How decriminalization led to an explosion in cannabis startups | E2241
Brought to you by:
On TWiST’s first Cannabis Roundtable, Jason is joined by three top Cannabis founders and investors: Ford Smith of Ultranative, Andrew Duffy of Sparkplug, and Socrates Rosenfeld of Jane.
How will the regulatory environment and the move to Schedule III change the industry? Are those regulations shaping consumption? How are investors thinking about cannabis startups given the difficulty with exits? Most importantly, what’s the deal with the increasing potency of cannabis?
Each guest has their own perspective, Andrew sees it as a natural reaction from CPG brands to power users, Ford points to “flyover” operators unconcerned with long-term health of the industry, while Socrates refers to moonshine drinking during the prohibition to say that regulations create these problems.
Speaking of moonshine, alcohol consumption is dropping dramatically among Gen-Z, with many pointing to cannabis consumption as a substitute. Some perceive cannabis as healthier and lacking caloric nature of alcohol, which could explain why there are now more daily smokers than daily drinkers!