September 27 2021,
THE BIG IDEA
Sadly I’ve never been to Hall of Flowers. But after reading the two dispatches shared in this issue, I’m excited to check out the December edition in Palm Springs, and before then, MJBizCon and MJUnpacked in Vegas.
Among much else, it’ll be great to see you in person again.
In today’s newsletter:
- Cookies denies marketing to children
- Dispatches from the “Super bowl of weed”
See you soon,
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Dispatches from the "Super Bowl of weed"
- Some smaller and equity potcos warn that interstate trade, if enacted too quickly, would wipe them out.
- Journalist Chris Roberts says banking reform is unlikely to pass the U.S. Senate.
- Legalization opponent Kevin Sabet argues Congress should not pass the reform.
- A company where MedMen‘s founders are now officers is suing Coastal Holding Co. a retailer it invested in.
- Forbes talked to Ben Kovler, CEO of Green Thumb Industries, about the $150M campus GTI is building in New York.
- Critics of new Michigan bills that would crack down on caregivers call it an attempt by commercial growers to increase their market share.
- The N.Y. Times looks into the gray area of growing on tribal land.
- Rolling Stone looked into the possibly illegal practice of selling D9-THC products derived from hemp.
- New Cannabis Ventures’ Alan Brochstein spots a promising ETF.
- But the market for pot SPACs has bottomed out.
- Vice highlights tensions between the for-profit MED psychedelic industry and folks who just want the drugs to be legal.
- “Shroom delivery is now a thing.”
- Lawsuits have been filed after 300 Oklahoma MED businesses, all of which shared a co-owner, lost their licenses.
News on 6
- MJBiz looks at the hot New Jersey market for retail and industrial space.
- In a landmark antitrust case, a Calif. jury awarded $5M in damages to a dispensary that was blocked from the Richmond, Calif. market by a rival dispensary.
- A Massachusetts regulator criticized the “impact fees” municipalities can levy on cannabis businesses.
- Allies of Jonathan Wall, a 26 year-old awaiting sentencing, possibly life in prison, for selling pot, took out a full page ad in the Washington Post asking “Who will be the last person incarcerated for cannabis in the U.S.?”
- Los Angeles County DA George Gascón (D) said his office would dismiss nearly 60,000 pot convictions.
Health and Science:
- Cannabis use by women early in pregnancy surged 25% in 2020, an analysis found. Though little researched, doctors caution women not to use cannabis during pregnancy.
- A study suggests the data on your phone could be used to detect whether you’re high. (It’s not happening yet.)
Fun and interesting:
- The U.S. market for non-alcoholic beer is taking off.
- @sherbinski415 had fun at a fried pizza and cannoli block party in Brooklyn, hosted by Action Bronson of “Fuck That’s Delicious.”
- Michigan operator Skymint concurrently announced the acquisition of retail chain 3Fifteen Cannabis, the closing of a $70M senior secured term loan, partnership with Sundial Growers and an $8M equity raise from Merida Capital.
- Canadian brand Burb raised $4M and plans to enter the U.S. market.
- Bhang has entered a letter of intent with Jim Belushi’s licensing company to bring Blues Brothers infused chocolates to market.
- Dispensary software provider Flowhub launched a social equity program.
JOB MOVES AND NEWS
- New York state filled out the final members of the Office of Cannabis Management Board.
- Hydroponics retailer GrowGeneration named retired tech exec Eula Adams to its board.
- Vertosa, a developer of emulsion systems for infused products, named University of Massachusetts Amherst professor of food science David Julian McClements as founding member of the Vertosa Science Advisory Board.
- Canadian operator Aurora said it would lay off 8% of its staff. For the quarter ending in June, revenue was down 45% year-over-year.
- The cannabiz has become a refuge for frustrated and underappreciated retail workers.
- Erin Gore, CEO of California brand Garden Society discussed the five things female founders need to thrive.
WeedWeek offers FREE resources for active and passive job seekers in our career center.
- Respect My Region‘s Joey Brabo bemoans the lack of legal access in Maine.
- Julian Aaron posted the next 15 retail markets to open in California.
- @doubleblindmag is running a “Celebrate plant medicine,” billboard campaign in Times Square.
- @koala.puffss “shoulda known better.”
- @andrew_deangelo says let’s talk about “Cali sober.”
- @wandaljames wants to promote black-owned brands.
ESPORTS ARRIVE AT THE PARTY
WEEDWEEK HIGH SOCIETY -- 9/28/21
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