Episodes
-
What happens when a 115-year-old family farm bets its entire legacy on the future of cannabis? You get New York’s top-selling beverage and vape brand, bringing in over $75M in retail sales.
In this episode of High Spirits, host AnnaRae Grabstein holds down the fort while Ben Larson is away on paternity leave. She sits down with Eddie Brennan, CEO of ayrloom, to dissect their meteoric rise in the New York market and how they utilized centuries of agricultural and alcohol distribution expertise to dominate cannabis. Plus, the episode kicks off with an exclusive, boots-on-the-ground debrief from Laura Fogelman, Chief of Staff at PAX, who sharing her firsthand, unfiltered notes from inside day one of the historic DEA rescheduling hearings.
The DEA Hearing Inside Scoop: Why the recent DEA hearings had tighter security than a fortress, who was actually in the room, and how the DEA is vigorously defending Schedule III.The Blueprint for $75M in Retail Sales: How ayrloom scaled to millions of units in New York by prioritizing true vertical integration and agricultural consistency.Borrowing from Big Alcohol: Why hiring from CPG giants like Anheuser-Busch and Proctor & Gamble beats relying solely on cannabis industry transplants.Navigating the Looming Hemp Cliff: Eddie’s candid, changing outlook on the future of the hemp-derived THC beverage market ahead of upcoming November regulations.
What You’ll Learn
Meet the Guests
Eddie Brennan is the President of Beak & Skiff and the CEO of ayrloom. As a fifth-generation leader of a 1,000-acre New York apple orchard, Eddie successfully pivoted the legacy farm into a top 10 national hard cider brand (1911 Established) before betting the farm on regulated cannabis and hemp-derived beverages.Laura Fogelman is the Chief of Staff and Head of Strategic Communications at PAX. With a deep background in public affairs and brand strategy, Laura sits at the intersection of product innovation and federal cannabis policy reform.
Why Tune In?Whether you are trying to navigate shifting state regulations or scale a beverage brand across state lines, this conversation delivers an essential masterclass in applying institutional CPG discipline to the chaotic realities of modern cannabis.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
The cannabis industry is sprinting toward major U.S. stock exchanges, but a high-stakes showdown in Washington could completely rewrite the rules of the game.
On this episode of This Week in Cannabis Live, host Jay Rosenthal and the Cultivated Media team (Jeremy Berke) are joined by regular panel experts AnnaRae Grabstein (High Spirits) and Marc Hauser (Cannabis Musings) to break down a massive transparency battle unfolding at the DEA.
As major operators find creative new legal pathways to land on the NYSE, the federal government is preparing to hold its historic Schedule III rescheduling hearings entirely behind closed doors. From "prohibitionist theater" in DC to trade association collapses in Canada, the panel cuts through the noise to show operators, entrepreneurs, and executives where the industry is actually heading.
What You’ll Learn:
The "Medical-Until-Retail" Loophole: How Glass House Brands followed Trulieve's fast follow to the NYSE by deconsolidating its supply chain, and what it means for up-supply chain operators.The DEA’s Secret Hearings: Why the public and media are being locked out of the historic Schedule III rescheduling trial, and the grassroots legal effort to force a live stream.The Skepticism Behind Schedule III: Will the DEA actually defend cannabis reform in court, or are we witnessing performative prohibitionist theater?Why Trade Associations are Failing: What the sudden shutdown of the Cannabis Council of Canada teaches us about fractured supply chain desires and industry normalization.The Federal Lobbying Boom: Why Washington lawyers and lobbyists are the biggest financial winners of the current regulatory whiplash.Meet the Panel:
Jay Rosenthal & Jeremy Berke: Co-founders of Cultivated Media, the leading daily briefing for cannabis business and policy professionals. AnnaRae Grabstein: Regular panel guest, cannabis compliance expert, and co-host of High Spirits: The Cannabis Business Podcast. Marc Hauser: Cannabis legal strategist and author of Cannabis Musings.Why Tune In?
If you are an operator trying to project your 2026 tax burden, a hemp brand surviving daily regulatory whiplash, or an investor tracking macro capital inflows, this breakdown is essential. The Cultivated panel uncovers the hidden structural risks of asset deconsolidation and gives you a front-row seat to the most consequential federal drug policy battle in fifty years.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Missing episodes?
