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#087 - From Hedge Funds to Hash: Inside Cannabis IR with Jesse Redmond
Jesse Redmond, Head of Investor Relations and Business Development at Leaf Brands, brings his unique perspective as a former Wall Street investor and cannabis dispensary owner to discuss the challenging landscape of public cannabis companies. His insights reveal why certain companies are weathering the storm better than others and how innovative strategies like Bitcoin treasury reserves and strategic farm investments are positioning some for future growth despite industry headwinds.
• Cannabis public markets have experienced a brutal 95% decline since February 2021, creating unprecedented challenges for companies and investors • Successful cannabis companies focus on operational excellence rather than regulation-dependent growth strategies • Leaf Brands is developing a 187-acre cannabis farm expected to dramatically reduce production costs from $20-40/lb to approximately $10/lb • First cannabis company to implement a Bitcoin treasury strategy to strengthen their balance sheet against dollar devaluation • The high cost of maintaining public company status ($80-100K monthly) is driving some cannabis companies to consider going private • State-by-state regulatory changes create complex strategic decisions, particularly around hemp/THCA cultivation versus traditional cannabis • Personal connection to cannabis's medical benefits keeps many professionals committed despite financial challenges • Investors should be selective rather than taking a "buy the basket" approach, focusing on companies with strong balance sheets and clear growth catalysts
If you enjoyed this episode, please drop us a review on Apple Podcasts, Spotify, or wherever you listen. Until next time, stay curious, stay informed, and keep your spirits high.
Ben and AnnaRae explore the latest cannabis market developments across multiple states and at the federal level, highlighting both progress and persistent challenges. They dissect New York's comprehensive market report showing local brands outperforming multi-state operators while California cannabis businesses organize against impending tax increases.
• Ben shares insights from Atlantic City's MJ Unpacked conference where New Jersey operators display optimism while cautious veterans observe from experience • AnnaRae visits Coastal Sun Farm, a certified organic cannabis and blueberry farm embracing traditional agricultural techniques and environmental stewardship • Federal developments include DEA nominee Terrence Cole stating cannabis rescheduling would be "one of his first priorities" despite previous anti-marijuana stance • New York's cannabis market shows improvement with 513 brands operating and top five NY-based companies capturing 21% of sales • California cannabis businesses rally against excise tax increase from 15% to 19%, with Los Angeles dispensaries reportedly considering a tax boycott • Canadian company Organigram acquires beverage brand Collective Projects, highlighting international opportunities unavailable to US companies • SBA confirms hemp businesses remain eligible for federal loans while marijuana businesses are excluded regardless of state legality
Join NCIA lobby days in Washington DC on May 13-15 to engage with lawmakers and help shape cannabis policy.
Join Ben Larson & AnnaRae Grabstein on High Spirits as they explore the journey of transforming a hemp marketplace and media site into a multi-state cannabis brand with a strong community focus. We'll be joined by Kate Miller, co-founder and CEO of Miss Grass , who has masterfully steered the brand from its roots as a hemp marketplace to a prominent player in the regulated cannabis market.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In this deep dive, Kate will share her strategies for cultivating a dedicated community, the challenges and triumphs of scaling in a highly competitive industry, and the pivotal decisions that have shaped Miss Grass. We’ll explore everything from the early days of building brand loyalty through education and content to the complexities of navigating multi-state operations.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝑪𝒐𝒎𝒎𝒖𝒏𝒊𝒕𝒚 𝒂𝒏𝒅 𝑩𝒓𝒂𝒏𝒅 𝑳𝒐𝒚𝒂𝒍𝒕𝒚: Discover the strategies Miss Grass used to build and scale its community, and how focusing on education and content creation has fueled brand loyalty.
𝑫𝒊𝒓𝒆𝒄𝒕-𝒕𝒐-𝑪𝒐𝒏𝒔𝒖𝒎𝒆𝒓 𝑫𝒚𝒏𝒂𝒎𝒊𝒄𝒔: Learn about the challenges and advantages of maintaining direct relationships with consumers, and how these insights have influenced product development.
𝑵𝒂𝒗𝒊𝒈𝒂𝒕𝒊𝒏𝒈 𝑬𝒙𝒑𝒂𝒏𝒔𝒊𝒐𝒏 𝒂𝒏𝒅 𝑪𝒐𝒎𝒑𝒆𝒕𝒊𝒕𝒊𝒐𝒏: Gain insights into the strategic decisions behind market expansion, dealing with competition from larger operators, and how Miss Grass has adapted its approach to maintain brand integrity.
𝑶𝒑𝒆𝒓𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝑬𝐟𝐟𝒊𝒄𝒊𝒆𝒏𝒄𝒚 𝒐𝒇 𝒕𝒉𝒆 𝑯𝒆𝒎𝒑 𝑴𝒂𝒓𝒌𝒆𝒕𝒑𝒍𝒂𝒄𝒆: Understand the differences between the state-regulated cannabis industry and the hemp marketplace from a go-to-market and operational perspective.
🌟 𝗠𝗲𝗲𝘁 𝗞𝗮𝘁𝗲 𝗠𝗶𝗹𝗹𝗲𝗿: Kate Miller is the co-founder and CEO of Miss Grass, a brand at the forefront of transforming cannabis culture. Her journey from New Jersey to the West Coast and back again has been marked by bold leadership and a keen eye for market dynamics. Kate’s unique approach to business and her commitment to community, education, and quality have established Miss Grass as a leader in the cannabis industry.
Join Ben & AnnaRae on High Spirits as we delve into the world of cannabis retail with Christopher Violas, CEO of BLAZE®. This episode explores how cutting-edge technology and strategic market insights are reshaping the cannabis industry from the ground up.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In this discussion, we'll cover the impact of technology and operational efficiency in cannabis retail. Christopher Violas shares his insights on a range of topics including:
𝘙𝘦𝘵𝘢𝘪𝘭 𝘊𝘰𝘯𝘴𝘰𝘭𝘪𝘥𝘢𝘵𝘪𝘰𝘯 𝘢𝘯𝘥 𝘌𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘤𝘺: Discover how centralizing decision-making and automating processes are helping retailers do more with less.
𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳 𝘉𝘦𝘩𝘢𝘷𝘪𝘰𝘳 𝘛𝘳𝘦𝘯𝘥𝘴: Understand how regional preferences and economic models affect product demand and retail strategies.
𝘐𝘯𝘵𝘦𝘨𝘳𝘢𝘵𝘦𝘥 𝘛𝘦𝘤𝘩𝘯𝘰𝘭𝘰𝘨𝘺: Learn about the move towards holistic solutions that connect POS, e-commerce, and inventory management under one roof.
𝘌-𝘊𝘰𝘮𝘮𝘦𝘳𝘤𝘦 𝘢𝘯𝘥 𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳 𝘊𝘰𝘯𝘷𝘦𝘯𝘪𝘦𝘯𝘤𝘦: Explore the shift towards online ordering and how cannabis retailers are optimizing for delivery and pickup.
𝘈𝘐 𝘢𝘯𝘥 𝘋𝘢𝘵𝘢 𝘪𝘯 𝘙𝘦𝘵𝘢𝘪𝘭: Get insights into how AI is revolutionizing inventory management, customer retention, and personalized marketing.
𝘌𝘹𝘱𝘢𝘯𝘥𝘪𝘯𝘨 𝘉𝘦𝘺𝘰𝘯𝘥 𝘊𝘢𝘯𝘯𝘢𝘣𝘪𝘴: Discuss Blaze’s strategic moves into hemp, CBD, and other retail arenas.
𝘓𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘢𝘯𝘥 𝘛𝘦𝘢𝘮 𝘋𝘺𝘯𝘢𝘮𝘪𝘤𝘴: Gain perspective on managing a diverse, remote workforce and scaling a high-tech business in a rapidly evolving industry.
💡 𝗠𝗲𝗲𝘁 𝗖𝗵𝗿𝗶𝘀𝘁𝗼𝗽𝗵𝗲𝗿 𝗩𝗶𝗼𝗹𝗮𝘀: Christopher Violas is not only the CEO of BLAZE® but also a visionary who has seamlessly blended technology with cannabis retail. From founding a cannabis delivery service to leading a tech-driven revolution in the cannabis industry, Chris brings a wealth of experience and innovation. Under his leadership, Blaze has processed over $1 billion in annual cannabis sales and expanded its footprint to support hundreds of dispensaries across North America.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is a must-listen for anyone interested in the intersection of technology and cannabis retail. Whether you're an industry veteran, a budding entrepreneur, or simply curious about the future of cannabis markets, you'll find valuable insights that could shape your view of the industry.
Join us on this week's episode of High Spirits: The Cannabis Business Podcast, where we delve deep into the verdant fields of Humboldt County with Scott Vasterling, the visionary founder of Humboldt Family Farms. Discover the rich legacy of cannabis cultivation and the promising future of sungrown cannabis in one of the industry's most storied regions.
🌞 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In an industry that's rapidly evolving, there's a growing appreciation for the artisanal quality and sustainable practices of sungrown cannabis. Scott Vasterling brings his extensive background in health, wellness, and agricultural leadership to discuss how Humboldt Family Farms is pioneering innovations that could reshape the cannabis market. From the early days of the back-to-the-land movement and Prop 215 to the complexities of Prop 64, we explore how sungrown cannabis is being redefined from "outdoor weed" to a premium, craft category.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
Craft Cultivation Insights: The importance of unique strains and genetics in crafting a superior consumer experience. 🧬
Agricultural Branding: Could a unified brand representing small farms be the answer to the commoditization challenge? 🏷️
Policy Impact: How would interstate commerce change the game for West Coast cannabis farmers? 📜
Sustainability in Cannabis: The advantages of traditional farming techniques in today's market. 🚜
🌱 𝗠𝗲𝗲𝘁 𝗦𝗰𝗼𝘁𝘁 𝗩𝗮𝘀𝘁𝗲𝗿𝗹𝗶𝗻𝗴: With a foot in both the corporate world of Johnson & Johnson and the grassroots of Humboldt's farming community, Scott's dual expertise offers rare insights into the intersections of health, wellness, and cannabis cultivation. As Chair of the CA DCC Cannabis Advisory Committee and a staunch advocate for family farms, Scott's leadership is helping to steer the industry towards a more sustainable and equitable future.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is a must for anyone interested in the future of cannabis, the potential of sungrown products, and the stories of those who are leading the way in one of America's most iconic regions for marijuana cultivation. Whether you're an industry veteran, a cannabis connoisseur, or simply curious about the evolution of cannabis markets, join us for a conversation that promises to enlighten and inspire.
