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People cheer for the marijuana-legalization underdogs now, but endgame, if it proceeds to all 50 states, looks like this: Altria and other players in the $112 billion US tobacco market buy up the little cannabis startups and start advertising and promoting marijuana use on large scale. The government steps in to regulate distribution and advertising. Is that what we want? Because that's where we're going.

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Look at beer. There is a thriving home and micro brew type market out there.

Yes, the vast majority of beer is "big beer" and that's fine. For those actually wanting a great beer experience, they can get it.

IMHO, we will see the same thing with cannabis. There is a lot of variety, and there are also some clear "can't miss" strains that will prove sufficient to the majority of potential users.

For those really interested in that variety, I suspect the micro-brew type model will end up working well.

If medical laws are left alone in enough places, we will see ongoing variety come out of those efforts.

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