July 29 2022,

TOGETHER WITH

THE BIG IDEA

Hi all,

Exciting news: We’ve partnered with Newsworthy.ai to publish your press releases on the WeedWeek homepage and, starting next week, in the newsletter. It’s an affordable way to get your news in front of the most influential audience in weed.

For a limited time get $50 off with code: WWPROMO

Check out the details here.

In the newsletter:

  • Key Takeaways from that Weedmaps story

Have a great weekend!

Alex

 

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WHAT YOU MISSED IN WEEDWEEK CALIFORNIA PRO

Black-owned businesses feel the squeeze

In June, the chair of Oakland’s Cannabis Regulatory Commission sounded the alarm: California’s social equity businesses couldn’t survive in the current business climate. Amid heavy taxes and competition with the illegal market, Chaney Turner told lawmakers in Sacramento, “Only large operators with expendable capital can afford to operate ‘in the red’ long enough for many of their competitors to fail.”

“Why are Black & Brown cannabis equity retailers being ignored?” Turner asked. As Turner noted, two recent relief efforts had overlooked the urban dispensaries and delivery services which comprise most minority-owned cannabis…

Read the rest at WeedWeek California Pro

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NY Cannabis Insider provides valuable and timely information for the thousands of professionals entering the state’s nascent cannabis marketplace. Led by veteran investigative reporter Brad Racino, the daily publication also scrutinizes powerful interests, monitors the use of taxpayer funds and amplifies underrepresented voices.

Racino reached out to WeedWeek to offer our readers a free month subscription ($35 value) by using the promo code “NYUP1M” after creating an account here: https://www.newyorkupstate.com/cannabis-insider/subscribe/   

Weedmaps allows “vast black market activity": report

weedmaps
Courtesy of Weedmaps

John Schroyer had a big scoop over at MJBiz: Weedmaps is carrying listings for unlicensed shops and products in California, according to complaints filed with federal and state regulators. 

  • MJBiz was able to confirm some of the advertisers violating state law or Weedmaps policies including failing to display license numbers, displaying incorrect license numbers or displaying illegal operating hours.

Executives at licensed Los Angeles operator Canex Delivery filed the complaints after Weedmaps was mostly unresponsive to their outreach.

  • In the early days of California’s REC market, Weedmaps, which functions like a Yelp for dispensaries, infuriated legal operators by continuing to accept advertising fees, which can be well into the tens of thousands a month, from unlicensed shops. 
  • It took steps to remove those advertisers in 2020, but its parent company has since gone public on the NASDAQ, heightening the associated risk. 
  • A Weedmaps spokesperson declined to comment directly on the allegations, but said it had not received notice from regulators. 

Weedmaps has said it has a “trust and safety team” but the executives who filed the complaint aren’t convinced it exists.

  • The filings further allege some dispensaries have been renting their licenses to give unlicensed operators “the appearance of legitimacy on Weedmaps.”

WM Technology generated revenue of $57.5 million in its first quarter ended March 31, a 40% increase over revenue of $41.2 million for the same period in 2021.

Read the whole thing.

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  • Pacific Stone has partnered with Weed + Grub on the Pacific Stone Comedy Tour, an invite only event for budtenders. It kicked off this week in LA and is coming to Santa Barbara and NorCal in October.

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