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The Associated Press reports that "Founders Fund, the $2 billion San Francisco venture capital firm run by Silicon Valley stars including Peter Thiel, co-founder and former CEO of Paypal, is investing in Privateer Holdings, a marijuana company that owns several pot-related brands."

No dollar figure was put on the investment, but it said to be several million dollars.

"Privateer, based in Seattle, owns Canadian medical marijuana producer Tilray and the pot information service Leafly. It is introducing a brand of marijuana and products with the family of Bob Marley called Marley Natural," the story says. Founders Fund partner Geoff Lewis, who is leading the firm's investment in Privateer, said in an interview that he believes the broader legalization of marijuana is inevitable ... There are 23 states that allow the use of marijuana for medical purposes, and Colorado has legalized its recreational use."
KC's View:
I remain personally conflicted about the legalization about pot, though I also think it is inevitable ... and that's what we are seeing in this investment move.