Tune into High Spirits this Thursday on LinkedIn Live, where Ben and AnnaR
Tune in to our next episode of 𝗛𝗶𝗴𝗵 𝗦𝗽𝗶𝗿𝗶𝘁𝘀 as we unravel the complexities of receivership and the intricacies of bankruptcy within the cannabis and hemp industries. We're joined by Ted Lanes, the "𝙂𝙧𝙚𝙚𝙣 𝙍𝙚𝙖𝙥𝙚𝙧" of finance, to shed light on what these financial states mean for businesses and creditors alike.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: We delve deep into the financial mechanisms that companies in the cannabis industry often have to navigate, particularly focusing on why traditional bankruptcy isn't an option and how receivership becomes a path many find themselves on. Ted Lanes, a seasoned receiver and financial expert, brings clarity to this often murky topic, discussing everything from the role of a receiver to strategic debt restructuring.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
• Receivership vs. Bankruptcy: Understand the fundamental differences and why bankruptcy isn't available for cannabis companies.
• Role of a Receiver: Explore how receivers are appointed and their responsibilities in managing a company's assets and operations during financial distress.
• Legal and Ethical Considerations: Learn about the legal framework surrounding receiverships and the ethical obligations of receivers.
• Actionable Advice for Vendors and Operators: Practical tips for businesses on both sides of a receivership—how to protect your interests and navigate the process.
🌟 𝗠𝗲𝗲𝘁 𝗧𝗲𝗱 𝗟𝗮𝗻𝗲𝘀: With a wealth of experience spanning over 30 years across various industries, Ted Lanes of Lanes Management Services has become a pivotal figure in managing complex receiverships and financial restructurings. His background includes significant roles such as the interim CFO of MedMen and advisory positions in multimillion-dollar funds, making him a respected authority on financial crisis management.
Dive into a thrilling new episode of 𝗛𝗶𝗴𝗵 𝗦𝗽𝗶𝗿𝗶𝘁𝘀 as we explore the intersection of peak performance in high-stakes environments with Melanie Curtis, a professional skydiver, world record holder, and acclaimed performance coach. Join us as we unravel the parallels between excelling in extreme sports and thriving in the volatile cannabis industry.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: Melanie Curtis brings her unique expertise from thousands of skydives and high-impact coaching sessions to discuss what it takes to achieve peak performance in any field. We'll discuss a wide range of topics from managing change, bravery in decision-making, and the art of leadership in uncertain times to practical advice on stress management, overcoming fear, and maintaining mental clarity amidst chaos.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝑷𝒖𝒔𝒉𝒊𝒏𝒈 𝒕𝒉𝒆 𝑬𝒅𝒈𝒆𝒔: How pushing boundaries in skydiving translates to innovation in cannabis.
𝑬𝒏𝒕𝒓𝒆𝒑𝒓𝒆𝒏𝒆𝒖𝒓𝒔𝒉𝒊𝒑 𝒂𝒏𝒅 𝑩𝒓𝒂𝒗𝒆𝒓𝒚: The courage required to start new ventures and make tough decisions.
𝑯𝒊𝒈𝒉 𝑺𝒕𝒂𝒌𝒆𝒔 𝑴𝒂𝒏𝒂𝒈𝒆𝒎𝒆𝒏𝒕: Strategies for navigating volatility in cannabis.
𝑰𝒏𝒗𝒆𝒔𝒕𝒊𝒏𝒈 𝒊𝒏 𝑶𝒖𝒓𝒔𝒆𝒍𝒗𝒆𝒔: The importance of self-care and continuous learning for sustained high performance.
𝑻𝒆𝒂𝒎𝒘𝒐𝒓𝒌 𝒂𝒏𝒅 𝑻𝒓𝒖𝒔𝒕: Building and maintaining trust within teams to achieve common goals.
𝑶𝒗𝒆𝒓𝒄𝒐𝒎𝒊𝒏𝒈 𝑭𝒆𝒂𝒓: Techniques to conquer fear and harness it to fuel growth and success.
🌟 𝗠𝗲𝗲𝘁 𝗠𝗲𝗹𝗮𝗻𝗶𝗲 𝗖𝘂𝗿𝘁𝗶𝘀: Melanie's life mission goes beyond skydiving. She leverages her experiences to coach individuals and teams on achieving their highest potential, making her a sought-after speaker and consultant. With her vibrant energy and profound insights, Melanie inspires audiences to embrace challenges and transform their lives and workplaces.
📚 Books mentioned in this episode:
-Man's Search For Meaning -The Four Agreements -The Power of Habit -Atomic Habits -No Bad Parts
𝘞𝘦𝘦𝘦𝘦'𝘳𝘳𝘳𝘳𝘳𝘳𝘦𝘦𝘦𝘦 𝘣𝘢𝘢𝘢𝘢𝘢𝘢𝘢𝘤𝘬! Join us for the first episode of the year on 𝙃𝙞𝙜𝙝 𝙎𝙥𝙞𝙧𝙞𝙩𝙨, where we scope out the evolving world of cannabis beverages through the lens of Craig (Lewie) Lewis 🥃🏆, the CEO & Co-Founder of Flyers Cocktail Company. We're kicking off 2025 by diving into the category dominating our minds and the airwaves.
📣 Quick shout out to our title sponsor, KitPrint, the cannabis operator’s production design partner. Use code HIGHSPIRITS when you sign up and get 10% off your first two months. To learn more, go to kitprint.co to book a call with their team.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In this episode, Lewie shares his exhilarating journey from skydiving to shaking up the beverage industry with Flyers Cocktail Company, an award-winning brand that's redefining how we celebrate moments, big and small. We’ll explore the challenges and triumphs of capital raising in the competitive beverage landscape, discuss the strategic moves that have made Flyers one of the most decorated names in the space, and get Lewie's fearless predictions for the industry in 2025.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝘊𝘢𝘱𝘪𝘵𝘢𝘭 𝘙𝘢𝘪𝘴𝘪𝘯𝘨 𝘢𝘯𝘥 𝘔𝘢𝘳𝘬𝘦𝘵 𝘋𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘵𝘪𝘢𝘵𝘪𝘰𝘯: Learn how Flyers has navigated the bustling market of cannabis beverages and stood out from the crowd.
𝘈𝘸𝘢𝘳𝘥-𝘞𝘪𝘯𝘯𝘪𝘯𝘨 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘺: Unpack whether product awards are merely vanity or offer real value to brands in this sector.
𝘋𝘪𝘴𝘵𝘳𝘪𝘣𝘶𝘵𝘰𝘳 𝘙𝘦𝘭𝘢𝘵𝘪𝘰𝘯𝘴𝘩𝘪𝘱𝘴: Discover the importance of supporting distributors and how Flyers Cocktail Co. ensures mutual success.
𝘌𝘮𝘦𝘳𝘨𝘪𝘯𝘨 𝘓𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘐𝘯𝘴𝘪𝘨𝘩𝘵𝘴: Gain insights into Lewie’s leadership philosophy and his approach to steering a leading brand in a rapidly evolving market.
2025 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘗𝘳𝘦𝘥𝘪𝘤𝘵𝘪𝘰𝘯𝘴: Hear what the future may hold for hemp beverages and the broader non-alcoholic segment in the new year.
🌟 𝗠𝗲𝗲𝘁 Craig (Lewie) Lewis 🥃🏆: Not just the CEO of Flyers Cocktail Co., Lewie is a TEDx speaker, avid adventurer, and a visionary in both his professional and personal life. With a background that spans from high-stakes skydiving to high-profile brand activations, Lewie brings a unique blend of excitement and expertise to the cannabis beverage industry.
📅 Catch this high-flying episode of 𝙃𝙞𝙜𝙝 𝙎𝙥𝙞𝙧𝙞𝙩𝙨 this Thursday on LinkedIn Live for an invigorating discussion packed with actionable insights and inspiring stories.
What if the latest moves by a major cannabis company could set off a chain reaction across the entire industry? Unravel the implications of Vireo's strategic transformation under the astute leadership of Tyson McDonald. We dive into the latest maneuvers by Vireo, who is making headlines with a game-changing capital influx and the acquisition of four profitable single-state operators. As we gather at Ben's festive office, we discuss the potential ripple effects of these no-cash deals and speculate whether this could ignite a wave of consolidation reminiscent of past industry-shaking investments.
The cannabis landscape is shifting, and 2024 has been a year of both tumult and triumph. Despite the downfalls of California giants like MedMen and High Times, there's a silver lining as we witness the resilience of companies that have managed to refinance and keep the gears turning. Meanwhile, the rise of cannabis-infused beverages is rewriting the rule book, capturing the attention of consumers and opening new doors in the alcohol market. We explore the exciting possibilities in this burgeoning sector, while also contemplating the ongoing challenges posed by federal hemp policies and potential farm bill delays.
Looking forward to 2025, we are filled with optimism for the hemp beverage industry and its potential to reshape the mainstream market. The conversation turns to the foundational strategies needed to capitalize on these opportunities, emphasizing education, influence, and team alignment. As we nurture a culture of peak performance, we remain committed to fostering authentic collaborations that drive positive outcomes. Join us as we embrace the dedication and passion of our team and partners, and gear up for bold moves that could redefine the competitive landscape in the coming year.
Join us for a special episode of High Spirits, where your hosts Ben & AnnaRae share their experiences and insights from MJBizCon 2024 in Las Vegas. Fresh from hosting the High Spirits Morning Mixer, they're ready to dive deep into the event's highlights, key takeaways, and the future of cannabis trends they witnessed.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? Whether you're a cannabis industry professional who missed the event, or an enthusiast eager to catch up on the latest trends, this episode promises a comprehensive recap with personal flair. Get the scoop on what's next for the cannabis industry from two of its most passionate advocates.