-
Live from the media stage at IgniteIt Chicago, High Spirits co-host AnnaRae Grabstein conducts five lightning-round interviews with the industry’s sharpest minds. From the realities of major M&A integration and enterprise AI deployment to a wild on-stage metaphor involving a literal caterpillar, this special bonus episode captures the exact energy, momentum, and anxiety of the current market.
Featuring insights from Patrick Lane, Ed Keating, Sarah McLaughlin, Jordan Eisenstat, and Dr. Lucas McCann.
What You’ll Learn:
Data-Driven AI: How Claude and custom AI tools are replacing manual analytics for conference organizers and content creators.Navigating Consolidation: The operational reality of merging with your top competitor and how to manage staff during a surprise buyout.Formulation & Hemp Risk: Why the upcoming November hemp regulations are forcing a strategic pivot for edible and beverage brands.The Global Opportunity: How Canadian export data shows a clear survival blueprint for lean American operators looking overseas.Why Tune In?
Get a seat on the expo floor and hear exactly how top cannabis executives, PR strategists, and scientists are preparing their businesses for the next 12 months of federal policy changes.
Timestamps:
0:00 - Live Podcast Kickoff with Patrick Lane (IgniteIt)
5:30 - M&A Data & Vendor Shakeouts with Ed Keating (Emerald Intel)
14:25 - Why Gummies Dominate the Market with Sarah McLaughlin (Melt Make)
20:45 - AI Disrupting PR Workflows with Jordan Eisenstat (Marino PR)
29:20 - Bold Policy Forecasts & Global Markets with Dr. Lucas McCann (CannDelta)
36:30 - Final Wrap-Up
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
The federal government has officially rewritten the history books by shifting medicinal cannabis to Schedule III—and Glass House Brands is making a massive, unprecedented chess move to capitalize on it.
About This EpisodeIn this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Graham Farrar, Co-Founder, President, and Chief Cannabis Officer of Glass House Brands. Graham breaks down Glass House’s recent structural deconsolidation to position itself as a 100% medicinal company ready for a historic NYSE up-listing. The trio dives deep into why the DEA's recent actions aren't standard bureaucracy, how the Dormant Commerce Clause will eventually force a 50-state open market, and why the West Coast is uniquely positioned to dominate the global cannabis stage.
The Deconsolidation Strategy: Why Glass House split its retail operations from cultivation to align with federal Schedule III protections and target a major US stock exchange listing.Reading the DEA’s Playbook: Inside the unexpected speed, proactive drug code updates, and "pendency rules" that show the current administration’s true intention to move fast.The Dormant Commerce Clause & Interstate Trade: Why state-level protectionism will inevitably fall, and how shipping bulk, non-final form cannabis circumvents current regulatory gridlocks.The European Premium: Graham's key takeaways from Berlin on why international markets are willing to pay a premium for California culture and sun-grown genetics.
What You’ll Learn
Meet the GuestGraham Farrar is the President, Co-Founder, and Chief Cannabis Officer of Glass House Brands (NEO: GLAS.A.U) (OTCQX: GLASF), one of the largest vertically integrated cannabis companies in the United States. A serial entrepreneur and tech alumnus (including being part of the founding teams at Software.com and Sonos), Graham has spent the last decade building Glasshouse into a powerhouse that operates the largest legal greenhouse facility in the world in Carpinteria, California. Beyond cannabis, he is a dedicated music enthusiast who served on the board of the Santa Barbara Bowl for 18 years.
Why Tune In?If you are an operator, investor, or executive waiting for "the other shoe to drop" on scheduling, this episode is a blueprint for proactive leadership. Learn how the biggest players are shifting from a defensive posture to an offensive, global scale strategy before the ink on federal reform is even dry.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Cannabis Business News Roundup w/ Ben & AnnaRae
The landscape of cannabis and hemp policy is shifting beneath our feet faster than ever, forcing operators to constantly adapt to changing regulatory enforcement and market expansions. In this rapid-fire roundup, hosts Ben Larson and AnnaRae Grabstein dial in from across the country to break down the massive institutional shifts happening this week in public markets, state enforcement, and national policy.
