September 30 2021,
THE BIG IDEA
Happy Friday all,
Pretty soon I’ll remember to write this part first, when I have more to say.
Lots of good stuff in today’s edition:
- Chris Webber bets $50M on Detroit
- Bank reform in limbo
- Weed at work: The new rules
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Banking reform in limbo
Weed and work: The new rules
- Canna Law Blog asks if Illinois’ license lottery was rigged: “Sure looks like it.” Those dispensary licenses are worth seven figures, even before the shops open.
- A survey found 40% of Americans have purchased a cannabis product.
- Western growers prepare for the harvest after a challenging season.
- The L.A. Times meets the hedge fund manager bankrolling the psychedelics boom.
- At least three lawsuits have been filed against MSO Curaleaf following incidents where Oregon buyers got high off what they thought were CBD products. Curaleaf blamed the factory mix-up on “human error.”
- Social network Tumblr will allow cannabis ads in California and Colorado.
- Elon Musk said people should be “open to psychedelics” and acknowledged their therapeutic potential.
- In Oregon, more than half of hemp farms inspected by state officials were growing unlicensed pot.
Jefferson Public Radio
- Dispensaries are getting bigger.
- Ayr Wellness CEO Jon Sandleman discussed Midwest markets with Grown In.
- Business Insider raised questions about Rootz Research, an analytics startup which claims it can help anticipate what brands customers will buy. It’s led by entrepreneur Eric Spitz, who started C4 Distro, a reportedly struggling distributor.
- A federal judge’s ruling delivered a big hit to Miami’s de facto pot shop ban.
The Real Deal
- The SEC charged California-based C3 International with “scamming at least 40 investors” out of $2M. The company didn’t respond to a request for comment.
- California formally adopted new regulations designed to make life easier for legal operators.
- Why hasn’t Florida followed through with a special license for Black farmers?
- Mississippi Gov. Tate Reeves (R) could soon call a special session to legalize MED.
Health and Science:
- More dogs are accidentally getting high on edibles.
- California Gov. Gavin Newsom(D) signed a bill to allow terminally ill patients to use MED in hospitals.
- A Florida doctor could lose his license after what he alleges was an illegal sting operation targeting his MED recommendation practices.
Fun and interesting:
IN THE WEEDS
- Nick Denney, regional cultivation manager for Holistic Industries, discusses growing craft at scale.
- Announcing the close of $42.2M in unsecured notes, REIT Pelorus received a BBB+ debt rating from an independent firm, which the company called a “first-of-its-kind win” for the cannabiz.
- Newsletter Four PM asks who will be the leading marketplace: Weedmaps, Leafly or Dutchie?
- The IRS offered extensive tips on how PotCos can stay compliant on taxes.
- Standards organization ASTM International formed a new subcommittee on cannabis sustainability.
- Data shop BDSA dropped its post-Hall of Flowers California round up.
- Andrew DeAngelo weighs in on why a company’s culture matters.
- Leafwire is hosting virtual speed networking on October 13.
- Coffee & Kush has a product drop tomorrow morning at the Wonderbrett store in LA.
- The Real Cannabis Entrepreneur Conference comes to Newark, N.J. on October 15 and 16. It has a virtual component.
- BDSA is hosting a markets forecast webinar today.
- There will be a farmers market type event tomorrow in Eureka, Calif.
WEEDWEEK HIGH SOCIETY -- 10/1/21
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Artist, DJ, musician and designer Sheefy McFly in front of the tent he designed for Artprize, a competition and festival in Grand Rapids, Mich. Detroit-based McFly is collaborating with Skymint, the first cannabis brand to sponsor Artprize.
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