On Wednesday, June 26, Hirsh Jain of Ananda Strategy and I did an hourlong presentation where we examined a laundry list of problems facing the California cannabis industry. We had a lot of questions about whether a replay would be available and are happy to report that you can watch it here.
During the webinar, Hirsh and I talked about a host of problems facing the industry, including:
What structural legal issues make substantive changes to California law challenging How federal rescheduling may affect California Over-regulation at the state and local level California’s poor sales performance as compared to other mature adult-use states The effects of burdensome taxation at the federal, state, and local level California’s lack of retail licenses The festering illegal market and minimal enforcement, Competition from poorly regulated intoxicating hemp products Why we don’t think interstate commerce will happen soon or fix all of California’s problems
This was a lot to unpack in an hour and, unfortunately, we didn’t get too much time to address potential solutions we think could fix things. So I wanted to do that here, after speaking with Hirsh.
Below are a few ideas we each have, which we think might be