In this episode, Ben joins directly from a break at the invitation-only CANRA (Cannabis Regulators Association) meeting in Oklahoma City to share what regulators are saying behind closed doors about cannabinoid access. Together, they unpack the structural drag of Metric track-and-trace fees, the strategic pivot toward debt over equity capital, and the industry-altering milestone of Trulieve listing on the New York Stock Exchange. They also discuss California's clunky new voluntary AI packaging review tool, state-level updates from Louisiana and Idaho, and a hopeful push toward contiguous, multi-state laboratory testing standards.
What You’ll Learn:
Behind the Scenes at CANRA: What state regulators really think about where hemp and cannabis cannabinoids should be sold.The Track-and-Trace Financial Drag: Why operators and regulators alike are pushing back against the operational costs of Metric data-point fees.Trulieve on the NYSE: What Trulieve’s historic New York Stock Exchange debut means for cannabis public equities and broader market liquidity.AI vs. Regulatory Reality: A critique of the California DCC's new voluntary AI image tool designed to flag youth-appealing packaging.Why Tune In? This conversation delivers unfiltered, executive-level context on the financial and regulatory infrastructure changes that will dictate how your business secures capital, designs packaging, and moves product across state lines.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
As the cannabis industry matures, the conversation is shifting from basic intoxication to precise, effect-based wellness. But how do we bridge the gap between consumer anecdotes and true scientific validation for minor cannabinoids?
About This EpisodeIn this episode of High Spirits, Ben Larson and AnnaRae Grabstein sit down with Alleh Lindquist, CEO of FloraWorks, to explore the rapidly evolving landscape of minor cannabinoids. Alleh shares how FloraWorks transitioned from a wholesale supplier to a clinical research pioneer, paving the way for CBN to become a mainstream, trusted ingredient in the global wellness market. They dive deep into the regulatory hurdles of the upcoming hemp landscape, the reality of running a 1,000+ person clinical trial, and the incredible therapeutic potential of CBN beyond sleep.
The Clinical Blueprint for Cannabinoids: Why a 50mg dose of pure CBN outperformed melatonin in a landmark double-blind, placebo-controlled sleep study—and what this means for product formulation.Navigating the Regulatory Gray Zone: How to structurally and legally position structure-function claims (like "improving sleep quality") on product packaging without triggering FDA disease claims.The Future of Cannabinoid Research: A look into FloraWorks’ ground-breaking collaboration with the Salk Institute, where CBN is showing massive potential in reversing age-related cognitive decline and protecting neural pathways.Embracing Uncertainty as a Leader: Actionable advice on how operators can survive current market instability while building a 10-year vision for a stigma-free, mature industry.
What You’ll Learn
Meet the GuestAlleh Lindquist is the CEO of FloraWorks, a specialized cannabinoid data and technology company dedicated to the clinical verification and commercialization of minor cannabinoids. Under his leadership, FloraWorks has standardized its patented manufacturing processes to approach FDA dietary ingredient pathways and pioneered massive real-world evidence trials. Alleh is a recognized voice in navigating frontier markets, dedicated to collaborating with researchers, clinicians, and major brands to professionalize the cannabinoid supply chain.
Why Tune In?If you are an operator, entrepreneur, or investor looking to understand how the cannabinoid market will survive shifting regulations and integrate into the broader healthcare and dietary supplement spaces, this conversation provides the ultimate scientific and strategic roadmap.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
This week on This Week in Cannabis Live, Jay Rosenthal, Jeremy Berke (Cultivated), plus Ben Larson of High Spirits and Marc Hauser of Cannabis Musings, break down the biggest stories in cannabis business and policy.
New York's fiscal 2027 state budget locks in roughly $10 million for the seed-to-sale track and trace system — a win Cultivated first reported after an interview with Assemblymember Landon Dais.
Curaleaf announced a 1-for-3 reverse stock split ahead of a potential Nasdaq uplisting, with CEO Boris Jordan targeting a major U.S. exchange as the company consolidates its share price.
And a federal judge dismissed SAM's lawsuit challenging the Trump administration's Medicare hemp coverage program, ruling the group lacked standing to challenge the CMS initiative covering up to $500 in hemp-derived products annually for eligible patients.
Plus, Jay shares highlights from Thursday's Midwest Cannabis Forum in Chicago.
