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Foreign Correspondent: June 17

Ahead of a US state legalising marijuana, Patrick Kennedy grants exclusive access to his campaign against “Cannabis Inc.”

2014-06-15_2026Ahead of Washington state legalising marijuana, Patrick Kennedy, former Congressman and nephew of JFK, has given Foreign Correspondent exclusive access to his campaign against businesses aiming to make a profit from “Cannabis Inc.”

Next month Washington State becomes the second state to fully legalise marijuana. No longer will anyone over the age of 21 need a medical certificate. In anticipation, thousands of businesses are jockeying for supremacy of this booming market. New products and gadgets are being refined, and the big players are developing new marijuana brands, much like cigarettes, for the luxury retail sector.

A report commissioned for the White House says the illicit cannabis industry is worth 40 billion dollars per year. Now there are more than 2000 medical marijuana businesses, joining hundreds of new companies getting ready for the recreational market.

20 states have already decriminalized marijuana and there are more to come.

The new entrepreneurs are a different breed. This is America’s fastest growing industry and the new dope dealers have ditched the hippy clothes for suits and MBAs. The big money is rushing in, the “dot bong” era has begun.

Brendan Kennedy, Michael Blue and Christian Groh have started America’s first private equity company – Privateer Holdings. They hailed from such iconic companies as Microsoft.

“We were looking for holes in the marketplace,” he says.

Polls in the US show most Americans agree with medical marijuana and a growing number also support full legalization for recreational purposes.

“When we first started going into this industry we asked ourselves, morally, “Would we feel comfortable being in the cannabis industry?”’ says Brendan Kennedy.

“I’m not sure I could work in the tobacco industry. I’m not sure I could work in the alcohol industry.

“But having talked to so many patients and physicians, and talked to so many activists who are interested in individual civil liberties, or patient rights – you know, we feel there’s some moral imperative to succeed.”

Michael Blue says, “It’s a massive industry now and you know it will grow as further legalization takes place.”

Michael Blue told Foreign Correspondent, “For us it’s about reaching the biggest audience with the most professional brand.”

But while there’s broad public support for legalization, a growing opposition is warning that a new Big Tobacco is being created.

One of them is Patrick Kennedy – nephew of JFK, and son of Ted – and a man who’s had his own long battle with drugs and addiction. He’s formed a new organisation called SAM – Smart Choices on Marijuana and he’s taking on big business;

“It’s not about your civil liberty and your ability to smoke a joint now and again. This is about a commercial for profit behemoth coming in to prey on your kids, addict them and make money off of them and at your expense.”

8pm Tuesday ABC1.

One Response

  1. Thank you for this interesting story. Although reading the media release I laughed at the dot bong comment.

    I guess if this does take off it will need to be treated like alcohol and tobacco. Especially tobacco where it is highly regulated and taxed. Maybe in the end there will be “plain packaging” with health warnings plus horrible pictures on them decades from now. Also priced to discourage usage.

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