He said that about 45 percent of Americans currently support the notion of marijuana legalization, but that according to statistician Nate Silver, by 2020 or 2021 that figure will rise to 60 percent, a number high enough to potentially make a political impact.
Given a recent FBI report that more than 855,000 marijuana-related arrests were made last year, he said, it makes sense that the average middle class American isn't piping up too loudly to legalize marijuana. The government can take away children, student loans, assets and more after marijuana charges, he said.
There still may be a stigma attached to marijuana, but given the First Amendment, St. Pierre said, the legal risks of starting pot-related web ventures are fairly low. And as more states adopt medical marijuana laws and momentum grows in favor of legalization, those early entrepreneurs may be in the best spot to ultimately cash in.
"Entrepreneurs not only recognize these markets, which in some ways are self-evident,they have the technical savvy and the entrepreneurial skills to take these risks," he said. "For business folks, those who are up front right now are really at the vanguard. ... At some point, they're going to be in the very best position to be snatched up by some major brand... or stand alone as a best of breed."