David Crosby is one of the poster boys of the hippie era. Now the music icon is getting into the modern cannabis business gold rush.
According to Benzinga, the co-founder of Crosby, Stills, Nash & Young and the Byrds, is pursuing a cannabis licensing opportunity tentatively called “Mighty Croz.”
“I figure, why not put that on the front of a pot package? If you’re walking into a dispensary and you see my face smiling up at you, you’re likely to try it. And that’s a good thing,” the 77-year-old says. “I’m going to approach it from the highest level. I’m going to market and advertise my brand a level to people who are intelligent and have sophisticated taste.”
Crosby’s brand will be a recreational marijuana opportunity, sparked by the growth of the legal cannabis business. But the singer-songwriter says he’s also impressed by opportunities in the CBD business.
He says the compound has real potential as a painkiller.
“As much as people just want to get high, I think you’re going to find that CBD — once it’s refined, concentrated, packaged and marketed — is going to become a hugely successful painkiller,” he says.
Crosby is far from the only iconic music figure to eye the legal cannabis market as an opportunity.
Snoop Dogg has set up a venture capital fund to invest in marijuana-related companies. This spring, the rapper’s Casa Verde fund announced it had raised more than $40 million to invest.
Karan Wadhera, Snoop’s managing partner at the firm, says the rapper has taken a largely hands-off approach to investments. “He’s hands-off on the investment process, but when it comes to certain companies, he’s very involved, including with Merry Jane, a lifestyle media site [focused around cannabis]. That’s content… That’s Snoop’s bread and butter,” Wadhera tells High Times.
Willie Nelson has also been active, selling his Willie’s Reserve brand of marijuana-related products. In July, he announced the launch of Willie’s Remedy, a CBD-infused coffee.
“It’s two of my favorites, together in the perfect combination. Like coffee, cannabis is a plant that works for me,” said Nelson.