February 4 2023,
THE BIG IDEA
We’re planning to host our first webinar in a few weeks.
I’ll release the full details soon. But the very smart and plugged-in speaker will be giving a California-centric presentation. It’ll be free to attend and if the audience is anything like WeedWeek’s it’ll be a mix of influential figures on both the plant touching and ancillary sides.
We’re looking for a sponsor. This is our webinar debut there will likely be some hiccups, but I can offer you a lot of visibility, customized to your needs, at a reasonable rate.
Email if you’d like to discuss further: email@example.com
In the newsletter:
- California’s interstate trade memo: An analysis
- Welcome home Luke Scarmazzo!
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WHAT YOU MISSED IN WEEDWEEK CALIFORNIA PRO
California’s interstate trade memo: An analysis
This week the California Department of Cannabis Control (DCC) sent a memo to California Attorney General Rob Bonta requesting a legal opinion on whether interstate trade poses a “significant risk to the state of California.” It’s the latest sign that the country’s largest market is eager to begin legally exporting its celebrated weed. Among much else, this could prove a disruptive force in the national market.
I spoke to Hirsh Jain, founder of consultancy Ananda Strategy, about the memo’s legal argument, and its implications for the California and national markets.
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LUKE SCARMAZZO FREE AFTER 14 YEARS
A federal judge freed federal prisoner Luke Scarmazzo after serving 14 years of a 22 year sentence for running a dispensary in Modesto, Calif. According to CA NORML, Scarmazzo was the last federal prisoner locked up for a California MED charge.
Scarmazzo and his business partner Ricardo Montes opened the shop in 2004 and were raided in 2006 before being charged under a so-called “kingpin” statute designed for cartels. Montes’ sentence was commuted by President Obama. Scarmazzo was passed over for release by Presidents Obama and Trump.
“Luke’s story is one of the most tragic stories perpetrated by our criminal justice system,” said Weldon Angelos, president of The Weldon Project, a non-profit which helped to free him. Angelos, who “I’m finally relieved that he can go home to his family and have a chance at rebuilding his life.”
- Angelos served seven years alongside Scarmazzo.
- MJBiz has a big piece on the fall of Flow Cannabis a.k.a. Flow Kana. Once the top flower brand in California, the company is now “mothballed.”
- Dentons attorneys Cassandra Beckman Widay and Amy Rubenstein write companies “must brace” for more lawsuits over mislabeled products. The article cites WeedWeek reporting.
- MSO MedMen is “on the brink of collapse.” It has $15M in cash and $$137M in debt.
Green Market Report
- A former employee of MSO Trulieve is suing the MSO claiming she was denied a promotion because she has three children with autism.
- An investor group is suing REIT Innovative Industrial Properties alleging lack of due diligence into its King’s Garden investment.
- The International Trade Commission ruled that many U.S. vape companies didn’t infringe on three patents held by a Chinese company.
- Poseidon‘s Patrick Rea asks what the heck is going on with cannabis investing?
State and Local:
- California regulators are calling for an investigation following an L.A.Times report of labor abuses, including 32 deaths, within the California industry, licensed and not.
- Steve Marks, longtime head of the Oregon liquor and cannabis regulator, is stepping down at the request of new Governor Tina Kotek (D).
- Connecticut officials said they plan to review loans MSO Curaleaf received from Russian oligarch Roman Abramovich. Curaleaf says the loans have been repaid and that it has been fully compliant with disclosing its ownership and financing in the state.
Health and Science:
- A study found cannabis users have better sex.
- The L.A. Times profiles on a conman who used a weed business proposal to steal tens of millions.
Fun and interesting:
- The Hollywood Reporter checks out WeHo’s new consumption lounges.
- This Emerald Triangle farm has a yurt on Airbnb for $420/night, all inclusive.
- Berner wants art for his compound.
- NFT start-up Weedar raised $1.5M.
Tech Funding News
- Erykah Badu has a new strain, in partnership with Cookies.
- Holistic Industries’ Garcia Hand Picked is leaving California but will continue operatinf in five other states.
The Growth Op
- Career training company Green Flower Media is starting a partnership with the College of Southern Nevada, in Las Vegas. Courses cost $750.
- Former Eaze CEO Ro Choy has left the cannabiz to lead Doug DeMuro’s car reviews and auctions platform.