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December 2 2022,
Hi all,
Lots of news today, not much of it good. Hope this finds you bucking the trend.
In the newsletter:
Enjoy the weekend,
Alex
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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…
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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.
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