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The Making of a Cannabis Pioneer: Jason Wild's Transition from Pharmacist to Chairman
Manage episode 397292211 series 3297776
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Building a Cannabis Giant: Jason's Leap from Pharma to Pot
In this episode of the Proud to Work in Cannabis podcast, host and fellow entrepreneur, Karson Humiston, sits down with Jason Wild, the chairman of TerrAscend one of the large publicly traded company in the cannabis industry. The episode is recorded live from MJBizCon in Las Vegas, Nevada.
The conversation begins with Karson expressing admiration for entrepreneurs and their inspiring stories. She asks Jason to take the listeners back to the beginning of his career and share how he got started. Jason reveals that he had always been entrepreneurial, even in his teenage years, and had bounced ideas off his father, who was also an entrepreneur. He shares a story from his senior year of high school when he started a food delivery service for restaurants that didn't offer delivery. This experience, although challenging, set him up for the dynamic and unpredictable nature of the cannabis industry.
Jason then discusses his path to becoming a pharmacist and how he discovered his talent for stock picking. He explains that he started investing in the stock market with $10,000 and quickly realized that he had a knack for it. In his first year as a pharmacist, he made over $400,000 in the stock market, which sparked his interest in pursuing a career in investing.
After several successful years as a pharmacist and investor, Jason decided to start his own hedge fund. He shares the challenges and successes he experienced during this time, including a significant market crash in 2008 that led to a decrease in assets under management. However, he persevered and eventually built his fund back up.
The conversation then shifts to Jason's entry into the cannabis industry. He explains that he was introduced to the industry through a banker in Canada who informed him about the legalization of medical cannabis. Intrigued by the potential growth of the industry, Jason made several trips to Canada to explore investment opportunities. He eventually invested in four cannabis companies which turned out to be highly successful investments.
Inspired by his experiences in the cannabis industry, Jason decided to start his own cannabis company, TerrAscend. He shares how he convinced the company to take a $52 million private placement and co-invested with Canopy Growth. The stock price of TerrAscend skyrocketed, causing Jason to feel the pressure to deliver on the market's high expectations.
To ensure the company's success, Jason made the strategic decision to pivot to the U.S. market, becoming one of the first Canadian LPs to do so. He explains that although they couldn't list on a U.S. exchange, he believed in the long-term potential of the U.S. cannabis market.
The episode concludes with a teaser for part two, where Jason will discuss TerrAscend's entry into the U.S. market and his strategy moving forward.
Overall, this episode provides listeners with an inside look into Jason Wild's entrepreneurial journey, his success in the stock market, and his transition into the cannabis industry. It highlights the importance of patience, perseverance, and seizing opportunities in the ever-evolving world of entrepreneurship. https://terrascend.com/management-board/jason-wild/
Watch Video - https://www.youtube.com/channel/UCNZI8qZy0lKxLO4OTk6P-tw
Karson Humiston - https://www.linkedin.com/in/karson-humiston-64572b97/
Vangst - https://vangst.com/
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