Darien Dash is a business advisor, and managing director at The Movement Management Advisors, where he has worked since January 2015. The Movement Management Advisors is a business development firm that provides advice on a variety of topics, including the cannabis, sports, banking, and entertainment industries. He graduated from the University of Southern California in 1993 with a bachelor’s degree in political science and was a member of the Alpha Phi Alpha fraternity.
Darien Dash advises entrepreneurs to pay close attention to their financial statements, and to be keenly aware of how their business is spending its money, as the bottom line of is crucial to any business’ lifeblood. He advises business owners to carefully review both personal, and business expenses at the end of every month.
One area Darien Dash provides advice concerning is the newly created legal marijuana industry in the United States. Although cannabis remains illegal at the federal level, 10 states have made it legal to possess and consume under state law, and 33 have made it legal for medical use. Darien Dash believes that cannabis will soon be legalized at the federal level for recreational use, which will create millions of jobs nationwide and provide an economic stimulus in many areas, especially as more states successfully legalize the drug. Investors in the legal cannabis industry are already reaping substantial rewards from the product, with over a quarter million jobs already created.
Nationwide, over 60% of adults favor cannabis legalization, five times higher than the number who supported legalization 60 years ago. As unclear, and at times conflicted regulations make banks, and other large institutional investors unwilling, or unable to provide loans or other services to those in the cannabis industry, many cannabis companies are forced to do business in cash. Reforms to the financial system, which are likely to come with full cannabis legalization at the federal level, will make it easier for banks to do business with these companies. The SAFE Banking Act is one such piece of legislation. This, and other pieces of legislation will create further opportunities for investors in the legal cannabis industry.
