'The stone that the builder refused will always be the head corner stone' - Bob Marley
''The Galaxy is changing,' said Harl. 'We've got to change with it. Go with the market. The market is moving up. New aspirations. New technology. The future is...'
'Don't tell me about the future,' said Ford. 'I've been all over the future. Spend half my time there. It's same as anywhere else. Anywhen else. Whatever. Just the same old stuff in faster cars and smellier air.'
'That's one future,' said Harl. 'That's your future, if you accept it. You've got to learn to think multi-dimensionally. There are limitless futures stretching out in every direction from this moment - and from this moment and from this. Billions of them, bifurcating every instant! Every possible position of every possible electron balloons out into billions of probabilities. Billions and billions of shining, gleaming futures! You know what that means?'
'You're dribbling down your chin.'
'Billions and billions of markets!''
- The Hitchhiker's Guide to the Galaxy, The Complete Trilogy of Five, Douglas Adams
'Don't tell me about the future,' said Ford. 'I've been all over the future. Spend half my time there. It's same as anywhere else. Anywhen else. Whatever. Just the same old stuff in faster cars and smellier air.'
'That's one future,' said Harl. 'That's your future, if you accept it. You've got to learn to think multi-dimensionally. There are limitless futures stretching out in every direction from this moment - and from this moment and from this. Billions of them, bifurcating every instant! Every possible position of every possible electron balloons out into billions of probabilities. Billions and billions of shining, gleaming futures! You know what that means?'
'You're dribbling down your chin.'
'Billions and billions of markets!''
- The Hitchhiker's Guide to the Galaxy, The Complete Trilogy of Five, Douglas Adams
' - Total global consumer spending on legal and illicit high-THC cannabis
is projected to grow from $415B in 2020 to $496B by 2025 (a CAGR of
3.6%)'
- Between 2020-2025, the total combined U.S. market opportunity for legal cannabis sales is estimated at $172 billion.
- Projecting that 18% CAGR, annual medical cannabis sales are estimated to nearly triple from $5.8 billion in 2019 to $16 billion in 2025.
- Meantime, annual legal adult-use sales are projected to grow at a 17% CAGR, from $7.4 billion in 2019 to $19 billion in 2025.
- Conversely, illicit market sales will slow due to legal markets: New Frontier Data estimates that 17% of all 2019 U.S. cannabis sales were legal; in 2025 more than one-third (34%) of total annual demand will be met through legal markets.
- Projecting that 18% CAGR, annual medical cannabis sales are estimated to nearly triple from $5.8 billion in 2019 to $16 billion in 2025.
- Meantime, annual legal adult-use sales are projected to grow at a 17% CAGR, from $7.4 billion in 2019 to $19 billion in 2025.
- Conversely, illicit market sales will slow due to legal markets: New Frontier Data estimates that 17% of all 2019 U.S. cannabis sales were legal; in 2025 more than one-third (34%) of total annual demand will be met through legal markets.
- New Frontier Data
The one plant that has been shunned by mainstream society, for decades now, as a poor man's vice, and not worth the money (the legal money that is), is suddenly making its presence felt and how. The United States and Canada have seen a legal cannabis industry growth explosion in the last decade, from a restricted plant used for limited medical purposes to one of vast industrial and recreational potential. We are now talking about an industry that covers everything, from seed to sale, including farming, packaging, extraction, distribution, retailing, regulation, licensing, testing, IT based tracking systems, delivery platforms, e-commerce, taxes, marketing, standards, exports, industry funding, stock trading and legislature.
Cannabis has emerged as the new partner and competitor for the alcohol, tobacco, pharmaceutical, food and beverage, medical, construction, textile, wellness, agricultural and tourism industries, to name just a few. Cannabis based accessories and ancillary industries are mushrooming by the day, and getting more and more creative by the minute. More and more successful businessmen, ex-politicians and celebrities from the music, film and sports industries, are jumping on the cannabis bandwagon, as the days go by. Cannabis based companies are turning into multi-billion dollar ventures with global presence, sizzling hot stocks, mergers and acquisitions, and unforeseen capital investment being reported. Small and large entrepreneurs are venturing into the industry as it begins to build up momentum. In Canada, we see the breaking up of cannabis cultivation from large scale cultivators to small size batch cultivators who produce better quality craft cannabis. We see the global cannabis companies, especially the giants from Canada, the Netherlands and Israel, scouring the world for places that can provide cannabis cultivation at large scales so that the produce can then be exported to Europe and Oceania where demand is high, with almost no local cultivation.
Cannabis has emerged as the new partner and competitor for the alcohol, tobacco, pharmaceutical, food and beverage, medical, construction, textile, wellness, agricultural and tourism industries, to name just a few. Cannabis based accessories and ancillary industries are mushrooming by the day, and getting more and more creative by the minute. More and more successful businessmen, ex-politicians and celebrities from the music, film and sports industries, are jumping on the cannabis bandwagon, as the days go by. Cannabis based companies are turning into multi-billion dollar ventures with global presence, sizzling hot stocks, mergers and acquisitions, and unforeseen capital investment being reported. Small and large entrepreneurs are venturing into the industry as it begins to build up momentum. In Canada, we see the breaking up of cannabis cultivation from large scale cultivators to small size batch cultivators who produce better quality craft cannabis. We see the global cannabis companies, especially the giants from Canada, the Netherlands and Israel, scouring the world for places that can provide cannabis cultivation at large scales so that the produce can then be exported to Europe and Oceania where demand is high, with almost no local cultivation.
As I write this, nearly 47 states in the US have legalized cannabis in some form, recreational, agricultural or medical. 38 US states have legalized medical cannabis and 23 US states have legalized adult-use recreational cannabis. Low THC cannabis has been legalized in the US Farm Bill of 2018. As a result of the US Farm Bill, according to NORML - 'Cannabis cultivated in 2021 for the state-legal
adult-use market possessed a wholesale harvest cash value of more than
$5 billion, making it the nation’s sixth most valuable cash crop,
according to an analysis provided today by Leafly.com and Whitney
Economics. Only corn, soybeans, hay, wheat, and cotton bring in more
money on a wholesale basis.In three states – Alaska, Massachusetts, and
New Jersey – cannabis grown for the legal marketplace is the “single
most valuable crop.' Research into cannabis, at universities, industries and governmental research bodies, is reaching new levels with cannabis related research publications featuring among the most published categories. During the Covid pandemic, cannabis businesses were declared for the
first time as essential services, along with medicine and food, in many
of the US states that have legalized it. The lock down served to boost cannabis e-commerce and delivery platforms like never before. Increasingly, in the US, we see that the traditional cannabis communities, such as the Native American Indians, are getting back into the cultivation and sale of cannabis, providing them with a much needed economic boost, after centuries of oppression.
Revenues and taxes from the cannabis industry are fueling funding for education, infrastructure and equity for minorities, who have suffered disproportionately in the war on cannabis. According to NORML- 'Tax revenues derived from licensed retail sales of state-legal, adult-use cannabis products totaled approximately $3.8 billion last year – according to an analysis provided by the Marijuana Policy Project.MPP’s figures do not include revenues derived from the sales of medical cannabis products and/or the collection of state-imposed regulatory fees.' Job creation in the cannabis industry is significant and rising. The cannabis industry employed 321,000 persons in the US in 2020, a number that ranks among the highest industrial categories. The number of roles cover a whole range of skills and career opportunities. Women in the cannabis industry as CEOs was among the highest percentage across industries in the recent past. The cannabis industry in the US offers among the best hourly wages in the US. The quasi-legal nature of the cannabis industry has meant that legal consulting on cannabis is now a lucrative new area for law firms, with clients being large companies and start ups, a change from the old clientele of persons arrested by law enforcement for cannabis related offenses. According to MJ BizDaily - 'The total U.S. economic impact generated by cannabis sales is expected to top $100 billion in 2023, up more than 12% from last year, according to a fresh analysis from the newly published MJBiz Factbook. Looking ahead, upward of $160 billion in additional spending will be added to the U.S economy in 2027, thanks to the opening and/or expansion of new recreational and medical markets in states such as New York, Maryland, Missouri and Kentucky.'
Cannabis, in all its forms, is consumed by persons of all genders, age groups, as well as social and economic backgrounds. This has been so for thousands of years across many cultures. The use of cannabis by consumers ranges from recreational use, to medical use, to wellness, food and beverages, spiritual and industrial use. The UNODC World Drug Report 2020 states 'The cultivation of cannabis plants was reported by 151 countries in the
period 2010–2018 – countries home to 96 per cent of the global
population – and was reported through either direct indicators (such as
the cultivation or eradication of cannabis plants and the eradication of
cannabis-producing sites) or indirect indicators (such as seizures of
cannabis plants and the origin of cannabis seizures reported by other
Member States).' So this is the state of affairs when the plant is banned worldwide and consumers face imprisonment
and social stigma if associated with it. If the plant was legalized
globally, the total number of users would push upwards of 1.2 billion,
with India alone contributing 250+ million users.
Where cannabis is being legalized, the elderly are emerging as the leading age category using cannabis in the legalized scenario, as against the youth forming the majority of consumers in an illicit use scenario. Where cannabis has been legalized, hundreds of thousands of criminal records relating to past cannabis use have been expunged, and workplace testing for cannabis usage has been reduced, thus resulting in a significant addition to the workforce short on skilled personnel. The money that flowed into the black market due to cannabis prohibition is seeing significant reduction, and being diverted to the legal market, in places like Canada.
Where cannabis is being legalized, the elderly are emerging as the leading age category using cannabis in the legalized scenario, as against the youth forming the majority of consumers in an illicit use scenario. Where cannabis has been legalized, hundreds of thousands of criminal records relating to past cannabis use have been expunged, and workplace testing for cannabis usage has been reduced, thus resulting in a significant addition to the workforce short on skilled personnel. The money that flowed into the black market due to cannabis prohibition is seeing significant reduction, and being diverted to the legal market, in places like Canada.
All this has happened in spite of the numerous hurdles that remain for cannabis as a business. The federal US, and nearly all countries of the world, continue to classify cannabis as a scheduled drug that needs regulation and control, with violations resulting in legal action against the individual, be it a grower, seller or consumer of cannabis, by law enforcement agencies, and drug enforcement agencies like the DEA. This prevents banking, research and insurance industries from participating freely in the cannabis market. This also holds back a large number of businesses and individuals, who fear federal action, from entering the cannabis industry. Regulatory controls, such as limited and expensive licenses, prevent the bulk of cannabis grower and sellers, especially the poor farmers, minorities and indigenous communities from entering the legal cannabis market. Cannabis businesses do not enjoy tax exemption under the 280E rules in the US. The ravages of climate change have not spared the cannabis industry, with the past few years seeing cannabis crops destroyed by wildfires, drought and flooding. The widespread perception in society, that cannabis is a harmful and addictive drug, brought on by decades of misinformation and anti-cannabis propaganda sponsored by those who oppose cannabis legalization, such as pharmaceutical companies, the medical industry, petrochemical companies, big alcohol and big tobacco, still remains in most parts of the world. The industries opposed to cannabis, and the nations that back them, such as the US, Germany, Russia, the UK, China, Japan, India, Singapore, Nigeria, Egypt, Indonesia, the oil producing countries of the Middle East, and the heroin and cocaine producing nations, instrumental in cannabis prohibition and the continuation of its illegal status, have now wrecked havoc with the planet and human health. At the global level, the absurd classification of cannabis as a scheduled substance by the UN and WHO, alongside dangerous man-made drugs such as prescription drugs, novel psychoactive substances (NPS), synthetic cannabis, methamphetamine, opioids, alcohol, tobacco, cocaine, etc., is one of the biggest hurdles to the return of cannabis to mainstream society.
