The sex “tech” industry is worth roughly $15 billion. Medical marijuana, or legal marijuana sales are estimated to reach $6.7 billion in 2016. Marijuana is widely known and most people wouldn’t need a pamphlet to understand marijuana. Or it’s budding legalization movement. But what about the sex tech industry? Sex tech is technology designed to innovate and enhance the human sexual experience. The sex tech and marijuana industries are booming. And both industries have a lot in common. Other than their billion-dollar worth.
Medical Marijuana and Sex Tech Startups are Legal
The legalization of cannabis in the U.S. is growing. Just as the taboo of sex begins to fade. This puts both industries to the legal test. These startups strive to follow the laws. More than most businesses. As they continue to cultivate and arouse their customers. This allows sex tech and marijuana startups to maintain good names in the industry. Following the law also leads to investors backing their startups.
They are the New Unicorns
Any startup that exceeds $1billion is considered a “unicorn” in the industry. And investing in sex tech and marijuana unicorn startups is good for business. According to ArcView Market Research, the cannabis market will increase by 25 percent in 2016. It is also predicted that the legal cannabis industry will reach $22 billion by 2020. Sex tech is still having growing pains when it comes to predictable forecasts. This may be attributed to its taboo nature.
Both Industries Have Faced Uphill Battles
The perception of marijuana and sex may still not be so corporate friendly. Regardless of how perfectly they follow the laws. These industries have had an uphill battle from the beginning. But they continue to grow and profit. Earning billions in a very short amount of time. This makes them resilient to most challenges other startups may have serious problems facing. This is beginning to make investing in these startup unicorns more appealing.
The Founders of Taboo Industries are Hardcore
Many startup founders receive funding for their innovative idea. This is backed by copyright, law, and a long line of investors. This is not the case in the marijuana and sex tech industries. These founders have battled with courts, banks, religious groups, communities and taboo. The founders in the cannabis and sex industries are indeed hardcore. They have faced big challenges and know how to get things done. Even if the odds are against these industry founders. They succeed.
The Marijuana and Sex Tech Industries Empower Women
You may not think of females, when thinking about cannabis or sex. Well maybe you do. But how about when you think about the cannabis and sex industries? Well, you should. Women are shaking up the startup world in these industries. They challenge, inspire, and continue to overcome challenges. Barriers most men wouldn’t dare approach. The fearless nature of women in the marijuana and sex tech startup world is defining the future.