It's been another eventful week in the world of cannabis, and we're excited to talk about it.
In this week's episode, we discuss... 🚨 Minnesota's botched social equity lottery application (read robbery) 🍸 GTI's big bet on beverage through Agrify's acquisition of Señorita 🌿 What the new Senate draft of the Farm Bill means for hemp 💵 Paywalls and supporting your cannabis media and niche news sources
Tune-in to find out, or simply wait for the podcast to air. As always, High Spirits is more than a podcast – it's a dynamic conversation among leaders in the cannabis industry. We film live, and your participation is what makes our discussion richer and more meaningful. We invite you to contribute to the conversation and let us know what's important to you! What topics should we delve into? We welcome your questions and comments, so drop them into the chat and join us as we dive into the current events of the cannabis industry!
Explore the cutting-edge world of cannabis technology with Socrates Rosenfeld, the CEO and co-founder of Jane Technologies. Prepare to be intrigued by the potential shifts in federal cannabis reform as we discuss the surprising nomination of Matt Gaetz for US Attorney General by President-elect Trump. Join AnnaRae Grabstein as she recounts the latest developments in the cannabis industry from the Benzinga Cannabis Market Spotlight and Agrify's strategic acquisition of Señorita, marking a bold entry into the hemp beverage market.
Discover how Jane Technologies is reshaping the cannabis e-commerce landscape like no other. Socrates and AnnaRae (in Ben's absence) dive into the sophisticated digital infrastructure that aligns with consumer needs while keeping service costs low, unlike the pitfalls faced by giants like Uber and DoorDash. We tackle the importance of data standardization, the power of e-commerce automation, and the nuances of personalizing the cannabis shopping experience through Jane's innovative MyHigh initiative. Learn how these technological advancements are not only optimizing retail operations but also enhancing consumer engagement through personalized product recommendations.
Wrapping up, our conversation takes a reflective turn as we consider the evolution of the cannabis industry through various political administrations. We emphasize the resilience of this movement and its continued commitment to expanding access to cannabis. With insights drawn from leading a remote team and fostering innovation, this episode is a tribute to the pioneers who have shaped the industry and a call to stay united in pursuing sustainable growth amid a shifting political landscape. Tune in to embrace the dynamic world of cannabis technology and its promising future.
Kris Walker from Hoodie Analytics joins us to decode cannabis market trends following 4/20, revealing how competing holidays, demographic shifts, and pricing strategies impacted this year's sales performance. Data shows 4/20 sales dipped 12% year-over-year, highlighting the industry's need for smarter decision-making beyond reflexive discounting.
• 4/20 fell on Sunday this year, competing with Easter and Passover celebrations • Retailers spread promotions across the entire week rather than concentrating on a single day • Demographic differences showed younger urban areas maintained stronger 4/20 performance than suburban regions • The 45-54 age demographic (original 4/20 celebrators) saw a 20% drop in participation • Price compression continues to challenge industry profitability despite oversupply opportunities • Retailers can improve profitability by maintaining consistent pricing despite lower wholesale costs • Premium pricing strategies work when brands create emotional connections with consumers • Effective category management helps brands become trusted retail partners • Customer segmentation enables more strategic resource allocation and personalized engagement • Distribution, shelving, merchandising and pricing (DSMP) are the key leading indicators of sales success
Kris Walker is the Co-Founder, President, and Chief Commercial Officer at Hoodie Analytics, where he leads customer acquisition, product strategy, and the delivery of data-driven insights to some of the cannabis industry's top operators. With a career rooted in CPG, retail, and global analytics — including leadership roles at Nielsen and Big Chalk Analytics — Kris brings a wealth of experience in turning data into action. His mission at Hoodie is clear: help brands and retailers make smarter decisions, drive growth, and maximize ROI in one of the most complex consumer landscapes today.
Join Ben and AnnaRae on Thursday for a special post-election recording of High Spirits as we unpack Tuesday's election results, focusing specifically on the presidential race, various state ballot measures related to cannabis, and the broader implications for hemp and cannabis policy. We're thrilled to welcome back Hirsh Jain, one of our industry's brightest policy minds, for an in-depth analysis of what these results might mean for the future of cannabis legalization and regulation.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In this special post-election breakdown, Hirsh Jain from Ananda Strategy will help us navigate through the various state results, including the six cannabis-related ballot measures. We'll explore the potential for federal cannabis legalization in the next four years, the ongoing hemp versus cannabis debate, and the public's current stance on cannabis.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝘗𝘳𝘦𝘴𝘪𝘥𝘦𝘯𝘵𝘪𝘢𝘭 𝘐𝘮𝘱𝘢𝘤𝘵: How the results of the presidential election could influence federal cannabis policy.
𝘚𝘵𝘢𝘵𝘦 𝘉𝘢𝘭𝘭𝘰𝘵 𝘔𝘦𝘢𝘴𝘶𝘳𝘦𝘴: Detailed insights into the six state ballot measures and their implications for local and national cannabis policy.
𝘍𝘶𝘵𝘶𝘳𝘦 𝘗𝘳𝘦𝘥𝘪𝘤𝘵𝘪𝘰𝘯𝘴: Predictions for cannabis legislation in the coming years and potential shifts in public opinion and political strategy.
🌟 𝗠𝗲𝗲𝘁 𝗛𝗶𝗿𝘀𝗵 𝗝𝗮𝗶𝗻: Returning guest Hirsh Jain (𝘴𝘦𝘦 𝘌𝘱. 36 - 𝘊𝘰𝘯𝘴𝘦𝘳𝘷𝘢𝘵𝘪𝘷𝘦 𝘊𝘢𝘯𝘯𝘢𝘣𝘪𝘴: 𝘛𝘩𝘦 𝘙𝘦𝘥 𝘞𝘢𝘷𝘦; 𝘰𝘯𝘦 𝘰𝘧 𝘰𝘶𝘳 𝘮𝘰𝘴𝘵 𝘱𝘰𝘱𝘶𝘭𝘢𝘳 𝘦𝘱𝘪𝘴𝘰𝘥𝘦𝘴) is a leading policy expert and strategic consultant in the cannabis industry. With deep roots in advocacy and policy reform, Hirsh brings a wealth of knowledge and perspective on the intersection of cannabis legislation and industry dynamics.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is a must-listen for anyone interested in the political landscape of cannabis, from industry stakeholders to policy enthusiasts. Get a comprehensive understanding of the election's impact on cannabis policy and what it could mean for consumers and businesses alike.
Join us for this week's recording of 𝗛𝗶𝗴𝗵 𝗦𝗽𝗶𝗿𝗶𝘁𝘀, where we're diving into the intricate world of Wana Brands, North America's leading edibles brand. We're sitting down with Joe Hodas, the recently appointed President of Wana, to discuss the brand's innovative strategies and his journey from Chief Marketing Officer to President.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In this discussion, Joe Hodas shares his experiences and the dynamic shifts within Wana Brands following its acquisition by Canopy Growth Corporation. We'll explore Wana's expansive approach across both cannabis and hemp markets, the inception of their new hemp marketplace, Wanderous, and the differences between the Canadian and U.S. markets.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝘓𝘦𝘢𝘥𝘦𝘳𝘴𝘩𝘪𝘱 𝘛𝘳𝘢𝘯𝘴𝘪𝘵𝘪𝘰𝘯: Insight into Joe's transition from CMO to President and his unique leadership style.
𝘔𝘢𝘳𝘬𝘦𝘵 𝘌𝘹𝘱𝘢𝘯𝘴𝘪𝘰𝘯: The strategy behind Wana's multi-market presence and the launch of the Wanderous marketplace.
𝘈𝘤𝘲𝘶𝘪𝘴𝘪𝘵𝘪𝘰𝘯 𝘐𝘮𝘱𝘢𝘤𝘵: How the acquisition by Canopy Growth has influenced Wana Brands' operations and strategies.
𝘊𝘶𝘭𝘵𝘶𝘳𝘢𝘭 𝘋𝘪𝘧𝘧𝘦𝘳𝘦𝘯𝘤𝘦𝘴: An exploration of the operational and cultural differences between the U.S. and Canadian cannabis markets.
🌟 𝗠𝗲𝗲𝘁 𝗝𝗼𝗲 𝗛𝗼𝗱𝗮𝘀: With a rich background in marketing and strategic leadership across various industries, Joe brings a wealth of experience to his role at Wana Brands. From pioneering marketing initiatives to steering major corporate transitions, Joe's expertise has been pivotal in shaping Wana's market dominance.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is a must-listen for anyone interested in the business of cannabis, from industry insiders to budding entrepreneurs. Learn from one of the leading figures in the cannabis edibles market and gain insights into managing a top brand through significant industry changes.
Tune in to High Spirits this Thursday on LinkedIn Live and join Ben and AnnaRae for an episode packed with valuable insights and expert discussions.
Curious about the exciting world of cannabis beverages and how it's reshaping consumer habits? We sit down with Diana Eberlein, a leading figure in the industry and current president of the Cannabis Beverage Association. Diana shares her journey from cannabis beverage consumer to chair of the Coalition for Adult Beverage Alternatives, shedding light on the strategic moves being made to align with the alcohol industry. With a recent move to Washington DC, Diana is at the forefront of policy advocacy, ensuring that cannabis beverages are both celebrated and understood.
The cannabis beverage landscape is ripe with potential, but not without its hurdles. Diana takes us through the intricacies of marketing and regulation, emphasizing the importance of consumer education to navigate the subtleties of dosage and intoxication levels. As the industry grapples with limited distribution channels, the conversation explores the potential of direct-to-consumer sales, despite the challenges it presents. Drawing comparisons with the alcohol sector, Diana shares valuable insights on collaborative marketing strategies and the nuanced relationship that cannabis beverages have with traditional alcohol products.
Join us on this enlightening journey as Diana reveals the role of passion and community in driving innovation within this niche market. We touch on the collaborative efforts of organizations like the Cannabis Beverage Association and Hemp Beverage Alliance that unite the industry to tackle regulatory challenges. From legislative education to forming strategic coalitions, discover the creative strategies being deployed to integrate low-dose beverages into mainstream consumption and the shared vision driving the industry forward.
