Cannabis is 'Greatest Growth Opportunity in Our Lifetime,' Vertical Wellness CEO Says
*By Amanda Weston*
Cannabis is about to experience its biggest year yet, according to the CEO of Vertical Wellness ー but 2020 promises even more growth for the industry.
"2019 is going to be the biggest year in history, until we get to 2020," Smoke Wallin, CEO of Vertical Wellness, told Cheddar Tuesday. "When you're on an exponential growth curve, every year is going to be giant. But this year is going to be bigger than any year before."
2018 saw major strides in the cannabis industry. Michigan [became the 10th state](https://thehill.com/homenews/state-watch/420008-legal-recreational-pot-begins-in-michigan) to legalize recreational marijuana, and Congress passed [the 2018 farm bill](https://www.washingtonpost.com/business/2018/12/11/congresss-billion-farm-bill-is-out-heres-whats-it/?utm_term=.7540f31a03ae), which legalized recreational hemp.
But Wallin said this is just the beginning for the industry, likening it to another substance that rocked the country.
"We're in the greatest growth opportunity in our lifetime," Wallin said. "Not since the repeal of Prohibition was there a category at this kind of scale that was illegal that became legal. So we're in the midst of that process and we're in the very early days. People say, 'what inning is it?' I say it's maybe first inning of preseason training."
Vertical Wellness is putting itself at the forefront of the hemp market. The company has lined up 5,000 acres for growing, which it says could produce an estimated $1 billion in CBD oil. Vertical Wellness is also gearing up for an Initial Public Offering.
Another major industry growing opportunity came when Gov. Andrew Cuomo (D-N.Y.) said he would [push for recreational marijuana legalization](https://www.nytimes.com/2018/12/17/nyregion/marijuana-legalization-cuomo.html) this year.
For Wallin, it's a good start ー but ultimately not enough.
"We were really excited that the governor decided to push forward on his agenda, but I have to say I'm a little disappointed in his numbers," Wallin said. "He came out publicly and said $300 million in tax revenue. It's going to be at least $1 billion for the state and communities here."
For full interview [click here](https://cheddar.com/videos/2019-will-be-biggest-year-in-cannabis-history-vertical-wellness-ceo-says).
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.
Variety's Clayton Davis discusses why more than just the 1% are struggling after the LA fires. Plus, how awards shows will pivot to help victims. Watch!