A rapidly evolving legal landscape is keeping cannabis investors on their toes. We talk to private-equity investor Matt Hawkins, who has long experience in the sector, about pot's potential. Also: unemployment insurance versus a tight labor market.
The second-largest private employer in the U.S. is making the change as more states are moving to legalize cannabis or introduce laws banning employers from testing for it.
Amazon operates and is rapidly expanding into places where marijuana is legal. Image: Steven Senne/AP
Updated June 2, 2021 at 11:46 AM ET
Amazon will no longer test most job applicants for marijuana use in the latest sign of America s changing relationship with pot. Amazon, the second-largest private employer in the U.S., also says it now backs legalizing marijuana nationwide. In the past, like many employers, we ve disqualified people from working at Amazon if they tested positive for marijuana use, the company said in a blog post on Tuesday. However, given where state laws are moving across the U.S., we ve changed course.
Entourage Effect Capital has put more than $200 million into 65 companies.
One of the cannabis industry s biggest investors is a Dallas firm.
6:00 AM on May 20, 2021 CDT
When Matt Hawkins first considered investing in cannabis in 2014, a couple of his longtime partners sat him down and offered some sobering advice: “You can’t do this. You’re going to ruin your reputation.”
Hawkins didn’t listen.
Today, seven years later, the Dallas native runs one of the oldest, largest and most well-respected cannabis investment firms in the U.S.
“Texas has been one of the laggards in terms of medicinal and adult use of cannabis, but one of the most prolific investors is in its backyard,” Hawkins said.