April 8 2022,

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THE BIG IDEA

Hi all,

I was just in New York and boy that town’s gone to pot. Thank you, thank you. I’ll be here all week. Let’s get to it. 

In today’s newsletter:

  • A big week for federal reform bills

Enjoy,

Alex

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What you missed yesterday in WeedWeek California Pro

Why did TPCO write down $654M?

The Parent Company, also known as TPCO Holding, began 2021 as arguably the most promising company in California.

That’s no longer the case, after it reported a net loss of $587M in 2021.

What’s going on? 

TPCO revenue fell well short of…

Read the story

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Eaze rejects anti-union allegations

Green Dragon, the retailer recently acquired by delivery app Eaze, told WeedWeek it “vehemently denies any and all allegations of our organization being anti-union,” amid a tense unionization push in its home state of Colorado. 

On Monday, local pub Denverite reports, the company fired three grow workers for supporting an employee union:

  • “Workers at Green Dragon alleged the growhouse is filled with mold and insects and that the company refuses to provide adequate ventilation.

Read the story

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PLUS: Corruption allegations in Fresno and much more in yesterday’s WeedWeek California Pro.

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A BIG WEEK FOR FEDERAL REFORM

For the second time, the U.S. House of Representatives passed the MORE Act, a progressive bill to end federal prohibition. It’s very unlikely to clear the Senate in its current form, but there multiple other reform bills have gained traction. On legalization lawmakers have shown a new openness to reaching across the aisle. 
USA Today

Separately, the House and Senate passed dueling bills to expand MED research.
Cannabis Wire

And in the city of Washington D.C., city council rejected a measure that would circumvent Congress’ effective veto of a REC industry in the district.
Marijuana Moment

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