Investing in Cannabis

Well guys this is it for iC!  I tried to think of something intelligent or witty or thought provoking to leave you all with, but it didn't come. Words can't really express the gratitude I feel for everyone who gave me their ears over the last 7 years. If you let me into to you workout session, your commute to work, your bathroom time, thank you!  I had no idea what to expect from starting a podcast. It truly was just an excuse for me to meet awesome people like Hua, Ben Larson, Seibo, Doug Leighton, Emily and Morgan Paxhia. I had no idea it would turn into such a meaningful part of life. It still amazes me that all of you smart people took interest in what a chubby stoner entrepreneur had to say about startups and investing. I never went to school for business and did my best to hang with the big dogs of cannabis investing. A couple groups I want to address directly: To the founders - keep going. Keep learning. You don't know what opportunity is going to pop. Whether it be in cannabis or another industry, keep fucking going! To the investors- I'm sorry this industry hasn't worked out better so far. I'm still a believer that with time great wealth can be created from cannabis, but the obstacles and barriers are still monumental.  To the guests - thank you for taking a chance on me! I was a kid with zero experience with either cannabis or podcasting. Thank you for everything you taught me.  To Producer Erik and Director Jacob - without question the fondest memories of the show will be with you two just trying to figure shit out. In many ways my favorite time was when nobody listened and we did this for ourselves. Let's start a new show!  For the last time . . . Tune in, listen up, get acquainted!

Just one more after this! I'd be lying if I said I wasn't a little sad ;( Next ep we will have a special guest to wrap up the show; me! Everyone in the cannabis industry right now seems to be focusing on big markets like CA, NY, NJ and others with huge potential market value. Greenlight and John Mueller have taken a different approach. They have targeted medical dispensaries in "fly over states" with a focus on operations and profitability. With states on the brink of recreational like Missouri, Arkansas, and West Virginia, Greenlight is well positioned to take advantage. It's a great episode and one of the few success stories in this industry. https://www.linkedin.com/in/john-mueller-6a3749a/ https://greenlightdispensary.com/about/

The rumors are true . . . there are only 2 episodes remaining of Investing in Cannabis. More on why in the coming weeks. This week we have Nick of Claybourne. Nick describes their process as breed to brand as he heavily values their genetics and cultivation techniques. In a personal favorite move, Claybourne was one of the first to offer half ounce smalls . . . brilliant. We also talk marketing, distribution, expanding to new states and much more. https://www.linkedin.com/in/nick-ortega-22926791/ https://www.claybourneco.com/

Only 3 episodes of Investing in Cannabis left! Yes the rumors are true, after 7 years iC podcast is coming to an end. I need new challenges and nobody makes money in the cannabis industry. Over the next few weeks, I'll be talking more about the decision, what I learned, and my predictions for where the industry is headed. For now, enjoy the final remaining eps! This week we take a look at #Oklahoma . Although still only a medical market, a large percentage of the population hold medical cards and tax revenues have been substantial for an otherwise slow state economy. It is a tiny but mighty case for cannabis across the country. I had the chance to connect with Arshad Lasi of the The Nirvana Group. At only 23, Arshad is wise beyond his years. He has successfully grown the family business into one of the major players in OK. We talk: - vertical integration - genetics - licensing vs building brands - Taxes and what most states are doing wrong - The price of top shelf is shockingly low.

In a rare iC episode, Matt Hawkins of Entourage Effect Capital joins the show for the 2nd time! Matt has been very busy since we last chatted. Through 3 funds, the firm has invested in 60+ companies since 2014. He is truly one of the best and most experience minds we have in our industry.

5 years ago, Helene of JourneyOne Ventures reached out to ask me how to become a cannabis VC. What a goal! Several very long cannabis years later, she has launched a pre-seed to series-A fund focused on cannabis technology startups. She is very interested in compliance, ecommerce, marketing tech, d2d and more. On a personal note, it warms my heart to hear Helene share how much she learned from my little old podcast. I'm so happy to have played a tiny role in her success :) We go deep on: How to build a investment thesis Attracting deal flow Raising capital Evening the playfield for minorities What kind of weed we like. https://www.journeyone.vc/ https://www.linkedin.com/in/hservillon/

We've talked many times on this show about the pros and cons of being vertically integrated. Increasingly we are seeing successful brands that are asset light and benefit from the infrastructure others have built. At the same time, as values rise in the future, having those hard assets will certainly be much more valuable than they are today! Germany in an interesting move has decided it will not allow cultivation when it fully legalizes next year. The ramifications of this could be numerous but most immediately it requires international trade to get product into the country. This is nothing new for Nik of the Bloomwell group. He was responsible for a lot of firsts in German cannabis including ecommerce, same day delivery, and most recently the first major plans for large scale imports. The world is a changing . . . Nik and I get into the process of legalization in Germany, where in the world has the best weed, where he will expand to next, and why Germany will be the biggest legal market come 2023.

