Dr. James Richardson

Good morning California Cannabis Industry, Today, in the economic evolution of cannabinoids (both cannabis and help), there's one question remaining: WHO WON THE RACE TO THE BOTTOM?  I'd love to hear your thoughts.  

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As the cannabis industry matures, we are starting to get reliable data. This can help make decisions based on real sales figures and not predictions. 10 years ago, there was only one state with adult use sales (#colorado) and a handful of states with medical seals. Now there is 24 sates with adult use sales and an additional 15 states with medical seals. At the moment #california leads with total seals but #michigan leads with per capita seals. #florida leads in medical seals. #missouri with a relatively small population and only 17 months since they launched their adult-use market, is already in fifth place. Thank you Debra Borchardt from Green Market Report for the financial update. #cannabisindustry #cannabiscommunity #cannabisnews #cannabiseducation #cannabispolicy #cannbislaw https://lnkd.in/gc96gcCh

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In the first quarter of 2024, with federal cannabis-reform efforts not yielding any practical changes, Curaleaf made a strategic decision to enter the hemp market. This is a trend we are starting to see. Cannabis can only be sold in the state it was produced and only allowed to be sold through dispensaries (in a hand full of states such as #california it could be sold through a delivery service). Intoxicating products that derived from hemp, are legal to ship across state lines, are available via e-commerce and mainstream retail channels. As well the producers of the products do not need to comply with burdensome licensing requirement and predatory taxation. A lot of politicians say that they support small businesses, but for small cannabis businesses to be able to properly compete, they need to have access to the same distribution channels as #hemp. Thank you Chris Roberts from MJBiz for the market update. #cannabisindustry #cannabiscommunity #cannabisnews #cannabiseducation #cannabispolicy #cannbislaw https://lnkd.in/gJHjPYgG

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New trends are always exciting to explore and compare to traditional metrics. Something always shakes out to prove or disprove an assumption. Therefore, reading this article from Packaging Strategies Magazine, it's no surprise that cannabis packaging has a direct impact on the bottom line. #retail #packaging #trends #cannabispackaging #cannabis #protip

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New Farm Bill text proposed by Sen. Debbie Stabenow could reshape the #cannabis and #hemp industries. The proposed bill aims to close the 'intoxicating hemp loophole' by including THCA in the legal definition. This move would effectively ban most intoxicating hemp products currently legal under the 2018 Farm Bill. It's a significant shift that could impact both hemp and cannabis businesses. The bill maintains the 0.3% THC threshold but expands it to include all forms of THC. One the one hand, the bill could level the playing field between hemp and cannabis companies. But it's unclear whether hemp-derived THC products, like beverages will be pulled from store shelves — there may be significant pushback from the legal hemp industry. For the full breakdown and implications, check out the latest Cultivated Media

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There is a 44-page proposal that has been circulating in political circles in #sacramento since June as an amendment to Assembly Bill 2223, which was originally intended as new rules for hemp businesses. It’s also reportedly backed by Gov. Gavin Newsom. There has been a artificial split between hemp and cannabis. In 2018 hemp was legalize nationwide through the farm bill. That opened a loophole to sell intoxicating hemp products with virtually no oversight. For the past two years there has been an attempt to regulate the hemp industry at the federal level through a new farm bill. Last year the bill got pushed to this year and it looks like the bill will be pushed again to next year. Some states such as #california are working on their own bills to regulate hemp-derived intoxicating products. The new adamant if attached to AB 2223 would require intoxicating hemp products to be overseen by the Department of Cannabis Control, potentially overloading the office. It would open up regulated interstate cannabis commerce, but only for hemp products and not for state-legal cannabis products, setting a new legal precedent that cannabis farmers could be left out of. It would give interstate import and export exclusivity to cannabis distributors, artificially creating some winners in the cannabis trade while disadvantaging others. We need to work together and not have hemp and cannabis producers being pinned against each other. We need one set of rules for both. We need a system that consumer safety, and access is the top priority. Thank you to John Schroyer from Green Market Report for the state update. #cannabisindustry #hemp #cannabiscommunity #cannabisnews #cannabiseducation #cannabispolicy #cannbislaw

