Peter Thiel isn’t holding back when it comes to the legalization of marijuana. At the Launch Festival in San Francisco today, he was asked about his thoughts on the legalization of marijuana.
He mentioned that he “doesn’t think there’s anything unusual about cannabis…this is a trend that is happening and will continue to happen.”
Thiel is putting his money where his mouth (or mind) is. Last year, his venture capital firm Founders Fund participated in a $75 million Series B round for a cannabis startup. The company — Privateer — was valued at about $425 million.
The debate over the legalization of marijuana has long been divisive, though the tide seems to be turning for legalization. The benefits of medical marijuana are numerous, and some studies have even shown that substituting marijuana for alcohol has led to a decrease in automobile deaths.
Peter Andreas Thiel is an American entrepreneur, venture capitalist, and hedge fund manager. Thiel co-founded PayPal with Max Levchin and Elon Musk and served as its CEO. He also co-founded Palantir, of which he is chairman. Wikipedia