What’s the biggest challenge facing the cannabis industry right now, and how are you and/or your company addressing it?
By far, access to capital! I try hard to help companies in the sector not only access capital, but also understand what capital costs and with what constraints capital is going to require. I speak with capital providers daily and providing that interface is critical and helping great companies achieve success is the reward.
Where do you see the most exciting opportunity for growth and innovation in cannabis?
Growth is where I focus. Inevitability is coming. The inevitability of federal rescheduling, the inevitability of continued state legalization, the eventual inevitability of federal legalization.
The other thing that’s inevitable is that cannabis is going to grow faster than any other vertical market that you can show me for the next ten to fifteen years. It’s never going to get cheaper and it’s never going to get smaller.
The cannabis market is here to stay, and it’s competing for consumer share of wallet for alcohol, tobacco, CPG, luxury goods, beverage, wellness, and pharmaceutical. You’re either going to get involved or you’re going to get left behind.
What’s one piece of advice you would give to someone looking to break into the cannabis industry?
Consider what you are doing very carefully, this is NOT for the faint of heart. Each local, county and state regulatory body has its own set of rules, regulations and taxes; take the time to learn the ropes and consult experts who know their way around these unique policies. It’s not going to be the quick cash grab you may expect.
What is the most important thing you have learned from your experiences in the cannabis industry?
It is really ALL about the people. The relationships which I have built with the people in this industry are very authentic and real the realest that I have experienced in any vertical market in which I have worked. I think that the fact this industry is still nascent and still not mainstream breeds a camaraderie which I have not found elsewhere. Honestly I LOVE IT!
What do you want your legacy to be as it relates to the cannabis industry?
That I was helpful. I strive to be honest and do what I said I was going to do. A lot of people from all levels of the industry come to me for guidance and assistance and I want to make sure that I give them good advice, tell them what they need to hear, and if they are clients that I do a great job for them. People count on me and I want to make sure that they know they can depend on me when the mergers and acquisitions happen
Do you have a comment for Seth?
