Recreational marijuana is now legal in California. On January 1st the law went into effect with over 90 dispensaries licensed to sell weed. Greg Zeman, Associate Editor at Cannabis Now, joins Cheddar to discuss the milestone and what's next for the industry.
Zeman breaks down what is believed to be the very first purchase of the now-legal substance in California. The cannabis market is expected to generate at least $1 billion a year in tax revenue for the golden state. He talks about how the state will allocate the money in terms of cannabis education, safety, and boosting other areas of the community such as fire departments.
Plus, how will this impact the medical marijuana industry. Zeman predicts that market will still exist. Many cities in California still don't have a recreational license, so people will still need to rely on their medical marijuana cards to purchase the drug.
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.
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