Episodit
-
Blunt Business speaks with Connie Pechmann, professor of marketing with UC Irvine’s Paul Merage School of Business and an expert in consumer behavior.
She is the lead author of a paper that published in Addiction about research that focuses specifically on the California cannabis retail market, examining purchasing trends and product preferences among young adults (age 21-24) in comparison to older adults (age 25+) from 2018-2021.
Connie shared that the University of California, Irvine, has a long-standing center for research in cannabis, and she wanted to reach a broader audience by publishing her findings in Addiction. She also revealed that her research was funded by a grant from the Bureau of Cannabis Control in California, which allowed her team to obtain data from retailers without having to purchase cannabis for research purposes.
Connie also discussed the analysis of a large dataset on retail sales, focusing on the purchasing patterns of customers with loyalty cards. They noted that this approach allowed them to study legal sales without the complications of obtaining permission to use products on human subjects. They also touched on the issue of obtaining products for research due to legal restrictions, with Connie clarifying that their campus does not cultivate cannabis. The conversation then shifted to the research conducted on the effects of cannabidiol and THC on driving performance, neuropsychiatric symptoms, and stress responses among older adults.
Connie also discussed the challenges and progress of research on cannabis. Connie explained that while research papers are published in journals as soon as possible, studies involving human subjects are facing delays due to bureaucratic hurdles and the need for extensive oversight.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Blunt Business explores the multifaceted landscape of the cannabis industry, focusing on both labor challenges and market dynamics with Marc Rodriguez, Co-Founder and CEO of Green Leaf Business Solutions. We delve into the complexities of high employee turnover rates, ongoing unionization efforts, and the critical need for specialized job training within the sector. The conversation also highlights the current state of the market, including delayed investments due to regulatory uncertainty, the ongoing consolidation of businesses, and the significant growth potential in emerging markets, particularly those legalizing adult-use cannabis. Additionally, experts touch on the potential impact of federal rescheduling and the subsequent tax benefits for companies. The dialogue underscores the dynamic nature of the cannabis industry, emphasizing the need for businesses to adapt and innovate in order to thrive amidst a rapidly evolving landscape.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Puuttuva jakso?
-
Blaze CEO Chris Violas discussed Blaze’s newly updated retail point-of-sale (POS) system, which was designed with efficiency and user-friendliness in mind. The system offers features that enable front-of-house employees to get trained within five to ten minutes and check inventory levels quickly, which makes it highly intuitive. A key feature of this system is its hardware-agnostic nature, allowing dispensaries to use their existing hardware without needing to invest in new equipment.
The development of the system took three years and was heavily influenced by customer feedback, ensuring that it addresses the needs of dispensaries. Early feedback from users has been very positive, with many praising the system's speed and ease of use. This positive reception indicates that the system successfully meets the needs of dispensaries, providing them with a seamless migration path to upgrade their current systems.
The system’s integration with state-regulated systems is a significant advancement, offering benefits for dispensaries of various sizes and budgets. Blaze's approach focuses on flexibility, prompted by longer sales cycles and direct customer feedback. Chris highlighted that the new POS system is easy to use and compatible with a variety of hardware, which makes it accessible to a wide range of dispensaries. This flexibility is further supported by Blaze University, a self-guided training program designed to help new staff quickly understand how to operate the system.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Blunt Business welcomes Tucker Herndon, managing partner at Burr & Forman, who addressed the FTC and FDA's issuance of cease and desist letters to companies marketing Delta-8 THC products that mimic children's snacks. This raises compliance concerns with the Federal Trade Commission Act and the Food Drug Act, highlighting the lack of a clear regulatory framework for hemp-derived products. Herndon noted the potential risks of federal oversight that could override state regulations and emphasized the importance of companies adjusting their marketing practices to prioritize consumer safety over profit. The discussion concluded with Herndon outlining Burr & Forman’s services in regulatory compliance, urging industry players to adhere to laws and proactively engage with authorities to mitigate risks associated with potential regulatory changes.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Pete Sahani, the newly appointed CEO of the Blinc Group, is at the forefront of several groundbreaking initiatives aimed at addressing challenges within the cannabis vaping industry. One of the key strategies introduced under his leadership is a revamped supply chain system designed to mitigate issues faced by smaller companies due to long lead times and international shipping disruptions. This innovative strategy allows customers to order smaller quantities without the burden of large deposits or extended wait times. By maintaining a live inventory in the US, the Blinc Group offers a more responsive and flexible supply chain, ensuring a 60-day supply buffer based on customer needs. This approach not only improves inventory management but also significantly enhances customer satisfaction by providing more reliable and timely access to products.
