Ven Viswanathan’s Post

Some people think that the claim of a Public-Private Partnership (PPP) between GW Pharmaceuticals and the Government is nothing but a conspiracy theory. But often, these are people who avoid sensationalism unless it’s from certain quarters of the press, or they’re invested to a point where exposing the PPP wouldn’t benefit their agenda—even if they aren’t directly tied to it, like some medicinally focused cannabis companies. But that’s OK, because it’s hard to argue or cry conspiracy when you consider the facts, as seen in the screenshot below. ‘Her Majesty’s Government has no will to reschedule cannabis,’ at which point everybody’s eyes went to the ceiling. ‘However,’ he said, ‘we’d like the research to be done.’ Two months later, Dr. Geoffrey Guy provided the Home Office with a 22-point plan to regulate and control cannabis, which led to GW securing a cannabis-growing license and a place at Porton Down—arguably the prime location for government-funded R&D. There's a fine line between theory and fact... And that brings us to the name in that screenshot: Paul Boateng, now The Lord Boateng. I’ve reached out to him via both his work and parliamentary email addresses, but it seems he doesn’t want to discuss the PPP that he played a key role in facilitating. Don’t get me wrong, he’s not ‘the boogeyman.’ I’d reserve that title for Lord William Waldegrave, who in 1997, before Labour came to power, was Boateng’s boss. I’ve tried to open a dialogue with him about the PPP’s initiation and its progression, but after 9 days without a reply, I’ll assume he’s got other priorities. Boateng isn’t just the instigator, though. He’s on record in Hansard, stating that the Home Office was in discussions with one company about cannabis R&D in January 1998. That’s around the time Dr. Guy was asked for a business plan, leading to his 22-point submission. So, was Boateng a manager of the PPP or a middleman? Either way, his role in laying the groundwork for this partnership is undeniable. Whether as a facilitator, a middleman, or even an overseer of its early stages, his influence in shaping UK cannabis policy deserves more attention. The PPP with GW Pharmaceuticals isn’t just a theory—it’s a documented relationship dating back to 1998. If we’re serious about transparency in cannabis policy, we need to ask: How many more figures like Boateng helped steer this partnership? And at what cost to public trust and industry fairness? As for Lord Boateng, the door remains open should he wish to share his perspective. Transparency on this issue can only help clarify the historical record. For those interested: This and an FOI request to The Treasury for a list of PPPs initiated between 1994 and 2000 are the final pieces needed to complete a white paper on this topic.

"If there's one thing I've learned in the cannabis industry, it's that radical self-reliance has been crucial to success—but so are collaboration and a strong sense of community...Indeed, cannabis entrepreneurs would be wise to take a page from the book of marginalized communities that have successfully found ways to push back against systemic disenfranchisement that pushed these groups to the brink of disaster." Vince C. Ning, co-founder and co-CEO, NABIS Wise words from a true industry leader. Collective action and collaborative competition are the only way we'll save the #cannabisindustry from being taken over by #bigpharma, #AG, or the kind of unchecked regulation that continues to destabilize what would have otherwise become successfully established and thriving markets (i.e., California / New York).

The panel “Effective Strategies to Convert Illicit Market Consumers” covered strategies and solutions to transition consumers from the illicit market to the legal market, addressing economic challenges and opportunities. Speakers included Wesley Hein, Matt Krishnamachari, Anthony Alegrete, M.A.O.L., Bill Levers and Elliot Lewis. “One of the things we discussed on our panel was the main issue in converting consumers from the ‘traditional market’ to legal channels of purchasing cannabis is money, plain and simple,” said Bill Levers of Beard Bros Pharms. “The over-regulation, over-taxation and extremely high barriers to entry have products that are in the legal supply chain priced at double or more from your friendly neighborhood dealer with cannabis in a sandwich bag. The solution is simple and it lies in the pricing. Governments need to stop thinking of cannabis taxes as a cure-all for society’s woes and treat the industry just like any other industry with fair tax rates so businesses can survive. “One of my takeaways from the event—and our panel in particular—was Elliot Lewis’s mic drop,” Levers continued. “If you haven’t seen it, you should; it’s all over social media. I have said several times since the event that this will be Benzinga’s most memorable panel discussion ever.” Benzinga Benzinga Cannabis Cannabis Now Melissa Reid

Advocates Call for Leadership in New York's Cannabis Market A coalition of cannabis industry advocates, equity groups, and community organizations has penned a letter to Governor Kathy Hochul, raising concerns about the direction of the Office of Cannabis Management (OCM). The letter criticizes the administration's failure to prioritize equity, small businesses, and community-driven development as outlined in the Marijuana Regulation and Taxation Act (MRTA). Key issues highlighted include: Lack of funding for social and economic equity programs. Delays in reviewing small business and equity license applications. Inexperienced interim leadership at OCM, threatening the market's equity goals. The letter calls for appointing a permanent Executive Director with expertise in cannabis, economic market development, and regulatory licensing to steer the industry back on track. This is a pivotal moment for New York's cannabis market. Equity, justice, and small businesses must remain at the heart of its growth. Join the conversation and share your thoughts. How can we ensure a fair and sustainable cannabis market in New York?

