Marijuana, hemp, cannabis, pot, grass, the wacky tobaccy, Mary Jane, the Devil’s lettuce…

Whatever you want to call it, this plant has had a long and tumultuous history, in and beyond the United States.

We’ve come a long way since the 1930s and Reefer Madness.

At least, I certainly hope we can all agree that marijuana is not “the burning weed with its roots in hell.” I hope we all know the facts: that contrary to old-school propaganda, cannabis does not lead to “debauchery, violence, murder, suicide, and hopeless insanity.”

Today, marijuana is legal in four states, as well as the nation’s capital.

As 2016 approaches, seven different states will have legalization proposals on the ballot. If legalization successfully passes in those states, the cannabis industry has the potential to reach over $10 billion in the next several years.

Whatever your stance on legalization or decriminalization, there’s no denying that the marijuana start-up investment sphere is heating up.

When people advocate for legalization, one of the largest arguments is based in economics — centered on the tax revenue that will result from sales of cannabis and related products.

However, there are other economic opportunities, and we can all benefit from them even if our home state hasn’t made the push for legalization quite yet.

Social Networking

Do you ever look back and wish you had gotten in on Facebook (NASDAQ: FB) on the ground floor, when shares sold for $30 apiece?

Yeah, me too.

The good news is that in a way, we both still can.

CNN is calling it the “Facebook for stoners.”

It’s called MassRoots (OTC: MSRT), and it’s one of the largest and most rapidly expanding social networking platforms based on connecting people and businesses through cannabis.

In a recent interview, co-founder and CEO Isaac Dietrich stated, “Just as LinkedIn has become a person’s professional identity and Tinder has become a person’s dating identity, we want MassRoots to be a person’s marijuana identity.”

Facebook, Google, and Twitter all uphold bans on marijuana-related advertising.

MassRoots not only allows those advertisements but encourages them. The app uses geo-reasoning to provide individual users with information on nearby dispensaries — maybe about sales or the release of new strains.

In this way, MassRoots is an incredible marketing tool for local canna-businesses. There are already over 1,000 dispensaries participating in the database, and the app has the largest following of any canna-centric social networking application.

In Q2 of 2015 alone, the app expanded its user base by 45%, from 275,000 to 400,000.

MassRoots expects to have one million users by the end of 2015 and will continue to grow as legalization spreads.

What makes MassRoots different from other potential competitors?

Original market presence.

MassRoots developers believe that because they were the first — they were the innovators — it will be difficult for a competitor to enter the same sector.

I agree with them, and it’s been true before.

Facebook, in response to SnapChat, tried to launch Poke. Like SnapChat, pictures, videos, or messages could be sent to various users but only viewed for the designated amount of time — usually between three and 10 seconds. The app had all the same functionality as SnapChat and was essentially built on the identical premise. There were no differences between the two.

Let’s not kid ourselves: Facebook basically cloned SnapChat and then tried to launch it as its own.

Unfortunately for Facebook, even with its massive brand presence and product development resources, Poke was a complete flop.

SnapChat, the once-tiny start-up, is still ranked in the top five downloaded apps and is consistently expanding and updating its functions.

We could sit here and evaluate why Facebook, one of the original Internet trailblazers, has to rip off smaller companies, but that’s for another day.

It honestly makes me happy when the little guy wins, especially in situations like that, and I believe the same is likely to happen for MassRoots.

Like I said, we as a nation have come a long way in the evolution of marijuana policies and perceptions.

But we’re not all the way there yet.

Recent surveys still show that a certain level of anonymity is important to the majority of marijuana users. If you’re like me, your entire extended family is on Facebook.

Not everyone wants Nana seeing them rip a bong hit, but they do want to share their cannabis experiences with other aficionados and enthusiasts.

Duby (an obvious play on “doobie”) is an anonymous app that simulates “passin’ one to the left”… a photo, that is.

Users can anonymously post images of themselves, their paraphernalia, or whatever cannabis-related thing they decide. Once the image or video, called a “Duby,” is uploaded, it is automatically shared with another anonymous app user who is geographically closest to them.

The receiver of the file can choose to “pass the Duby” and continue the anonymous share or “put the Duby out” and end the chain right then and there.

Leafly, meanwhile, is quite simply the one-stop-shop for anything cannabis. Whether you’re a canna-connoisseur or a complete newcomer, I highly suggest visiting Leafly.

It’s like marijuana school.

Let’s say, hypothetically, that you had never heard of marijuana in your life and knew nothing about it.

Leafly would be your source.

The “Cannabis 101” section offers beginner info — a history of marijuana, how it’s used, and legal facts.

Or let’s say you’ve been a cannabis user for years. Maybe you want to explore a new strain or keep up with current events and trends in the marijuana community.

Again, Leafly would be your source.

Leafly allows visitors to immerse themselves entirely in the world of marijuana.

The “Explore” tool provides information about specific strains and forms of consumption — topical, edible, concentrate. Users can filter results by flavor, medical benefits, physical effects, or location. The site ranks and reviews those strains, as well as local dispensaries.

Users can create a journal to document their experiences after using each strain or provide reviews for other shoppers.

Overall, Leafly is producing $1 million in monthly revenue.

These three aren’t the only up-and-coming marijuana-based platforms.

There’s WeedMaps, which you could consider the MapQuest of local dispensaries.

There’s HighThere, which is basically a twin of Tinder but exclusively for cannabis lovers.

Is Colorado the Silicon Valley of Weed?

The cannabis industry is taking on the Internet and the app world in a very big way.

The only thing holding any of these companies back is politics.

Many of these apps won’t (or can’t) operate in states where marijuana is still illegal. But as 2016 approaches and several more states seriously consider legalization, there is a clear path for this market to grow.

California alone is the eighth-largest economy in the world, and it appears the legalization measure will surely pass there next year.

In California, marijuana is on the ballot to become regulated in the same manner as alcohol. This means the potential for legal pot bars and other public options for cannabis consumption.

The once-feared and stigmatized plant is becoming mainstream.

Gone are the days of the stereotypical “stoner.”

Gone are the days of hiding in your parents’ basement with a towel shoved under the door.

Regardless of your stance on the legalization of cannabis, there’s no reason to ignore the potential for incredible profits from this market.

So far, the legalized marijuana industry is worth over $3.5 billion.

The “green rush” is happening. It’s happening quickly and in more places than ever before.

Colorado is already leading the way, and it won’t be long before the rest of the country follows suit. If you don’t want to wait, social media platforms are the way to go. 

Yours in Wealth,

Jessica Sheppard