Recorded on his farm, Lieutenant Governor, David Zuckerman joins us to discuss the history of cannabis in Vermont as well as his unique story. Dave, as he’s also known, has 20 acres of organic vegetables and raises organic hogs, chickens and grain and either when on or off the farm, the Lieutenant Governor is thinking about day to day choices regarding our personal impact. Regarding politics, he volunteered for Bernie Sanders in 1992 and was asked to run in 1994 and lost by only 59 votes. He was appointed to the local electric commission was elected to the house1996 served for 14 years, ran for and then served in the senate for four years which brought him to running and winning the Lieutenant Governorship this past November.
Recorded May 5th of 2017, John Davis returns to provide a history of legal cannabis in Washington State as well as an update on his personal saga. Washington State has always been building the regulatory plane as they fly it. For John in particular, he was a medical dispensary owner prior to legal adult use cannabis being voted in. But the medical market was never truly regulated. And so, the goal was to move the medical shops over to the adult-use program between July 2016 and July 2017. So John had to apply to keep his business. He put in his priority submission on the first day he could but one thing led to another and he had to shut his doors a year ago. All was lost until just recently- when he finally got approval.
Ben Pollara returns to discuss the state of the cannabis economy in Florida. Of course, Florida passed an amendment to legalize medical marijuana with 71% of the vote in 2016. The legislative session just ended however with a failure to pass implementing legislation. The two houses in Florida have bi-cameral consensus to maintain the current system with both the senate and house saying new licenses need to be tied to the number of patients admitted into the program. Businesses need customers to stay in business, so from a standing start, one can see how this approach makes sense. This does ultimately mean however, that market-driven growth economy legislators counterintuitively prefer a small closed market for cannabis.
A lifelong regional banker, Mac Jones joins us and notes that the banking industry is a completely different animal than it was just a short time ago. He shares that two things have happened in tandem- there has been an increase in regulations on banks while bankers have come to have less of a relationship with depositors and merchants. All the while, there’s no longer true accountability in the industry. That said, Mac’s always kept that relationship with the merchant and so when legal cannabis arrived in Colorado, with an understanding of the Cole Memo’s, Mac saw no difference in cannabis merchants and provided traditional banking relationships in the industry- providing structural support for the industry. And there’s much much more.
Recorded back in January in a parking lot, Crash Barry joins us and discusses the history of cannabis in Maine. Going back to the late 60’s through his time in the Coast Guard in the late 80’s & 1990’s cannabis was grown outdoors. As a participant on the other side of the War on Drugs, Crash saw cannabis driven indoors. After Crash was done with the Coast Guard, he realized his calling and became an author, penning Marijuana Valley- a tome that’s out of print but still available if you look for it. In it, Crash documents the Maine cannabis economy leading up to legalization in 2009. Crash is now on the hunt for good genetics and loves the fact that he’s able to test and know empirically what’s in what he grows.
Brendan Kennedy from Privateer Holdings and Adam Bierman from MedMen join me for a panel discussion at the IMN Institutional Capital and Cannabis Conference. The panel is set up as a debate between the concepts of plant touching investment vs. ancillary here in the US. The US unfortunately, is starting to fall behind the rest of the world in regards to federal regulations. So despite Brendan’s being invested in plant touching opportunities in Canada and other countries, his point of view in the US is that for the time being, the opportunity is investing in brands. Adam’s point of view is that now is the time to invest in the infrastructure of what will be the cannabis economy right here at home. It’s a thought-provoking, lively conversation in front of a group of investors.
Jmichaele Keller joins us and shares that he considered himself a global citizen upon his first trip out of the states when he was a kid. He appreciated architecture, went to Rome and as far as Asia to investigate. He found a calling though in computers- in which he started before there were Windows. He got a job as a room service waiter and fell in love with hospitality. He got one of the first IBM PCs that Marriott had- which had 64K of RAM and a 10 Megabyte hard drive. He made his way into finance and wowed executives by budgeting and forecasting using that now archaic machine. From there he went on to software and on to real estate. Jmichaele ultimately found his way into the cannabis industry through the very important work of lab testing.