Overstock president Stormy Simon is leaving the company for a very different type of industry: cannabis. Simon is joining the many businessmen and women who are leaving behind their jobs in favor of greener pastures. Simon’s reasoning for leaving Overstock: she believes cannabis will be just as big as e-commerce.
Simon is Hardly the First and She Won’t Be the Last
“To come from the professional background that I have, to walk away from an amazing job at a company that I absolutely played a huge piece in building — you have to have a passion,” Simon said in an interview with CNBC. “My passion came from the research I have done, and from watching Colorado and their economic benefits. This just makes sense across the board.” Simon famously saw the potential of e-commerce back in 2001, before companies like Amazon.com had become household names. During her 15 years at Overstock, Simon helped build the company from the ground up. She helped turn Overstock into one of the biggest e-commerce brands in the world.
As far as her involvement with the cannabis goes, Simon is choosing to dip all of her toes in the water. She is now on the advisory board for KIND Financial, a company that specializes in providing technology and business solutions for the industry. Simon also holds a seat on the advisory board for CannaKids, which helps to advocate safe medical cannabis use for children. Simon’s interest is not all financial; she has used cannabis in the past to help with her own medical issues.
Her main focus is of course on the getting rich aspect. “Entrepreneurialism and cost-efficiency— are going to allow cannabis to disrupt the healthcare sector the same way that e-commerce disrupted traditional retail,” according to Simon.
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