This post has not been vetted or endorsed by BuzzFeed's editorial staff. BuzzFeed Community is a place where anyone can create a post or quiz. Try making your own!

Posted on Jun 11, 2018

10 Concerning And Exciting Things About The Growing Cannabis Industry

Two sides of this new frontier

by Terry Kushner

Community Contributor

There are currently 29 states that legalized medical marijuana and 9 states that legalized it even for recreational use.

Yes, the cannabis industry is booming. In the US, the cannabis industry is approximately 10 billion dollars, and it is expected to hit 50 billion in the next ten years.

While these numbers are exciting for many, the growing industry is a new "wild west" with some areas that cause concern.

I reached out to 10 prominent female founders in the cannabis industry, for them to share the 5 most exciting things, and 5 most concerning things about this new huge industry. Here are some of the ideas that I learned.

Since cannabis remains illegal on the federal level, and banks are federally insured, most financial institutions will not service cannabis businesses. In states where medical or recreational marijuana is legal, dispensary owners, manufacturers, and anybody who “touches the plant”, continue to face a host of operational hurdles, including a reluctance by banks to do business with them. Aside from a huge inconvenience and the need to find creative ways to manage financial flow, payroll logistics, and payment of taxes, this also poses the tremendous personal safety risk of operating a lucrative business in cash. This lack of access to traditional banking is certainly inhibiting industry growth. On the extreme end of the spectrum, if banking services are not soon extended to the legal cannabis industry, many companies are likely to be forced out of business. - Jen Price, Founder and Managing Director of Potnt

This industry is incredibly progressive. The industry has made conscious efforts to support the female leaders in the space and eliminate the sexually suggestive forms of advertising and sexist hiring practices that used to be prevelant in the industry. Though this number has declined in the last 2 years, women hold a large percentage of executive and leadership positions in the cannabis space, more than most other industries. Given the nature of the industry, the medical benefits focus on overall well-being and help patients turn away from prescription medications. - Marissa Ryan, Co-Founder of VisualFizz

New strains. Tons of people, more so since recreational hit, don’t enjoy getting too high and really dislike some of the side effects of cannabis. These include paranoia to anxiety to heart palpitations to loss of appetite or even increased appetite, but most consumers have traditionally accepted these side effects as just a necessary part of the ride. However, scientists have proven that we can improve an already wonderful plant. I like to think of it like they are breeding the love back into what has become a commercially driven plant — the focus of the industry has shifted to money instead of people. That’s why we now have novel cannabis that are better for you and filled with love and innovation. For example, Holy Crunch and OG Citron get you high without the negative side effects; these flowers are more like the way it used to feel when we were young, full of fun, love, and without the worry or anything negative at all. Love innovates. - Aundre Speciale, a director at Cannabis Buyers Club of Berkeley (CBCB)