Cannabis is the latest hot investment for tech billionaires, with the the original bankroller of Facebook ploughing money into Bob Marley-branded weed.

cannabis-investors

US investors predict a legal cannabis industry worth tens of billions of dollars Photo: Alamy

Silicon Valley has given its seal of approval to America’s burgeoning legal cannabis industry with investors who bankrolled Facebook giving millions of dollars to drug start-ups.

Supporters of cannabis legalisation called it a “Berlin Wall moment” and a “tipping point” as money was committed by Founders Fund, the venture capital firm started by Peter Thiel, the billionaire who gave Mark Zuckerberg his first $500,000 in funding.

“We don’t worry what people think about us,” said Geoff Lewis, a partner at the firm, adding that cannabis would be a “massive industry within the next decade.”

The money will help to fund Marley Natural, which will sell Bob Marley-branded strains of Jamaican cannabis for recreational users.

It will also fund a cannabis producer with a 60,000 sq ft facility in Canada and an online service called Leafly where users review strains and sellers of the drug. Leafly already has four million visitors a month… Read entire article here