Sahani has placed a strong emphasis on vape safety and compliance, reinforcing the Blinc Group’s commitment to setting industry standards. The company is actively involved in the Wave Safer initiative, advocating for stringent regulatory standards to ensure the highest levels of product safety and quality. By utilizing ISO and GMP certified suppliers, the Blinc Group underscores its dedication to producing vaping products that are safe, reliable, and of superior quality. This commitment to compliance and safety is crucial in maintaining the trust and loyalty of their customer base, as well as in distinguishing their products in a competitive market.
DOWNLOAD OUR NEWEST EBOOK.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Blunt Business welcomes Autumn Shelton, co-founder and Chief Financial Officer of Autumn Brands. Shelton shares her journey in cultivating 100% pesticide-free cannabis using beneficial insects to maintain a healthy ecosystem. We explore the recent LA Times investigation exposing widespread pesticide use in California's legal cannabis market and discuss the critical role of responsible cultivation practices. Shelton offers insights into the challenges of transitioning to a pesticide-free approach and emphasizes the importance of compliance and consumer safety. Join us as we navigate the complexities of the regulated cannabis industry and highlight the need for stricter regulations to promote a cleaner, more sustainable market.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Larry Scheffler, co-CEO of Planet 13, reveals ambitious plans to propel the cannabis giant into the mainstream limelight through strategic partnerships, innovative product expansion, and aggressive market penetration. Collaborating with UFC star Chito Vera, Planet 13 seeks to fuse its cannabis credibility with a fresh lifestyle brand, tapping into sports, fashion, music, and entertainment realms. This move includes expanding into apparel, accessories, and potentially MMA gear, leveraging the star power of athletes and influencers.
Planet 13's growth strategy also encompasses a multi-pronged approach in Florida, with a rapid expansion plan targeting 10 stores by year-end and a focus on prime locations like Miami for their superstore concept. Additionally, the company is investing in consumption lounges, podcast studios, and unique experiences like a Mike Tyson-themed VIP room.
Scheffler remains optimistic about the future of cannabis in Florida, especially with the potential passage of Amendment 3. He envisions Planet 13 becoming a household name, synonymous with quality cannabis and a vibrant lifestyle brand.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Craig Small, Attorney with Clark Hill returns for a discussion on the reclassification of cannabis and its far-reaching ramifications for the firearm industry. We explore the intricate legal conflicts between federal and state cannabis laws and their profound impact on gun owners. Our conversation unveils how reclassifying cannabis from a Schedule I to a Schedule III substance could potentially harmonize federal regulations, eliminating the legal peril for cannabis users who are also firearm owners. However, we also address the heightened scrutiny expected from the ATF towards firearm dealers catering to cannabis users. The dialogue further delves into the intersection of mental health and cannabis use, spotlighting it as a critical, yet overlooked, aspect of this evolving issue.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
We speak with Deborah Saneman, the visionary CEO of Wurk. She explores the dynamic rebranding journey of Wurk and the transformative evolution of the cannabis industry over the past decade. Deborah shares her expertise on how data-driven decisions are revolutionizing workforce management and employee benefits in this burgeoning sector.
We delve into the challenges and opportunities within the cannabis industry, discussing the potential impact of federal legalization, the importance of robust employee benefits, and the strategies to overcome high turnover rates. Deborah also sheds light on the role of AI in the recruitment process and the need for effective self-presentation in the digital age.
Furthermore, we examine the implications of cannabis rescheduling on business investments and compliance, as well as the current trends in the job market. Deborah offers her perspective on the salary discrepancies within the industry and the factors that attract top talent to the cannabis space.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Paul Weaver, Head of Cannabis at Boston Beer Company, takes us through the company's bold venture into the cannabis market with their THC-infused iced tea product, Teapot. Discover how Boston Beer Company's expertise in crafting high-quality teas led to the creation of this refreshing, non-carbonated, ready-to-drink cannabis beverage, available in various blends for different times of the day.
In our conversation, Paul shares the strategic growth plans for Teapot, including expanding into new flavors and markets across Canada. We explore the shifting consumer habits towards dispensaries and the potential for converting these into convenience stores to better showcase a variety of cannabis products. Paul and Brasco highlight the impressive performance of cannabis beverages in markets like Minnesota and Arizona, where they have even outsold traditional alcoholic beverages.
