Who says bong rips never led to anything productive?

Not Jamen Shively, that's for sure. The former Microsoft executive and Seattle resident says he has big plans for a premium marijuana that will presumably be sold to adults throughout the state of Washington. Coincidentally, we're sure, he says that his latest business idea came to him after a recent smoke out.

Jamen's new company will be called Diego Pellicer, named after Shively's great-grandfather who was allegedly the world's leading marijuana producer at the end of the 19th century. It wasn't for recreational usage though; the original Diego Pellicer supplied tens (if not hundreds) of thousands of feet of hemp rope to the Spanish Armada during his time as owner of the world's largest grow operation.

While many business owners and other investors have remained wary of the legalization of marijuana, Shively is clearly either less concerned with a potential loss of his investment and/or confident that the new law will remain in place. There haven't been any other major cannabis suppliers popping up since the passage of Initiative 502 in Washington last month, or in Colorado following the approval of Amendment 64 either, though it's possible that Shively and company aren't planning a large scale operation either.

Like Colorado, the state of Washington voted to legalize the recreational usage of marijuana for adults 21 years or older, though it remains illegal under federal law. Analysts have predicted that the state could make up to $5 billion dollars during the first year of sales alone, but I have to wonder if they were expecting the arrival of a pot "brand" like Diego Pellicer to arrive so soon after the legislation's passage.

Shively and his fellow investors hope that they can create a market similar to those of fine brandy or premium cigars. It seems unlikely that they'll be offering an budget products at Diego Pellicer either, with Jamen telling KIRO that Pellicer products will be something "to be savored and enjoyed" in limited quantities.

During an interview with the Huffington Post, Shively said that he hopes people will think of Diego Pellicer as the "Neiman Marcus of marijuana," and his company plans to market to baby boomers who may enjoy the occasional smoke now that their children have grown up.

So, do you think Jamen Shively will be able to get Diego Pellicer up and running?

Let us know in the comments section!