Last week the National Cannabis Industry Association held its annual conference at the Oakland Marriott City Center. The event was very well attended and highlighted by former Mexican president Vicente Fox’s keynote address.
He explained many points not well-covered in mainstream press, such as the fact that Mexico is located right in between the largest drug producers to the south and the largest drug buyers to the north, the U.S. Fox sees this as a health-care issue and not a criminal issue. Individuals should be able to choose, instead of governments trying to restrict. The prohibition policy has led to the loss of hundreds of thousands of Mexican youth.
Fox told reporters that Trump is “blind” and his “white, middle-class male” supporters shouldn’t be interpreting his perspective as their own world view. Fox added that Trump should not be imposing his will on the American people through executive orders.
“We need leaders with very strong, profound, compassionate attitudes,” said Fox. “It is a real shame for this great nation … We’re all pissed off out here hearing his crazy Tweeting and his crazy public policies that have nothing to do with the soul and feelings of this nation.”
The former world leader said the current Commander in Chief doesn’t have a place in politics and should “go back to business.”
Canndescent Moves Ahead
Santa Barbara will be known some day for being home to one of the best cannabis companies on the planet. There is no other management team that can compare with the one being assembled at Canndescent, which is headquartered in Santa Barbara with operations in Desert Hot Springs.
The company is in the midst of its second capital raise, which is being well received. The funds will finance its greenhouse expansion among other things. Take a look at Canndescent.com to get a glimpse of the future of high-end cannabis.
Investor Sentiment Update
Over the past few months, I have spent a great deal of time talking to hedge funds, private equity firms, capital companies, and family-funded investment offices. Many are interested in cannabis, but most are not sure how to enter the space. Reminds me of a large group of people thinking of jumping into a pristine mountain lake in the summer. The water is cold at first but invigorating. Eventually one will go, and then all the rest will follow.
Many of these investors tell me they will only invest in things that do not touch the flower. While this seems like a safe approach, I wonder. How safe can it be when too many are doing the same thing? As the old saying goes, “If everyone is on the same side of a trade, nobody is thinking”.
This too will change.
Cannabis and the Hospitality Industry
Hotel executives in California are going to have to address cannabis in the near future. How do they protect their brand and keep cannabis enthusiasts happy? Touchy subject but one that will need to be addressed. How long will it be before wedding planners will be asking high-end properties to allow cannabis consumption? If cigars are okay, why not cannabis?
Independent properties will lead the way with national brands following after its safe.
Wine and Weed
In early August, high-level executives from both the wine and cannabis industries will gather in Santa Rosa, California. The legalization of cannabis in California will undoubtedly have an impact on the wine industry, but in what ways?
The Wine & Weed symposium will explore, in depth, what the California wine industry can expect the impact to be over the next year and what opportunities, as well as threats, will exist.
This one-day event features experts from both industries, providing an overview of the cannabis industry as well as topics ranging from what is legal and new cannabis products to regulations surrounding licensing, hospitality, growing, and other topics of interest.
The symposium also features a limited number of tabletop exhibitors and sponsors along with a beautiful outdoor buffet lunch specially prepared by the Hyatt Vineyard Creek Chef.
The day will conclude with a networking social featuring selected wines and paired hors d’oeuvres. Visit Wine-Weed.com for complete details.