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It has been almost 11 years since #colorado started adult use sales. Now the vest majority of americans live in a state where cannabis is legal for medical or adult-use. We are starting to get reliable data. Data about consumer behavior is really important. New Frontier Data conducting a survey on the difference between people that use cannabis medically versus recreationally. They found that medical patients are typically are the most loyal customers and spend far more than adult use consumers. Adult use consumers are the most likely to obtain their cannabis for free and the most likely to spend under $50 when they do buy cannabis. Medical patients are the most likely to spend $400+ when they purchase cannabis. This reflects the need of medical patients to have consistent access to the same products. Thank you to John Schroyer from Green Market Report shedding light on this fascinating topic. #cannabisindustry #cannabiscommunity #plantmedicine #cannabiseducation https://lnkd.in/g7XiQx6z

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#Cannabis Media Council publishes 2024 advertising guidelines report | "The Cannabis Media Council just released its 2024 report titled “Full Spectrum: Guidelines for Responsible Cannabis Advertising” | Green Market Report

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It is disheartening to see the government’s current stance on the hemp industry, especially when there is a significant opportunity to enact meaningful and positive change. Instead of implementing targeted regulations to address the challenges posed by unregulated and intoxicating hemp products—largely introduced by unscrupulous actors—the proposed measures threaten to destabilize a $28 billion industry due to a fundamental misunderstanding of its operations. Perpetuating myths that label hemp and cannabis as gateway drugs or dismiss their medical benefits ignores the lived experiences of countless individuals. Think of cancer patients finding relief during chemotherapy, opioid addiction survivors seeking alternative therapies, veterans managing PTSD, and many others who rely on hemp and cannabis as primary treatments for pain and other conditions. We must prioritize education and implement effective regulations to protect the hemp industry from bad actors, whether they are within the industry itself or in policymaking positions. By doing so, we can ensure that this vital industry continues to provide essential benefits to those who need it most while contributing positively to the economy. #hemp #hempregulation #cannabis #fightforhemp #regulate #educate #protect #protecthemp

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Hey #cannabisindustry, Here's a new SCOOP for WeedWeek readers -- DCC shutters testing lab alleging numerous violations since 2022 What do you make of this latest development? Link in comments

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Disagree strongly with this take. The fundamental disconnect is thinking digital marketing's only value comes from direct conversions to sales. That sounds like saying the internet had no business value because you couldn't sell through it in 90’s… My theory is that branding has and will continue to evolve alongside tech. First, companies like Apple and Google provided ecosystems (Web1; App Store/iOS and Play Store/Android) which led to the creation of billions in value and onboarded millions of users. Then, we saw the rise of platforms (Web2; Facebook, Twitter, YouTube, Instagram, Snap) built on these ecosystems. The platforms onboarded billions of users, while adding trillions in dollars in value to the ecosystems (and in Meta's case, themselves reached over $1T). Those platforms generated value through creators, on the back of digital marketing. They unknowingly, yet fundamentally, rewired how consumer trust works. These creators aren't just building audiences, rather they're architecting trust networks at scale. Mr. Beast isn't just disrupting the candy industry, and Logan Paul isn't just challenging drinks. They're showing that authentic, community driven brands can succeed even in the toughest markets. These creators aren’t just swaying consumer spending or capturing viewers attention as a “time suck.” They are bringing in massive viewership numbers and have the ability to sway action. For example, Joe Rogan pulled in over 50m views with Trump podcast. Hell, Elon's appearance on Rogan shortly after was what drove me to vote, for the first time ever…. Podcasts have been a big talk this election, and it’s because we are seeing (or finally realizing) the power they hold. Digital/social isn't just media anymore. It's not a distraction, it's the new infrastructure of influence which operates at unprecedented scale. P.S. We're documenting our journey growing Higher State Brands right now. Follow along if you want to see how we're building a cannabis brand through radical transparency. YouTube channel launching soon!

