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December 2 2022,
THE BIG IDEA
Lots of news today, not much of it good. Hope this finds you bucking the trend.
In the newsletter:
- EXCLUSIVE: How the illegal market games Google
- NY equity fund promises fail to materialize: Report
Enjoy the weekend,
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WHAT YOU MISSED IN WEEDWEEK CALIFORNIA PRO
EXCLUSIVE: How the illegal market games Google
In April, Google disabled its business listing for The Artist Tree’s dispensary on Beverly Blvd. in LA.
The suspension came after the listing, on Google’s equivalent of local directory Yelp, was bombarded with negative reviews, many of which said the business was fake, or did not exist, Artist Tree co-founder and cannabis counsel Lauren Fontein told WeedWeek. The reviews told people to shop at an unlicensed retailer where they could find better prices.
“It had a huge impact on our business,” Fontein said. Google My Business “is the primary way most people view listings because it’s the first result Google provides when you search.”
The Artist Tree incident highlights how Google’s cannabis policy across its various services can facilitate bad behavior by both licensed and unlicensed operators. Google strives to reward high-quality information. However, illegal operators have access to the same tools and…
LATEST PRESS RELEASE
Canna Resource Corporation (CREC) and WeCannCa Inc. (WeCann) Merge Operations
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NY SOCIAL EQUITY FUND LEAVES UNMET PROMISES
In February 2021, NBA hall of famer Chris Webber and Jason Wild, a cannabiz investor and executive chairman of MSO TerrAscend, launched a $100M private equity fund to support minority-owned businesses. Webber is also part of the team the state selected to manage its $200M equity fund.
An investigation by NY Cannabis Insider was unable to find any investments made by the Webber/Wild fund.
The fund had also announced a $50M partnership with Cookies U on a $50M complex in Detroit with substantial construction to be completed by March 2022. The investigation found that not to be the case. A spokesperson for Cookies declined to comment.
- Customer loyalty platform SpringBig laid off nearly 25% of its workforce.
- MSO Curaleaf laid off about 220 of its 6,000+ workforce in November.
- Green Wednesday sales broke previous records.
- At East Bay Express, Dan Mitchell contemplates the sorry state of California’s market.
- MJBiz took a look at Wana and Wyld‘s battle for gummie supremacy.
- A report by economist Beau Whitney found America is already producing enough weed to supply the whole country.
State and local:
- A Michigan man suing New York state’s residency requirements for license holders has filed a similar suit against LA regulators.
- MED sales began in Rhode Island.
- An Oregon state tax court ruled a farm is entitled to state tax deductions that are the equivalent of the deductions federally banned under 280E.
- Nevada issued the state’s first 20 licenses for consumption lounges.
- New Jersey approved rules for public consumption areas.
Fun and interesting:
- A woman who attended a wedding in Florida is suing the caterer accusing it of serving food containing a “poisonous” amount of weed.
- For a tolerance break, otherwise known as a pregnancy, Jackie Bryant asked growers about the best way to store her stash. Congratulations Jackie!
- Shoppers can contribute to The NORML Foundation when they buy at Amazon.
- MSO Consensus Holdings announced it would grow, manufacture and distribute Wonderbrett in Arizona, the brands third market after California and Michigan.
- CannaCribs checked out Nimbus’ indoor farm in Sacramento which says it uses 100% sustainable energy.
- Wyld has a new gummy brand, Good Tide, launching in Oregon, California and Colorado.
- Albert Einstones brand El Blunto is expanding to Canada.
- E-commerce company Dutchie dismissed its co-founder brothers Ross and Zach Lipson. Tim Barash, a former exec at restaurant software company Toast, replaced Ross as CEO.
- Illinois named Erin Johnson the state’s Cannabis Regulation Oversight Officer.
- Emily Paxhia, co-founder of Poseidon Investment Management, resigned from the board of MSO Ascend Wellness Holdings.
- Stiiizy parent company Shryne Group named Gregory Fink CFO.
- Humble & Fume, the Canadian company that’s Cookie’s new distributor in California, elected five new directors.