Seth Yakatan, a key player and influencer in cannabis finance and M&A, joins us to unravel the financial intricacies of the cannabis industry. Gain invaluable insights as Seth shares his extraordinary journey from health and wellness to becoming a significant figure in raising capital and selling companies within the cannabis sector. Discover how his unique experiences provide a fresh perspective on the challenges and opportunities facing the industry today.
Embark on a journey through the landscape of cannabis finance as we explore the infusion of new talent from traditional sectors like alcohol and tobacco. We discuss the potential integration of hemp beverages into the Texas alcohol supply chain and celebrate the harvest in the Emerald Triangle, highlighting the hard work of cultivators. The conversation shifts to the delicate art of data gathering and pattern recognition, emphasizing the power of transparency and truth-telling amidst the polite façades of venture capital.
Prepare for an insightful discussion on the looming challenges and future consolidation strategies within the cannabis industry. We delve into the structural deficiencies in capital flow and the potential for strategic refinancing as companies face a daunting "debt wall." Despite these hurdles, there's optimism for growth through acquisition amid regulatory changes and market consolidation. Engage with us on LinkedIn to continue this conversation and share your thoughts on the promising future of cannabis.
What if cannabis businesses could harness the power of AI to revolutionize their operations? Join us as we uncover this fascinating intersection and other topics in our first CEO roundtable following the close of Benzinga Chicago with industry leaders Cameron Clarke of Sunderstorm, Michael Murphy of Prelude, Heather Molloy of Speedwell Partners, and your hosts, Ben Larson of Vertosa and AnnaRae Grabsteinf of Wolf Meyer. In a rapidly evolving landscape, they share their strategies for navigating global expansion, leveraging AI in dispensary operations, and crafting investment approaches in a market contending with ongoing federal restrictions. From the excitement of product expansion into new territories to the intricacies of strategic retail partnerships, this discussion offers a front-row seat to the future of cannabis.
As the cannabis market continues to grow, understanding the dynamics between the hemp, illicit, and licensed sectors becomes essential. Our guests dive deep into how legalization is reshaping the industry and the role that hemp, especially in the beverage industry, plays in attracting new consumers. They share insights on predicting market shifts, the importance of strategic foresight, and the surprising growth in unexpected regions like Texas. This conversation emphasizes the need for business flexibility and forward-thinking strategies to stay ahead of regulatory challenges and consumer behavior trends.
What are the unique challenges of operating in a federally illegal market, and how can companies optimize their supply chains despite these hurdles? Discover the answers as we explore the competitive landscape, the role of AI in customer experience enhancement, and the financial complexities of the industry. Our experts discuss software innovations, such as Acumatica, for cost-effective operations and exciting prospects for global partnerships. Listen to this episode for an enlightening look at how cannabis companies can strategically harness technology and policy insights to thrive in this burgeoning sector.
Let's be honest, it's been a solid run of shows this year for two busy CEO's self-producing and coordinating (and writing these descriptions). Travel schedule has definitely ramped back up and we somehow got to the beginning of this week and hadn't really thought about it! So we're falling back to our original inspiration for the show and recording our weekly check-in on all things cannabis business.
This week, we attended hashtag#Meadowlands, David Hua and Meadow's California-famous gathering for cannabis leaders amongst the redwoods in the Emerald Triangle. Ben spoke on Tuesday about ... wait for it ... HEMP BEVERAGES (big surprise), while AnnaRae took to the stage on Wednesday to school us on reinventing one's self, leadership, and business. The whole event was so incredibly beautiful with incredible guests and speakers, as it has for the last 8 years, and should provide plenty of fodder for Thursday's conversation.
𝗜𝗻 𝘁𝗵𝗶𝘀 𝗲𝗽𝗶𝘀𝗼𝗱𝗲, 𝘄𝗲 𝗰𝗼𝘃𝗲𝗿... 🌲 The famed 8th annual Meadowlands event in Mendocino 🍺 Hemp Beverages and their opportunity for unifying the cannabis and hemp movement 🦋 Reinventing oneself, leadership, and business amid shifting sands 🏪 The downfall of Harborside, the most consequential dispensary in cannabis 🚢 The port workers strike and potential impact to supply chains 🧑⚖️ The Trulieve defamation suit against the Amendment 3 opposition
Join us as we recap the weeks events and look towards Benzinga's Cannabis Capital Conference next week!
Jeremy Berke, founder and editor-in-chief of Cultivated Media, joins us this week as our guest co-host. Despite juggling cannabis news coverage and MBA studies, Jeremy takes time out to share his experience and expertise in the space. Jeremy gives listeners an inside look at Cultivated, a daily newsletter dedicated to cannabis industry professionals, detailing how his journey from Business Insider led to his own entrepreneurial venture.
In our deep dive into New York's cannabis market, we uncover the turbulent landscape marked by regulatory chaos and political scandals. With the indictment of Mayor Eric Adams and turmoil within the state's regulatory agency, the rollout of cannabis dispensaries in New York City has faced significant setbacks. However, there's hope on the horizon as we discuss the potential growth of the city's cannabis scene. We also examine Florida's Amendment 3, a heated ballot measure aiming to legalize cannabis, and the intense political dynamics shaping its campaign, including Trulieve's hefty financial investments and conflicting stances within the Republican Party.
Looking ahead, we explore the future of cannabis reform on both federal and state levels. With bipartisan support for rescheduling cannabis to Schedule 3, the upcoming presidential election could play a pivotal role in shaping national cannabis policy. We also scrutinize California's emergency regulations on hemp, which ban detectable THC in products, and discuss the implications for dispensary owners and consumers alike. Wrapping up, we reflect on the long-term potential and current challenges in the cannabis industry, emphasizing the importance of being informed and adaptable in this rapidly evolving landscape. Don't miss out on these crucial insights—stay curious, stay informed, and keep your spirits high.
🌱🎙️ Join Ben & AnnaRae as we saddle up for another deep dive into the Texas cannabis scene. This time, we're exploring the booming hemp market with Benjamin Meggs, CEO of Bayou City Hemp Company and the beverage brand HOWDY . Ben's unique journey from the Oil and Gas industry to hemp cultivation and CBD retail has positioned him as a pivotal figure in shaping Texas's hemp landscape. In this episode, we'll uncover the challenges and opportunities of building a hemp business in the heart of Texas and what it means to extend a Texas-sized welcome across the US.
🤠 𝗪𝗵𝗮𝘁 𝗪𝗲’𝗹𝗹 𝗖𝗼𝘃𝗲𝗿: • 𝘛𝘦𝘹𝘢𝘴 𝘗𝘰𝘭𝘪𝘵𝘪𝘤𝘴 𝘢𝘯𝘥 𝘏𝘦𝘮𝘱: A look into how state policies are influencing the growth and operations of hemp businesses. 🌱 • 𝘉𝘶𝘪𝘭𝘥𝘪𝘯𝘨 𝘢 𝘉𝘳𝘢𝘯𝘥: Learn how Bayou City Hemp crafts its distinctly Texan brands to appeal to markets beyond state lines. 👢 • 𝘔𝘢𝘳𝘬𝘦𝘵 𝘌𝘹𝘱𝘢𝘯𝘴𝘪𝘰𝘯: Strategies for taking local success to a national level with a focus on cultivating brand identity rooted in Texas culture. 🇺🇸
🌟 𝗠𝗲𝗲𝘁 𝗕𝗲𝗻 𝗠𝗲𝗴𝗴𝘀: Ben Meggs brings a wealth of experience from the Oil and Gas sector to the hemp industry, where he has become a pioneer in hemp retail and regulation. As CEO of Bayou City Hemp and Howdy, Ben is at the forefront of the industry’s expansion, driving technical oversight, operations, and ensuring top-quality production. His leadership is guiding his brands to capture the essence of Texas and deliver it to consumers across the country.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is perfect for entrepreneurs, hemp enthusiasts, and anyone interested in the dynamics of regional branding and its impact on national markets. Whether you're a Texan at heart or just curious about the business of hemp, you'll find valuable insights and inspiring stories in our conversation with Ben.
🌿🎙️ Join Ben & AnnaRae this week as we explore the intricate world of cannabis compliance with Michael Johnson, CEO of Metrc. Now synonymous with seed-to-sale tracking, Metrc stands at the forefront of regulatory compliance in the cannabis industry. In this episode, we'll uncover the human element behind the platform, the challenges of balancing diverse stakeholder needs, and the future of cannabis compliance.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: To operators in the cannabis industry, Metrc is the backbone of daily operations and compliance. We'll peel back the layers of this often mistakenly maligned "necessary evil" to understand not just how it works, but who makes it work and why it is the way it is. Michael will share insights into the multi-sided nature of Metrc's business model, its interactions with state regulators, third-party software providers, and the licensed operators who rely on it every day.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
🔎 𝘐𝘯𝘴𝘪𝘥𝘦 𝘔𝘦𝘵𝘳𝘤: Get a closer look at the team and technologies driving this crucial compliance system.
⚖️ 𝘉𝘢𝘭𝘢𝘯𝘤𝘪𝘯𝘨 𝘈𝘤𝘵: Discover how Metrc manages the complex demands of regulators, tech partners, and cannabis businesses.
🌱 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘌𝘷𝘰𝘭𝘶𝘵𝘪𝘰𝘯: Review how compliance has transformed with the cannabis industry over time and where it’s heading.
🔮 𝘍𝘶𝘵𝘶𝘳𝘦 𝘗𝘳𝘦𝘥𝘪𝘤𝘵𝘪𝘰𝘯𝘴: Speculate on future trends in cannabis compliance and technology with insights from the helm of the industry’s leading tracker.
🌟 𝗠𝗲𝗲𝘁 𝗠𝗶𝗰𝗵𝗮𝗲𝗹 𝗝𝗼𝗵𝗻𝘀𝗼𝗻: Appointed as CEO in 2022, Michael Johnson has rapidly steered Metrc toward innovative horizons. With a rich background as CFO at various technology and health firms, Michael brings a unique perspective to the cannabis compliance sector. His approach is not just about monitoring and regulation but fostering an ecosystem that supports safe, sustainable growth in the industry.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is crucial for anyone involved in the cannabis industry, from regulators to entrepreneurs, and even tech enthusiasts curious about the intersection of technology and regulatory compliance. Whether you're grappling with Metrc’s systems or just keen to understand more about the regulatory landscape, this conversation promises to enlighten, inform, and inspire.
