Big-name tech investors are pouring millions into the marijuana industry
“The storied Silicon Valley venture firm Benchmark Capital has launched a slew of tech companies: Twitter, Uber, Snapchat, Instagram. Now its search for the next big thing has led it to … pot.
Benchmark recently invested $8 million in Hound Labs, a startup here in Oakland that’s developing a device for drivers – and law enforcement – to test whether they’re too buzzed to take the wheel.
And that’s just the start. Wealthy investors are pouring tens of millions into the cannabis industry in a bid to capitalize on the gold rush that’s expected when California legalizes recreational marijuana on Jan. 1…”
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