The opposing factors to cannabis legalization are, however, temporary hurdles as growing bipartisan support in the US political system promises to change the schedule 1 federal classification. Remember, the US was the most aggressive proponent of global cannabis prohibition, arm-twisting numerous nations to ban cannabis, in line with its own drug policies. More and more nations are forming their own cannabis policies, without fear of reprisals from the UN for violation of its unscientific and outdated cannabis policies. Uruguay, Malta, Luxembourg and Canada
have legalized cannabis for recreational purposes, and there is a
growing number of nations across the world that are starting to pay
attention to the phenomenon of the cannabis plant. Mexico, South Africa, Switzerland, Morocco, etc are taking significant steps in the areas of recreational cannabis, while most of Europe and Oceania take giant strides in legalizing medical cannabis. There are rumblings in Spain, France, Germany, and Italy. Many African nations, such as Uganda, Liberia, Ghana, Kenya, Egypt and Zimbabwe, are loosening the regulations on cultivation of cannabis for agricultural, industrial and medical purposes. According to New Frontier Data - 'While 10 countries in the world have approved cannabis for adult use, only six have adopted systems for regulated distribution of high-THC cannabis products. The Netherlands and Spain have each adopted a decriminalized club/social-use model, and others (e.g., South Africa and Jamaica) have decriminalized cannabis for adult use but only through restricted access for certain demographics or religions (e.g., the Rastafarian community), or legalized adult-use programs but without frameworks for distribution to consumers. '
The official estimates of the number of cannabis consumers world wide is about 260+ million. I estimate the actual numbers to be at least 2-3 times more than this. Global cannabis sales were said to be in the range of $415 billion in 2021, and this is said to be the floor value, rather than ceiling, in terms of sales potential. Asia dominates cannabis sales with $186 billion, with North America coming second and Africa third. In the long term, Europe is likely to overtake North America. The number of users is highest in Asia, though the per capita consumption is highest in the North American market. The illegal market for cannabis still dominates the world of business. In Canada, it was only last year that the legal market finally overtook the illegal market for cannabis. In the US, it is projected that by 2025, the legal market will capture about 35% of the total cannabis sales. In most parts of the world however, there is no legal market to speak of.
The need to legalize cannabis and to pursue the business of cannabis is becoming increasingly urgent. Climate change stares us in the face, and cannabis offers one of the few sustainable ways forward for humans to continue to do business in a sustainable way. The sustainable economics of cannabis is becoming increasingly clear and urgent with each passing day. Media
coverage of cannabis in the past few years have been extensive, and
since money talks very loudly this coverage is only bound to increase. The rescheduling of the cannabis plant, at a global level, will be the metaphorical uncorking of champagne resulting in a global wave of participation in the cannabis industry by countries, entrepreneurs and individuals alike. But then when the head cornerstone is recognized and given its rightful
place, it is only natural that the complete structure will attain its perfect form.
Related articles
The following is a set of articles taken from various media sources and journals putting the exploding cannabis industry in the spotlight.Despite some federal glimmers of hope for the cannabis industry, like the SAFER Banking Act and the possible reclassification of cannabis, the federal government seems comfortable, if not intentional, in its desire to limit or slow the growth of the cannabis industry. Perhaps it is the intent because those in federal law enforcement, the executive branch, and Congress simply cannot get comfortable with federally legalizing and regulating cannabis similarly to other drugs not subject to the CSA, like alcohol and tobacco.
But should they get more comfortable? After all, the "head in the sand approach" has only allowed the black market to thrive and is simply out of touch with the public support for legalization. Gallup News, "Grassroots Support for Legalizing Marijuana Hits Record 70%," Nov. 8, 2023. Almost half the states have legal adult-use cannabis laws (Ohio's recent legalization makes it 24). Perhaps it is time to allow the industry to grow as it naturally would, unfettered and unrestricted by conflicting federal laws.
https://www.reuters.com/legal/litigation/cannabis-remains-an-industry-interrupted-without-federal-change-2023-12-20/
As more states legalize marijuana and more companies enter the market, pot is developing the traits of a mature industry, with big businesses, growing competition and unionization. In 2022, legal sales of marijuana totaled an estimated $26 billion. Currently, 23 states plus the District of Columbia allow both medical and recreational use, and several others have approved marijuana for medical use only. Lawmakers are now debating whether marijuana should be legalized federally, as conflicting laws at different levels of government sow confusion among users and hassles for business owners and law enforcement. Though some tout the benefits of marijuana, others worry about the potential harmful health effects. Some advocates say government regulators should be more involved in overseeing this burgeoning industry, such as limiting pot's increasingly high potency. Meanwhile, public approval of legalization is at a record high.
https://library.cqpress.com/cqresearcher/document.php
But should they get more comfortable? After all, the "head in the sand approach" has only allowed the black market to thrive and is simply out of touch with the public support for legalization. Gallup News, "Grassroots Support for Legalizing Marijuana Hits Record 70%," Nov. 8, 2023. Almost half the states have legal adult-use cannabis laws (Ohio's recent legalization makes it 24). Perhaps it is time to allow the industry to grow as it naturally would, unfettered and unrestricted by conflicting federal laws.
https://www.reuters.com/legal/litigation/cannabis-remains-an-industry-interrupted-without-federal-change-2023-12-20/
As more states legalize marijuana and more companies enter the market, pot is developing the traits of a mature industry, with big businesses, growing competition and unionization. In 2022, legal sales of marijuana totaled an estimated $26 billion. Currently, 23 states plus the District of Columbia allow both medical and recreational use, and several others have approved marijuana for medical use only. Lawmakers are now debating whether marijuana should be legalized federally, as conflicting laws at different levels of government sow confusion among users and hassles for business owners and law enforcement. Though some tout the benefits of marijuana, others worry about the potential harmful health effects. Some advocates say government regulators should be more involved in overseeing this burgeoning industry, such as limiting pot's increasingly high potency. Meanwhile, public approval of legalization is at a record high.
https://library.cqpress.com/cqresearcher/document.php
'Tax revenues derived from licensed retail sales of state-legal, adult-use cannabis products totaled approximately $3.8 billion last year – according to an analysis provided by the Marijuana Policy Project.
MPP’s figures do not include revenues derived from the sales of medical cannabis products and/or the collection of state-imposed regulatory fees.
Adult-use sales generated the greatest amount of revenue in California (roughly $1.1 billion), followed by Illinois, Washington, Michigan, and Colorado.
Since 2014, retail sales of adult-use cannabis products have generated $15.1 billion dollars.
“States that have made the decision to legalize and regulate cannabis are benefiting from hundreds of millions in tax revenue each year,” said Toi Hutchinson, President of MPP. “These new streams of revenue are helping to fund crucial social services and programs across the country, such as education, alcohol and drug treatment, veterans’ services, job training, and reinvestment in communities that have been disproportionately affected by the war on cannabis.”'
https://norml.org/news/2023/05/04/analysis-adult-use-cannabis-sales-have-generated-over-15-billion-in-state-tax-revenue/
MPP’s figures do not include revenues derived from the sales of medical cannabis products and/or the collection of state-imposed regulatory fees.
Adult-use sales generated the greatest amount of revenue in California (roughly $1.1 billion), followed by Illinois, Washington, Michigan, and Colorado.
Since 2014, retail sales of adult-use cannabis products have generated $15.1 billion dollars.
“States that have made the decision to legalize and regulate cannabis are benefiting from hundreds of millions in tax revenue each year,” said Toi Hutchinson, President of MPP. “These new streams of revenue are helping to fund crucial social services and programs across the country, such as education, alcohol and drug treatment, veterans’ services, job training, and reinvestment in communities that have been disproportionately affected by the war on cannabis.”'
https://norml.org/news/2023/05/04/analysis-adult-use-cannabis-sales-have-generated-over-15-billion-in-state-tax-revenue/
'The total U.S. economic impact generated by cannabis sales is expected to top $100 billion in 2023, up more than 12% from last year, according to a fresh analysis from the newly published MJBiz Factbook.
Looking ahead, upward of $160 billion in additional spending will be added to the U.S economy in 2027, thanks to the opening and/or expansion of new recreational and medical markets in states such as New York, Maryland, Missouri and Kentucky.'
https://mjbizdaily.com/cannabis-industry-will-add-100-billion-to-us-economy-in-2023/
Looking ahead, upward of $160 billion in additional spending will be added to the U.S economy in 2027, thanks to the opening and/or expansion of new recreational and medical markets in states such as New York, Maryland, Missouri and Kentucky.'
https://mjbizdaily.com/cannabis-industry-will-add-100-billion-to-us-economy-in-2023/
Cannabis cultivated in 2021 for the state-legal adult-use market possessed a wholesale harvest cash value of more than $5 billion, making it the nation’s sixth most valuable cash crop, according to an analysis provided today by Leafly.com and Whitney Economics. Only corn, soybeans, hay, wheat, and cotton bring in more money on a wholesale basis.
In three states – Alaska, Massachusetts, and New Jersey – cannabis grown for the legal marketplace is the “single most valuable crop.
https://norml.org/blog/2022/11/01/report-legal-cannabis-once-again-ranks-among-nations-most-valuable-crops/
Regulators in California collected the largest amount of excise tax revenue ($774 million) while regulators in Alaska collected the least ($30 million).
In the two states with the most mature adult-use cannabis markets – Colorado and Washington – cannabis excise tax revenues outpaced those collected on the sale of alcohol and tobacco. “Broadly speaking, the experience of Colorado and Washington demonstrate that a state can collect a significant amount of revenue from marijuana taxes and that collection should mostly increase over time,” the report’s authors wrote.
The Center’s analysis did not tabulate additional revenues generated from state sales taxes and/or locally imposed taxes on cannabis products.
https://norml.org/news/2022/10/13/analysis-marijuana-excise-taxes-yield-nearly-3-billion-in-revenue-in-fiscal-year-2022
Even if all the nations of the world legalized cannabis for all purposes - medicinal, intoxicant, food and industrial purposes - TODAY, a feat not impossible as all it takes is for the UN to change global drug laws and every nation to follow suit by changing their individual national drug laws with the same alacrity that all showed in embracing the fake pandemic Covid, it would still take at least a decade for cannabis to become truly pervasive significantly reducing the footprint of the following industries: the synthetic pharmaceutical drug industry for medicine; the global synthetic recreational drug industry, alcohol and tobacco for intoxicant; unsustainable rice, wheat and cotton as agricultural crops on current scales; the chemical fertilizer industry through organic farming of climate resistant cannabis; the petrochemical based non-biodegradable plastics and synthetics industries as industrial sources of raw materials. Even then much of the damage may be irrepairable, such as the omnipresent microplastics, and the contamination of land, water and air by synthetic pharmaceuticals, chemical fertilizers, fossil fuels and petrochemicals. But there is a chance that we could at least slow this down or even stall it. However, these industries - petrochemicals, synthetic pharmaceuticals, chemical fertilizers, alcohol and tobacco are the biggest industries in the world today. The world's rich to whom these industries belong, and the governments that they own and fund, will do all they can to prevent this, including the use of the arms industry who fear a peaceful world of cannabis as a threat to their existence as much as the rich and the governments. This means that what could take a decade if all are fully committed will most likely take much more time. The two years lost to the fake pandemic Covid were accelerated steps in the opposite direction to that which we should have been taking. Do we have that much time to change course? Will nature and human insanity give us the time? Today, all global leaders are floundering helplessly and aimlessly, with what is being proposed as solutions to the catastrophic problem being nothing more than cosmetic makeovers, while they work to consolidate their own positions and the rich strive to get richer. At a time when all possible options must be considered, no, pursued with great urgency, even then it may not be enough, we find humanity moving with determination like zombies towards the sixth extinction...What is overwhelmingly evident is the human delusion that man is the master of nature and an insane stubbornness to pursue natural ways...
In three states – Alaska, Massachusetts, and New Jersey – cannabis grown for the legal marketplace is the “single most valuable crop.
https://norml.org/blog/2022/11/01/report-legal-cannabis-once-again-ranks-among-nations-most-valuable-crops/
Regulators in California collected the largest amount of excise tax revenue ($774 million) while regulators in Alaska collected the least ($30 million).
In the two states with the most mature adult-use cannabis markets – Colorado and Washington – cannabis excise tax revenues outpaced those collected on the sale of alcohol and tobacco. “Broadly speaking, the experience of Colorado and Washington demonstrate that a state can collect a significant amount of revenue from marijuana taxes and that collection should mostly increase over time,” the report’s authors wrote.