The California cannabis knife fight continues! In a deep field of competitors, Falcon Brands has managed to rise to the top. Their brands CRU, Jetpacks, and others are in the top 3 for their categories. CEO Steve Gutterman attributes this success to a blended team of traditional CPG execs and legacy cannabis talent. Maintaining cool at scale is just HARD! The future will not be simple for Falcon either, as their focus shifts to maintaining and expanding into new markets. Steve is a seasoned executive and former head of Harvest and General Cannabis Corp. Steve and I go deep on capital raising, acquisitions, marketing, branding, illicit market, and much more. https://falconbrands.com/ https://www.linkedin.com/in/steve-gutterman-38970738/

Do you like edibles? What do you like about them? People who don't tend to have the same complaints; it takes too long to hit, it lasts too long, it makes me tired. What if we could solve some of these complaints? Kim of Azuca and their "precursor" product have started to chip away at the edibles gap for new consumers. For those who like to smoke, the effects of new emulsion technologies may hit you differently than you expect. Kim and I chatted from MJ Unpacked about onset time, offset time, the downsides of distillate, and whether it was worth it to sponsor the conference. https://azuca.co/ https://www.linkedin.com/in/kim-sanchez-rael-49379/

Does the east coast want California cannabis brands? While most California cannabis brands struggle to find relevancy (and profitability), Big Pete's is bringing its #1 selling cookies to New York and beyond. Licensing and a franchise-like-model looks to be very profitable for them in AZ, NV, CO vs the asset heavy MSOs. Little Pete joins me live from MJ Unpacked and dives deep into: *cannabutter *distribution / d2c *what makes a good brand *quality control *what its like to be a legacy brand https://bigpetestreats.com/

Should companies de-verticalize? How do CA brands win on the east coast? Do billboards work? How much does Jay Z actually do? These questions and more with my friend and former Caliva CEO Dennis O'Malley. https://www.linkedin.com/in/domalley/

Did you go to MJ Unpacked in Vegas last year? The new event was talk of the town and created a more intimate, focused environment that was refreshing after the madness and party that MJBiz and Hall of Flowers have become. Founder and my guest this week George Jage says that different, more professional vibe was very much intentional. He is the former president of MJBiz and Dope magazine and wanted to focus on productivity for MJ Unpacked. The conference will bring together brands, retailers, and investors, as well as an unprecedented level of diversity for a business conference. George and I also discuss what makes a good brand, illicit market, dtc, beverages, and why virtual events suck so much. Join George, myself, and many more May 18th-20th in NYC. https://mjunpacked.com/

Lots of news last week! My good friend Judson and I sat down to chop it up and share our takes on all the happenings from last week: Leaf Trade b2b marketplace raises $12.5M Backbone supply chain software raises $14M Bespoke Financial expands to East coast and beyond 420, Benzinga, and "green wednesday" ====== This episode is brought to you by MJ Unpacked: May 18-20 - NYC. Brands, Investors, and Retail come together to shape the future of east coast cannabis. https://mjunpacked.com/

Celebrity brands have taken over the cannabis industry. Everywhere you look brands are slapping celebrity endorsements on the packaging and hoping someone picks it up and tries it. Real connoisseurs should be wary, as most of these brands are more focused on marketing than on quality. I was skeptical before my interview with Ashlan and Philippe Cousteau of SeaWeed Naturals. Of course the legacy of Jacques Cousteau speaks for itself in the oceanography world, but what did they know about cannabis? As I pressed them on why and how they developed their product line, I was impressed with their knowledge and intentionality around ingredients, packaging, and formulations. It is clear they could have created any number of products in the world, but they chose cannabis. I think that speaks volumes about how this industry has evolved. https://www.seaweednaturals.com/ ==== This episode is brought to you by MJ Unpacked: May 18-20 in NYC. MJ Unpacked provides an exclusive forum for qualified brand and retail decision-makers. https://mjunpacked.com/

In this Throwback episode we bring back Michael Piermont of Leaf Trade. This week Leaf Trade raised a fresh 12.5M round to propel its marketplace and technology platform for wholesale cannabis. We recorded this back in 2020 and the episode has aged really well. Fascinating discussion of why this technology is necessary for buyers and brands. What does this mean for vertical integration and Limited Licences MSOs? Can they catch LeafLink? https://www.newcannabisventures.com/cannabis-technology-company-leaf-trade-raises-12-5-million/ https://leaf.trade/ https://www.linkedin.com/in/michael-piermont-049839a/