Tune in to High Spirits this Thursday on LinkedIn Live for an episode filled with deep insights, behind-the-scenes storie
Join Ben & AnnaRae on High Spirits as we delve into the whirlwind experience of the first 30 days following the launch of a brand new dispensary in New Jersey. Our guest, Tahir Johnson, CEO of Simply Pure Trenton NJ and President of the Minority Cannabis Business Association, shares his firsthand insights and the roller-coaster ride of opening one of the first Black-owned social-equity cannabis businesses in the state.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In this episode, we explore the exhilarating first month of operations after years of preparation at Simply Pure Trenton. From regulatory hurdles to customer reactions and operational challenges, Tahir will dissect what it takes to launch and stabilize a new dispensary in an emerging market. Drawing from his extensive background in cannabis advocacy and business, Tahir reflects on the reality of starting a dispensary under New Jersey's adult-use cannabis framework and the personal journey that brought him to this point.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
🚧 𝘐𝘯𝘪𝘵𝘪𝘢𝘭 𝘊𝘩𝘢𝘭𝘭𝘦𝘯𝘨𝘦𝘴: Discover the unexpected hurdles and how they were navigated during the critical first month.
💡 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘐𝘯𝘴𝘪𝘨𝘩𝘵𝘴: Gain insights into the strategic planning and adaptations required when reality hits post-launch.
💥 𝘚𝘰𝘤𝘪𝘢𝘭 𝘌𝘲𝘶𝘪𝘵𝘺 𝘐𝘮𝘱𝘢𝘤𝘵: Understand the significance of launching one of the first Black-owned equity businesses in New Jersey’s cannabis market.
🌎 𝘉𝘳𝘰𝘢𝘥𝘦𝘳 𝘐𝘮𝘱𝘭𝘪𝘤𝘢𝘵𝘪𝘰𝘯𝘴: Discuss the broader implications for other entrepreneurs in similar markets drawing from Tahir's role as MCBA President.
🌟 𝗠𝗲𝗲𝘁 𝗧𝗮𝗵𝗶𝗿 𝗝𝗼𝗵𝗻𝘀𝗼𝗻: Tahir's journey in the cannabis industry is both personal and professional. With a history marked by advocacy and a personal narrative intertwined with the criminal justice system, his work extends beyond business, aiming to rectify the long-term impacts of the war on drugs. His leadership roles have equipped him with unique insights into the intersections of policy, social equity, and industry dynamics, making him a pivotal figure in shaping the future of cannabis in New Jersey and beyond.
Don’t miss this insightful discussion on what it really takes to launch and run a cannabis dispensary in a complex regulatory landscape. Tune in to High Spirits on Thursday for a session filled with real stories, professional insights, and valuable lessons.
Mitchell Osak, veteran cannabis consultant and founder of Cannabis Management Review, joins us to share insights on navigating the complex cannabis business landscape and finding success through fundamental business principles.
• Hemp and cannabis policy debates highlight the challenges of finding middle ground in an increasingly polarized environment • Cannabis business dynamics parallel historical precedents from Renaissance trading states to modern boom-bust cycles • Companies that focus on core fundamentals like capital efficiency and operational excellence are weathering industry challenges best • Successful cannabis leaders like Mike DiGiulio (Village Farms) and Zach George (SNDL) demonstrate the value of understanding your business and strong governance • Execution matters more than strategy in today's competitive cannabis market • Pricing strategy remains a critical challenge with many companies trapped in a race-to-the-bottom dynamic • Corporate culture suffers when profitability remains elusive • The global cannabis market offers promising alternative models to North American approaches
Be brave. This industry is getting harder before it gets better, but when it improves, it will be amazing. Look at cannabis through clear eyes without rose-colored glasses as it becomes a real industry requiring real business fundamentals.
Could the fragmented cannabis market in Latin America be the next big thing for savvy investors? Join us as we uncover the secrets of this untapped market with our special guest, Javier Hasse, the Managing Director at Benzinga and founder of El Planteo. In this episode, Javier shares his unique insights into the challenges and opportunities that exist within various Latin American countries, detailing how cultural acceptance and patient advocacy are reshaping the industry. With his extensive experience and a bestselling book on starting a cannabis business, Javier offers a wealth of knowledge you won't find anywhere else.
We also take a closer look at the essential role of cannabis conferences and how they serve as pivotal networking hubs. Hear firsthand stories about multi-billion-dollar deals and significant investments that have emerged from Benzinga's curated events. From the perspective of our hosts, we discuss the balance between professional travel and personal life, especially during the bustling conference season. With exclusive anecdotes, we highlight the distinct advantages of smaller, focused gatherings in fostering meaningful connections among industry professionals, investors, and businesses.
Lastly, we turn our attention to the latest trends and hurdles in the cannabis sector. Discover why THC-infused beverages are gaining traction and how brands like Cann are navigating the complex California market. We also tackle the recent delays in cannabis rescheduling decisions, evaluating the implications for investors and the broader industry. Despite the setbacks, there's a strong sense of progress and optimism as we explore the future of cannabis regulation. Tune in for a compelling discussion that spans from policy shifts to emerging market opportunities, providing a comprehensive view of the dynamic cannabis landscape.
Imagine launching your first business at just 13 years old. That's precisely what our special guest, Aaron Nosbisch, did, and his entrepreneurial spirit has only grown since. Aaron, now the founder and CEO of Breeze and Lucyd Media, joins us from an airport en route to Burning Man to share his incredible journey. From his early days in the fashion world to the intricate landscape of cannabis and hemp marketing, Aaron brings a wealth of knowledge and some really creative strategies.
Our conversation doesn't stop at marketing tactics. We dive deep into the importance of transparency and community engagement in building a brand, inspired by industry leaders. Aaron discusses the substantial investments—nearly a million dollars monthly—necessary for driving brand awareness and growth. By focusing on the value of sharing a brand's story publicly, we explore how a cooperative approach over competition can foster innovation and elevate the industry as a whole.
Navigating from direct-to-consumer to retail sales strategies, we examine the operational and marketing nuances essential for scaling a beverage startup. From customer acquisition costs to lifetime value, Aaron shares the metrics that drive real-time advertising decisions. We also discuss the complexities of cannabis legalization in Florida, emphasizing the need for equity and fair access to the market. As we wrap up, we express our anticipation for upcoming events like Benzinga in October and the High Spirits Morning Mixer in Vegas for MJBiz, ensuring you stay connected and informed.
Join Ben and AnnaRae this week on High Spirits as we delve deep into Georgia’s newly launched cannabis program with Judson Hill, the Georgia Market President for Fine Fettle, one of the state’s six licensed operators. This episode will explore the current landscape of cannabis in Georgia, the emerging dynamics between cannabis and hemp, and what the future holds for patients and consumers in the state.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: Georgia’s medical cannabis market is just sprouting, presenting unique opportunities and challenges. Judson Hill brings his insider perspective on navigating this nascent industry, from the legislative battles to the operational hurdles. We'll discuss the size, functionality, and potential growth of the market, and how Fine Fettle is positioning itself to serve Georgia's patient community.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝘔𝘢𝘳𝘬𝘦𝘵 𝘖𝘷𝘦𝘳𝘷𝘪𝘦𝘸: Insight into the current state of Georgia's cannabis program and its future trajectory.
𝘊𝘢𝘯𝘯𝘢𝘣𝘪𝘴 𝘷𝘴. 𝘏𝘦𝘮𝘱: Discussion on the interplay and competition between the cannabis and hemp markets in Georgia.
𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘐𝘯𝘪𝘵𝘪𝘢𝘵𝘪𝘷𝘦𝘴: Learn about Fine Fettle's approach to lobbying, education, and market differentiation in a state with a complex regulatory landscape.
🌟 𝗠𝗲𝗲𝘁 𝗝𝘂𝗱𝘀𝗼𝗻 𝗛𝗶𝗹𝗹: A native Atlantan and forward-thinking leader, Judson Hill is at the forefront of introducing medical cannabis to Georgia. With a background in fundraising and developing sales organizations across various industries, Judson now focuses on lobbying, government affairs, and educating Georgians about the benefits of medical cannabis. His work is pivotal in shaping a responsible and patient-centered cannabis market in his home state.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is a must-listen for anyone interested in the evolving cannabis industry, particularly in states with new or expanding programs. Whether you’re a patient, provider, industry stakeholder, or simply a curious listener, Judson’s experiences and insights offer a comprehensive look at what it takes to launch and lead a cannabis operation under complex regulatory conditions.
It's been another eventful week in the world of cannabis, and we're excited to talk about it. Here's some of the topics that are top of mind:
🇺🇸 Kamala taps Gov. Tim Walz of MN as her running mate 🌰 Ohio launches adult use sales ❌ Missouri bans Delta 8 and unlicensed retailers 📈 Q2 earnings are out and companies are refinancing their debt ➕ More!
As always, High Spirits is more than a podcast – it's a dynamic conversation among leaders in the cannabis industry. We film live, and your participation is what makes our discussion richer and more meaningful. We invite you to contribute to the conversation and let us know what's important to you! What topics should we delve into? We welcome your questions and comments, so drop them into the chat and join us as we dive into the current events of the cannabis industry!
Join Ben and AnnaRae this week on High Spirits as we delve into the potential impacts of Kamala Harris' leadership on the cannabis industry and criminal justice reform. With President Biden stepping aside, Kamala Harris' role could become pivotal in shaping the future policies that would significantly affect both the cannabis industry and ongoing criminal justice reform efforts.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: As we navigate these changing political tides, our guest, Jason Ortiz, Director of Strategic Initiatives at the Last Prisoner Project, brings a deeply personal and professional perspective to the discussion. We'll revisit Kamala Harris' stance during the 2020 campaign, examine the current state of criminal justice reform, and speculate on how Harris might influence future policies related to cannabis.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝘒𝘢𝘮𝘢𝘭𝘢’𝘴 𝘐𝘮𝘱𝘢𝘤𝘵: Explore what Kamala Harris' leadership could mean for future cannabis policies and criminal justice reform.
𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘢𝘯𝘥 𝘙𝘦𝘧𝘰𝘳𝘮: Gain insight into the intersection of cannabis legalization and criminal justice, particularly how federal and state levels are taking action (or inaction).
𝘈𝘥𝘷𝘰𝘤𝘢𝘤𝘺 𝘢𝘯𝘥 𝘈𝘤𝘵𝘪𝘰𝘯: Learn from Jason’s extensive experience in advocating for cannabis justice and how grassroots movements can influence significant policy changes.
🌟 𝗠𝗲𝗲𝘁 𝗝𝗮𝘀𝗼𝗻 𝗢𝗿𝘁𝗶𝘇: Jason Ortiz, a cannabis justice advocate, has turned personal adversity into a platform for change. From being arrested at 16 for simple cannabis possession to leading strategic initiatives for the Last Prisoner Project, Jason's journey is a testament to the power of advocacy and determination. His work with the Minority Cannabis Business Association and as a drafter of key legislation in Connecticut showcases his impact on creating equitable cannabis policies.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is crucial for anyone interested in the future of cannabis regulation, the dynamics of political leadership on social issues, and the ongoing efforts to reform criminal justice. Jason’s insights provide a unique look at the challenges and opportunities within the advocacy landscape, making this a must-listen for activists, policymakers, and anyone interested in the intersection of cannabis and justice.
Tune in to High Spirits every Thursday, live on LinkedIn, and join the conversation!
Join Ben and AnnaRae on High Spirits for a lively discussion with Nico Richardson, CEO of Texas Original (fka Compassionate Cultivation), the leading medical marijuana and cannabis dispensary in Texas. This episode delves into the complex landscape of hemp and cannabis in the Lone Star State, exploring the regulatory, economic, and societal challenges that shape this rapidly evolving market.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: Texas is at a crossroads with its hemp and cannabis policies, creating a dynamic battleground for legislation and public opinion. Nico Richardson will share his firsthand experiences and insights into the challenges faced by the cannabis industry in Texas, where subtle differences between hemp and cannabis under the law can have significant implications. We'll discuss the ongoing lobbying efforts, the current state of affairs at the Texas Capitol, and what the future holds for both markets in one of America's most conservative states.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
𝘕𝘢𝘷𝘪𝘨𝘢𝘵𝘪𝘯𝘨 𝘋𝘶𝘢𝘭 𝘔𝘢𝘳𝘬𝘦𝘵𝘴 🧭: Understand the key differences and challenges between the hemp and cannabis industries in Texas.
𝘓𝘰𝘣𝘣𝘺𝘪𝘯𝘨 𝘌𝘧𝘧𝘰𝘳𝘵𝘴 🗳️: Hear about the intense lobbying on both sides of the hemp vs. cannabis debate and its potential impacts on future legislation.
𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘐𝘯𝘴𝘪𝘨𝘩𝘵𝘴 👀: Gain insights from the perspective of Texas’s largest medical cannabis operator on how these issues affect business operations and patient access.
𝘍𝘶𝘵𝘶𝘳𝘦 𝘗𝘳𝘰𝘴𝘱𝘦𝘤𝘵𝘴 🔮: Explore the possible outcomes of this heated debate and what it means for the broader cannabis industry in Texas.
🌟 𝗠𝗲𝗲𝘁 𝗡𝗶𝗰𝗼 𝗥𝗶𝗰𝗵𝗮𝗿𝗱𝘀𝗼𝗻: Nico Richardson is a seasoned leader and advocate in the cannabis industry, with extensive experience navigating the complex regulatory environments of conservative markets. As CEO of Texas Original, Nico has been at the forefront of efforts to expand patient access to medical cannabis while advocating for sensible cannabis reforms in Texas. His deep understanding of the political and business landscapes makes him a pivotal figure in the ongoing discussions about cannabis policy in the state.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is essential for anyone interested in the intersection of cannabis and hemp, especially in a state as pivotal as Texas. Whether you're a cannabis entrepreneur, policy maker, patient advocate, or curious about the evolving legal landscape, Nico’s insights offer a valuable perspective on the complexities of operating in a restrictive market
Join us this week as we sit down with Amy Deneson, the Executive Director and Co-Founder of the Cannabis Media Council (CMC), to explore the pivotal role of this groundbreaking organization in reshaping public perception and media narratives around cannabis.
🚀 𝗔𝗯𝗼𝘂𝘁 𝗧𝗵𝗶𝘀 𝗘𝗽𝗶𝘀𝗼𝗱𝗲: In an era where cannabis is becoming part of mainstream conversation yet still battles against decades of stigma, the need for informed and ethical advertising is more critical than ever. The CMC aims to fill this gap by partnering with major media outlets, such as Hearst, to drive ethical mainstream acceptance of cannabis. This episode delves into the CMC’s commitments to disciplined, fact-based advertising and their mission to advocate for mainstream awareness through powerful, people-centered campaigns.
💡 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂'𝗹𝗹 𝗟𝗲𝗮𝗿𝗻:
🔮 𝘊𝘔𝘊’𝘴 𝘔𝘪𝘴𝘴𝘪𝘰𝘯 𝘢𝘯𝘥 𝘝𝘪𝘴𝘪𝘰𝘯: Discover the core objectives of the Cannabis Media Council and how they plan to transform cannabis advertising.
🔭 𝘚𝘵𝘳𝘢𝘵𝘦𝘨𝘪𝘤 𝘈𝘥𝘷𝘦𝘳𝘵𝘪𝘴𝘪𝘯𝘨: Understand the strategies Amy and her team are employing to navigate the complex media landscape and promote positive cannabis experiences.
🔗 𝘉𝘳𝘦𝘢𝘬𝘪𝘯𝘨 𝘉𝘢𝘳𝘳𝘪𝘦𝘳𝘴: Explore how the CMC is working to end media moratoriums and establish guidelines that foster media accountability and expansion.
📢 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺 𝘈𝘥𝘷𝘰𝘤𝘢𝘤𝘺: Learn about the national campaigns the CMC is running to normalize cannabis consumption and educate the public on its benefits.
🌟 𝗠𝗲𝗲𝘁 𝗔𝗺𝘆 𝗗𝗲𝗻𝗲𝘀𝗼𝗻: Amy Deneson is a dynamic leader and a veteran in the fields of advertising, technology, and social impact. As the co-founder of Pheno Collective and the Cannabis Media Council, Amy combines her extensive marketing expertise with a profound commitment to social justice and education in the cannabis industry. Her work is driven by a desire to challenge the status quo and promote inclusive, community-oriented business practices at scale.
📅 𝗪𝗵𝘆 𝗧𝘂𝗻𝗲 𝗜𝗻? This episode is a must-listen for anyone interested in cannabis advocacy, marketing professionals, and entrepreneurs looking for insights into effective communication strategies within the industry. Amy’s unique perspective on advertising and her strategic approach to media relations provide invaluable lessons on driving change and fostering acceptance.
How might the Supreme Court's recent decisions reshape the cannabis industry as we know it? This episode of High Spirits promises to answer that and more.
We dive deep into the pivotal topic of the Chevron ruling and its sweeping consequences for the cannabis sector, especially with Schedule III reclassification on the horizon. Leah Heise, a renowned legal expert in government enforcement, joins us to break down the complexities. Together, we explore the historical context of Chevron deference, the Supreme Court's shift in reducing it, and what this means for cannabis businesses navigating an increasingly uncertain regulatory landscape.
As we delve deeper, we tackle the controversial 280E tax code, its potential unconstitutionality, and the implications for cannabis businesses. From the future of the Farm Bill to the evolving state-level regulations and the current conservative push against big government, we cover it all.
We wrap up by reflecting on the legal challenges and strategies within the industry, while sincerely thanking our listeners for their unwavering support. We're excited to continue this journey with you for the next 50 episodes and beyond!
Unlock the secrets of effective THC distribution and brand presence in our latest episode! We start by breaking down the most recent developments in the cannabis industry, including a GOP congressional panel's controversial attempt to block marijuana rescheduling and Tennessee's strict ban on Delta-8. We'll also discuss Walgreens' bold decision to stock CBD products and the FDA's looming decision on Juul vaping products. Joining us is Scott O'Malley, CEO of the Clarity Company, who offers unparalleled insights into the burgeoning hemp-infused beverage market, sharing the company's growth story, distribution hurdles, and team-building strategies.
Discover the art of building a powerful brand presence through meticulous distribution strategies. Our discussion includes the importance of strong relationships with distribution managers and marketplace representatives and how consumer research fuels our marketing decisions. Learn about the pivotal role of educating retailers on product differentiation and implementing marketing programs designed to boost sales. We'll also delve into the collaborative planning needed to forge effective long-term strategies, ensuring success in a constantly evolving market.
Finally, we tackle the complexities of state-specific THC distribution strategies and the promising future of THC beverages as alcohol alternatives. Scott sheds light on navigating different distribution models, evaluating partners, and the medicinal benefits of THC drinks. Hear about the unique regulatory landscape, including Minnesota's proactive legislative fixes and Iowa's peculiar serving laws. Wrap up with an engaging Q&A session, where we express our gratitude for your continued support and share an exciting moment that underscores the growing influence of our show. Stay curious, stay informed, and keep your spirits high until the next episode!
🎙 Join us for another 𝐂𝐚𝐧𝐧𝐚𝐛𝐢𝐬 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐍𝐞𝐰𝐬 𝐑𝐨𝐮𝐧𝐝-𝐮𝐩 🌿
In one of those rare occasions we find Ben and AnnaRae in one place at the same time, at the Vertosa HQ, before AnnaRae jets off on her next trip, we have much to catch-up on!
🍺 California: Vape Gate Part Deux? 👮 Maryland: Historic pardoning of 175,000 cannabis convictions ☀️ Florida: The Cannabist exits the Sunshine State ❌ 𝗣𝗼𝗹𝗶𝗰𝘆 𝗨𝗽𝗱𝗮𝘁𝗲: All things hemp, cannabis, and Farm Bill ➕ Oh, and HAPPY FIRST BIRTHDAY TO US!!! (belated...oops)
As always, High Spirits is more than a podcast – it's a dynamic conversation among leaders in the cannabis industry. We film live, and your participation is what makes our discussion richer and more meaningful. We invite you to contribute to the conversation and let us know what's important to you! What topics should we delve into? We welcome your questions and comments, so drop them into the chat and join us as we dive into the current events of the cannabis industry!
