Bolder Business Strategies

How two young entrepreneurs navigated stringent state regulations and built their brand.

Consider the multi-phase evolution of Colorado’s cannabis industry: the illicit marketplace gave way to a relatively unregulated medical marketplace, which developed into a regulated medical industry, which opened the door for adult-use legalization.

Now, constantly shifting regulation in both the state’s medical and recreational industries creates a minefield of obstacles and hazards for aspiring cannabis companies.

Read more at Cannabis Now

CA’s Legal Weed Market Is Worth $5 billion — There’s a Catch

California already accounts for roughly a quarter of all legal cannabis sales in the Unite States and is poised to be an economic powerhouse in a decriminalized national industry — if it can introduce regulation without empowering a new illicit market.

By sheer numbers, California is easily the nation’s largest market for legal marijuana — which means the state is the biggest bonanza for cannabis sales on the planet.

Once legal commercial sales of recreational cannabis begin sometime next year, California will play host to a $5 billion legal marijuana market, according to a recently released state-sponsored study from UC Davis.

Read more at Cannabis Now

THE ECONOMICS OF HAPPINESS

When you read headlines about the economy, the subject matter usually relates to whether the markets are up or down, the changing value of currency, oil prices or job market statistics, and a deeper inspection of the overall economy will often cite GDP results. But what does all this translate to in our day to day lives? Does it make us all more content when the market is doing well? Does a growth of 10,000 more jobs in a month mean that 10,000 more people are doing a job that brings them satisfaction? Can a thriving economy accurately fulfill our aspirations? Is growth making us happy?

Even GDP’s creator, Simon Kuznets, stated that “[t]he welfare of a nation can scarcely be inferred from a measurement of national income” in 1934. Do we need to find new economic indicators, ones better suited to providing contentment and a feeling of prosperity?

The GDP you’ve likely heard of is an acronym for Gross Domestic Product. GDP represents the total dollar value of all goods and services produced over a specific time period. For simplicity’s sake, let’s say if in 2016, as a country, we produced $100 worth of goods and services, and in 2017 we produced $103. Economists would tell us our economy has grown three percent. Obviously, the United States of America aims to produce far more than $103 worth of goods and services—in 2015, the GDP reached a record high of $18036.65 Billion.

Read more at Dope Magazine

BAS Provides Bulk Cannabis Oil to CA Market

California lab produces 60 kilos of cannabis oil per month.

The idea of bulk cannabis oil being sold at wholesale rates and rebranded under different names is likely a foreign concept to the end consumer, but this type of business is the bread and butter for BAS Research. Located in an industrial area in Berkeley, California, the lab was the first in the state to receive a city permit to both manufacture and process cannabis oil. The reason the city of Berkeley was keen to issue such a permit involves the fact that BAS works exclusively in C02 extraction, a method that — unlike other forms of creating ultra-potent cannabis oil — does not involve the use of volatile solvents.

According to Chief Strategy Officer Ernie Arreola, the 6,000-square-foot facility processes about 60 kilos of cannabis oil per month, which equates to roughly 2,000 pounds of trim and cannabis buds.

Read more at Cannabis Now

‘Post-Cable’ News Network Sets its Sights on Cannabusiness

Cheddar is an innovative “post-cable” business news network that broadcasts live from the floor of the NYSE — and they’re looking to Cannabis Now for input on the growing cannabis industry.

The way we consume broadcast media is changing; the last time you enjoyed your favorite TV show, chances are you were streaming it — and the last time you saw a news story break, it was probably online.

Cheddar founder, Jon Steinberg, saw the power of the internet as a vehicle for news and entertainment during his time as President and COO of Buzzfeed. He envisioned a fresh, socially relevant business news network that harnessed that same medium — with one finger on the pulse of the market and another testing the shifting winds of the cultural zeitgeist.

Read more at Cannabis Now

$70 Million Acquisition Puts High Times in Oreva Capital’s Portfolio

High Times was founded in 1974 by outlaw publishing icon Tom Forcade, who used the profits from his drug smuggling operation to fund the early issues. The magazine has gone through many changes since then, but it has always remained under the private ownership of Forcade or his heirs — until now.

Oreva Capital, an investment firm founded by current High Times CEO Adam Levin, led the acquisition, which is valued at $70 million and gives the holding company a controlling interest.

In an exclusive interview with Cheddar, Levin said he will work as an interim CEO while Oreva “put[s] the right team into place at High Times,” and expressed excitement over the new opportunities for the publication and brand, which will now largely operate out of Los Angeles, California.

Read more at Cannabis Now

Return of the Industrial Hemp Industry

Shaping the new hemp economy in America.

In 2012, Ryan Loflin, 41, had a successful business building designer homes from reclaimed barnwood. But in 2013, Loflin defied federal law and converted 55 acres of alfalfa on his family farm in southeastern Colorado into the first hemp field grown in the United States since cannabis prohibition began over 70 years ago.

“It’s all about job creation, that’s the whole point of this industry,” says Loflin, “To get small town America back to having jobs that are profitable. The end result in rural America is going to be pretty outstanding. It has so many uses… everything except glass can be made from hemp, it’s a special crop.”

Read more at Cannabis Now

No Green Flag for Cannabis in NASCAR

America’s top stock-car competition told a driver to remove the logo of his top sponsor from his car because it was a marijuana company.

You could say America’s premier motorsports competition is getting left behind — NASCAR is having a hard time.

One of the biggest crowds to come out to a NASCAR oval last year — 157,000 people — was there for college football, not stock-car racing. It may have been the biggest crowd at any NASCAR track all season long, as the Guardian reported.

Read more at Cannabis Now

From Outlaw to CEO

A historical exploration of how distributors shaped the modern cannabis market.

The modern cannabis industry continues marching towards legalization; 29 states have medical cannabis laws of some sort, although access to medicine varies radically. Several states also have forms of adult-use legalization and there are new and exciting innovations in products and packaging almost daily. The market has come a long way from the shadows of prohibition, cannabis is on track to be a multi-billion dollar legal industry in the 21st century. But, although cannabis has been widely used and cultivated for thousands of years and remains popular today, it did not become regularly available commercially until the 1960s, where the march began.

1937-1960s: “Out of the Dark, Into the Light”

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Las Vegas Recreational Sales Begin July 1

Viva Pot Vegas! Sin City has fully embraced the tourism potential of recreational cannabis, and come July 1, all bets are off. The city will finally see just how big a win cannabis will be for the economy.

Nevada is angling to be the first of the states that legalized last November to begin the sale of cannabis to adults for recreational use.

Last November, Question 2 was approved 602,400 (54.4 percent) to 503,615 (45.5 percent). The civil right’s aspects of the bill — protection for adult possession of up to one ounce of flower and a quarter-ounce of hash — went into effect January 1. But like other states who just passed decriminalization and legalization laws, Nevada needs some time to get the taxes and distribution mechanisms dialed in.

Read more at Cannabis Now