Shows like Downtown Abbey, Palm Royale, and more have showed the  big, big rich lives – and a few even touched the marijuana counterculture movement.

It seems we can’t get enough about the lives of the very rich. Shows including Downtown Abbey, Succession, the Gilded Age, and Palm Royale are all over and people are loving it. Ryan Murphy has done well and is just off his latest series Truman Vs.The Swans.  All of this highlights the extremely well to do and how they live life.  But did you know about the gilded age Heiress who helped the marijuana movement?

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The Mellon family is in the rare category of being big then and still today. On the East Coast they continue to still have pull and cache like the “new money” Gates, Zuckerberg and Bezos.   An old family from Pittsburgh, they made the start of it all in banking, the Mellon in today’s BNY Mellon. The family includes Andrew Mellon, one of the longest serving Treasury Secretaries, along with famous members in the judicial, banking, financial, business, and political professions.  Bunny Mellon was one of the great philanthropists and art collectors.  A dear friend of Jackie Kennedy Onassis, she designed a number of significant gardens, including the White House Rose Garden

But it was Peggy Mellon Hitchcock, another Mellon heiress who helped the counterculture. Her mother was a Mellon and her father, Thomas Hitchcock Jr., was a leading polo player and a partner at Lehman Brothers.  Peggy was a spitfire and was as comfortable in the family’s many homes as in a smokey jazz club with artists. Spirited and fun she was always open to what’s new and what’s next.  She had an unlikely relationship with Timothy O’Leary. She persuaded her brothers to let O’Leary have use of their joint family estate Daheim (also known as Millbrook or the Hitchcock estate).

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For 5 years, O’Leary, thanks to Peggy lived like a king and had guests including Allen Ginsberg, Charles Mingus, and R. D. Laing to the old monied manse. What went on is the stuff of legends with a blend of art, marijuana, money, new ideas, psychedelics, music and love. The The New York Times’ Luc Sante, described it as “a period filled with endless parties, epiphanies and breakdowns, emotional dramas of all sizes, and numerous raids and arrests.” Nina Grabol shared it was “a cross between a country club, a madhouse, a research institute, a monastery, and a Fellini movie set.”

Peggy was responsible for helping the counterculture rest, regroup, and move forward.  Who knew this would be the early path to rescheduling?

The Economic Impact of Cannabis: A Growth Engine for Local Economies

The rapid expansion of the cannabis industry is reshaping local economies, injecting over $100 billion into the US economy in 2023, with a projected 12.5% growth in 2024. This significant impact is supported by companies like Seed Connect, a US-based cannabis seed bank.

Beyond direct sales, the broader economic ripple effect benefits various sectors, enhancing both community development and financial prosperity. The contribution of cannabis to local economies extends beyond mere financial injections.

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For every $10 spent on cannabis products, an additional $18 flows back into the economy, driving economic activity that supports small businesses, creates jobs, and generates substantial tax revenue.  This multiplier effect underscores cannabis as a robust driver of local economic growth.

States like California, Colorado, and Washington have seen cannabis tax revenues surpass those from alcohol, highlighting the industry’s potential as a significant fiscal contributor.

The ongoing legalization and increasing acceptance of cannabis across the U.S. promise to amplify these economic benefits. Furthermore, the cannabis sector has become a critical employment hub, supporting over 400,000 full-time jobs nationwide.  This number is expected to rise as the market expands, illustrating the industry’s role in fostering a diverse range of job opportunities across retail, cultivation, and beyond.

The economic dynamics of the cannabis industry also include enhancing public health outcomes.

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Many localities utilize cannabis tax revenues to fund public services such as education and healthcare, directly benefiting community welfare.

Moreover, the industry’s growth encourages sustainable agricultural practices and technological innovations that further enhance its economic and environmental impact.

Considering these factors, the economic influence of cannabis not only represents a compelling narrative for States contemplating or already benefiting from legalization but also positions the industry as a pivotal element in future economic planning.

Investors, policymakers, and community leaders are increasingly recognizing the potential for sustained economic benefits, making cannabis a crucial area of interest in economic development discussions.

As the cannabis industry continues to evolve, its capacity to contribute to economic stability and growth becomes ever more apparent, ensuring a dynamic and resilient future for local economies.

The cannabis industry has had a rough couple of years, but things are looking brighter.  The one constant positive is consumer demand has continuously increased. You know it is good when Missouri has over $1 billion in sales last year. And, despite the struggles, the industry continues to grow.  In fact, surpassing other job reports, the cannabis industry grew 5%. Around 440,000 work in market as of today.  It is a clear indicator legal cannabis is here to stay.

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While 440,000 is a big number – how big is it in relation to other industries?  BDSA, an analytical firm who covers cannabis, reported the industry made $29.5 billion in the legal market. It would have been over $30 billion if not for the chaos and huge illicit market in New York.  Like most industries, the weed one includes dispensaries, manufactures, some ancillary services, farmers and management.  It is also a very small sliver of greater farming community. America’s farm families represent two percent of the population and help feed the other 98%.

Subway Sandwiches with a revenue of 16.5 billion employees roughly 410,000 including the franchises.

Grocer Kroger employs 430,000 in 36 states in 2,700 locations with sales of $150,000.

Target has 440,000 in their US retail stores with sales of $107 billion.

Starbucks and their famed coffee have 381,000 brewing almost $36 billion in sales at 16,449 locations.

Dentists, clocking in at half the number at 202,000, but if you fold in everyone in the industry including dental hygienists, they have 1,140,861 people employed in the US dental industry as of 2023.

CocaCola’s total number of employees in 2022 was 82,500. This helps drive the juggernaut of beverages with more than 1.9 billion servings of drinks sold in more than 200 countries each day.

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The US alcohol industry supports around 4 million jobs, including employment in production, distribution, sales, bartenders and other related services.  They help drive the drinks market of $183.5 billion last year.

Constellation, the alcohol company invested in cannabis has approximately 10,000 employees and Diageo has 3,100 people across North America.

Tobacco manufacturing in 2021 had 16,767 people and generated $886.09 billion in 2023.

The U.S. pharmaceutical industry employs over 1.3 million people. It is the largest pharmaceutical market generating over $550 billion dollars.

There are 29,711 people employed in the Strip Clubs in the US as of 2023.

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As the cannabis market continues to grow and partner with adjacent industries, it will another part of employments, economy and everyday life.