The Center’s analysis did not tabulate additional revenues generated from state sales taxes and/or locally imposed taxes on cannabis products.
https://norml.org/news/2022/10/13/analysis-marijuana-excise-taxes-yield-nearly-3-billion-in-revenue-in-fiscal-year-2022
Even if all the nations of the world legalized cannabis for all purposes - medicinal, intoxicant, food and industrial purposes - TODAY, a feat not impossible as all it takes is for the UN to change global drug laws and every nation to follow suit by changing their individual national drug laws with the same alacrity that all showed in embracing the fake pandemic Covid, it would still take at least a decade for cannabis to become truly pervasive significantly reducing the footprint of the following industries: the synthetic pharmaceutical drug industry for medicine; the global synthetic recreational drug industry, alcohol and tobacco for intoxicant; unsustainable rice, wheat and cotton as agricultural crops on current scales; the chemical fertilizer industry through organic farming of climate resistant cannabis; the petrochemical based non-biodegradable plastics and synthetics industries as industrial sources of raw materials. Even then much of the damage may be irrepairable, such as the omnipresent microplastics, and the contamination of land, water and air by synthetic pharmaceuticals, chemical fertilizers, fossil fuels and petrochemicals. But there is a chance that we could at least slow this down or even stall it. However, these industries - petrochemicals, synthetic pharmaceuticals, chemical fertilizers, alcohol and tobacco are the biggest industries in the world today. The world's rich to whom these industries belong, and the governments that they own and fund, will do all they can to prevent this, including the use of the arms industry who fear a peaceful world of cannabis as a threat to their existence as much as the rich and the governments. This means that what could take a decade if all are fully committed will most likely take much more time. The two years lost to the fake pandemic Covid were accelerated steps in the opposite direction to that which we should have been taking. Do we have that much time to change course? Will nature and human insanity give us the time? Today, all global leaders are floundering helplessly and aimlessly, with what is being proposed as solutions to the catastrophic problem being nothing more than cosmetic makeovers, while they work to consolidate their own positions and the rich strive to get richer. At a time when all possible options must be considered, no, pursued with great urgency, even then it may not be enough, we find humanity moving with determination like zombies towards the sixth extinction...What is overwhelmingly evident is the human delusion that man is the master of nature and an insane stubbornness to pursue natural ways...
'American Indian communities are increasingly collaborating to get a piece of the explosive growth of the cannabis industry by offering products based on tribal medicine from their ancestral origins.
The partnerships are helping break down longstanding barriers to Indigenous entrepreneurship in the marijuana and hemp industries.
“When we all are doing this together, we all win,” said Chenae Bullock, managing director of New York’s Little Beach Harvest and the Shinnecock Nation cannabis division, which has joined with Tilt Holdings, a Massachusetts-based multistate cannabis operator, to establish a vertically integrated marijuana business on Shinnecock tribal lands.
“I call them ancient trade routes,” she said. “We’ve been doing commerce with tribes since before colonialism.”
Tribes are also joining forces to share expertise.'
https://mjbizdaily.com/american-indian-tribes-building-marijuana-partnerships/
The partnerships are helping break down longstanding barriers to Indigenous entrepreneurship in the marijuana and hemp industries.
“When we all are doing this together, we all win,” said Chenae Bullock, managing director of New York’s Little Beach Harvest and the Shinnecock Nation cannabis division, which has joined with Tilt Holdings, a Massachusetts-based multistate cannabis operator, to establish a vertically integrated marijuana business on Shinnecock tribal lands.
“I call them ancient trade routes,” she said. “We’ve been doing commerce with tribes since before colonialism.”
Tribes are also joining forces to share expertise.'
https://mjbizdaily.com/american-indian-tribes-building-marijuana-partnerships/
'Marijuana sales in California, Colorado, Nevada, Oregon and Washington state grew 39.2% in 2020 as consumers reacted to the new reality of the COVID-19 pandemic and cannabis retailers were deemed essential throughout much of the country.
But analysis of sales data from the states and Headset, a Seattle-based analytics firm, show that 2020 growth in five Western states began declining after May of this year.
Total growth of those five states is only 15.9% compared to the same time period in 2020.'
https://mjbizdaily.com/adult-use-cannabis-sales-slip-from-2020-pace-after-lackluster-summer/
'When members of the cannabis industry descended upon Las Vegas last week for the biggest trade show in the business, there was something stirring in the air. It wasn't the aroma of a freshly lit joint, but rather a sense that everything seems to be coming up roses for the industry.
Despite a global pandemic, discombobulated supply chains, ballooning inflation and an ongoing fight to legalize marijuana on a federal level, the cannabis industry in America is flourishing.'
https://edition.cnn.com/2021/10/28/business/cannabis-booming-industry-mjbizcon/index.html
'An estimated 321,000 people now work in the legal cannabis industry in the U.S. That’s a 32% increase over last year, making it one of the fastest-growing sectors in the country.
The U.S. cannabis workforce now outnumbers dentists, paramedics and electrical engineers.
The marijuana industry is one of the very few sectors of the economy that has continued to grow amid the pandemic. As dispensaries and cultivation facilities were deemed as “essential,” the industry became a refuge for workers who had been laid off or furloughed.
Most of them came from the retail and restaurant industries, which are still struggling to get them back, even with adding various benefits upon the sign-up.
Even as the pandemic eased, cannabis jobs have continued to grow, adding nearly 80,000 jobs in 2020, more than double what it did the year before.'
https://safehaven.com/news/Breaking-News/The-Cannabis-Industry-Is-Looking-To-Fill-The-Employment-Gap.html
'In this episode of Seed to CEO, Lisa shares:
- How she identified the need for a marketing association and how what she did can be used as a model for other professional groups.
- How her event-driven cannabis group adapted during the COVID-19 pandemic.
- How to strategically scale an organization such as the CMA even as new markets are still getting off the ground.
- Why marketing really matters in cannabis.'
https://mjbizdaily.com/podcast/marketing-mixer-how-a-quest-for-answers-resulted-in-a-new-cannabis-association/
But analysis of sales data from the states and Headset, a Seattle-based analytics firm, show that 2020 growth in five Western states began declining after May of this year.
Total growth of those five states is only 15.9% compared to the same time period in 2020.'
https://mjbizdaily.com/adult-use-cannabis-sales-slip-from-2020-pace-after-lackluster-summer/
'When members of the cannabis industry descended upon Las Vegas last week for the biggest trade show in the business, there was something stirring in the air. It wasn't the aroma of a freshly lit joint, but rather a sense that everything seems to be coming up roses for the industry.
Despite a global pandemic, discombobulated supply chains, ballooning inflation and an ongoing fight to legalize marijuana on a federal level, the cannabis industry in America is flourishing.'
https://edition.cnn.com/2021/10/28/business/cannabis-booming-industry-mjbizcon/index.html
'An estimated 321,000 people now work in the legal cannabis industry in the U.S. That’s a 32% increase over last year, making it one of the fastest-growing sectors in the country.
The U.S. cannabis workforce now outnumbers dentists, paramedics and electrical engineers.
The marijuana industry is one of the very few sectors of the economy that has continued to grow amid the pandemic. As dispensaries and cultivation facilities were deemed as “essential,” the industry became a refuge for workers who had been laid off or furloughed.
Most of them came from the retail and restaurant industries, which are still struggling to get them back, even with adding various benefits upon the sign-up.
Even as the pandemic eased, cannabis jobs have continued to grow, adding nearly 80,000 jobs in 2020, more than double what it did the year before.'
https://safehaven.com/news/Breaking-News/The-Cannabis-Industry-Is-Looking-To-Fill-The-Employment-Gap.html
'In this episode of Seed to CEO, Lisa shares:
- How she identified the need for a marketing association and how what she did can be used as a model for other professional groups.
- How her event-driven cannabis group adapted during the COVID-19 pandemic.
- How to strategically scale an organization such as the CMA even as new markets are still getting off the ground.
- Why marketing really matters in cannabis.'
https://mjbizdaily.com/podcast/marketing-mixer-how-a-quest-for-answers-resulted-in-a-new-cannabis-association/
'Among the report’s key takeaways were:
- Given that $415 billion in global sales, “Cannabis already represents a market of global consequence,” the report says. Also, this sales figure is the “floor,” not the “ceiling,” the report says.
- Worldwide, one-third of nations have passed some form of legalization, but most programs are too restrictive to be considered operational high-THC markets.
- More than 4.4 million patients globally are registered in medical programs, with that number forecast to reach 7 million by 2025 despite limited physician education.
- “North America will remain the global epicenter of legal cannabis for the foreseeable future.”'
https://www.greenentrepreneur.com/article/387636
- Given that $415 billion in global sales, “Cannabis already represents a market of global consequence,” the report says. Also, this sales figure is the “floor,” not the “ceiling,” the report says.
- Worldwide, one-third of nations have passed some form of legalization, but most programs are too restrictive to be considered operational high-THC markets.
- More than 4.4 million patients globally are registered in medical programs, with that number forecast to reach 7 million by 2025 despite limited physician education.
- “North America will remain the global epicenter of legal cannabis for the foreseeable future.”'
https://www.greenentrepreneur.com/article/387636
'But nowhere is cannabis's promise greater — or the change it could forge as impactful — than in social equity, criminal justice, job creation and economic development.
Once considered a direct road to incarceration, especially for people of color, cannabis should be considered a viable path to the middle class. Where it once decimated communities and destroyed families, cannabis can be a reliable generator of tax revenue to fund social and public health programs. Cannabis used to put people in jail. Now it puts people to work.
Legal cannabis has already added about 340,000 new jobs to the nation's economy, according to New Frontier Data. If cannabis was legal in all 50 states and at the federal level, New Frontier estimates 1.46 million jobs would be created and as much as $175.8 billion in tax revenue could be generated.
As every other indicator moves forward at warp speed, state and local social equity programs, decriminalization efforts and criminal record expungement, and the creation of free and open local markets drag at a snail's pace. The people who laid the foundation for the legal industry (and went to jail for it) and the communities that were disproportionately (and negatively) impacted by the "war on drugs" will just suffer again. People (predominantly men of color) are confined in overcrowded prisons for doing in the past what corporate cannabis is praised for doing today. Local and state coffers, wiped out by COVID, miss out on tax revenue, job creation and economic development opportunities due to racist local control ordinances, arbitrary license caps and ridiculous "Not-in-my-backyard"-ism. '
https://thehill.com/changing-america/opinion/574321-america-is-changing-cannabis-tells-the-story
Once considered a direct road to incarceration, especially for people of color, cannabis should be considered a viable path to the middle class. Where it once decimated communities and destroyed families, cannabis can be a reliable generator of tax revenue to fund social and public health programs. Cannabis used to put people in jail. Now it puts people to work.
Legal cannabis has already added about 340,000 new jobs to the nation's economy, according to New Frontier Data. If cannabis was legal in all 50 states and at the federal level, New Frontier estimates 1.46 million jobs would be created and as much as $175.8 billion in tax revenue could be generated.
As every other indicator moves forward at warp speed, state and local social equity programs, decriminalization efforts and criminal record expungement, and the creation of free and open local markets drag at a snail's pace. The people who laid the foundation for the legal industry (and went to jail for it) and the communities that were disproportionately (and negatively) impacted by the "war on drugs" will just suffer again. People (predominantly men of color) are confined in overcrowded prisons for doing in the past what corporate cannabis is praised for doing today. Local and state coffers, wiped out by COVID, miss out on tax revenue, job creation and economic development opportunities due to racist local control ordinances, arbitrary license caps and ridiculous "Not-in-my-backyard"-ism. '
https://thehill.com/changing-america/opinion/574321-america-is-changing-cannabis-tells-the-story
'As spearheaded by the HFC, several universities nationwide are studying the safety and efficacy of hemp and its byproducts. In August 2020, HFC earned an Agricultural Products Utilization Commission grant from the North Dakota Department of Agriculture to help fund a study of hempseed cake and meal in chicken feed. Likewise, researchers from Kansas State University were awarded a $200,000 federal USDA grant to study cannabinoid transference in the meat, milk, and eggs of hemp-fed animal byproducts in cattle feed. In March, the USDA’s National Institute of Food and Agriculture (NIFA) granted nearly $300,000 to Oregon State University for research into feeding spent hemp biomass to cattle. In addition to those, Colorado State University is studying hemp seed meal for lambs, Tuskegee University is studying the impact of hemp seed meal on goats, and North Carolina State University is studying the effect of hemp seed oil on horses.
