreational purposes. The CBD products are either derived from industrial hemp plants or marijuana plants. The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That’s a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year. Matt Karnes of Greenwave Advisors is even more optimistic about the … Continue reading

Bernie Sanders Supports Cannabis Legalization Initiative in California

        May 27, 2016 The United States’ most left sided candidate in the presidential race recently supported the cannabis legalization act in California, also known as the Adult Use of Marijuana Act; bringing success to the “Let’s Get It Right, California” campaign. “You’ve got a pretty good ballot initiative coming up in November,” Sanders said to people in California when talking about cannabis policy a few weeks ago. Sanders put down the fact that young people have criminal records for marijuana while those working on Wall Street were never put away after ruining the economy. Recently, Sanders only reiterated that, but louder. “I do not live in California,” the Vermont senator said at a rally. “But if I lived in California, I would vote ‘yes’ to legalize marijuana.” Out of all the presidential candidates, Bernie Sanders is the largest supported of marijuana law reform. He claims that … Continue reading

2016 Will Be Marijuana’s Big Year

December 28, 2015 Debra Borchardt , CONTRIBUTOR     2015 was a pretty amazing year for the progress in the legalization of marijuana. Four states and the District of Columbia legalized recreational marijuana, many states decriminalized it and several more states approved of medical marijuana. But for all the advances made in 2015, the year was seen as a run up to 2016, where the presidential election is expected to ramp up the legalization landscape. In Congress, there are expectations for a Senate Judiciary Committee hearing on the CARERS Act (S. 683 or H.R. 1538). This bill, sponsored by Cory Booker, Kirsten Gillibrand, Dean Heller and presidential candidate Rand Paul is a comprehensive medical marijuana piece of legislation. It would allow states to legalize medical marijuana without federal interference and reschedule marijuana to a schedule II drug. It would eliminate barriers to research and allow banks to work with marijuana … Continue reading

Congress Just Ended The Ban On Medical Marijuana

December 26, 2015 Robert Celt The federal ban on medical marijuana is finally a thing of the past. Slipped inside a major budgetary spending bill that was purported to prevent the government from shutting down, is an interesting earmarked section that finally lifts the federal ban on medical marijuana. The relevant excerpt of bill H.R. 83 text reads as follows: “Sec. 538. None of the funds made available in this Act to the Department of Justice may be used, with respect to the States of Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, Oregon, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Washington, and Wisconsin, to prevent such States from implementing their own State laws that authorize the use, distribution, possession, or cultivation of medical marijuana. Sec. 539. None … Continue reading

UN to call on governments around the world to decriminalise all drugs, says Richard Branson

October 19, 2015 Adam Withall Branson’s intervention appears to be designed to prevent the UN from changing its mind AFP The UN may be about to call on the governments of all countries to end the “war on drugs” and decriminilise the use and possession of all illegal substances. In an extraordinary post on his Virgin website, Richard Branson said he had been showed a report by the UN Office on Drugs and Crime (UNODC) which dramatically changed the organisation’s stance on drug control. He said the “as-yet unreleased statement” had been sent to some of the world’s media under embargo, but the businessman has gone public with it early for fear the UN will “bow to pressure by not going ahead with this important move”. The UN was preparing to declare “unequivocally that criminalisation is harmful unnecessary and disproportionate”, Branson wrote. A document changing the UN stance on drug control … Continue reading

Former Cara CEO tackling marijuana sector through Golden Leaf Holdings Ltd - Financial Post

Former Cara CEO tackling marijuana sector through Golden Leaf Holdings Ltd Financial Post Don Robinson says he is bringing the “best of big business practice” to just about the last place investors would think to look for it: the marijuana sector. “We’re a marriage of industry experts who don’t have corporate experience with corporate grey … and more Continue Reading … Continue reading

Top Marijuana Articles This Week

  Sunday, September 20, 2015 Marijuana Speculator     Good Afternoon, We have some great articles to share with you which were posted on our website this week. Top Articles For The Week A Brief History of Medical Marijuana The Real Reason Why Marijuana Will Be Legal Bernie Sanders Talks About Medical Marijuana, Decriminalization, Banking, And Legalization If you are not a current subscriber to http://MarijuanaSpeculator.com we encourage you to check out our services and get started soon. Enjoy your Sunday, The Marijuana Speculator http://MarijuanaSpeculator.com … Continue reading