This Week in Cannabis Live airs every Friday at noon ET/9 AM Pacific on LinkedIn and YouTube. Subscribe at cultivated.news!Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Nothing in the cannabis and hemp markets moves in a straight line, and lately, the operational whiplash has been more intense than ever. In this unpolished and deeply personal episode, hosts Ben Larson and AnnaRae Grabstein step away from the usual guest format to unpack what it actually takes to lead when the industry forces you to slam on the brakes.
About This EpisodeIn Episode 139, Ben and AnnaRae pull back the curtain on their own recent business realities, reflecting on the transition from the hyper-growth of hemp beverages in '24 and '25 to the pragmatism required in 2026. They dive into the personal tax of saying "yes" to the wrong revenue, the power of setting firm operational boundaries, and how the introduction of AI is fundamentally restructuring executive advisory teams. This raw conversation offers a real-time case study in founder reinvention, governance, and maintaining a high-spirits mindset during economic and regulatory contraction.
The Power of Discernment: When turning down high-dollar contracts can actually create the critical operational space needed to support your core portfolio.Surviving the Whiplash: Strategic tactics for transitioning your leadership style from an optimistic growth founder to a pragmatic, survivalist CEO.AI as an Executive Advisory Board: How to build a digital brain trust to rapidly stress-test business decisions without the overhead of expanded human teams.What "Adulting" in Cannabis Means: Why consistency, transparency, and building data-backed trust with your board outweighs performative professionalism in volatile markets.
What You’ll Learn
Why Tune In?If you are a cannabis or hemp operator currently navigating market realignments, board dynamics, or shifting regulatory headwinds, this episode provides the grounded validation and strategic fundamentals necessary to trade fear-based opportunism for sustainable, long-term business health.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Join the teams from Cultivated, High Spirits, and Cannabis Musings for your weekly roundup of the biggest stories in cannabis.
Brazil's opening cannabis market — the regulatory frameworks, foreign capital flooding in, and why local partnerships are everything
The DEA just announced it's opening a new registration window for cannabis manufacturers, growers, labs, and distributors — and with nearly 400 dispensary applications already in the pipeline, the race is on. We break down what operators need to know before applying, including the disclosure questions that are most likely to sink an application.
Then we're joined by Judson Hill of Fine Fettle for a live segment on what Georgia's newly signed medical cannabis expansion means on the ground — what changed, who it affects, and what comes next for one of the more closely watched state programs in the country.
We'll also get into:
Indiana's Republican push for medical cannabis in 2027 — and how Trump's rescheduling move is giving political cover to fence-sitters
The East Coast Eighth Index — four of five tracked states hit all-time pricing lows in May, and price convergence is accelerating across the region
Earnings season recap — what we learned (and didn't) from a busy week of cannabis financials, including our conversation with Cronos Group CEO Mike Gorenstein
This Week in Cannabis News is produced by Cultivated, your daily source for cannabis industry intelligence. Subscribe at https://cultivated.news.Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
In an industry squeezed tight by relentless global price compression, cannabis operators can no longer afford to pay a premium for operational inefficiency. Yet, an invisible enemy is quietly draining up to 40% of cultivation yields across the country.
About This EpisodeIn this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein go back to the roots of the industry to explore the critical, often misunderstood world of plant genetics and pathogen prevention. They sit down with Melanie Nash, CEO of TUMI Genomics, to pull back the curtain on how commercial operations are inadvertently spreading devastating crop diseases and why treating pathogen management as a business system—rather than a crisis response—is the ultimate lever for protecting wholesale profit margins.
The Invisible Profit Killers: The big three pathogens—Hop Latent Viroid (HLVd), Fusarium, and Pythium—and why HLVd alone is costing untested facilities roughly 1 in every 10 pounds produced.The Tissue Culture Myth: Why standard tissue culture is just "mini-cloning" and the crucial scientific difference behind true apical meristem tissue culture for cleaning genetics.Ag-Style Operational Infrastructure: How sophisticated cultivators are shifting away from risky, time-consuming in-house pheno-hunting to focus on strict quarantine and preventative testing protocols.CEO Evolution & Scaling with AI: How Melanie transitioned from a hands-on COO to a strategic CEO using the EOS framework, while leveraging data and AI to build predictive pathogen tracking models.