Hemp industry stakeholders are banking on the approval of hemp grain ingredients. A 2019 Farm Journal survey of 950 U.S. farmers and ranchers found 60% of respondents agreeing that farmers should grow hemp for animal feed, while 48% agreed that they would use hemp for animal feed themselves. Approval of hemp for the animal feed market would greatly broaden the total addressable market for hemp producers. The American Feed Industry Association reports there being more than 5,800 animal food manufacturing facilities in the U.S. producing more than 284 million tons of finished feed and pet food each year. The domestic animal feed industry meanwhile supports over 944,000 jobs, ranking it among the largest economic contributors to the U.S. agricultural sector.
In addition to having the world’s largest fed-cattle industry, the U.S. is also the world’s largest consumer of beef—primarily high-value, grain-fed beef. In 2019, the Institute for Feed Education and Research (IFEEDER) found that major species of livestock, poultry, aquaculture, and pets in the United States consumed approximately 284 million tons of feed, with a value of $59.9 billion. Beef cattle consumed 64.5 million tons of feed, hogs consumed 61.8 million tons, and broiler chickens consumed 60.8 million tons, respectively.'
https://newfrontierdata.com/cannabis-insights/aafcos-hurry-up-and-wait-approach-for-approval-of-hemp-as-animal-feed/
Hemp industry stakeholders are banking on the approval of hemp grain ingredients. A 2019 Farm Journal survey of 950 U.S. farmers and ranchers found 60% of respondents agreeing that farmers should grow hemp for animal feed, while 48% agreed that they would use hemp for animal feed themselves. Approval of hemp for the animal feed market would greatly broaden the total addressable market for hemp producers. The American Feed Industry Association reports there being more than 5,800 animal food manufacturing facilities in the U.S. producing more than 284 million tons of finished feed and pet food each year. The domestic animal feed industry meanwhile supports over 944,000 jobs, ranking it among the largest economic contributors to the U.S. agricultural sector.
In addition to having the world’s largest fed-cattle industry, the U.S. is also the world’s largest consumer of beef—primarily high-value, grain-fed beef. In 2019, the Institute for Feed Education and Research (IFEEDER) found that major species of livestock, poultry, aquaculture, and pets in the United States consumed approximately 284 million tons of feed, with a value of $59.9 billion. Beef cattle consumed 64.5 million tons of feed, hogs consumed 61.8 million tons, and broiler chickens consumed 60.8 million tons, respectively.'
https://newfrontierdata.com/cannabis-insights/aafcos-hurry-up-and-wait-approach-for-approval-of-hemp-as-animal-feed/
'Harris wrote that the new program will entail:
- More training and job aids for IRS agents conducting marijuana business audits.
- “Coordination and a consistent approach” by the IRS toward the entire cannabis industry.
- Figuring out new ways “to identify non-compliant taxpayers.”
- Collaborating with “external stakeholders” to educate more in the industry as to their tax obligations under 280E.
- Disseminating more information to those in the industry on how to comply with 280E.
'
https://mjbizdaily.com/irs-debuts-initiative-to-help-cannabis-companies-pay-taxes-properly/
- More training and job aids for IRS agents conducting marijuana business audits.
- “Coordination and a consistent approach” by the IRS toward the entire cannabis industry.
- Figuring out new ways “to identify non-compliant taxpayers.”
- Collaborating with “external stakeholders” to educate more in the industry as to their tax obligations under 280E.
- Disseminating more information to those in the industry on how to comply with 280E.
'
https://mjbizdaily.com/irs-debuts-initiative-to-help-cannabis-companies-pay-taxes-properly/
'Cannabis companies need advice on intellectual property, employment, taxes, license and regulatory compliance, lending and financial transactions, mergers and acquisitions, and a host of other specialty practice areas. That creates rich veins for lawyers to mine for billable opportunities.'
https://news.bloomberglaw.com/us-law-week/cannabis-practices-sprout-as-big-law-firms-follow-the-money
https://news.bloomberglaw.com/us-law-week/cannabis-practices-sprout-as-big-law-firms-follow-the-money
'Annual global legal sales of adult-use cannabis are projected to double those of legal medical sales by 2025, despite the higher number of medical markets globally.
While 10 countries in the world have approved cannabis for adult use, only six have adopted systems for regulated distribution of high-THC cannabis products. The Netherlands and Spain have each adopted a decriminalized club/social-use model, and others (e.g., South Africa and Jamaica) have decriminalized cannabis for adult use but only through restricted access for certain demographics or religions (e.g., the Rastafarian community), or legalized adult-use programs but without frameworks for distribution to consumers.
During calendar year 2020, there were a total of four legally operating adult-use cannabis markets with regulated retail sales, dominated by the U.S. and Canada. Uruguay, the world’s first country to fully legalize and regulate adult-use cannabis, sold roughly 1,700 kg of high-THC cannabis to registered adults, while the Netherlands sold an estimated $104 million worth of high-THC cannabis through its network of retail coffee shops.'
https://newfrontierdata.com/cannabis-insights/catching-up-for-lost-time-legal-cannabis-markets-project-to-top-51-billion-globally-by-2025/
While 10 countries in the world have approved cannabis for adult use, only six have adopted systems for regulated distribution of high-THC cannabis products. The Netherlands and Spain have each adopted a decriminalized club/social-use model, and others (e.g., South Africa and Jamaica) have decriminalized cannabis for adult use but only through restricted access for certain demographics or religions (e.g., the Rastafarian community), or legalized adult-use programs but without frameworks for distribution to consumers.
During calendar year 2020, there were a total of four legally operating adult-use cannabis markets with regulated retail sales, dominated by the U.S. and Canada. Uruguay, the world’s first country to fully legalize and regulate adult-use cannabis, sold roughly 1,700 kg of high-THC cannabis to registered adults, while the Netherlands sold an estimated $104 million worth of high-THC cannabis through its network of retail coffee shops.'
https://newfrontierdata.com/cannabis-insights/catching-up-for-lost-time-legal-cannabis-markets-project-to-top-51-billion-globally-by-2025/
'When we look at other disruptive industries in the U.S. throughout history, almost all legislative change came after private enterprise exerted pressure on the federal government to acknowledge and accommodate their interests.
From oil and gas to electric vehicles to cryptocurrencies to gambling, the interest of big business catalyzes change. We are seeing a similar pattern emerge in cannabis.
Federal legalization is important to the future of the industry and something many Americans are eager for.
But the independent political movements in Washington DC should be less of a signal of what is to come than the movements of big business.
Know where to focus your attention. Legalization is coming.'
https://mjbizdaily.com/wheels-of-capitalism-not-congress-are-driving-marijuana-legislation/
'The estimated $415 billion in total sales during 2020 reflects the floor, not the ceiling, for cannabis’ long-term market opportunity. Beyond the transition of current spending from illicit to legal markets, there will be additional market growth as scientific research establishes new therapeutic applications for cannabis-derived compounds. Innovation and commercialization will introduce product forms to improve each the product quality, convenience, dosing, and consumer experience for customers. Advancements in industrial applications for cannabis biomass will create new revenue potential among non-ingestible applications for the plant. While much of the global demand would be traditionally classified as recreational, expansion and adoption of medical and industrial applications will expand the total market opportunity well beyond its current reach.
With more than 268 million cannabis consumers globally, further social acceptance and normalization of cannabis use will draw a massive consumer group with corresponding buying potential. As New Frontier Data’s cannabis consumer research has shown, consumption use spans the spectrum of demographic and socioeconomic strata. Far from being monolithic, cannabis consumers represent a highly diverse and richly varied cross-section of society. The emergence of cannabis consumers as a stand-alone market segment, combined with deepening understanding about where each consumer fits within the broader economy, will be key to building products, brands, and experiences aligned with the consequential but often misunderstood consumer group.'
https://newfrontierdata.com/cannabis-insights/cannabis-reforms-worldwide-aim-to-expand-legal-sales-beyond-50-billion-in-2025/
'Ah!
Those were the days. They worked out of a hut on the Bwenelli Atoll on Fanalla before the Riktanarqals and the Danqueds vertled it. Half a dozen guys, some towels, a handful of highly sophisticated digital devices, and most importantly a lot of dreams. No. Most importantly a lot of Fanallan rum. To be completely accurate, that Ol' Janx Spirit was the absolute most important thing, then the Fanallan rum, and also some of the beaches on the atoll where the local girls would hang out, but the dreams were important as well. Whatever happened to those?
He couldn't quite remember what the dreams were, in fact, but they had seemed immensely important at the time. They had certainly not involved this huge towering office block he was now falling down the side of. All of that had come when some of the original team had started to settle down and get greedy, while he and others had stayed out in the field, researching and hitchhiking, and gradually becoming more and more isolated from the corporate nightmare the Guide had inexorably turned into, and the architectural monstrosity it had come to occupy. Where were the dreams in that? He thought of all the corporate lawyers who occupied half the building, all the 'operatives' who occupied the lower levels, and all the sub-editors and their secretaries and their secretaries' lawyers and their secretaries' lawyers' secretaries, and worst of all the accountants and the marketing department.
He had half a mind just to keep on falling. Two fingers to the lot of them.'
- The Hitchhiker's Guide to the Galaxy, The Complete Trilogy of Five, Douglas Adams
From oil and gas to electric vehicles to cryptocurrencies to gambling, the interest of big business catalyzes change. We are seeing a similar pattern emerge in cannabis.
Federal legalization is important to the future of the industry and something many Americans are eager for.
But the independent political movements in Washington DC should be less of a signal of what is to come than the movements of big business.
Know where to focus your attention. Legalization is coming.'
https://mjbizdaily.com/wheels-of-capitalism-not-congress-are-driving-marijuana-legislation/
'The estimated $415 billion in total sales during 2020 reflects the floor, not the ceiling, for cannabis’ long-term market opportunity. Beyond the transition of current spending from illicit to legal markets, there will be additional market growth as scientific research establishes new therapeutic applications for cannabis-derived compounds. Innovation and commercialization will introduce product forms to improve each the product quality, convenience, dosing, and consumer experience for customers. Advancements in industrial applications for cannabis biomass will create new revenue potential among non-ingestible applications for the plant. While much of the global demand would be traditionally classified as recreational, expansion and adoption of medical and industrial applications will expand the total market opportunity well beyond its current reach.
With more than 268 million cannabis consumers globally, further social acceptance and normalization of cannabis use will draw a massive consumer group with corresponding buying potential. As New Frontier Data’s cannabis consumer research has shown, consumption use spans the spectrum of demographic and socioeconomic strata. Far from being monolithic, cannabis consumers represent a highly diverse and richly varied cross-section of society. The emergence of cannabis consumers as a stand-alone market segment, combined with deepening understanding about where each consumer fits within the broader economy, will be key to building products, brands, and experiences aligned with the consequential but often misunderstood consumer group.'
https://newfrontierdata.com/cannabis-insights/cannabis-reforms-worldwide-aim-to-expand-legal-sales-beyond-50-billion-in-2025/
'Ah!
Those were the days. They worked out of a hut on the Bwenelli Atoll on Fanalla before the Riktanarqals and the Danqueds vertled it. Half a dozen guys, some towels, a handful of highly sophisticated digital devices, and most importantly a lot of dreams. No. Most importantly a lot of Fanallan rum. To be completely accurate, that Ol' Janx Spirit was the absolute most important thing, then the Fanallan rum, and also some of the beaches on the atoll where the local girls would hang out, but the dreams were important as well. Whatever happened to those?
He couldn't quite remember what the dreams were, in fact, but they had seemed immensely important at the time. They had certainly not involved this huge towering office block he was now falling down the side of. All of that had come when some of the original team had started to settle down and get greedy, while he and others had stayed out in the field, researching and hitchhiking, and gradually becoming more and more isolated from the corporate nightmare the Guide had inexorably turned into, and the architectural monstrosity it had come to occupy. Where were the dreams in that? He thought of all the corporate lawyers who occupied half the building, all the 'operatives' who occupied the lower levels, and all the sub-editors and their secretaries and their secretaries' lawyers and their secretaries' lawyers' secretaries, and worst of all the accountants and the marketing department.
He had half a mind just to keep on falling. Two fingers to the lot of them.'
