Venezia: ‘Green rush’ is on, and cities can’t ignore it

The term 420 and April 20 has special significance for marijuana enthusiasts.

If you’re not in the counterculture know, let me clue you in.

4:20 p.m. is considered an acceptable time to smoke. Think of it as the cocktail hour for weed.

A group known as the “Waldos” claim to have originated 420 in San Rafael in 1971.

“The group began meeting every day at 4:20 p.m. after school, and eventually began to use 420 as a code for marijuana so they could talk about pot in front of parents and teachers,” according to High Times magazine.

Many attribute the spread of the term 420 to followers of the band the Grateful Dead, who also had ties to San Rafael.

April 20 is also a day of cannabis celebration worldwide, a fitting time to look at what’s happening now with the laws.

I’ve written many articles about the legal dilemmas and benefits associated with medical marijuana, even for pets.

Costa Mesa, Huntington Beach and Santa Ana continue to struggle with the concept of dispensaries and grower facilities.

Up until now, the argument has been how to balance liberal California law, which permits the use of medical marijuana, with federal law, which does not.

But could election year 2016 be the turning point for federal decriminalization?

Many industry watchers believe so.

The conversation nationwide was once only about medical marijuana. Now it has shifted to include recreational use, as cannabis becomes the next gold rush, or as insiders call it, “the green rush.”

An April 20 article in Forbes looked at the economics and the upcoming 2016 elections, saying a 2014 Gallup poll showed that 51% percent of Americans favor pot legalization.

That same day a New York magazine article stated that “fully 58% of Americans believe pot will be legal nationwide in the next 20 years.”

Forbes goes on to say that legalization now could take away as much as $10 billion from cartels and that pot is the second most profitable cash crop in the United States after corn.

It also says Colorado could see a windfall of $40 million in tax revenue generated by legalization of medical and recreational marijuana this year alone.

Big business is paying attention.

In 2012, I interviewed former Morgan Stanley investment banker Derek Peterson for another publication. His cannabis company, Terra Tech, was on the cutting edge of this boom.

Last year, Terra Tech was poised to be the first public company to hold marijuana licenses in the U.S.

Explaining that his company is publicly traded, he told me, “Our market cap is approximately $100 million.”

Public relations firms, interior designers, hedge funds, investment bankers, business consultants, software designers, lawyers and high-powered lobbyists are among the many people and industries now specializing in this space.

Los Angeles entrepreneur Jeremy Carr spent $120,000 developing a new app called BlazeNow, which in a few weeks will connect cannabis-related businesses, patients and customers. Carr hopes to surpass his biggest competitor, Orange County-based Weed Maps, and generate over $2 million in revenue by his second year.

Locally, I checked in with Pati Cakes, O.C.’s self-proclaimed queen of cannabis baking. She tells me her patients, who are all over 50 years old, suffer with cancer, multiple sclerosis and other illnesses, and they benefit greatly from her edibles.

On the 128th episode of her “Hemp Radio” podcast last week, her guest was none other than former Costa Mesa Planning Commissioner Jim Fitzpatrick.

Fitzpatrick is now offering consulting services to this budding industry.

“I believe my skill set is looking at complex issues that require customized solutions,” he told Pati Cakes.

He said cannabis should be regulated like alcohol.

Calling himself a “solutioneer,” Fitzpatrick said land-use issues are key when these businesses are working with cities.

Fitzpatrick’s list of his services include fundraising, crafting best practices with cities and interfacing with government officials.

It will be interesting to see if he can sway some of the non-believers, or at least the marijuana agnostics, on the council.

Opponents of cannabis say it’s a gateway drug and these businesses shouldn’t be allowed.

But what about alcohol?

Newport Beach and Costa Mesa have an abundance of establishments that serve booze.

Some individuals take their first drink and never become alcoholic while others do. One could argue the same for pot — a couple of tokes don’t lead to dependency for many users.

The marijuana train has left the station. This industry is growing rapidly. Cities need to figure this out before 2016. I have a feeling that “just saying no” isn’t gonna fly.

BARBARA VENEZIA lives in Newport Beach. She can be reached at [email protected].