What You’ll Learn
Meet the GuestMelanie Nash is the Chief Executive Officer of TUMI Genomics. She brings over a decade of deep operational infrastructure experience across the cannabis supply chain, moving from early retail management to leading large-scale nursery operations in California. Previously serving as COO at Dark Heart Nursery—where her team first identified Hop Latent Viroid in cannabis—and later as COO at Purple City Genetics, Melanie possesses a rare blend of deep scientific credibility, operational instinct, and a passion for helping cultivators build scalable, disease-free business models.
Why Tune In?If you are a cannabis executive, entrepreneur, or cultivation director, this episode is a masterclass in operational risk management. You will walk away with actionable insights on how to secure your supply chain, audit your testing lab’s scientific validity, and stop catastrophic crop losses before they hit your P&L.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Is the "Christmas of BevAl" about to change forever? While federal policy looms like a shadow, the world’s largest retailers and data giants are leaning into a category that is proving to be 100% incremental to the bottom line.
About This Episode: In this episode, Ben Larson and AnnaRae Grabstein dive deep into the numbers with Jason Zelinski, VP of North American Retail at NielsenIQ. As one of the most prominent voices translating THC beverage performance for mainstream retail, Jason shares exclusive insights into why Target is expanding its hemp-derived drink program and how data is finally legitimizing the cannabis-adjacent market.
The "Target" Strategy: Why a $107B retailer is expanding into 300+ stores just six months before a potential federal ban.The Incrementality Argument: Proof that THC beverages aren't just "robbing Peter to pay Paul" but are actually bringing net-new customers to retail.The $11 Billion Prediction: Jason breaks down the "back of the napkin" math on how big this category could truly become with full distribution.Consumer Trends: Why 10mg is becoming the new "sweet spot" for shoppers and why soda is the leading form factor for new adopters.
What You’ll Learn:
Meet the Guest:Jason Zelinski is the VP of North American Retail at NielsenIQ. With two decades of experience at the intersection of retail and data—including a ten-year tenure in merchandise operations at Walmart and Sam’s Club—Jason has become a critical bridge between the emerging THC market and traditional CPG. He is a leading expert on how grocery, convenience, and mass-market channels are adapting to the explosion of hemp-derived beverages.
Why Tune In?If you are an operator or investor, this is the data-backed roadmap you’ve been waiting for. Learn how to speak the language of "Category Management" to get your products on mainstream shelves and understand the critical benchmarks for the industry as we head toward the 2026 "July 4th Christmas."
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
The DEA has finally spoken, but the path forward for cannabis operators is far from simple. As we move into a post-rescheduling world, the industry is bracing for a complex, bifurcated future that could redefine winners and losers overnight.
About This Episode:
On this episode of High Spirits, hosts Ben & AnnaRae go deep into the technical and human sides of the rescheduling order with two of the industry’s sharpest minds: Gail Rand (Founder of Grand Consulting) and Michael Harlow (National Cannabis Lead at CohnReznick). We explore the potential for retroactive 280E relief, the looming battle for market share, and why your business fundamentals matter more now than ever before.
The 280E Retroactivity Debate: Can operators actually expect tax refunds for prior years, and how should you be planning your cash flow today?The Bifurcation Challenge: Why the industry might split into distinct Medical vs. Adult Use silos and what that means for your licensing strategy.M&A and the Horizontal Shift: How the move toward Schedule III could trigger a wave of consolidation and a departure from the traditional vertical integration model.Operational Readiness: Why "cleaning up your books" is the most critical move you can make while waiting for federal agencies to harmonize their rules.
💡 What You’ll Learn:
🌟 Meet the Guests:Gail Rand is a CPA and the Founder of Grand Consulting, bringing over 30 years of finance expertise to the industry. Her journey began as a patient advocate, helping pass Maryland’s medical cannabis legislation to secure access for her son, and she eventually became the CFO of the state’s first cultivation licensee.
Michael Harlow is the Managing Partner of CohnReznick’s DC Metro office and leads the firm’s National Cannabis Practice. With a decade of experience advising everyone from single-site dispensaries to the largest MSOs, Michael is a preeminent expert on the tax, accounting, and regulatory hurdles facing cannabis businesses.
📅 Why Tune In?If you are an operator or investor trying to make sense of the "gobbledygook" of federal policy, this conversation provides the roadmap you need. Ben & AnnaRae cut through the noise to help you understand how to protect your margins and position your business for the next era of American cannabis.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
It's been one week since cannabis rescheduling to Schedule III was announced — and the questions keep multiplying. Jay Rosenthal, Marc Hauser, and Ben Larson unpack the real-world implications for operators, lawyers, accountants, and states navigating this seismic shift.
