#013 - Cannabis Business News Round-up | October 12, 2023

High Spirits: The Cannabis Business Podcast

Are you ready to grapple with the complex realities of business leadership during crises and the shocking truth of war as an economic boon for certain sectors? That's just the tip of the iceberg in this episode. Delve deeper with us as we explore the emotional aspect of leadership, offering empathy and support to teams, colleagues, and peers navigating these challenging times. It's not all doom and gloom, though. We dare to hope and pray for peace, shedding light on the harsh realities of conflict while pondering the disturbing concept of war as a potential economic catalyst.
Switching gears, we sort through the following current events in cannabis:

• Governor Newsom has been busy in the great state of CA signing and vetoing cannabis bills.
• Connecticut is experiencing steady growth with monthly purchasing exceeding $25M for the first time.
• The hemp market size has surpassed legal cannabis! What does it mean?
• US Census Bureau released their inaugural report on state level taxes levied from legal cannabis businesses

We dissect the implications of Assembly Bill 1207 and Assembly Bill 374, among others, considering their effects on the packaging, marketing, and expansion of cannabis cafes in the State of CA.
We also touch on the steady growth of the Connecticut cannabis market, detailing their unique approach to licensing.
We journey to the booming hemp market, a sector surpassing legal cannabis in size, and discuss what that means for the broader hemp and cannabis conversation, as well as lobbying power of the two sides.
Finally, based on the inaugural report from the US Census Bureau, we delve into the state-level taxes collected from legal cannabis businesses, revealing fascinating insights. Our exploration raises questions on the US government's perception and management of emerging markets, the 280E penalty, and the influence of taxes on economic activity.
As we wrap up, we encourage you to engage with us. Who knows? Your thoughts could spark our next enlightening conversation. So, don't forget to like, subscribe, and share our podcast!

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High Spirits is brought to you by Vertosa and Wolf Meyer.
Your hosts are Ben Larson and AnnaRae Grabstein.
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THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.
Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Chapters

1. Navigating Emotional Conversations in Challenging Times (00:00:00)

2. Cannabis Legislation Concerns and Vetoed Bills in CA (00:12:03)

3. Licensing and Market Growth in Connecticut (00:25:19)

4. Growing Influence of Hemp Market (00:34:14)

5. Analysis of State-Level Cannabis Tax Trends (00:45:11)

6. Continuing Conversations and Listener Engagement (00:54:01)