Dave Daly, founder of Grav Labs, shares his 20-year journey from creating the original Gravitron in his parents' garage to building an iconic cannabis accessories brand that's now expanding into THC beverages.
• Building a differentiated product with the original all-glass gravity bong in 2004 • Growing through innovation when a simple taster product helped save the company from debt • Navigating the evolution from a single-product company to a full accessories line • Making the transition from founder-CEO to bringing on a 50-50 partner • Creating legal agreements that discourage litigation through requiring neutral arbitration • Expanding into new categories with a glass-bottled THC beverage that "tastes and feels like you smoked weed" • Developing distribution strategies through existing smoke shop channels while exploring liquor store opportunities • Bringing valuable product expertise to the board of a public cannabis company • Dealing with supply chain challenges from the recent US-China tariff increases
Visit grav.com to try the new Grav cannabis spirit beverage, a full spectrum product that captures the authentic cannabis experience.
Curious about cannabis investment? Join us as we uncover the dynamic world of cannabinoid capital with Heather Molloy. Our adventure begins with a deep dive into the evolving regulatory landscape and its transformative impact on the industry.
We then transition to the challenges and triumphs of managing a first-time cannabis-focused investment fund. Initially supported by a single family, Speedwell has successfully invested in promising companies like Garden Society, Terpene Belt Farms, and more. Heather shares her expertise on navigating regulatory changes and leveraging data for success, while also exploring the fascinating interplay between cannabis and crypto markets. Get ready for an in-depth look at the diverse opportunities within the cannabis sector, from data services to brand scalability.
Finally, we tackle the complex world of cannabis investments, emphasizing the importance of high-risk tolerance and a long-term perspective. Discover the critical issues surrounding safe banking, especially for women and minority business owners, and understand the broader implications of the SAFE Banking Act. We also explore the potential within the tobacco, beverage, and multi-state operator sectors, shedding light on strategic moves and the importance of strong management. Tune in to understand how grassroots investment movements can shape the future of the cannabis industry.
We kick off with insights from CANNRA, a thrilling event where regulators and industry leaders unite to tackle the pressing challenges in cannabis and hemp regulation. Hear firsthand accounts from AnnaRae and Ben about the local market dynamics and the need for robust legislation to steer the industry toward a prosperous future.
This episode features the inspiring Wendy Berger, a board member at Green Thumb Industries (GTI) and an ardent supporter of women entrepreneurs. Wendy shares her remarkable journey from CEO to investor, to a pivotal role at GTI, revealing how her passion for plant-based medicine led to a transformative partnership with Ben Kovler. We delve into the complexities of board accountability, compensation, and the indispensable role of risk management in an industry fraught with uncertainty and rapid evolution.
Our discussion highlights the significance of diverse board representation, backed by compelling data from S&P and Harvard studies. Wendy sheds light on GTI's strategic recruitment efforts, including the addition of high-profile and diverse voices to their board. We also explore the burgeoning relationship between the cannabis and alcohol industries and discuss innovative strategies employed by companies like GTI to maintain a competitive edge. Tune in for a comprehensive insights-packed episode that promises to broaden your understanding of the cannabis industry's board dynamics and regulatory landscape.
Prepare to unlock the secrets of California's cannabis retail market with our special guest, Lauren Carpenter, CEO and co-founder of Embarc. Through her unique journey from MedMen to SweetFlower to leading Embarc, Lauren offers unparalleled insights into the bustling hubs of Los Angeles and Oakland, as well as the challenges and opportunities of opening and operating in more restrictive areas. Plus, catch-up with AnnaRae and Ben on recent conversations around Europe, a potential new book club inspired by the book "The Five Dysfunctions of a Team," complete with Ben's new ... workout routine?
We dissect the shifting dynamics in cannabis licensing, comparing specialization and vertical integration, and share the compelling story of opening the first Embarc store in South Lake Tahoe during the pandemic. Expanding to 15 stores across California wasn't easy, and we reveal the strategic decision-making and rapid execution essential for success. Lauren's background in government affairs plays a crucial role in Embarc's approach to competitive licensing and community engagement, underscoring the importance of recognizing cannabis's historical presence in diverse communities.
Explore the industry's complexities, from navigating saturated markets and varying regional policies to building a resilient company culture and selecting the right brands. Lauren and the crew delves into the importance of customer loyalty programs, managing growth, and upskilling team members to maintain a personalized touch amidst expansion. Finally, we reflect on the ongoing investment in culture and personal growth, sharing what it takes to thrive as a first-time CEO in the evolving cannabis landscape. Join us for a masterclass in cannabis retail, packed with actionable insights and real-world experiences.
Unlock the complexity of hemp legislation's ever-changing landscape with the help of Michelle Bodian from Vicente LLP, who joins hosts AnnaRae and Ben in their exploration of new Farm Bill language and state level policy. In this whirlwind of an episode, we analyze the seismic shifts rocking the hemp industry. Brace yourself for a ride through the eye of a legislative storm, with our guest's seasoned insights guiding us through the implications for everyone from small farmers to bold investors.
After a controversial amendment to the Farm Bill was introduced by Rep. Mary Miller (R-IL), listen in as we dissect the complex beast that is lawmaking in the hemp space. The hemp & cannabis community is splitting and aligning in fascinating ways, and we're here to chart the political and economic fault lines. From the Mary Miller Amendment's potential impact to the future of synthetic cannabinoids and THC regulation, we're pulling back the curtain to reveal what's at stake for the industry's players.
Finally, step into the compliance quandary faced by national hemp brands as they navigate the labyrinth of state regulations. We opine over the strategic moves necessary to thrive in markets from Kentucky to Minnesota, where the regulatory terrain is as diverse as the products on the shelves. With enforcement actions sprouting up like weeds and FDA warning letters scarce, this episode is your map to the unpredictable terrain of the hemp industry's regulatory battlefield.
Discover the future of the cannabis industry through the eyes of Ian Dominguez from Delta Emerald Ventures. From the perplexing world of PPP loans to the seismic shift anticipated with Biden's Schedule 3 announcement, this episode is a journey through the current state of the cannabis industry. We're not just talking politics; we're breaking down investment strategies, consumer trends, and the hemp beverage boom that's got even the big players like Curaleaf taking a sip.
As we wrap this episode, a heartfelt nod goes out to NCIA and their Annual Lobby Days that was happening this week and the tireless advocates shaping the landscape for safe cannabinoid use. We're raising a glass to the collaborations that fuel progress and the relentless curiosity that keeps us all on our toes. So join us, be part of the dialogue, and let's navigate the highs and lows of the cannabis industry together.
Chris Jackson of the Michigan Legislative Black Caucus joins us to shed light on the fascinating and, at times, tumultuous world of the cannabis industry. Amid the buzz of finance and policy, we zero in on the unexpected resilience of smaller cannabis firms against their behemoth counterparts. The wide-reaching implications of shifts in policy influence and industry reform are at the forefront of our discussion, offering a glimpse into the current maze of the cannabis business landscape.
Venturing into the Michigan market, we discuss the ironic twists of the free economy as it relates to cannabis, where saturation and consumer preferences are major players. With insights into the craft cannabis wave and the impact of safe banking and rescheduling, we uncover parallels with Michigan's thriving brewery scene and the strategies emerging for businesses navigating these waters without vast financial resources. This segment dives into the nitty-gritty of market trends, the importance of creative partnerships, and the pressing need for systemic reform.
Wrapping up the episode, we highlight the significance of industry representation in government and the ongoing battle for equity within the cannabis sector. As the NCIA Lobby Days approach, we underscore the value of these engagements for educating Congress and furthering policy. We also contemplate the necessity for personal growth and community development within the industry, to cultivate progress and maintain unity in the face of potential fragmentation. Join us for this thought-provoking exploration into the complexities of advocating for a robust and equitable future in the realm of cannabis.
Celebrate with us as we pop the cork on High Spirits' 41st episode and our brand new look, toasting to a groundbreaking shift in cannabis policy reform. Ben and AnnaRae guide us through the DEA's landmark decision to reschedule cannabis. You won't want to miss the insights gained from the recent draft of the Farm Bill and the vital discussions on the Senate's latest legalization bill. Let's raise our glasses to the trailblazers and the continuing support of our vibrant listener community - the heartbeat of our podcast's success.
As we venture into the world of hemp and cannabis, we spotlight the growth spurts and roadblocks following the 2018 Farm Bill and what the newest draft means. Witness how hemp continues to fragment, akin to cannabis, like Georgia's vertically integrated program and California's AB2223 are reshaping the hemp industry, creating opportunities as well as regulatory headaches. We peel back the layers on AB 2223's attempt to streamline the chaos in CA, all while keeping an ear to the ground for the scientific insights shaping tomorrow's policies. Together, let's navigate the shifting tides of cannabis policy across the US, understanding the challenges and embracing the potential of this green revolution.
Embark on a journey into the heart of cannabis brand expansion with us, Ben Larson and AnnaRae Grabstein, as we unravel the story of Kiva's bold foray beyond the Golden State. With the guidance of Colin Keeler from Kiva, we dissect the intricacies of spreading a rooted brand into new markets and the fresh challenges of the burgeoning hemp sector. Tune in and gain insight into the strategic partnerships and carefully curated product suites that have propelled Kiva's presence from California to the national stage, ensuring they remain a household name in an industry that's as varied as it is regulated.
Our conversation traverses the unpredictable terrain of the hemp marketplace, where rapid legislative changes and consumer preferences demand agility and foresight. Relive the moment Minnesota unexpectedly legalized hemp, revealing the impact of swift policy shifts on the industry. Discover how Kiva navigates these waters with a commitment to safety and consistency, setting a benchmark in child-resistant packaging and meticulous product testing. You'll be equipped with a deeper understanding of the complexities Kiva faces, from maintaining brand integrity to innovating within the confines of diverse state laws.