- The Hitchhiker's Guide to the Galaxy, The Complete Trilogy of Five, Douglas Adams
'The Global Cannabis Report: Growth & Trends Through 2025, breaks ground as a first-of-its-kind study addressing and incorporating illicit market sales and other unique forces at work to size 24 countries offering legal access to high-THC cannabis for medical or adult-use today, 22 of which being sized for the very first time. The report also provides an analysis of total annual global cannabis demand based on current usage rates, prices, and consumption trends from both legal and illicit sources within all 217 countries considered in the analysis.
Download your free copy to learn about key trends and projections shaping the global cannabis economy:
- Global sales of high-THC cannabis through legal regulated sources totaled $23.7B in 2020, with the U.S. alone accounting for $20.3B.
- Building on expanding legal access and strong consumer demand, sales in current legal markets are forecast to exceed $50B by 2025.
- Total global consumer spending on legal and illicit high-THC cannabis is projected to grow from $415B in 2020 to $496B by 2025 (a CAGR of 3.6%)'
https://info.newfrontierdata.com/global-report-2021
''The reason we don't sell billions and billions of Guides,' continued Harl, after wiping his mouth, 'is the expense. What we do is sell one Guide billions and billions of times. We exploit the multidimensional nature of the Universe to cut down on manufacturing costs. And we don't sell to penniless hitchhikers. What a stupid notion that was! Find the one section of the market that, more or less by definition, doesn't have any money, and try and sell to it. No. We sell to the affluent business traveller and his vacationing wife in a billion, billion different futures. This is the most radical, dynamic and thrusting business venture in the entire multi-dimensional infinity of space/time/probability ever.'
- The Hitchhiker's Guide to the Galaxy, The Complete Trilogy of Five, Douglas Adams
Download your free copy to learn about key trends and projections shaping the global cannabis economy:
- Global sales of high-THC cannabis through legal regulated sources totaled $23.7B in 2020, with the U.S. alone accounting for $20.3B.
- Building on expanding legal access and strong consumer demand, sales in current legal markets are forecast to exceed $50B by 2025.
- Total global consumer spending on legal and illicit high-THC cannabis is projected to grow from $415B in 2020 to $496B by 2025 (a CAGR of 3.6%)'
https://info.newfrontierdata.com/global-report-2021
''The reason we don't sell billions and billions of Guides,' continued Harl, after wiping his mouth, 'is the expense. What we do is sell one Guide billions and billions of times. We exploit the multidimensional nature of the Universe to cut down on manufacturing costs. And we don't sell to penniless hitchhikers. What a stupid notion that was! Find the one section of the market that, more or less by definition, doesn't have any money, and try and sell to it. No. We sell to the affluent business traveller and his vacationing wife in a billion, billion different futures. This is the most radical, dynamic and thrusting business venture in the entire multi-dimensional infinity of space/time/probability ever.'
- The Hitchhiker's Guide to the Galaxy, The Complete Trilogy of Five, Douglas Adams
'The Canadian cannabis industry is becoming more fragmented than ever, with the biggest licensed producers continuing to lose market share as a whole, according to a report by Bank of Montreal analyst Tamy Chen.
Citing data from analytics firm Hifyre, the report notes that the top five licensed producers represented less than 40% of the Canadian market in August, down substantially from a year ago when the producers accounted for more than half of all retail sales.
Similarly, the top nine cannabis producers accounted for almost 80% of the market last year, but that has fallen to a combined 62%.
The fragmentation comes despite month after month of record sales across Canada and significant spending on mergers and acquisitions this year, including the blockbuster combination of Tilray and Aphria.'
https://mjbizdaily.com/canadian-cannabis-industry-increasingly-fragmented-despite-ma/
Citing data from analytics firm Hifyre, the report notes that the top five licensed producers represented less than 40% of the Canadian market in August, down substantially from a year ago when the producers accounted for more than half of all retail sales.
Similarly, the top nine cannabis producers accounted for almost 80% of the market last year, but that has fallen to a combined 62%.
The fragmentation comes despite month after month of record sales across Canada and significant spending on mergers and acquisitions this year, including the blockbuster combination of Tilray and Aphria.'
https://mjbizdaily.com/canadian-cannabis-industry-increasingly-fragmented-despite-ma/
'Cannabis delivery and technology companies say that Apple’s recent decision to let iPhone apps process marijuana transactions is already bringing benefits after these businesses launched new apps for Apple’s iOS smartphone operating system.
Upsides of the change to Apple’s App Store rules for cannabis companies and marijuana tech platforms include:
- Seamless ordering and purchasing, because cannabis consumers can perform transactions within apps instead of having to complete them via a mobile web browser.
- Greater willingness for online shoppers to actually purchase cannabis.
- Improved customer engagement.
- An early increase in orders.'
https://mjbizdaily.com/apples-new-cannabis-app-rules-benefit-marijuana-businesses-but-google-a-holdout/
Upsides of the change to Apple’s App Store rules for cannabis companies and marijuana tech platforms include:
- Seamless ordering and purchasing, because cannabis consumers can perform transactions within apps instead of having to complete them via a mobile web browser.
- Greater willingness for online shoppers to actually purchase cannabis.
- Improved customer engagement.
- An early increase in orders.'
https://mjbizdaily.com/apples-new-cannabis-app-rules-benefit-marijuana-businesses-but-google-a-holdout/
'Large Canadian cannabis producers are turning to small-batch cultivators to tap into a growing consumer appetite for higher-quality “premium” marijuana products.
To that end, some large licensed producers have entered into partnerships with craft companies. Others have bought them outright, and some are buying craft cannabis in the wholesale market for resale at the retail level.
The rise of small-batch production comes after mass producers spent years and billions of dollars cultivating cannabis, the vast majority of which was ultimately unsaleable. An MJBizDaily analysis found that Canadian LPs destroyed more cannabis than they managed to sell in legal channels from 2018 through 2020.'
https://mjbizdaily.com/how-large-canadian-cannabis-producers-are-leveraging-small-batch-craft-cultivation/
To that end, some large licensed producers have entered into partnerships with craft companies. Others have bought them outright, and some are buying craft cannabis in the wholesale market for resale at the retail level.
The rise of small-batch production comes after mass producers spent years and billions of dollars cultivating cannabis, the vast majority of which was ultimately unsaleable. An MJBizDaily analysis found that Canadian LPs destroyed more cannabis than they managed to sell in legal channels from 2018 through 2020.'
https://mjbizdaily.com/how-large-canadian-cannabis-producers-are-leveraging-small-batch-craft-cultivation/
'From wildfires to drought to hurricanes, a changing climate means more extreme weather for cannabis companies up and down the supply chain.
But no one is more directly impacted by these changes than marijuana growers.
Depending on where a grow operation is located, the challenge that climate change presents is different.'
https://mjbizdaily.com/how-cannabis-cultivators-are-combatting-the-effects-of-climate-change/
But no one is more directly impacted by these changes than marijuana growers.
Depending on where a grow operation is located, the challenge that climate change presents is different.'
https://mjbizdaily.com/how-cannabis-cultivators-are-combatting-the-effects-of-climate-change/
'“The purpose of the proposed initial survey is to develop national and State estimates of the hemp planted and produced in 2020,” a USDA explanatory document says. “The survey will be conducted annually. The questionnaires used for this survey will collect data for hemp produced in the open as well as under cover (greenhouses, low or high tunnels, hoop houses, etc.).”
“Hemp produced in the open will have data collected for five categories of hemp (flower, grain, fiber, seed, and other). Hemp produced under cover will have data collected for four categories of hemp (flower, clones or transplants, seed, or other),” it continues. “Similar questions will be asked for these different categories relating to amount harvested and prices received for each of the crops. In addition, there will be some demographic questions about the operator.”'
https://www.marijuanamoment.net/usda-launches-national-survey-of-20000-hemp-farmers-to-inform-policy-and-industry-stakeholders/
“Hemp produced in the open will have data collected for five categories of hemp (flower, grain, fiber, seed, and other). Hemp produced under cover will have data collected for four categories of hemp (flower, clones or transplants, seed, or other),” it continues. “Similar questions will be asked for these different categories relating to amount harvested and prices received for each of the crops. In addition, there will be some demographic questions about the operator.”'
https://www.marijuanamoment.net/usda-launches-national-survey-of-20000-hemp-farmers-to-inform-policy-and-industry-stakeholders/
'People like Charles have to keep hundreds of thousands of dollars of cash on them, along with buckets of change, so they can keep track of every single cent that goes in and out of the business.
“Imagine you have to do everything in your life in cash, and that’s it. You don’t have a debit card; you don’t have a checkbook; you can’t do anything online, just cash. A contractor comes in, an electrician, does $60,000 worth of work. You’ve got to have $60,000 worth of cash on you. It’s daunting, and you have to have systems on systems on systems,” says Charles.'
https://www.leafly.com/news/industry/the-dangers-of-running-a-multimillion-dollar-cash-business
“Imagine you have to do everything in your life in cash, and that’s it. You don’t have a debit card; you don’t have a checkbook; you can’t do anything online, just cash. A contractor comes in, an electrician, does $60,000 worth of work. You’ve got to have $60,000 worth of cash on you. It’s daunting, and you have to have systems on systems on systems,” says Charles.'
https://www.leafly.com/news/industry/the-dangers-of-running-a-multimillion-dollar-cash-business
'Regenerative organic cultivation standards encourage the planting of cannabis alongside food crops with strategic use of cover crops, composting, mulching and reduced soil tillage – methods that have been shown to sequester carbon from the atmosphere and are championed as a part of the solution to global warming by groups such as the Pennsylvania-based Rodale Institute, a pioneer of organic agriculture research and consumer education.
The regenerative organic model for cannabis grown under the sun, in the soil, without chemical fertilizers or toxic pesticides can drastically reduce the carbon footprint of cannabis and, indeed, build networks of food and flower production that are themselves more resilient to the impacts of climate change.'
https://mjbizdaily.com/cannabis-industry-needs-regenerative-organic-farming-not-modified-seeds/
The regenerative organic model for cannabis grown under the sun, in the soil, without chemical fertilizers or toxic pesticides can drastically reduce the carbon footprint of cannabis and, indeed, build networks of food and flower production that are themselves more resilient to the impacts of climate change.'
https://mjbizdaily.com/cannabis-industry-needs-regenerative-organic-farming-not-modified-seeds/
'While insurance companies already provide a broad suite of services to help cannabis companies sustain their growth plans, federal legalization of recreational marijuana would be a huge step forward, both for MJ businesses and the companies that insure them, Pyfrom said.'
https://mjbizdaily.com/prospects-brighten-for-cannabis-producers-seeking-insurance-coverage/
https://mjbizdaily.com/prospects-brighten-for-cannabis-producers-seeking-insurance-coverage/
'U.S. cannabis sales in the regulated marketplace have traditionally been intrastate only: i.e., California cultivators could sell only to California dispensaries, Colorado cultivators to Colorado dispensaries and so on.
This was to minimize the potential for scrutiny from the federal government and criminal penalties stemming from discrepancies between state and federal laws.
The prohibition on interstate sales is rooted in the Commerce Clause contained in Article 1 of the U.S. Constitution.
By virtue of the Commerce Clause, the federal government, specifically Congress, is vested with the authority “to regulate Commerce with foreign Nations, and among the several States, and with Indian Tribes.”'
https://mjbizdaily.com/the-pros-and-cons-of-marijuana-interstate-commerce
This was to minimize the potential for scrutiny from the federal government and criminal penalties stemming from discrepancies between state and federal laws.
The prohibition on interstate sales is rooted in the Commerce Clause contained in Article 1 of the U.S. Constitution.
By virtue of the Commerce Clause, the federal government, specifically Congress, is vested with the authority “to regulate Commerce with foreign Nations, and among the several States, and with Indian Tribes.”'
https://mjbizdaily.com/the-pros-and-cons-of-marijuana-interstate-commerce
'As a cannabis entrepreneur, LinkedIn is one of the best places for you to network. The social media platform has very active cannabis groups where cannabis expos, events, and discussions are shared.
These cannabis groups have every important information a cannabis professional might need. From information about other dispensary owners to marketing tips, everything is available. There is even a group for cannabis accountants and lawyers; just how awesome is that?
