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Hi, I’m Brad Feld, a managing director at the Foundry Group who lives in Boulder, Colorado. I invest in software and Internet companies around the US, run marathons and read a lot.

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Inappropriate Fearmongering About Marijuana by Bruce Benson – CU President

Comments (35)

I’m a huge supporter of CU and CU Boulder in particular. While it’s not my alma mater, I’ve probably contributed as much or more time and money as I have to MIT, where I spent seven years. Amy and I strongly support three institutions of higher education – MIT, Wellesley (where she went to school), and CU Boulder.

I was shocked and stunned to get an email from the CU President Bruce Benson yesterday. Here are the first few paragraphs, on the CU President letterhead.

“When Colorado voters in November passed Amendment 64, which legalized small amounts of marijuana for personal use, it led to a number of questions. Most uncertainty surrounds the conflict between the new state law and federal law, under which marijuana remains illegal. Amendment 64 will be signed into law in January and take effect in January 2014.

But for the University of Colorado, the issue is clear. Marijuana threatens to cost the university nearly a billion dollars annually in federal revenue, money we can ill afford to lose.

I was personally opposed to Amendment 64 and worked on my own time to defeat it. But it passed and CU, like many entities, is working to determine the implications.

The glaring practical problem is that we stand to lose significant federal funding. CU must comply with the federal Drug-Free Schools and Communities Act, which compels us to ban illicit drugs from campus. Our campuses bring in more than $800 million in federal research funds, not to mention nearly an additional $100 million in funding for student financial aid. The loss of that funding would have substantial ripple effects on our students and our state. CU contributes $5.3 billion to Colorado’s economy annually, a good portion of it derived from our research.”

Now, independent of your view on the legalization of marijuana, my immediate reaction was that this doesn’t make any sense to me. Last night at dinner, I asked Amy, who is on the Wellesley College board, what she thought. We talked about it for a while and agreed that it seemed extremely inappropriate for Benson to be using his role as CU President to advocate his personal position on this, especially in the context of a threat of losing a billion dollars of federal funding. Neither of us knew the exact rules here, but it just didn’t sound right to me.

This morning, I saw a response from Congressman Jared Polis – our local congressman, a longtime friend of mine and very successful entrepreneur.  Jared’s post was clear and unambiguous - CU Federal Funding Unaffected by Amendment 64: Benson’s Statement Alarmist and Irresponsible.

“The University of Colorado is not in jeopardy of losing a single dime of federal funding due to Amendment 64. President Benson has allowed his personal opposition to Amendment 64 to compromise his responsibility to the university by spreading an alarmist claim that has no basis in fact.

“The legality of marijuana in Colorado tomorrow will not impact CU any more than the legality of alcohol does today. The federal Drug-Free Schools and Communities Act requires universities to adopt and implement drug prevention programs to prevent the unlawful possession, use, or distribution of illicit drugs or alcohol by students and employees on school premises or as part of any of its activities. The University’s alcohol and drug policy bans the use of alcohol and marijuana on campus and satisfies the federal requirement.

“I will not stand by and allow the reputation of the University of Colorado to be sullied by the non-existent threat of losing one billion dollars. As the federal representative the University of Colorado at Boulder, I want to reassure parents, students, and faculty that CU is not in danger of losing any federal funding due to Amendment 64. I call upon President Benson to immediately retract his message and clarify that the University is not in danger of losing any federal funds due to the passage of Amendment 64.”

I respect Benson’s personal position, but I’m offended that he’d use his position the way he just did. Jared is right – Benson owes the members of the CU community a retraction.

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