Do you like vapes? Yeah, me neither. Except Friendly Farms. The best live resin cart on the market has quickly spread across California. This is high level cannabis nerdery at its finest. Chaz breaks down what is the actual difference between live resin, live rosin, and how you make them. Fascinating. Friendly Farms is a legacy brand that heroically traversed the transition from medical to rec. Not an easy feat and a tremendous success story from a fully founder owned cannabis company. Novel. https://friendlyfarmsca.com/ ---------- Friendly Farms is a client of our sponsor, Bespoke Financial. Friendly has raised millions of dollars without diluting their equity. You can too. https://bespokefinancial.com/

200. It has a nice ring to it. I started the Investing in Cannabis podcast in 2015 with some friends and one goal; Meet some cool people in the new cannabis industry. It worked! 200 episodes later I am overcome with gratitude. Gratitude for the team, @Jacob @Erik. Thankful for every guest that took valuable time out of building their company to take a chance on a guy with no experience. Especially in the beginning when literally zero people were listening. Most of all im grateful to the listeners. The core 1000 that listen to the entire episode on the day it comes out and the other 30,000 that listen to the first 10 min. I love you equally. Your messages and questions, feedback and endless passion for your newest ventures have kept me going. It is an honor that so many people want my feedback and advice. It's an honor that people put me in their ears every week. They literally put my voice in their brain! THANK YOU! There is no iC without this smart motivated, creative, rebel audience. For 200, I am launching a throwback thursday series to go along with new eps on Tuesdays. It's a little weird for me to call anything I've done a classic (who am I, Dr. Dre?), but nonetheless I think you guys will really enjoy gaining some history and context. Understanding where we came from is crucial to understanding where we are going. First up in the throwback line up is Dennis of Caliva. Now the crown jewel of The Parent company portfolio, Caliva is a dominant player in CA and beyond. I spent the day with Dennis and team walking around their San Jose cultivation and talking the future of what is one of the most important companies in cannabis. Enjoy! (also on my linkedin there is a little video montage if you want to check that out: https://www.linkedin.com/in/badavid/) ------- This episode of iC is brought to you by Bespoke Financial. Raise non-dilutive capital and hold on to your precious equity. https://bespokefinancial.com/

In an iC exclusive, Grassdoor founder Zack Ein does his first ever public interview. In the backyard of his LA home, Zack opens up about the ins and outs of starting and scaling a last mile delivery business. If you aren't familiar with the name, it's because Grassdoor seemingly came from nowhere during the pandemic, and quickly became one of the biggest players in CA. Zack goes deep on his view on competitors both inside of cannabis and out and what the future of cannabis delivery looks like. Fascinating discussion and a Brandon instant favorite. https://grassdoor.com/ === This episode of iC is sponsored by Bespoke Financial, the leader in non-dilutive financing for the cannabis industry. https://bespokefinancial.com/

Cannabis and video games have long since been a perfect match on a Saturday afternoon, but how much do the customer basis overlap? If you like cannabis or just nascent industries, you probably are interested in gaming and esports. It's one of the few industries that has grown faster than cannabis over the last few years. This week's guest represents one of the first real brands capitalizing on the marriage. Pine Park is the brainchild of Opennest Venture Studio and Hector Rodriguez aka gaming influencer HECZ. https://pineparkgear.com/ ==== This ep is brought to you by Bespoke Financial - The leader in debt and non-dilutive funding for the cannabis industry. https://bespokefinancial.com/

Sunderstorm is a family of cannabis brands best known for its legacy and true OG gummy brand, Kanha. Keith explains the full playbook for scaling from a small mom and pop to a national brand including; manufacturing, licensing, marketing, and fundraising. Sunderstorm is one of the biggest edible companies in the world, and it shows. ==== iC is brought to you by Bespoke Financial - Raise money without giving up equity. Bespoke's complete fintech platform now includes seamless integration with METRC. https://bespokefinancial.com/

Do celebrity brands work? Most celebrity brands suck. They get away with inferior products and marketing because they have that celebrity photo on the packaging. It's kind of like how restaurants with incredible views don't need to have great food. Tyson 2.0 is the exception. Tyson 2.0 sets itself apart with true authenticity. Mike Tyson loves weed and personally samples everything that goes in the bags. Adam and the team have done a great job of capturing what today's consumers want and the market is rewarding them. They recently signed a deal with MSO Columbia Care that will bring Tyson 2.0 products across the country. https://tyson20.com/ ==== Thanks to Bespoke Financial for sponsoring. If you are raising money, you need to check out the Bespoke Fintech Platform. https://bespokefinancial.com/