Here is a carefully researched list of the best 10 LinkedIn cannabis groups a cannabis entrepreneur should belong to. If anything, for networking purposes.'
https://thefreshtoast.com/cannabusiness/10-best-linkedin-cannabis-groups-for-networking-in-the-weed-industry/
These cannabis groups have every important information a cannabis professional might need. From information about other dispensary owners to marketing tips, everything is available. There is even a group for cannabis accountants and lawyers; just how awesome is that?
Here is a carefully researched list of the best 10 LinkedIn cannabis groups a cannabis entrepreneur should belong to. If anything, for networking purposes.'
https://thefreshtoast.com/cannabusiness/10-best-linkedin-cannabis-groups-for-networking-in-the-weed-industry/
'We, Bombay Hemp Company, incorporated in 2013, are an Argo-based enterprise reimagining the future of Indian agriculture and sustainable living with hemp as our lens. Hemp’s uses are kaleidoscopic. Pull its Fibre out and it’ll give you Yarn; chop it into Softwood, it’ll give you material to build Shelter; harvest its seeds and it will transform into all the health and nutrition a human body needs; study its Genetics, and you’ll find Medicine. Our design fuses this very potential with the existing industries of agriculture, technology, health and nutrition, to bring together community, impact, and value.'
https://bohecolife.com/pages/about-us
https://bohecolife.com/pages/about-us
'“Social and environmental concerns often get pushed to the backburner, especially in a nascent and rapidly growing industry where many companies are still struggling to get a foothold,” said Marc Ross, counsel and head of impact and ESG (environmental, social, and governance) at VS.
“Because the cannabis industry is still in development and under the microscope of a wide range of stakeholders, businesses are under a lot of pressure to do better. By prioritizing ESG issues from the outset, the cannabis industry can get out in front on them.“It is only a matter of time before all U.S. companies will need to begin disclosing their ESG impacts,” he said. “While other sectors get up to speed, the cannabis industry will already be positioned to lead the way.”'
https://www.globenewswire.com/news-release/2021/06/29/2254591/0/en/Leading-Cannabis-Law-Firm-Vicente-Sederberg-Launches-ESG-Practice-Aims-to-Help-Marijuana-and-Hemp-Industries-Lead-on-Sustainability-Social-Responsibility-and-Diversity.html
“Because the cannabis industry is still in development and under the microscope of a wide range of stakeholders, businesses are under a lot of pressure to do better. By prioritizing ESG issues from the outset, the cannabis industry can get out in front on them.“It is only a matter of time before all U.S. companies will need to begin disclosing their ESG impacts,” he said. “While other sectors get up to speed, the cannabis industry will already be positioned to lead the way.”'
https://www.globenewswire.com/news-release/2021/06/29/2254591/0/en/Leading-Cannabis-Law-Firm-Vicente-Sederberg-Launches-ESG-Practice-Aims-to-Help-Marijuana-and-Hemp-Industries-Lead-on-Sustainability-Social-Responsibility-and-Diversity.html
'Job growth in the cannabis industry will be fueled by sustained sales growth and the launch of new state markets, especially on the recreational side of the business.
According to analysis from the 2021 MJBizFactbook, the marijuana industry will employ 340,000-415,000 full-time equivalent workers across the United States in 2021 and grow to 545,000-600,000 by 2025.
These figures account for workers directly employed by cannabis businesses, including budtenders and extraction technicians, as well as employees of ancillary companies that support the marijuana industry such as consultants and lawyers.
The retail sector constitutes most of the jobs in the cannabis industry, driven by requirements in nearly all states to sell marijuana – both adult use and medical – in distinct physical locations.'
https://mjbizdaily.com/cannabis-job-growth-fueled-by-sales-and-new-markets/
According to analysis from the 2021 MJBizFactbook, the marijuana industry will employ 340,000-415,000 full-time equivalent workers across the United States in 2021 and grow to 545,000-600,000 by 2025.
These figures account for workers directly employed by cannabis businesses, including budtenders and extraction technicians, as well as employees of ancillary companies that support the marijuana industry such as consultants and lawyers.
The retail sector constitutes most of the jobs in the cannabis industry, driven by requirements in nearly all states to sell marijuana – both adult use and medical – in distinct physical locations.'
https://mjbizdaily.com/cannabis-job-growth-fueled-by-sales-and-new-markets/
'Last year was a big deal for cannabis.
Despite the COVID-19 pandemic, cannabis producers and retailers have experienced a huge boom in sales of over $ 20 billion in the United States alone.
The main reason for this is that despite widespread economic closure, cannabis was considered “essential” in most states where it is legal.
This meant that the pharmacy remained open, with most developed curbside pickups or even delivery options for buyers.
As a result, the cannabis business was booming, while other industries slowed until they crawled or stopped. It’s mid-year, but you can see if the strength of 2020 was a momentary change or a carry trend.'
https://californianewstimes.com/cannabis-industry-5-year-forecast-money-markets/413135/
Despite the COVID-19 pandemic, cannabis producers and retailers have experienced a huge boom in sales of over $ 20 billion in the United States alone.
The main reason for this is that despite widespread economic closure, cannabis was considered “essential” in most states where it is legal.
This meant that the pharmacy remained open, with most developed curbside pickups or even delivery options for buyers.
As a result, the cannabis business was booming, while other industries slowed until they crawled or stopped. It’s mid-year, but you can see if the strength of 2020 was a momentary change or a carry trend.'
https://californianewstimes.com/cannabis-industry-5-year-forecast-money-markets/413135/
'While a growing number of states are legalizing medical and adult-use cannabis, it is ultimately the municipality that determines whether cannabis operators can set up shop in their county, city, town, or village.
There’s also variance among municipalities that opt-in to legal cannabis sales. Some permit all types of cannabis operations, while others are more restrictive – only allowing business-to-business (B2B) operators such as cultivators or distributors to do business.
Local government will play a role in determining if and how your business operates, so get to know your city managers, town council members and the zoning authority. Ultimately, they must feel confident that your business will be an asset to the community. '
https://www.leafly.com/news/industry/how-to-choose-the-right-place-for-your-cannabis-business
There’s also variance among municipalities that opt-in to legal cannabis sales. Some permit all types of cannabis operations, while others are more restrictive – only allowing business-to-business (B2B) operators such as cultivators or distributors to do business.
Local government will play a role in determining if and how your business operates, so get to know your city managers, town council members and the zoning authority. Ultimately, they must feel confident that your business will be an asset to the community. '
https://www.leafly.com/news/industry/how-to-choose-the-right-place-for-your-cannabis-business
'Utilizing the Consumer Expenditure Interview Survey from 2005 to 2019, I study spending on food and alcohol following recreational marijuana law (RML). Exploiting differences in the timing of the passage of RMLs and employing two-way fixed-effects methods, I find that households located in states adopting these laws increase their quarterly spending on food, which is driven mainly by spending on food consumed away from home. Legalization of recreational marijuana also leads to increased quarterly spending on alcohol. These findings suggest a complementarity between food, alcohol, and marijuana.'
https://onlinelibrary.wiley.com/doi/10.1002/hec.4266
https://onlinelibrary.wiley.com/doi/10.1002/hec.4266
'The importance of IP for cannabis companies is similar to that in pharmaceutical, tobacco, cosmetic and food and beverage firms, which “have been in this boat for a long time.”
Without identifying specific companies, Pelletier pointed out, “We have already seen patents play a significant role in high-profile mergers and acquisitions in the cannabis industry. We expect that trend to continue, and likely intensify.”'
https://mjbizdaily.com/intellectual-property-takes-on-growing-role-in-cannabis-industry-deals/
Without identifying specific companies, Pelletier pointed out, “We have already seen patents play a significant role in high-profile mergers and acquisitions in the cannabis industry. We expect that trend to continue, and likely intensify.”'
https://mjbizdaily.com/intellectual-property-takes-on-growing-role-in-cannabis-industry-deals/
' - In 2019 the U.S. legal cannabis industry generated an estimated $13.2 billion in sales across all medical and adult-use state markets.
- In 2020, despite socioeconomic disruptions amid the COVID-19 pandemic, total legal cannabis sales are projected beyond $19 billion.
- Projecting a compound average growth rate (CAGR) of 18% over the next five years, by 2025 total annual U.S. legal sales should exceed $35 billion.
- Between 2020-2025, the total combined U.S. market opportunity for legal cannabis sales is estimated at $172 billion.
- Projecting that 18% CAGR, annual medical cannabis sales are estimated to nearly triple from $5.8 billion in 2019 to $16 billion in 2025.
- Meantime, annual legal adult-use sales are projected to grow at a 17% CAGR, from $7.4 billion in 2019 to $19 billion in 2025.
- Conversely, illicit market sales will slow due to legal markets: New Frontier Data estimates that 17% of all 2019 U.S. cannabis sales were legal; in 2025 more than one-third (34%) of total annual demand will be met through legal markets.
- Legal cannabis industry expansion is fueled both by new markets as more states adopt legalization, and from sustained demand growth as consumers transition from illicit to legal markets.'
https://newfrontierdata.com/cannabis-insights/growth-of-the-u-s-legal-cannabis-industry/
- In 2020, despite socioeconomic disruptions amid the COVID-19 pandemic, total legal cannabis sales are projected beyond $19 billion.
- Projecting a compound average growth rate (CAGR) of 18% over the next five years, by 2025 total annual U.S. legal sales should exceed $35 billion.
- Between 2020-2025, the total combined U.S. market opportunity for legal cannabis sales is estimated at $172 billion.
- Projecting that 18% CAGR, annual medical cannabis sales are estimated to nearly triple from $5.8 billion in 2019 to $16 billion in 2025.
- Meantime, annual legal adult-use sales are projected to grow at a 17% CAGR, from $7.4 billion in 2019 to $19 billion in 2025.
- Conversely, illicit market sales will slow due to legal markets: New Frontier Data estimates that 17% of all 2019 U.S. cannabis sales were legal; in 2025 more than one-third (34%) of total annual demand will be met through legal markets.
- Legal cannabis industry expansion is fueled both by new markets as more states adopt legalization, and from sustained demand growth as consumers transition from illicit to legal markets.'
https://newfrontierdata.com/cannabis-insights/growth-of-the-u-s-legal-cannabis-industry/
- 'Passage of the 2018 Farm Bill sparked both sharp nationwide increases in licensing and explosive sales growth for 2019.
- The issuance of U.S. hemp-cultivation licenses saw a year-over-year, nationwide increase of 364% (from 3,546 in 2018 to 16,462 in 2019).
- Small family farms’ entry to the space drove licensing booms in some states, while other states saw the arrival of Big Agriculture interests in their markets.
- In 2019, Tennessee led the trend with 3,200 new licenses, marking more than a 13x increase over its 226 in 2018. Conversely, Montana’s comparatively low 277 licenses in 2019 represent nearly 40,000 acres, averaging a Big Ag-style footprint of more than 144 acres apiece.
- Traditional hemp states Colorado, Kentucky, and Oregon continue to lead in cultivation as the nation overall shows a projected 225,000 acres harvested in 2019, more than a 180% increase beyond 78,176 in 2018.'
'Using CBD products as an onramp to a marijuana business also makes sense from a cash-flow perspective. When a state legalizes cannabis and announces a future date for its sale, companies need to hire employees, rent space, find distribution etc. There can be delays in licensing and other issues. Selling hemp-based CBD products while the company waits for the THC business to kick in, provides an income stream to draw from.'
https://www.forbes.com/sites/julieweed/2019/08/24/cbd-companies-positioning-themselves-for-cannabis-legalization/
So governments, the pharmaceutical industry and the medical industry cut off the supply of natural intoxicants like cannabis, opium, coca and palm toddy. They create refined and much more potent extracts from these natural materials. They control the supply and stock of these chemical drugs. They use the doctor-pharmacist route to administer these drugs to the public legally and the peddler-narcotics agent-rehabilitation center route to administer these drugs illegally. The individual is not allowed to grow or procure these intoxicants from nature. He must rely on the system to get his intoxicant and pay the maximum price for it. To realize more and more profits the system creates more and more potent chemical intoxicants moving further and further away from natural territory into synthetic chemically constructed territory. As the toxicity and addictive power of these drugs increase, the public gets addicted to an even greater extent and pays even more for any available intoxicant. Profits rise and fuel the growth of the system tremendously. The individual pays for the system, pays for the synthetic drug, pays for the treatment which is further synthetic drugs and eventually pays with his life for the synthetic intoxicant. Legalize all natural drugs - opium, coca, cannabis and toddy to name a few. Most importantly, legalize cannabis, the universal drug of the world...
