Christian Sederberg Discusses Cannabis Industry Growth and Big Law Competition With Reuters
Jun 23, 2021
VS founding partner Christian Sederberg was recently interviewed by legal columnist Alison Frankel of Reuters about his background in cannabis law and thoughts for the future.
An excerpt from the interview is below, but don't skip the 9-minute video interview. Watch here!
When Denver-based corporate lawyer Christian Sederberg decided in 2010 to team up with activist Brian Vicente to form a law firm dedicated to cannabis, Colorado’s medical marijuana industry was in its infancy and not a single state in the country had legalized the recreational use of it. Now only 13 states prohibit all use of cannabis – and Am Law 100 firms are scrambling to build practices in what has become a $20 billion industry. I spoke recently to Sederberg about being a pioneer in a burgeoning business, waiting for the federal government to clear marijuana use and whether he is a cannabis consumer as well as counsel.
FRANKEL: How has the industry grown in the decade that your firm's been in practice?
SEDERBERG: It’s wild. We’re looking at a $20 billion industry. It's grown by leaps and bounds. It went from a lot of smaller, compassionate-use operators, which are still out there, but it’s become more corporate, more formal, more big business. The growth has just been staggering. We now have publicly traded companies that are worth billions of dollars. We have venture capitalists and private equity firms that wouldn't have touched anything like this, even just a few years ago. And it's fascinating because it's not just about cannabis. It’s about medicine. It's about the potential to really change people's lives in a very positive way.
FRANKEL: I’ve noticed in the last five years or so that more big law firms are deciding that cannabis is their next big target industry. What do you think of these people jumping in years after you guys took your big risk?
SEDERBERG: It means we're winning!