This week on the pod, we have Hilary of Our Dream Academy, a non profit accelerator designed to help minorities and founders impacted by the war on drugs build businesses. It is a fascinating discussion about where we are in the fight for equality and what big cannabis can and should do about it. https://thisisourdream.com/our-academy/ ==== Thanks to Bespoke Financial, the leading fintech platform in cannabis. Raise money without giving up equity at https://bespokefinancial.com/

This week we welcome a very special guest Alexander Rabinovitch CEO of Intercure. Intercure is a large vertically integrated Israeli cannabis firm pushing the boundaries of international trade. Intercure also has the exclusive license to sell cookies in Israel. That's right you can get a prescription, go to a regular pharmacy and buy cookies flower! https://www.intercure.co/

Dutchie creates technology that powers e-commerce and point of sale solutions for dispensaries. It ​is a name synonymous with cannabis technology. If you don't know that name, you should. Jon Bond is a true OG of the industry and a massive part of the reason Dutchie is where it is today. Have you tried Leafwire? It is the #1 place for B2B networking; online and in person.

Leafwire is the world's largest Cannabis and Hemp B2B Network. The Linkedin of cannabis is about to get a massive pivot, as Leafwire takes over the cannabis events space. Peter explains how he built a social media platform from scratch and why we all need an app in our hands during cannabis conferences. Leafwire is currently raising to build 2.0 and maintain its spot as the go to network for cannabis businesses. Go to https://www.leafwire.com/ to create an account.

Originally from Washington, 4Front Ventures is very focused on low cost production and operations. They are not interested in celebrity endorsements or fancy marketing. The team at 4Front wants to get down to business and expand with the same playbook. Thanks to this episodes sponsor LeafWire (www.leafwire.com/) - 100% Cannabis Business Network. No stigma. Just business.

Starting 2022 with a big episode and an all-time great conversation. We have Adam Bierman taking us through the past 10 years of MedMen. Much has been said about the MedMen story but this conversation reaches depth that only the podcast format can achieve. This week we are also joined by special guest co-host Ben Kovacs. As Brandon says every episode, you're going to learn a ton! Thanks to this episodes sponsor LeafWire (https://www.leafwire.com/) - 100% Cannabis Business Network. No stigma. Just business.

Are you following the rules as a cannabis business owner? Are you expanding into new regions/states in the USA and want to make sure you stay compliant with local law? Brandon's conversation with Marion the CEO of Simplifya is a must listen. This topic can be overwhelming as legalization continues to spread across the country. That's why Simpliya is so clutch. Tune in, listen up, get acquainted!

From Jake's LinkedIn: "Gardenhouse is a cannabis brand house based in California offering retailers a curated menu of affordable premium brands. Gardenhouse evolved from DomPen, a leading all-in-one vape brand with efficient and licensed in-house manufacturing and sales. As Co-Founder and CEO of DomPen, Jake has helped grow the brand from a living room operation to over one million units sold across the country." There is always a special vibe when Brandon can sit down in person with the guest. This episode is no exception! Brands in the cannabis space are a tricky thing. These guys dive right into the conversation and would be founders have a lot to learn from this conversation. Tune in!

Brandon chats with Tahira the co-founder and CEO at Commons. Her and her co-founder have had big positive impacts from the use of CBD products in their lives. Now they are on a mission with Commons to democratize the access to products and information that will help others with chronic pain. This one is a masterclass on listening and learning from customers. Enjoy!

Brandon stops by The Artist Tree in Los Angeles to talk to co-founder Lauren Fontein. About the company: "With more than 13 years of experience in the California cannabis industry, The Artist Tree team is passionate about changing how people experience cannabis. Our mission is to provide safe access to legal cannabis, raise awareness of the health benefits of cannabis, showcase artists from the community and break stereotypes surrounding cannabis sales and consumption."

Time to nerd out about cannabis extraction a little. Brandon starts with a basic line of questioning; What is a Terpene? And as the episode progresses they get into the deep water of the conversation about the science behind some of your (and our) favorite products.

Brandon is in Santa Ana, California this week at the dispensary/office of Unrivaled Brands. They believe the dominate cannabis brands of the future will come from the west coast. Specifically California and Oregon where Unrivaled Brands is currently doing business. Enjoy the episode!

Eddie Lucarelli, the CFO at Riv Capital is on the program this week. Enjoy!