Impending Reclassification: A Game-Changer "The #cannabis industry, long mired in legal and financial uncertainties, is now in a lead position to transform the world of investments, entrepreneurship, and the holistic health industry. "With the Biden administration's move to reclassify cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act, a seismic shift for cannabis investors is on the horizon." Continue below to learn more about this dynamic investment opportunity expanding across the U.S.: https://lnkd.in/e85wzEhJ #dealstream #blog #michigan #professionals #experts #businessbroker #loopnet #bizbuysell #valuation #selling #michiganbusiness #businessowners #capital #realestate #strategy #negotiation #value #creation #capitalbusinessbrokerage #cbb

In this insightful episode of "Let's Be Blunt with Montel," we explore the dynamic landscape of the cannabis industry with industry pioneer Jason Vedadi, CEO of Story Cannabis. With a rich background in real estate development and finance, Jason has been at the forefront of cannabis entrepreneurship, co-founding Harvest Health and Recreation, and playing a pivotal role in its merger with Trulieve. Join us as Jason shares his expert insights on the future of cannabis at both the state and federal levels and why legalization is a critical issue in the upcoming presidential election. Discover how cannabis has become a significant factor in battleground states, influencing voter turnout and policy decisions. Jason provides a deep dive into the challenges and opportunities facing the industry, including the implications of cannabis rescheduling, the evolving relationship with pharmaceutical, alcohol, and tobacco industries, and the impact on market trends and consumer perceptions. We also discuss the role of cannabis in addressing the opioid crisis, the importance of sustainability and ethical practices, and how social equity programs can be improved to serve underrepresented communities. Aspiring entrepreneurs will find valuable advice on entering the cannabis market and navigating current federal regulations. Don't miss Jason's thought-provoking perspectives on the future of cannabis and how industry leaders can collaborate to advocate for sensible legislation. For more on Jason's viewpoints, be sure to read his recent op-ed in mg magazine. Tune in to this episode of "Let's Be Blunt with Montel" for an enlightening discussion on the pivotal role of cannabis in shaping the future. https://lnkd.in/eibiADUG

Exciting news for aspiring cannabis entrepreneurs in Maryland! Last week we hit a significant milestone as the state held a lottery to award licenses for cannabis businesses, with a focus on social equity applicants. Here's a breakdown of the key details: ➡ Over 1,500 applicants have qualified through a rigorous vetting process. ➡ 179 licenses are up for grabs in the first round, reflecting the state's commitment to fostering a diverse and inclusive cannabis industry. ➡ Selection criteria prioritize individuals from communities disproportionately affected by cannabis-related arrests, as well as students from universities with significant Pell Grant recipients. ➡ Various licensing options are available, including growing, processing, and selling licenses, with provisions to support small-scale operators through micro licenses. ➡ The Maryland Cannabis Administration emphasizes transparency and accountability in the licensing process. Read more here🔗: https://lnkd.in/eSB_JkUQ

Puncturing 3 More Cannabis Myths “The way in which we see things can hardly be distinguished from the way in which we wish to see them.” Joseph Schumpeter My recent post on cannabis myths (link in comments) garnered a lot of positive engagement, including private messages. Thank you.  Many DMs wanted me to address some other industry myths.  Here goes- 1. “North American Cannabis is a growth industry” Yes and no - and not for everyone. Without a doubt, new/pending markets are accretive to the total market. And many existing jurisdictions such as New Jersey and New York have plenty of growth left in them.  However, some mature markets like Colorado, Illinois and California are experiencing (legal) market flatness and even decline.  It’s reasonable to believe that tax and regulatory reform could fix this but that’s hardly a consolation for a retailer or producer seeing their revenues and profits dipping NOW in the hope something changes LATER. If they are not well-established in mature markets or targeting new ones, some MSO will find themselves struggling to find profitable growth. Finally, market size and growth is important but not in itself, sufficient.  There is no guarantee firms will be profitable or sustainable.  See Canada. 2. “My brand/product is different” Are they really that different, and on what basis? If a mass cultivated strain like Blue Dream was Pepsi challenged (i.e. blind smoked), I doubt most consumers could tell which brand is which or if they were even smoking Blue Dream. Fact is, there are few strong brands in cannabis; widespread product confusion and misunderstanding continues to plague the sector. Being different also doesn’t mean your brand will be desired. The point(s) of difference must be meaningful to the channel & consumer and marketed well to deliver sales. 3. “Most Americans want legalization and decriminalization” Yes, according to polls.  The inference is that these people will support our goals. However, one should be mindful of Carl Jung’s dictum, “You are what you do, not what you say you will do.”     Sadly, most people don’t back up words with support.  To achieve legalization, individuals need to take action such as voting for pro-cannabis politicians, contributing to advocacy groups and purchasing from legal businesses. This goes for cannabis companies too, in terms of supporting industry lobbying and legal efforts (e.g., Boies lawsuit). Encouragingly, stigma is fading. However, reducing stigma doesn’t mean you are creating legions of pro-legalization soldiers; it might just mean more apathetic fence-sitters. Finally, we need to acknowledge that the current regulatory mish mash benefits some groups including certain MSOs, illicit players and, yes, consumers.  They will prefer the status quo. 🔔 Hit that follow bell to always get my unique, impactful content #cannabisindustry #cannabis #MSOS #myths #cannabisusa #cannabiscommunity #cannabiscultivation  

Having the opportunity to speak and showcase the topic "Business Development and Strategy in Cannabis' in Europe last June was an honor. How the topic was received and championed by those attending continued to affirm the transformative change that is desired by most! Thank you @Janetburns and Forbes for the opportunity to get that message out. https://lnkd.in/gXWcnVAj #Cannabistransformation #businessdevelopment #businessstrategy #cannabisgrowth #internationalstrategy

Not the news item you would like to see in the Financial Times regarding cannabis companies looking to list overseas rather than in their home jurisdictions. Here, the article focusses on the rescheduling in the US being an opportunity for said ventures, but also misses the main point relating to the ambiguity surrounding, (and the commonly held view by many of us) the incorrect interpretation of, the UK's Proceeds of Crime Act. The effect is the creation of a chilling effect on cannabis companies looking to list in London. This is an easy win for The Labour Party to tackle in the first 100 days and bring more private and public investment into a high-growth industry where the UK could be a European leader.