The DEA registration question: does it matter for 280E relief?
In this episode:
The "Schrödinger's Cannabis" problem — how the same product can be Schedule I and Schedule III simultaneously
State-level ripple effects: South Carolina, Nevada, Indiana, Texas, and more
The 60-day application window and what it means (or doesn't)
Congressional pushback: an appropriations bill that could defund rescheduling?
Political dynamics: Trump, Kim Rivers, and the hemp connection
4/20 data: pre-rolls dominate, infused pre-rolls surge nationally
Plus clips from Mike Feldman (NABIS General Counsel) and Rick Bashkoff (Lit Alerts) on what rescheduling means operationally and at retail.
Hosts:
Jay Rosenthal, Cultivated
Marc Hauser, Cannabis Musings
Ben Larson, High Spirits
Streamed live May 1, 2026
Join us every Friday at 12PM ET / 9AM PT
🔔 Subscribe for weekly cannabis industry analysis, news, and live conversations.Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Is it time to get giddy or stay skeptical? The federal rescheduling of cannabis is the biggest regulatory shift in decades, but it comes with a complex web of DEA registrations and international treaty considerations. Join Ben Larson and AnnaRae Grabstein as they sit down with top legal minds Alyssa Samuel (Husch Blackwell), Eric Berlin (Dentons), and Michael Cooper (Madison J Solutions) to unpack what happens when the DEA portal opens and how you can position your business to be a winner in this new era.
The DEA Registration Roadmap: How the new 60-day registration window works and why being "deemed compliant" is the first step toward federal legality.The Interstate Commerce Conflict: Will Schedule III trigger the Dormant Commerce Clause and finally break down the "closed-loop" state systems?Banking & Capital Markets: Why Schedule III status could be the "mic drop" moment for NASDAQ listings, SBA loans, and institutional investment.The Future of Adult-Use: The legal hurdles involving international drug treaties and the upcoming June hearing that could decide the fate of recreational markets.
💡 What You’ll Learn:
Alyssa Samuel: An attorney at Husch Blackwell with over a decade of experience in the Colorado and multi-state markets, specializing in complex regulatory compliance.Eric Berlin: Lead of the US and Global cannabis sector at Dentons, the world’s largest law firm, bringing 18 years of specialized cannabis legal expertise.Michael Cooper: Founder of MadisonJay Solutions and Chair of Policy for the NCIA, Michael is a leading voice in regulatory strategy for cannabinoids and spirits.
🌟 Meet the Guests:
📅 Why Tune In?The "Knife Fight" for survival just got a lot more technical. If you are a cannabis operator, investor, or policy wonk, this episode provides the direct legal clarity you need to navigate the next six months of federal transition without falling for industry misinformation.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
What does rescheduling really change — in the next 90 days, the next year, and the next decade?
Jay Rosenthal and Jeremy Berke from Cultivated are joined by AnnaRae Grabstein and Ben Larson from the High Spirits podcast and Marc Hauser from Cannabis Musings for a live breakdown of the stories that defined this week in cannabis.
Rescheduling: We're bringing in a special guest to help cut through the noise — what does moving cannabis from Schedule I to Schedule III actually change for operators? What happens to 280E? What does it mean for banking, for institutional investment, for the broader legitimacy of the industry? And critically: what doesn't change at all?
Subscribe → https://cultivated.newsHave a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Is the "growth at all costs" era of the MSO officially over? According to Richie Proud, success in today's cannabis market isn't about having the most square footage—it’s about operational efficiency, consumer engagement, and a "flower-first" mentality.
About This Episode: On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Richie Proud, CEO of iAnthus. Since taking the helm in 2023, Richie has led a strategic restructuring of one of the industry's most storied public companies. He shares how his background in high-stakes retail at Abercrombie & Fitch and Hollister is shaping the way iAnthus connects with consumers in complex medical markets like Florida and emerging adult-use hubs in the Northeast.