Looking for level ups for your cannabis business? Do you have very specific goals that will get your business from A to B or 0 to 1? The marketing and sales team at Pedalfast is world class and industry specific. Not only will you want to work with them after this episode you will learn a lot from this conversation with Jason Vegotsky the CEO of Pedalfast. Double teaming with a co-host this week! Brandon is joined by Ben Kovacs for some additional expert commentary.

Brandon continues his tour of New York with another in-person interview! This episode is a must listen for those would be cannabis business owners in the state of New York.

Jeanne Mariani Sullivan a founding member of Arcview Ventures sits down with Brandon in New York City.

Roie Edery the founder and CEO of Ginger Brands sits down with Brandon to talk about enabling brands with new tools. This guy knows the business super well, you will learn a ton about the industry. Specifically how products move through the ecosystem and how it can all be improved. Tune in!

Info packed episode this week with Trent, Chief Commercial Officer @ Jushi Holdings. As one of the bigger and well known MSOs, Trent has great perspective on how the industry and different markets are evolving. Awesome interview for any investor trying to decide which cannabis stocks to buy!

Todays guest is Alexander Gastevich, the vice president of V. Gastevich Investments. They are a Chicago-based Family Office with decades of diversified investing and portfolio management experience. A great guest paired with some awesome questions from our host Brandon. You simply cannot find this investing knowledge in another cannabis podcast. Strap in for an info packed episode!

In this episode we have Brian Ward, the CFO at Verano Holdings. They're a big deal in the cannabis industry. "Leveraging world-class genetics and industry-leading grow & process techniques, Verano creates artisanal cannabis products unrivaled in quality, consistency and experience. From our award-winning seeds to our signature aesthetic, at Verano there is an obsessive commitment to quality, evident in each of our products, dispensaries and teams." You can tell Brandon enjoyed going deep and talking details in this one. Enjoy!

This week we have Ted Lichtenberger the co-founder of Flower Company. He thinks you should spent less money on cannabis and delivery. FLOWER CO. delivers top weed brands throughout the Bay Area, Los Angeles from Calabasas to Long Beach, Sacramento, and Humboldt County.

CEO and Founder of Rebel Coast, Josh Lizotte is on the program. If you're curious to hear from the first brand to ever dare to infuse a wine, you will want to listen in this week. Marketing a cannabis brand is a common theme on this show and this week is no exception. Get out your note taking devices friends, this is a good one.

Scott Jennings makes cannabis food with healthy, guilt-free ingredients. Finding himself wanting more from the cannabis industry, Scott set out to build the company he wanted to see in the cannabis industry. That company is Pantry Food Co. Brandon and Scott talk about how his products compete with traditional flower consumption. They also dig into the economics of dispensaries and much more. Tune in, listen up, get acquainted!

Board Member & Executive Chairmen Ben Kovacs has several irons in the fire. Much of his focus is going to Next Green Wave where he is a board member. They have over 1 million square feet of permitted facilities in the state of California. Not bad! You have a ton to learn from this conversation. Tune in, listen up, get acquainted.

Brandon sits down IN PERSON :) with CEO of Blaze, Christopher Violas. Based in Newport Beach, Blaze is a cannabis ERP technology platform specializing in track and trace/seed to sale technologies. Oh and BTW, they are hiring! The past year has made us thankful anytime we get to connect with people in person. The vibe was super positive and this was an awesome chat. You can tell Brandon was smiling ear to ear for this one.

Brandon sits down with Demitri Downing the Founder and CEO of MITA (Marijuana Industry Trade Association) Arizona legalization is new, but Demitri has been a part of the scene for years. Great episode of learnings and a peak into the future - Especially if you live in Arizona!

Brandon has a detailed chat about the hurdles to marketing cannabis companies with Irfran the Co-Founder and CEO at The Flower Agency. They have some innovative ways to target and reach existing and potential customers. If you run a cannabis related company and are struggling with your marketing this is the episode for you. Irfran has a ton of knowledge you will find useful as a founder.

Special guest host Jocelyn Sheltraw of Headset is at the Arizona Cannabis Executive Golf Tournament. She has a quick chat with Samuel Richard Executive Director of The Arizona Dispensaries Association protecting and advancing the ecosystem of regulated cannabis across the Grand Canyon State

Brandon is in AZ this week talking with Brian Yauger the CEO of Lemonhaze. They bring together thousands of people from the industry by providing, executive golf tournaments, budtender events, education, conventions, industry reports and more.

Brandon thinks Aaron makes the best small batch indoor cannabis in the world. Brandon also points out they he is "the 1%" and what a cannabis consumer looks like is going to change a lot over the next few years. Gold Seal San Francisco is a boutique cannabis lifestyle and apparel company, advocating for legalization of medical cannabis.