'There is only one kind of help possible - the abolition of that terrible cone of violence which enables the person or persons who succeed in seizing the apex to have power over all the rest, and to hold that power the more firmly the more cruel and inhuman they are, as we see, by the cases of the Napoleons, Nicholas I, Bismarck, Chamberlain, Rhodes, and our Russian Dictators who rule the people in the Tsar's name.
There is only one way to destroy the binding together of this cone - it is by shaking off the hypnotism of patriotism.
Understand that you yourselves cause all the evils from which you suffer, by yielding to the suggestions by which emperors, kings, members of Parliament, governors, officers, capitalists, priests, authors, artists, and all who need this fraud of patriotism in order to live upon your labour, deceive you!
Whoever you may be - Frenchman, Russian, Pole, Englishman, Irishman, or Bohemian - understand that all your real human interests, whatever they may be - agricultural, industrial, commercial, artistic, or scientific - as well as your pleasures and joys, in no way run counter to the interests of other peoples or States, and that you are united with the folk of other lands by mutual co-operation, by interchange of services, by the joy of wide brotherly intercourse, and by the interchange not merely of goods but also of thoughts and feelings.'
- Leo Tolstoy - The Kingdom of God and Peace Essays
'More than a dozen new dispensaries could open in Nevada’s booming retail marijuana market in the coming weeks after a judge gave the go-ahead Thursday to companies that underwent background checks and won licenses.
State marijuana regulators said as many as 36 stores could open.'
https://mjbizdaily.com/nevada-judge-gives-ok-for-more-retail-cannabis-stores-to-open/
'The overall displacement or cannibalization of tobacco by cannabis products in California alone amounted to $84.5 million overall from 2017-2018 (not including 2017 e-cigarettes, figures for which were not available). The shifts amounted to $33.8 million for cigarettes, $8.3 million for non-cigarette tobacco, and $42.6 million for e-cigarettes (in 2018 only).
Across the U.S. overall, the 2018 spending shifts amounted to $4.3 billion for alcohol: (1.54% of that market), $1.3 billion for pharmaceuticals (1.10%), and $219 million (0.22%) for tobacco.'
https://newfrontierdata.com/marijuana-insights/altria-pmi-merger-confirms-longtime-predictions-marks-industry-progression/
'As such, hemp and hemp-derived CBD preparations that have 0.3% THC or less are not controlled substances, the DEA confirmed. “DEA registration is not required to grow or research” them.
The confirmation will be good news to the CBD industry, which has exploded recently. But any manufacturers making health claims about the CBD-containing products will still receive scrutiny from the Food and Drug Administration. Additionally, individual state laws and restrictions may apply.'
https://arstechnica.com/science/2019/08/dea-may-finally-let-others-grow-cannabis-for-research/
'Using CBD products as an onramp to a marijuana business also makes sense from a cash-flow perspective. When a state legalizes cannabis and announces a future date for its sale, companies need to hire employees, rent space, find distribution etc. There can be delays in licensing and other issues. Selling hemp-based CBD products while the company waits for the THC business to kick in, provides an income stream to draw from.'
https://www.forbes.com/sites/julieweed/2019/08/24/cbd-companies-positioning-themselves-for-cannabis-legalization/
'In fact, according to advocates of small cannabis businesses, if the sector evolves under the right conditions, craft will be the future of the marijuana sector.
Conversely, they say, under the wrong conditions, craft will perish and leave the space to a handful of cannabis conglomerates.'
https://mjbizdaily.com/craft-cannabis-is-the-marijuana-industrys-small-batch-sector/
'One day Herman told me about a kilo of first-class New Orleans weed I could pick up for seventy dollars. Pushing weed looked good on paper, like fur farming or raising frogs. At seventy-five cents a stick, seventy sticks to the ounce, it sounded like money. I was convinced, and bought the weed.' - Junky, William S Burroughs, 1977, originally published in 1953
'There is little industry-wide consensus on cultivation best practice. Some outdoor growers might divert streams to water crops, whereas others pursue dry farming, which uses no irrigation. Indoors, growers sometimes choose cooler, light-emitting diode (LED) lights to substantially decrease water use. Meanwhile, others simply expand small, energy-intense facilities into larger operations. “There is a wide range of energy efficiency,” Smith says. “Outdoor crops planted from seeds might have a zero footprint, while old-style indoor cultivation can be 500 times more energy intensive.”'
https://www.nature.com/articles/d41586-019-02526-3
'For years, the popular image of cannabis growers has been scruffy hippies getting high on their own supply in a disorganized underground economy, rather than shiny white industrial agriculture facilities. Even larger-scale operations involved minimal quality control or lacked formal record keeping.
But as legal medical — and increasingly, recreational — cannabis becomes more widespread, the cannabis industry is becoming more professional. By adopting the methods and rigour of plant science and analytical chemistry, it is ensuring that it can produce safe, consistent and high-quality products for a fast-growing and lucrative market.'
https://www.nature.com/articles/d41586-019-02527-2
'“These data reveal a predominant use of prefilled THC cartridges sold through informal and unregulated markets, although the origin of these products further back in the production and distribution chain is unknown,” the report states.
The report goes on to say that it’s unclear if the cause of the illness is THC or “a substance associated with prefilled THC cartridges, such as a cutting agent or adulterant.”'
https://mjbizdaily.com/cdc-reports-majority-of-patients-sickened-in-vape-epidemic-used-marijuana-vaporizer-devices-many-from-illicit-market
'The U.S. House of Representatives’ vote approving legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of reprisal is a milestone for the cannabis industry.'
https://mjbizdaily.com/after-the-safe-vote-in-us-house-heres-what-you-need-to-know-about-the-current-state-of-banking-in-the-marijuana-industry/
'A study on the impact of cannabis legalization on alcohol sales in Colorado, Oregon and Washington, the three states with the longest history of legal nonmedical use of cannabis, showed that there was no evidence that legalization had had any impact on the sale of spirits or on total alcohol sales, which are generally considered a good proxy for alcohol consumption in the United States. The study showed that the per capita sale of spirits had increased by 3.6 per cent in Oregon, 5.4 per cent in Washington and 7.6 per cent in Colorado in 2018, after the measures allowing the non-medical use of cannabis were implemented in those states. Consistent with national trends, per capita sales of beer had declined by 3.6 per cent in Colorado, 2.3 per cent in Washington and 3.6 per cent in Oregon. The sale of wine increased by 0.7 per cent in Oregon, declined by 3.1 per cent in Washington and increased by 3.2 per cent in Colorado. Overall, per capita sales of alcoholic beverages were fairly stable, as they increased by 1.7 per cent in Colorado, declined by 0.2 per cent in Washington and declined by 0.5 per cent in Oregon' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'In the United States, a total of 33 states, as well as the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands, had approved or had in place a comprehensive programme for medical cannabis by the end of 2019. As at December 2019, 11 state-level jurisdictions in the United States, plus the District of Columbia, allowed the nonmedical use of cannabis, and most also allowed commercial production by for-profit industry. It is worth noting that all the states that have legalized the non-medical use of cannabis previously had measures in place permitting the medical use of cannabis.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'There is little industry-wide consensus on cultivation best practice. Some outdoor growers might divert streams to water crops, whereas others pursue dry farming, which uses no irrigation. Indoors, growers sometimes choose cooler, light-emitting diode (LED) lights to substantially decrease water use. Meanwhile, others simply expand small, energy-intense facilities into larger operations. “There is a wide range of energy efficiency,” Smith says. “Outdoor crops planted from seeds might have a zero footprint, while old-style indoor cultivation can be 500 times more energy intensive.”'
https://www.nature.com/articles/d41586-019-02526-3
'For years, the popular image of cannabis growers has been scruffy hippies getting high on their own supply in a disorganized underground economy, rather than shiny white industrial agriculture facilities. Even larger-scale operations involved minimal quality control or lacked formal record keeping.
But as legal medical — and increasingly, recreational — cannabis becomes more widespread, the cannabis industry is becoming more professional. By adopting the methods and rigour of plant science and analytical chemistry, it is ensuring that it can produce safe, consistent and high-quality products for a fast-growing and lucrative market.'
https://www.nature.com/articles/d41586-019-02527-2
'“These data reveal a predominant use of prefilled THC cartridges sold through informal and unregulated markets, although the origin of these products further back in the production and distribution chain is unknown,” the report states.
The report goes on to say that it’s unclear if the cause of the illness is THC or “a substance associated with prefilled THC cartridges, such as a cutting agent or adulterant.”'
https://mjbizdaily.com/cdc-reports-majority-of-patients-sickened-in-vape-epidemic-used-marijuana-vaporizer-devices-many-from-illicit-market
'The U.S. House of Representatives’ vote approving legislation that would pave the way for financial institutions and insurance companies to serve state-legal marijuana businesses without fear of reprisal is a milestone for the cannabis industry.'
https://mjbizdaily.com/after-the-safe-vote-in-us-house-heres-what-you-need-to-know-about-the-current-state-of-banking-in-the-marijuana-industry/
'A study on the impact of cannabis legalization on alcohol sales in Colorado, Oregon and Washington, the three states with the longest history of legal nonmedical use of cannabis, showed that there was no evidence that legalization had had any impact on the sale of spirits or on total alcohol sales, which are generally considered a good proxy for alcohol consumption in the United States. The study showed that the per capita sale of spirits had increased by 3.6 per cent in Oregon, 5.4 per cent in Washington and 7.6 per cent in Colorado in 2018, after the measures allowing the non-medical use of cannabis were implemented in those states. Consistent with national trends, per capita sales of beer had declined by 3.6 per cent in Colorado, 2.3 per cent in Washington and 3.6 per cent in Oregon. The sale of wine increased by 0.7 per cent in Oregon, declined by 3.1 per cent in Washington and increased by 3.2 per cent in Colorado. Overall, per capita sales of alcoholic beverages were fairly stable, as they increased by 1.7 per cent in Colorado, declined by 0.2 per cent in Washington and declined by 0.5 per cent in Oregon' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'In the United States, a total of 33 states, as well as the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands, had approved or had in place a comprehensive programme for medical cannabis by the end of 2019. As at December 2019, 11 state-level jurisdictions in the United States, plus the District of Columbia, allowed the nonmedical use of cannabis, and most also allowed commercial production by for-profit industry. It is worth noting that all the states that have legalized the non-medical use of cannabis previously had measures in place permitting the medical use of cannabis.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'In practice, pushing weed is a headache. To begin with, weed is bulky. You need a full suitcase to realize any money. If the cops start kicking your door in, then you are like with a bale of alfalfa.' - Junky, William S Burroughs, 1977, originally published in 1953
'Although the Cannabis Act introduced a variety of classes of cannabis licences, including for smaller producers, the federal Government requires that a potential supplier have a production facility in place, meaning that the supplier will have already made a substantial investment prior to applying for a licence. Some have speculated that this has contributed to deterring small entrepreneurs from applying for licences and may have favoured the emergence of a market dominated or even monopolized by a relatively small number of large, multi-billion-dollar businesses. There have also been reports of the alcohol, tobacco and finance industries investing in companies involved in nonmedical cannabis production. For instance, according to media sources, in October 2017 Constellation Brands, a major international producer of wine, beer and spirits, invested $4 billion to acquire a 9.9 per cent stake in Canopy Growth, the leading Canadian producer, to develop cannabis-based beverages. By the end of December 2019, Constellation owned a 35 per cent stake in Canopy. In December 2018, the tobacco company Altria made a $1.8 million investment in Cronos Group, a cannabis production company, giving Altria a 45 per cent interest in Cronos. Earlier in the year, Molson Coors Brewing, another multinational alcohol company, signed a joint venture with Quebec-based HEXO to develop and market cannabis-infused beverages. Market analysts have predicted that the alcohol industry will also invest in companies that plan to produce beverages that combine cannabis and beer and, in particular, they predicted that by the end of 2019 two of the largest cannabis companies in the world would be owned by two of the largest alcohol and tobacco companies' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'The sale of non-medical cannabis through legal sources represents only a portion of the cannabis market, as it appears that a substantial proportion of users still rely on illegal sources to obtain cannabis (42 per cent in 2019). Moreover, cannabis prices on the illegal market have remained considerably lower (and have been declining) compared with the prices on the legal market. In the second quarter of 2019, based on 236 submissions, the average price per gram of cannabis on the legal market was Can$10.65, compared with Can$5.93 per gram on the illegal market.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'After the cannabis regulations were adopted and sales began in October 2018, retail sales of nonmedical cannabis online and in cannabis stores up to September 2019 totalled some 908 million Canadian dollars, or an average of Can$24 (approximately $18) per capita. Although Ontario had the smallest number of retail outlets, it had the highest retail sales (Can$216 million), followed by Alberta (Can$196 million) and Quebec (Can$195 million), by the end of September 2019. Out of the total of Can$908 million, most sales were made through bricks-and-mortar stores (Can $788 million), while online retail sales (Can$120 million) accounted for 13 per cent. Direct-to-consumer trade by wholesalers, which includes retail sales by public sector stores classified as wholesalers, accounted for 1.9 per cent over the same period.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'At the baseline, in the first quarter of 2018, nearly 14 per cent of Canadians (12.2 per cent of women and 15.8 per cent of men) reported that they had used cannabis, including cannabis products for medical purposes, in the past three months. The highest prevalence rates were reported among those aged 25–34 (26 per cent) and 15–24 (23 per cent). By the beginning of 2019, the prevalence of use in the past three months had increased to 17.5 per cent, and it remained close to that level until the third quarter of 2019 (17.1 per cent). While the prevalence of cannabis use in the past three months rose in most age groups in 2019, the most marked increase was observed in the oldest age group (65 and older), for which the prevalence nearly doubled in comparison with 2018. There also seems to be a larger proportion of new users among older adults than in other age groups: while 10 per cent of new cannabis users were aged 25–44 in the second and third quarters of 2019, more than one quarter were aged 65 and older.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'To monitor the outcome of the new cannabis regulations, the Government of Canada has invested in a formal system that may eventually help to evaluate their impact and support the further development of policies and programmes. One of the main measures taken to that end is a cannabis survey that established a baseline in 2018 and is repeated every quarter in order to provide objective information on trends in the use of cannabis products, both medical and non-medical, as well as on how the legal cannabis market has evolved over time.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'"With hundreds of new companies rushing into the CBD space, many in the industry are looking beyond CBD towards other minor cannabinoids," New Frontier reports. "For farmers feeling the effects of CBD oversupply, minor cannabinoids can offer higher prices and less regulatory oversight."
