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Christian Peacock / Forbes

In just over two decades, Academy of Art University in San Francisco has been transformed under President Elisa Stephens. It has expanded from just over 2,000 students to 16,000. Its revenues have also grown from around eight million dollars a year to about $300 million.

California medical marijuana advocates should be a little bit happier than usual today because the California Supreme Court has decided to review Pack v. Long Beach and two other cases that have led to dispensary bans in many cities and counties...