💡 What You’ll Learn:
The "Flower-First" Strategy: Why iAnthus is prioritizing craft-quality genetics and cultivation over sheer canopy size to drive brand loyalty.Operational Restructuring: How Richie moved the company from a regionalized model to a "centralized strategy, localized execution" framework.The Florida Market Deep Dive: Insights into the unique medical consumer demographic and why patients "vote with their feet" in a vertical-only state.Transitioning from Big Retail: How to adapt traditional CPG playbooks to the unpredictable and highly regulated world of cannabis without failing.🌟 Meet Richie Proud:
Richie Proud is the CEO of iAnthus, a vertically integrated MSO with a significant footprint across the East Coast. With over two decades of experience in retail leadership—including executive roles at Abercrombie & Fitch, Hollister, and Curaleaf—Richie brings a consumer-obsessed, data-driven approach to cannabis. He is currently focused on steering iAnthus toward sustainable EBITDA expansion and refining its portfolio of brands like The Vault and Cheetah.
📅 Why Tune In?
If you are an operator or investor looking for a masterclass in the "stabilize and grow" phase of the cannabis business cycle, this conversation is essential. Richie provides a transparent look at how a public MSO can pivot from legacy baggage to become a lean, consumer-centric competitor in 2026.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
On This Week in Cannabis Live, High Spirits hosts Ben Larson & AnnaRae Grabstein join the team at Cultivated for a high-stakes news roundup. From the logistical nightmare of surging oil prices to the "race to the bottom" for cannabis pricing on the East Coast, the crew breaks down the macro-trends hitting operators' bottom lines right now. Plus, a look at the latest hemp-derived THC legislation and the "de-banking" saga that proves no one is safe from the whims of big banks.
💡 What You’ll Learn:
The Logistics Crunch: How $110 oil is forcing distributors like Nabis to use AI and "secure roots" just to keep trucks moving.The "Massachusetts Effect": Why East Coast markets are rapidly compressing toward $23 eighths and how operators must find efficiency to survive.Hemp vs. The Farm Bill: A breakdown of the Klobuchar-Rand Paul hemp bill and whether "gas station weed" can actually survive federal scrutiny.The De-Banking Reality: Why even non-plant-touching media companies are getting shut down by Chase and the critical need for financial redundancy.🌟 Meet the Panel:
This episode features a "full house" of industry experts, including hosts Ben Larson (Vertosa) and AnnaRae Grabstein(Wolf Meyer), alongside Jay Rosenthal and Jeremy Berke of Cultivated, and Marc Hauser of Cannabis Musings. This group combines deep expertise in cannabis investment, media, legal policy, and supply chain operations.
📅 Why Tune In?
Whether you're an MSO executive or a craft hemp brand, the "difficulty level" of the cannabis industry just increased. Tune in to hear how the top minds in the space are navigating the current "knife fight" for profitability and where they see the biggest wins (and losses) heading into the rest of the year.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
The hemp beverage industry is thriving, but a federal "cliff" in November could bring it all to a screeching halt. With a looming ban on products over 0.4mg of THC, the stakes have never been higher for operators and consumers alike.
About This Episode:
In this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Dawson Hobbs, EVP of Government Affairs at the Wine and Spirits Wholesalers of America (WSWA). As a key player representing 80% of the nation’s wine and spirits distribution, Dawson provides a high-stakes look at the legislative battle in Washington D.C., the push for a three-tier regulatory model, and why the industry must choose between strict regulation or total extinction.
💡 What You’ll Learn:
The November 2026 Deadline: Why federal funding bills currently threaten to criminalize nearly every hemp beverage on the market.The Power of the Three-Tier System: How the alcohol model of "Producer-Distributor-Retailer" can provide the safety guardrails Congress is demanding.Legislative Strategy for 218 Votes: Why standalone bills matter and how to find champions on the Hill who prioritize public safety over "gas station weed."The "Perfect vs. Good" Trap: Why the hemp industry must stop suing over state regulations if it wants to survive at the federal level.🌟 Meet Dawson Hobbs:
Dawson Hobbs is the EVP of Government Affairs for the Wine and Spirits Wholesalers of America (WSWA). With over two decades of experience navigating alcohol policy, Dawson is one of the most influential voices in Washington regarding the intersection of traditional beverage and emerging THC categories. He leads advocacy efforts for over 380 member companies, bridging the gap between legacy distribution and the future of hemp-derived intoxicants.
📅 Why Tune In?