We also delve into the potential of consumption lounges as standalone businesses, discussing the opportunities and challenges of incorporating cannabis-based drinks into the traditional restaurant model. Paul provides insights on the importance of clear regulations and responsible entrepreneurship in creating a novel sensory experience for consumers.
Paul and Brasco discuss the significance of a recent survey showing daily cannabis use surpassing daily alcohol use in the US for the first time. They emphasize the need for a balanced product portfolio and the importance of moderation and responsible use in this changing landscape.
The episode also touches on the therapeutic potential of cannabis, the ongoing rescheduling plan, and the need for objective clinical research to address skepticism and explore long-term health impacts. Paul highlights Teapot’s efforts to support the community, including a partnership with Pardons Canada to help individuals remove cannabis convictions from their records.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
We welcome Jay Virdi, Chief Sales Officer for Specialty Practices at HUB International, to discuss the evolving landscape of the cannabis industry and the complex world of cannabis insurance.
Jay discusses the intricacies of interstate commerce limitations and the potential scenarios if neighboring states collaborate on cannabis trade before full federal legalization. They delve into the recent DEA rescheduling of cannabis to Schedule III, its impact on the industry, and the possible effects on insurance premiums and coverage.
The conversation also covers the substantial growth of HUB International's cannabis practice group, now serving over 1,000 clients with a dedicated team of more than 300 members. Jay shares insights into alternative risk financing strategies, such as parametric derivatives and captives, and the proprietary HUB Cannabis Benefits Captive designed to cover employees.
Additionally, we discuss the increasing number of insurance carriers entering the cannabis market and the ongoing challenges cannabis businesses face in securing comprehensive coverage. They highlight the importance of specialized knowledge in underwriting and risk management to address the unique needs of cannabis-related businesses.
Listeners will gain valuable perspectives on how HUB International leverages its expertise in emerging markets, including psychedelics and cryptocurrencies, to support the cannabis industry. Jay also emphasizes the company's commitment to human-centric programs and the integration of artificial intelligence to enhance service delivery.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
We dive deep into the evolving landscape of the cannabis industry from a PR perspective with Jordan Isenstadt, SVP, Marino PR / Founder of Marino Cannabis Practice. In this episode, we explore the synergy between strategic PR efforts and the dynamic changes in the cannabis sector, particularly in light of the recent DEA rescheduling of cannabis.
Jordan shares how he prepares clients to comment on pivotal industry moments like rescheduling reform and safe banking, which play a crucial role in destigmatizing and normalizing cannabis. He also discusses the tailored media strategies they employ, balancing mainstream and trade outlets, and the unique challenges faced by different types of cannabis businesses.
From matching clients with the right media platforms to managing the shifting dynamics of news coverage, Jordan and our host Brasco navigate the complexities of promoting the cannabis industry. They touch on the importance of local media, addressing state-specific trends, and the careful messaging needed to avoid misrepresentation.
Whether you’re a cannabis industry insider or just curious about the interplay between media and marijuana, this episode offers valuable insights into the strategic communications that shape public perception and policy. Tune in to learn how effective PR can drive acceptance and growth in this rapidly changing field.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
More of Blunt Business, recorded live from the floor of Benzinga Miami 2024. We hear from three key figures in the cannabis investment space:
Matt Hawkins, Managing Partner at Entourage Effect Capital, a leading private equity firm focused on the cannabis industry. Matt shares his expert perspective on the current investment landscape, discussing emerging trends, challenges, and opportunities for investors in the cannabis space.
Rick Cytrynbaum, Founder and CEO of VIST LABS, a pioneering cannabis product development company. Rick delves into the world of cannabis innovation, showcasing VIST LABS' groundbreaking technologies and products that are shaping the future of the industry.
Joining Rick is Christian Hegeseth, Chief Science Officer at VIST LABS, a renowned expert in cannabis science and formulation. Christian provides a deep dive into the science behind VIST LABS' products, explaining how their innovative approach is revolutionizing the way cannabis is consumed and experienced.
We take a comprehensive look at the intersection of cannabis and investment, exploring the factors that drive investment decisions, the importance of scientific innovation, and the potential for growth in this dynamic industry.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Blunt Business is on location at Benzinga Miami 2024. In this episode, we sit down with Kyle Sherman, CEO of Flowhub, and Jeffrey Trappe from Planet 13 for exclusive conversations about the future of the cannabis industry.
