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The dot-com craze has provided a number of lessons for emerging cannabis businesses seeking opportunities in an industry gaining legitimacy across North America.
Over the past several years, cannabis has been the single most talked about industry among North American investors and for good reason. The historic legislative breakthroughs for legal cannabis have created numerous opportunities and no small amount of excitement. Investors who have been in the game for a while, however, probably remember that this isn’t the first time an exciting industry has come seemingly out of nowhere and generated massive buzz and speculation. Much like the mania that ensued during the dot-com bubble, the trend towards a global cannabis market is offering both opportunities and challenges to new companies on the market.
Legal cannabis businesses and investors have something that many of the dot-com stakeholders probably could have used: the benefit of hindsight. Investors can look to previous bubble cycles to find indications of where cannabis markets might be on the timeline while seeking out companies with solid foundations. Meanwhile, cannabis companies can ensure their staying power by adopting proven business models.
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