Whether you are a hemp operator, a cannabis MSO, or a beverage investor, this conversation is your roadmap for the next six months. Dawson breaks down the exact "proof of concept" the industry needs to present to Congress to ensure THC beverages stay on shelves and out of the shadows.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
Is the "show me" state actually showing the rest of the country how to build a sustainable, high-growth cannabis market? In an era where many MSOs are struggling to stay afloat, one family-owned operator is proving that technical expertise and operational discipline are the ultimate competitive advantages.
The "Backwards" Vertical Strategy: Why starting with retail and manufacturing provided a unique advantage in understanding consumer demand before touching a single plant.The Reality of the "Knife Fight": How oversupply in Missouri shifted power to retailers and what it takes for a brand to survive pricing pressure.Winning with Process: The transition from "founder-led hustle" to using EOS (Entrepreneurial Operating System) for clarity and accountability at scale.Breaking into Kentucky: The challenges and opportunities of operating in a new, highly restrictive medical market and the importance of localized pride.
On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein are joined by Boston Dickerson, Founder and CEO of Show Me Organics. Boston shares the incredible journey of scaling a "backwards vertical" business—starting with retail and manufacturing before moving into cultivation—and how he grew the company from a two-person startup to a 350-employee powerhouse across Missouri and Kentucky.
💡 What You’ll Learn:
🌟 Meet Boston Dickerson:
Boston Dickerson is the Founder and CEO of Show Me Organics, one of Missouri’s premier vertically integrated cannabis operators. With a background in biochemistry and a passion for the plant, Boston and his brother Montana have built a diverse portfolio including Blue Sage Dispensaries, Vivid, and Missouri’s Own Edibles. Known for his disciplined approach to capital and operations, Boston is currently leading the company's expansion into Kentucky and eyeing future growth in limited-license markets like Texas.
📅 Why Tune In?
If you are an operator trying to navigate the messy transition from startup hustle to enterprise-level scaling, this conversation is a masterclass. Boston provides a rare, transparent look at the "nos" it takes to get a "yes," the discipline required to raise capital in a down market, and why your business plan shouldn't rely on rescheduling as a lifeline.
Keep your spirits high!Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. -
"Stop shaming my sex and drugs."
On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with the incomparable Tanya Griffin, a multihyphenate entrepreneur who is rewriting the rulebook on what it means to be a "professional" in the cannabis industry. From building the first vertically integrated national franchise to navigating the "crash landing" of the Illinois social equity market, Tanya’s journey is a masterclass in resilience, systems-building, and radical honesty.
We dive deep into the brutal reality of the Illinois retail landscape—where MSOs use MSAs to bypass store caps—and explore Tanya’s provocative thesis: that "dropping into flow states" through cannabis, intimacy, and wellness isn't just a lifestyle choice, it’s a competitive advantage for scaling high-growth companies.
The Illinois "Muddled Mess": An inside look at the X2Vets LLC lawsuit and how MSOs are consolidating power in one of the country's most expensive markets.Franchising vs. Mom & Pop: Can a franchise model provide the operational backbone that social equity operators need to survive against giants like GTI and Cresco?Scaling Sexual Wellness: The "soup-to-nuts" journey of building oOYes, a brand at the intersection of women's health, cannabinoids, and dismantling sexual shame.The Power of Bootstrapping: Why Tanya owns 100% of her companies and her "Crawl, Walk, Run" advice for surviving a market with zero access to traditional capital.
💡 What You’ll Learn:
🌟 Meet Tanya Griffin:Tanya Griffin is the founder of Water and Trees, a growth management firm, and the visionary behind brands like oOYes and Uh huh Honey. With over 35 years of experience building retail companies (from midwifery clinics to dispensaries), she is a prominent deal-maker and consultant in the Illinois market. Tanya is also a fierce advocate for harm reduction through her nonprofit, Save My Life, which provides free Narcan throughout Illinois.
📅 Why Tune In?This isn't your average business podcast. If you’re tired of the corporate "suit and tie" narrative in cannabis and want to hear how raw authenticity and lean operations can win against billion-dollar MSOs, this conversation with Tanya Griffin is required listening.
Have a question for us? Send us a text. We may answer it in the next show!
--
High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
Follow High Spirits on LinkedIn.
We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?
Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high. - Show more
