2014 vs. 2019
The Paxhia, Managing Partners, Poseidon Asset Management | Mar 20, 2019
Let's go back on a journey here to 2014. Let's re-discover what the landscape looked like back then in the context of how it looks today. In a word, different. A caveat is that the cannabis industry looks very different every year. When we look back, it's just amazing what we have seen over the last five years.
2014 was the year of course that Colorado became the first legal state for adult cannabis use on January 1st and Washington opened its doors six months later. We had about 11 medical states at that point. So the industry was very, very nascent at the time.
That nascent time provided a blank canvas for the legal cannabis business operating landscape. There were very few companies at that time. There certainly was a rush going on– but everyone was essentially together at the starting line. We launched our first fund in January 2014, and so we saw all of these folks coming out of the gate. We were trying to
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