Kyle Sherman shares his insights on the evolving landscape of cannabis technology, discussing how Flowhub is empowering dispensaries to streamline operations, enhance customer experiences, and drive sales. Jeffrey Trappe dives into the world of cannabis retail, revealing the strategies behind Planet 13's success as one of the largest and most iconic dispensaries in the world, and more specifically their ongoing expansion in Florida.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Kevin Williams & Craig Small, Attorneys at Clark Hill, discussed the recent changes in the classification of cannabis and their implications for international trade and the cannabis industry.
Kevin clarified his expertise on importing and exporting of cannabis accessories, while Craig, based in Colorado, offered insights on other areas of cannabis reclassification.
We also discussed the upcoming changes to the classification of cannabis, which would allow for greater scientific research into its health benefits and risks. He and Craig discussed the potential implications of the U.S. Drug and Drug Administration's decision to reclassify cannabis to a less restrictive category, expecting it to lead to more federal permits for cultivation and increase participation in the cannabis industry. However, they also highlighted uncertainties regarding FDA oversight and compliance, and raised questions about the potential impact on paraphernalia and support products for cannabis.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
We discuss cannabis investment opportunities, and regulatory hurdles with New Lake Capital Partners. CEO Anthony Coniglio,
Anthony highlighted the importance of cash flow, cost reduction, and operational efficiency in navigating challenges and seizing growth opportunities.
We also discuss the potential for individual investors pre-institutional entry, strategic investments, and regulatory complexities affecting the industry's trajectory.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Robert M. DiPisa from Cole Schotz discusses recent developments in the cannabis industry in New York and New Jersey, with a focus on concerns about third-party advertising leading to consumer confusion. Legal challenges such as Leafly litigation and supply chain issues due to licensing delays were discussed. Additionally, insights were shared on proposed bills for psilocybin legalization in New Jersey for medicinal purposes. Robert highlighted his firm's emphasis on serving clients in the east coast region within these markets, providing a comprehensive view of the legal landscapes impacting cannabis businesses in both states and outlining key challenges and opportunities for industry stakeholders.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
We dive into the world of investment with Will McDonough, a titan in the financial industry and co-founder of Nancan Companies, as well as Chairman and Founder of Corestone Capital. With a track record spanning across continents and sectors, McDonough's insights are invaluable.
In this episode, we explore McDonough's journey through the financial industry, from managing billions at Goldman Sachs to co-founding ventures like Atlas Mara. We delve into his foray into cannabis investments, discussing the strategic moves and considerations behind portfolio entries.
McDonough shares his perspectives on emerging markets, including Green Energy Metals, the EV Market, and Bitcoin, shedding light on his approach to identifying opportunities and taking calculated risks.
We also explore McDonough's recent ventures into the adult beverages market with Nancan Companies. We discuss the launch of Nantucket LONGBIRD™ drinks, infused with hemp and CBD, and McDonough elaborates on the flavor profiles and the company's focus on serving the Massachusetts cannabis market.
Finally, we tackle the topic of investing in cannabis, analyzing the recent performance of cannabis stocks and the potential rewards and risks associated with this volatile market.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Matthew Ginder, Partner in the Cannabis Law practice group at Greenspoon Marder talks about Florida's adult use cannabis legalization, with a focus on achieving voter approval for Amendment Three in 2024. Matt Ginder and Brasco debated THC restrictions, consumption locations, and industry support, highlighting concerns about opposition from healthcare industries and the importance of strategic messaging by Smart and Safe Florida. They contrasted failed ballot initiatives with Smart and Safe's streamlined approach, addressing legislative challenges and market influence concerns. The meeting highlighted regulatory hurdles, industry influence, and the strategic lessons guiding Smart and Safe Florida's approach post-legalization, including legislative discretion, industry funding impact, public messaging strategies, and tribal involvement under Amendment Three. Compliance efforts by current operators were commended for maintaining industry standards and perception.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy -
Blunt Business welcomes Michael Wang, Co-CEO and CFO with ISPIRE, a company specializing in e-cigarettes and cannabis vaping products. Discussions included collaborations with Hidden Hills, new device launches like Switch One, and partnerships with Burna Boy. Safety measures, regulatory challenges, and quality assurance with ISO and GMP certifications were highlighted. Market trends indicated a rise in vaping products in cannabis sales, with projections of vaping reaching up to 50% of retail sales. Strategic global expansion plans were explored through partnerships outside North America. I Spire's role as an innovator in hardware design for over 400 brands without direct branding association was emphasized, showcasing their forward-thinking strategies for staying ahead in the industry.
Advertising Inquiries: https://redcircle.com/brands
Privacy & Opt-Out: https://redcircle.com/privacy - Näytä enemmän
