The Ledger
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Ning: Compliance forced dispensaries to video-record destroying millions in cannabis
“Well, because for compliance, you have to record yourself disposing of the product, whether you burn it or smash it or whatever. There's videos of dispensaries just like as evidence, just like damaging all their products and just basically having this huge dem…”
Ning: Canadian firms acquire US cannabis distributors for licenses, slash staff
“We have seen some, like, distribution companies at least get bought out by Canadian companies, and I think it's hugely just, like stock packages and, like, The C levels will go join the company and then the rest of the company kind of gets let go. And so it's …”
Ning: 80% of US cannabis historically came from California
“A couple years ago including the black market, 80% of the cannabis in the United States came out of California”
Ning: Well-capitalized Canadian public companies will drive US cannabis consolidation
“I think part of the whole like consolidation pattern that will Come just because the market's so fragmented right now will be heavily pressurized by Canadian like publicly traded, heavily capitalized companies. Just because they're coming in and they're buying…”
Ning: California requires a licensed distributor for all B2B cannabis transit
“No one can move product between two different license entities without a distributor. So even if you're just like a farm moving your product to a manufacturer, you have to contract out a distributor or get your own distributor's license in order to move it.”
Ning: Dispensary sales are driven by marketing budgets and budtender training
“Whoever has the higher marketing budget will go in and just buy out shelves for The dispensary, like, shelf space at the dispensary, and they'll teach all the bud tenders at, you know, all the major locations, and that's what'll get pushed through the most.”
Ning: Federal cannabis reform remains several years away despite state progress
“I think it'll probably be another few years before anything federally changes. And more and more states will continue to pass favorable regulations towards cannabis. So a lot of them will start out by decriminalizing it and then making it medicinally available…”
Ning: Extensive crossbreeding makes nearly all modern cannabis strains hybrids
“But then at the end of the day, there's so many different varieties of strains that and nowadays with the crossbreeding of all them, everything seems to be somewhat of a hybrid a strain.”
Ning: Cannabis products are shifting from strain-based to effects-based marketing
“And like products nowadays apart from just being strain based as what you would normally buy back in the day, you're like, I'll buy some blue dream or some of this or, and based on strain now a lot of products are ratio based or like effects based. So they'll …”
Ning: Vice clauses in LP agreements block institutional VCs from cannabis
“For a lot of institutions that can write larger check sizes they have LPs for their funds that basically they sign LP agreements that say, like, you can't invest in certain vice industries like gambling or alcohol or Weed, of course.”
Ning: Over 90% of transactions for cannabis distributor Nabis are cash
“Cause you touched on earlier, more than I would say for us, at least more than 90% of our transactions are in cold, hard cash.”
Ning: Nabis expands interstate via segregated entities to avoid federal law
“Although we're currently in California, we actually have to set up a different legal entity in each state so that we segregate out our business so it's not interstate commerce and, you know, basically expand that way from state to state, and then have, like, a…”
Ning: Nabis founders personally drove hundreds of thousands in unregulated weed
“I when we first started this we had a friend who basically ran, like, a pre-roll company that was distributing across California, and prior to regulation, this year is very much just like a backpacking industry where people would deliver their own products to …”
Ning: Hemp CBD is legally sold anywhere unlike marijuana-derived CBD
“And so the hemp based CBD is legal and you can sell that anywhere. So you can get it at like Costco if you want. I've seen like hemp lotion and like all that sort of stuff. But then there's also just like CBD products that are derived from marijuana that can b…”