Cannabis investment has gone mainstream, but not in Washington

It’s no secret that the tech industry likes marijuana. On HBO’s true-to-life comedy “Silicon Valley,” Erlich Bachman, the blowhard entrepreneur, has a marijuana home-grow in his garage, a bong in the dining room and “get kush” on his to-do list.

It took a while, but Silicon Valley’s huge institutional investment funds are finally buying green.
Peter Thiel, co-founder of PayPal (and inspiration for the awkward savant investor in “Silicon Valley”), led the market in January with a $75 million investment in Privateer Holdings, a Seattle-based private equity firm specializing in marijuana.

That stamp of approval was followed, almost overnight, by venture capital from early investors of Uber, Tesla and Reddit flowing into marijuana-focused companies. Cannabis investment has gone mainstream.

What does this mean for Washington, the co-pioneer with Colorado on legalization? Not much. The investment is likely to skip right past us because the state hasn’t

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