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A vendor weighs buds for card-carrying medical marijuana patients attending Los Angeles' first-ever cannabis farmer's market at the West Coast Collective medical marijuana dispensary (AFP PHOTO/Frederic J. BROWN/Getty Images)

Pot boom

Retired women are entering the medical marijuana industry

June 4, 2017

The growing medical marijuana industry is seeing a remarkable trend: Women in their 50s, 60s and even 70s are starting pot-related businesses, inspired by their own experiences with the therapeutic use of the drug, according to a report by The New York Times.  “A lot of women have this family recipe, or they were making a certain kind of tincture for a loved one who was suffering. Now that pot is legal, they’re like, ‘Wow, that thing you were making for Grandma could be a real product,’” said Troy Dayton, the chief executive and a co-founder of the Arcview Group, an investment and market research firm that focuses on the cannabis industry. He noted that the legal marijuana industry has grown by 34 percent in 2016, and is now worth some $6.7 billion. As it is still a fledgling industry, there is no “built-in institutional bias against women of any age,” 58-year-old Nancy Whiteman, co-owner of Wana Brands of Boulder, Colo., which sells marijuana edibles observes. “In a lot of other industries, there are hundreds of years of history of who is successful and who is not, and there are glass ceilings to be broken,” she said. “But there’s no norm here. Everyone is figuring it out together.” One such story is that of Frances Sue Taylor, a 69-year old entrepreneur and former Catholic school principal who has been teaching seniors about medical marijuana for six years and will open a dispensary in Berkeley, California, for people over 50 in the coming months. She said she used to believe weed was a “hard-core drug like crack or cocaine,” and would never have imagined herself in this business even 12 years ago. That changed, she said, adding, “I get so much gratification from this work, and it’s so rewarding to see people get healed. My life is better than ever. I’m healthy, and I’m starting a new business at 69.”

Read the full story at The New York Times.


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