As we gaze into the crystal ball of cannabis and hemp's future, we illuminate the regions ripe for explosive growth, with a nod to the Northeast's untapped potential. Reflect on how the cutthroat California market has sharpened Kiva's edge for success in states like Massachusetts, New York, and the eagerly anticipated markets of New Jersey and Pennsylvania. We close our session with a note of gratitude and a call for shared wisdom, inviting you to stay engaged, enlightened, and elevated with High Spirits as we navigate the evergreen adventure of cannabis entrepreneurship.
Experience the fusion of cannabis culture and community as AnnaRae and Ben engage with Joyce Cenali, COO of Sonoma Hills Farm and Big Rock, in a deep-rooted discussion on the nuances of California craft cannabis. We traverse Joyce's fascinating journey from growing for personal use, to deploying capital through Big Rock, and back to the fields of farming, uncovering the organic movement's influence on cannabis and the unique terroir that sets California apart. Unpacking the hustle of event season, we reveal how community ties and personal stories shape the industry, lending insight into the symbiotic relationship that exists between the growers, the land, and the consumers who cherish their craft.
Venture behind the scenes of cannabis cultivation with us, as we navigate the complexities of California's OCal program and how it's elevating standards for sun-grown, organic cannabis. As regulations evolve, we consider the future of cannabis branding in the wake of potential scheduling shifts and the delicate balance of cultivating both hemp and regulated cannabis. Our conversation opens up a world of possibilities, from the promise of full-spectrum hemp products to the agricultural innovations waiting on the horizon—each poised to redefine wellness and efficacy in the industry.
Finally, sip and savor the cross-pollination of cannabis with the hospitality realm, where chefs and creators push boundaries despite stringent regulations. We highlight successful partnerships that have birthed cannabis-infused culinary sensations, creating a ripple effect across high-end dining and community interaction. Amidst these culinary adventures, we also spotlight the Cannabis Media Council's mission to reshape the public narrative of cannabis, aiming for normalization and fair representation within mainstream media, and ultimately, the hope for a Super Bowl moment that celebrates the plant in all its glory. Join us on this explorative episode where agriculture meets branding, and community converges with the culinary arts.
Unlock the secret to thriving in the cannabis industry through the power of ESOPs, without getting tangled in the tax web of 280E. Ben Larson and AnnaRae Grabstein, with the acumen of Darren Gleeman, bring you a timely tax season symphony that harmonizes the potential of Employee Stock Ownership Plans with the cannabis sector's unique challenges. As we navigate the vibrant landscape ranging from solar eclipses to surges in beverage trends, our conversation turns to the strategic utilization of ESOPs, not just as a financial tool but as a beacon of bipartisan agreement.
Imagine a scenario where employees morph into owners, engaging in the wealth creation dance without the usual fiscal footwork, thanks to the ESOP's deft choreography. We'll walk you through the financial scaffolding and intricate steps that could let your accountant take a well-deserved bow. From seller notes to borrowing terms that sing, we’ll orchestrate the complex score of ESOPs, making it as comprehensible as it is compelling. Our guest Darren Gleeman illuminates the path that cannabis businesses can follow to turn this intricate melody into a harmonious reality.
Finally, feel the pulse of why ESOPs garner nods from Bernie Sanders to Mitch McConnell. As we unwrap this ownership model, we highlight its role as a catalyst for reinvestment and evolution, revealing when venture capital may steal the spotlight instead. Whether you're an employee with big dreams or a business owner plotting your next move, this episode is your backstage pass to mastering ESOPs in the cannabis sector's ever-evolving fiscal opera.
The world of cannabis isn't isolated from global economic shifts—it's deeply embedded in them. When the Trump administration announced sweeping new tariffs against major trading partners, from China to Canada, few analysts considered how these protectionist measures would impact an industry that's already entirely domestic by legal necessity.
In this deep-diving conversation, Ben and Anna Rae unpack the paradox at the heart of cannabis economics: an industry that already achieves the "domestic manufacturing" goal that tariffs supposedly promote, yet still struggles with profitability and scale. The new trade war creates a perfect storm of upward pressure on manufacturing costs while simultaneously dampening consumer confidence and purchasing power.
The ripple effects of these tariffs expose fundamental tensions in the cannabis industry. Labor costs will rise while consumers become more price-conscious. Smaller craft operations will face greater challenges than larger, more efficiently scaled businesses, likely accelerating consolidation. Value products will gain market share as premium offerings struggle to justify higher price points to budget-conscious consumers.
Most importantly, this economic moment highlights the urgent need for regulatory convergence between hemp and cannabis frameworks and the breaking down of state barriers to create true economies of scale. As the hosts note, "If you're in the business of strengthening or building walls, you might be on the wrong side of history."
Whether you're an industry operator navigating these challenging waters or simply curious about how global economic policies affect niche markets, this episode provides critical context for understanding cannabis as both a product category and a business ecosystem. The path forward requires both responding to immediate economic pressures and advocating for sensible policy reform that centers consumer needs while allowing businesses to operate efficiently.
Ready to join the conversation about the future of cannabis in this changing economic landscape? Listen now and discover why smart industry leaders are thinking globally while acting locally.
Discover the seismic shifts in the hemp THC retail sphere and the implications of a national market in our latest deep dive with David Gonzalez. As Total Wine and DoorDash venture into THC beverages, we peel back the layers on the political and societal impacts of this move, emphasizing the triumphs in low-dose hemp accessibility while advocating for continued strides in cannabis decriminalization. We also analyze how the convergence of hemp and cannabis under potential new regulatory frameworks could reshape the industry landscape.
Tune into a riveting conversation exploring the strategic advantages of e-commerce for hemp companies, with Hemp House at the forefront of innovation. The national market for hemp products is changing consumer behavior, and we're here to dissect how businesses like Hemp House are leveraging platforms like Shopify and USPS to reach customers across state lines. We also consider how online analytics drive smarter marketing, and the clever moves for dominance in both local and national markets, setting the stage for a new era of cannabis success.
The episode culminates with a forward-looking analysis of Hemp House's national and international expansion strategies. We discuss the ins and outs of entering new markets, the importance of infrastructure and industry alliances, and the potential of an omnichannel approach, mixing e-commerce with brick-and-mortar. Hemp House's journey is a blueprint for growth, charting a course that could redefine the THC beverage sector and leave a lasting imprint on the global cannabis stage. Join us as we conclude with our bold predictions for the future of Hemp House and the strategic maneuvers they may deploy to conquer new territories.
Discover how the tides are turning in America's heartland as we navigate through the unexpected 'red wave' of cannabis legalization with Hirsh Jain, an incredibly seasoned cannabis strategist. In our lively discussion, we examine the churning political currents within states like Missouri, where traditional conservative views are being eclipsed by progressive cannabis policies. This wave isn't just making waves; it's rewriting the playbook on industry growth and political discourse in regions once deemed impervious to such change.
Wade into the intricate battle for cannabis reform in Florida, where the stakes are high and the rules are stringent. We peel back the layers of the state's single subject rule and Supreme Court reviews, considering the monumental task of meeting a 60% approval threshold for ballot initiatives. Yet, there's a palpable buzz of optimism in the air, fueled by the resounding success of Florida's medical cannabis program. Join us as we entertain the possibility of a domino effect across the nation, should Florida's green surge become a reality.
Our journey doesn't stop at state lines; we cast our net wide, theorizing how local legislative shifts could send shockwaves through the corridors of federal power. From the role of state supreme courts to the influence of economic imperatives and political heavyweights, we dissect the complex interplay of forces shaping the future of cannabis reform. Tune in as we stitch together a tapestry of change, where even the smallest state initiative could be the thread that pulls national and global cannabis policy forward.
Discover the thrill and potential of the THC beverage market as we uncork the secrets behind a sparkling $10 million investment fund with Aaron Edelheit. Our spirited conversation with Aaron will not only pour you a glass of industry insights but will also reveal how he transitioned from trading small-cap stocks to betting big on cannabis-infused drinks. As we tour through cannabis culture at events like the Budist launch party and Hall of Flowers, you'll get a taste of how THC is blending with mainstream social gatherings, promising a heady mix of innovation and investment.
During our chat, Aaron elaborates on the disruptive power of legal hemp-derived THC products, especially within Minnesota's receptive market. We unravel the complex legalities and rapid growth within the sector, and why heavy hitters like Döhler are teaming up with market leaders like Vertosa to fortify their presence in the beverage ingredient space. Aaron's enthusiasm is infectious, and his insights are a must-listen for anyone eyeing the potential upheaval of the colossal alcohol industry.
We wrap up the episode by dissecting the evolving dance between cannabis and alcohol distribution dynamics, where hemp beverages are making a splash and altering consumer habits. We'll share tales of alcohol distributors finding new rhythms in the hemp space, freed from traditional constraints, and how this is shaking up industry standards. Lastly, we toast to strategic partnerships and management adaptability in a market that remains as fluid as the products it creates. Join us for this candid and in-depth discussion that not only forecasts the future of cannabis but also celebrates the communal benefits of a responsibly expanding industry.
Unlock the transformative strategies of retail excellence with Krista Raymer, the visionary behind Vetrina Group, as she joins AnnaRae. Together, they delve into the art of data-driven decision-making, pinpointing why focusing on your top revenue-generating customers can supercharge your business. We're not just celebrating International Women's Day; we're drawing inspiration from the pioneering women of the cannabis industry, including Krista's trailblazing team.
Step inside the competitive arena of the retail market, where the battle for customer loyalty is fierce and the stakes are high. Learn how understanding customer behavior, from visit frequency to basket size, can turn casual shoppers into devoted patrons. We break down the anatomy of a successful loyalty program, exploring personalized communication and the tightrope walk between engaging customers and respecting their privacy. With Krista's expertise, we shed light on how retailers can leverage peak transaction times throughout the year, turning every calendar event into a golden opportunity for growth.
As the episode wraps, we extend an invitation to our listeners to join the conversation, challenge our perspectives, and keep the dialogue vibrant. Every insight shared is a step towards innovation, and we're here to guide you through each revelation, helping you craft a retail strategy that's not just effective, but legendary.