Many savvy investors today are putting their money into tech companies. When you think of the term "venture capitalist," you likely picture a middle-aged executive in a fancy suit who works on Wall Street, and not the hip hop artist Snoop Dogg; however, Snoop has invested in a number of startups and has recently expanded his portfolio by investing in a cannabis-related company called Mary Jane.
Investing in Fun
When Snoop Dogg has been asked in interviews about his investment strategy, the laid-back super star has explained that he looks for investments that he thinks are fun. If he can't get excited about a company, he isn't willing to invest in it. A business must have that certain wow factor in addition to showing the promise of future profitability. Over the years, the rapper's venture capital firm has invested in a number of companies, including a brand of gourmet coffee called Philz Coffee, the stock buying and selling app Robinhood, and the marijuana delivery company Eaze.
About Mary Jane
Mary Jane has been compared to Gwyneth Paltrow's site Goop, only instead of being a lifestyle site devoted to women, Mary Jane is a site dedicated to the marijuana lifestyle. The media company will produce informative articles and videos on a wide range of topics related to marijuana. The idea is for the site to serve as a resource for those who are new to recreational marijuana in places where it is legal, and for those who are considering medical cannabis as a treatment for a chronic condition or illness. In addition to the informative content, the site will help users find legally licensed dispensaries located near them.
Snoop's investment in Mary Jane reflects his ongoing commitment to activism in the cannabis legalization movement. The rapper has never been afraid to speak out about his use of marijuana and to make his voice heard on the issue of legalization. In interviews, he speaks candidly about his belief that cannabis should be fully legalized everywhere in the United States and around the world. By investing in companies like Mary Jane and Eaze, he is helping to grow the developing marijuana industry. As companies become more and more profitable, the fight for legalization is only likely to be strengthened, as powerful investors will be lobbying for change alongside grassroots activists and long-time legalization supporters like Snoop Dogg.