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🚨 Insightful DEA Report: Illicit marijuana flowers average a THC potency of 16%. 🌿💨 This statistic underscores a significant advantage of purchasing from licensed dispensaries—quality and safety. Unlike the unregulated market, dispensaries offer products that are tested, compliant, and consistent in their THC content. This not only ensures a safer consumer experience but also supports the legal cannabis industry committed to high standards. Why risk the unknown? Choose quality, safety, and reliability every time with dispensary-bought cannabis. Let's advocate for more informed consumer choices and support regulations that emphasize these benefits. Stay informed and choose wisely. #CannabisIndustry #ConsumerSafety #DispensaryQuality #THCPotency #RegulatedCannabis

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How to Succeed in the Cannabis Industry - There are people in the industry who have answers. The Keynote Speaker for the Northeastern Cannabis Industry Networking Dinner is Wanda L. James. Wanda James managed two congressional campaigns, including Re. Jared Polis, now Governor of Colorado. She was appointed to Barack Obama’s National Finance Committee. Wanda James and husband, Scott Durrah, were the first Black licensees in the United States to own a dispensary, grow operation, and edibles.They opened the Apothecary of Colorado, in 2009 and Simply Pure Medicated Edibles in 2010,  becoming  the largest edible medical cannabis company in Colorado. Simply Pure Dispensary opened in 2015 in the Denver LoHi neighborhood. Simply Pure Trenton, New Jersey opened in 2023 under the leadership of owner Tahir. In 2023, Regent Wanda James became the first Black woman elected to the CU Regents Board in over 44 years. She will serve in Colorado’s First Congressional District. WCCC has curated a panel of entrepreneurs with success in the cannabis industry, for the Northeastern Cannabis Industry Networking Dinner. Each brings their perspective based on experience and knowledge on what it takes to succeed. Michael James, The James Firm LLC, Corporate Attorney and Cannabis Licensing Attorney, providing a balance of legal, business, operational, and financial strategies that had clear execution and built-in problem-solving contingencies. Licensed in New Jersey and New York April Rodriguez Designated Broker at Zoned Properties Brokerage, 20 years in real estate. Advocate and Advisor on Cannabis specific opportunities with or without real estate. Specialist in green parcel verifications for Cultivation, Retail & Testing Locations. Multi-State licensed. Erica Sloan CPA, CFE, MBA, FMVA, CGMA, CCCP, DOPE CFO Certified Advisor. 15+ years of success as a trusted advisor in her field. She is well-versed in policy creation, complex tax regulations and compliance, budget development, financial management best practices, internal controls, strategic planning, CFO services, and more. Patricia Walker, Luna Verde Consulting, Cannabis Operations & Strategy Specialist, Advocate, Purchasing & Business Development Expert, NJ Business Action Center instructor for the inaugural Cannabis Training Academy. Rachel Amin, Founder/CEO, Rachel Petterson Amin Consulting, sales development within the tech industry to revolutionize the approach of cannabis and CBD companies in bringing their products and services to market. Details & Tickets @ https://lnkd.in/gf2FQ4zi #womenscannabischamberofcommerce #womencultivatingsuccess #cannabisentrepreneurs #cannabisnetworkingevents #cannabisindustry #northeasterncannabisindustrynetworkingdinner #zonedpropertiesbrokerageflorida #ericasloandopecfo #lunaverdeconsulting #jameslawfirmllc #wandajames #simplypuredenver #simplypuretrenton #curaleaf #selectbrand #grassrootsbrand #financialresourcesfederalcreditunion

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Only 27% of cannabis businesses are profitable, down from 42% in 2022. When it comes to minority owned businesses only 17.5% are profitable. According to The US Chamber of commerce, 65.3% of all small businesses in the U.S. are profitable. There is no easy fix, but starting at the local level is really important and a lot of times overlooked. Very restrictive zoning, creates an artificial shortage of available real estate. Real estate is usually the biggest cost and because of limited supply landlord charge outrageous rent. A lot of local governments charge predatory permitting fees and have very lengthy process to get permitted. We are less then three months away from the presidential election. This is time to hold your local officials accountable. Thank you Tony Lange from Cannabis Business Times for the economic update. https://lnkd.in/gcy2igMF

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 It’s time for stronger leadership from government, the medical community, insurance providers, and all stakeholders in health. The evidence linking our diet to overall health outcomes is undeniable. To tackle the nation's healthcare challenges, we need to prioritizes nutrition as a foundational aspect of preventive care and public health. Let's continue to push for systemic changes that support healthier eating habits #betterfoodsystems.

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