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Jack pot

Thiel bets regulators just blowing smoke on weed

Kevin Allison & Daniel Indiviglio 

Kevin Allison & Daniel Indiviglio Peter Thiel may reckon regulators are just blowing smoke on weed. The PayPal billionaire's Founders Fund is backing the marijuana business, investing in Seattle-based farming firm Privateer Holdings. Though the stake could run up against US anti-drug laws, Thiel - like sharing-economy upstarts Airbnb and Uber - is wagering that the legal haze will clear. His reward could be sky-high returns. America's cannabis market seems to be budding nicely. Oregon, Alaska and the District of Columbia voted in November to join Colorado and Washington in legalising recreational pot use. Nearly ...

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First Published: Tue, January 13 2015. 21:31 IST