Both the New Frontier report and several members of the hemp industry with whom we've spoken see CBN (cannabinol) and CBG (cannabigerol) as the next big thing in the hemp and cannabis industries. Despite not being as popular or studied as CBD (which is new to clinical research itself), both CBN and CBG have shown potential in wellness areas such as fighting inflammation, pain, nausea and potentially even certain cancer cells.'
https://www.westword.com/marijuana/as-cbd-prices-drop-will-cbn-and-other-cannabinoids-become-more-alluring-to-hemp-farmers-11746876
'According to Witte, as the science behind CBD formulation affords more consistency, brands will begin to focus on whatever added value that they may provide beyond CBD itself.
“The way to think about CBD is as a compound no more interesting than caffeine or electrolytes, just a commoditized functional ingredient that’s ultimately going to be added to many types of products,” Witte explained. “The value is in being able to determine the right application to utilize it and being able to build a brand on top of the ingredient.”
Drawing a comparison with both Starbucks coffee and Red Bull energy drinks (“CBD is the caffeine of the 21st century,” he asserted), Witte pointed out how those brands essentially offer products with the same active ingredient; the differences are how the companies brand themselves and what kind of promises they offer their consumers.'
https://newfrontierdata.com/cannabis-insights/webinar-details-the-industry-buzz-about-cbd-infused-food-and-beverages/
'Farm cash receipts in British Columbia hit a record high in 2019, boosted by an increase of nearly 300 million Canadian dollars ($221 million) in cannabis sales.
The annual growth in cannabis cash receipts in British Columbia far outpaced growth in other agricultural sectors such as dairy (CA$47 million), beef (CA$25 million) and field vegetables (CA$17.5 million), the provincial government reported Tuesday.'
https://mjbizdaily.com/cannabis-gives-british-columbia-farm-sales-ca300-million-boost-in-2019/
'With revenue of $10.6 billion-$13 billion in 2019, sales of legal adult-use and medical marijuana in the United States topped spending on sleep aids, hard seltzer and toothpaste combined.
Total marijuana sales now exceed the National Basketball Association’s annual U.S. revenue and, by 2024, could surpass Americans’ annual spending on craft beer.
The data – published in the 2020 edition of the Marijuana Business Factbook – underscores the fact that the U.S. cannabis industry is already a major economic force, even though it has yet to reach its full potential.'
https://mjbizdaily.com/chart-retail-cannabis-sales-surpass-nba-revenue-approach-prescription-pain-meds/
'Cannabis regulators in Canada’s Northwest Territories (NWT) reduced prices of legal marijuana products by 10% in an effort to eliminate illicit marijuana sales.
The price cuts, which took effect July 2, apply to all cannabis products sold by the Northwest Territories Liquor and Cannabis Commission (NTLCC), the NWT government said.
“With close to two years of legal sales, NTLCC has a better understanding of the operating costs associated with the distribution and sale of cannabis and is confident that it can reduce the price of these products while continuing to maintain a safe and secure retail regime,” the agency noted.'
https://mjbizdaily.com/canadas-northwest-territories-cuts-cannabis-prices-to-fight-illegal-market/
'In Colorado, marijuana shops sold more than $192 million in May, according to Denver alt-weekly Westword. That’s up from $148 million the month prior.
In Illinois, the state’s cannabis stores sold $47.6 million worth of marijuana in June, another record for the nascent recreational cannabis market, according to the Daily Herald of Arlington Heights. That was up from a high of $44 million in May.
In Oregon, marijuana sales totals hit $103 million in May, topping the $100 million mark for the first time, the Portland Business Journal reported.
Then the state set a record in June, reaching just over $100 million'
https://mjbizdaily.com/multiple-states-continue-to-post-record-breaking-cannabis-sales-numbers/
'Although the Cannabis Act introduced a variety of classes of cannabis licences, including for smaller producers, the federal Government requires that a potential supplier have a production facility in place, meaning that the supplier will have already made a substantial investment prior to applying for a licence. Some have speculated that this has contributed to deterring small entrepreneurs from applying for licences and may have favoured the emergence of a market dominated or even monopolized by a relatively small number of large, multi-billion-dollar businesses. There have also been reports of the alcohol, tobacco and finance industries investing in companies involved in nonmedical cannabis production. For instance, according to media sources, in October 2017 Constellation Brands, a major international producer of wine, beer and spirits, invested $4 billion to acquire a 9.9 per cent stake in Canopy Growth, the leading Canadian producer, to develop cannabis-based beverages. By the end of December 2019, Constellation owned a 35 per cent stake in Canopy. In December 2018, the tobacco company Altria made a $1.8 million investment in Cronos Group, a cannabis production company, giving Altria a 45 per cent interest in Cronos. Earlier in the year, Molson Coors Brewing, another multinational alcohol company, signed a joint venture with Quebec-based HEXO to develop and market cannabis-infused beverages. Market analysts have predicted that the alcohol industry will also invest in companies that plan to produce beverages that combine cannabis and beer and, in particular, they predicted that by the end of 2019 two of the largest cannabis companies in the world would be owned by two of the largest alcohol and tobacco companies' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'The sale of non-medical cannabis through legal sources represents only a portion of the cannabis market, as it appears that a substantial proportion of users still rely on illegal sources to obtain cannabis (42 per cent in 2019). Moreover, cannabis prices on the illegal market have remained considerably lower (and have been declining) compared with the prices on the legal market. In the second quarter of 2019, based on 236 submissions, the average price per gram of cannabis on the legal market was Can$10.65, compared with Can$5.93 per gram on the illegal market.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'After the cannabis regulations were adopted and sales began in October 2018, retail sales of nonmedical cannabis online and in cannabis stores up to September 2019 totalled some 908 million Canadian dollars, or an average of Can$24 (approximately $18) per capita. Although Ontario had the smallest number of retail outlets, it had the highest retail sales (Can$216 million), followed by Alberta (Can$196 million) and Quebec (Can$195 million), by the end of September 2019. Out of the total of Can$908 million, most sales were made through bricks-and-mortar stores (Can $788 million), while online retail sales (Can$120 million) accounted for 13 per cent. Direct-to-consumer trade by wholesalers, which includes retail sales by public sector stores classified as wholesalers, accounted for 1.9 per cent over the same period.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'At the baseline, in the first quarter of 2018, nearly 14 per cent of Canadians (12.2 per cent of women and 15.8 per cent of men) reported that they had used cannabis, including cannabis products for medical purposes, in the past three months. The highest prevalence rates were reported among those aged 25–34 (26 per cent) and 15–24 (23 per cent). By the beginning of 2019, the prevalence of use in the past three months had increased to 17.5 per cent, and it remained close to that level until the third quarter of 2019 (17.1 per cent). While the prevalence of cannabis use in the past three months rose in most age groups in 2019, the most marked increase was observed in the oldest age group (65 and older), for which the prevalence nearly doubled in comparison with 2018. There also seems to be a larger proportion of new users among older adults than in other age groups: while 10 per cent of new cannabis users were aged 25–44 in the second and third quarters of 2019, more than one quarter were aged 65 and older.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'To monitor the outcome of the new cannabis regulations, the Government of Canada has invested in a formal system that may eventually help to evaluate their impact and support the further development of policies and programmes. One of the main measures taken to that end is a cannabis survey that established a baseline in 2018 and is repeated every quarter in order to provide objective information on trends in the use of cannabis products, both medical and non-medical, as well as on how the legal cannabis market has evolved over time.' - United Nations Office on Drugs and Crime, World Drug Report 2020, https://wdr.unodc.org/wdr2020/field/WDR20_BOOKLET_4.pdf
'"With hundreds of new companies rushing into the CBD space, many in the industry are looking beyond CBD towards other minor cannabinoids," New Frontier reports. "For farmers feeling the effects of CBD oversupply, minor cannabinoids can offer higher prices and less regulatory oversight."
Both the New Frontier report and several members of the hemp industry with whom we've spoken see CBN (cannabinol) and CBG (cannabigerol) as the next big thing in the hemp and cannabis industries. Despite not being as popular or studied as CBD (which is new to clinical research itself), both CBN and CBG have shown potential in wellness areas such as fighting inflammation, pain, nausea and potentially even certain cancer cells.'
https://www.westword.com/marijuana/as-cbd-prices-drop-will-cbn-and-other-cannabinoids-become-more-alluring-to-hemp-farmers-11746876
'According to Witte, as the science behind CBD formulation affords more consistency, brands will begin to focus on whatever added value that they may provide beyond CBD itself.
“The way to think about CBD is as a compound no more interesting than caffeine or electrolytes, just a commoditized functional ingredient that’s ultimately going to be added to many types of products,” Witte explained. “The value is in being able to determine the right application to utilize it and being able to build a brand on top of the ingredient.”
Drawing a comparison with both Starbucks coffee and Red Bull energy drinks (“CBD is the caffeine of the 21st century,” he asserted), Witte pointed out how those brands essentially offer products with the same active ingredient; the differences are how the companies brand themselves and what kind of promises they offer their consumers.'
https://newfrontierdata.com/cannabis-insights/webinar-details-the-industry-buzz-about-cbd-infused-food-and-beverages/
'Farm cash receipts in British Columbia hit a record high in 2019, boosted by an increase of nearly 300 million Canadian dollars ($221 million) in cannabis sales.
The annual growth in cannabis cash receipts in British Columbia far outpaced growth in other agricultural sectors such as dairy (CA$47 million), beef (CA$25 million) and field vegetables (CA$17.5 million), the provincial government reported Tuesday.'
https://mjbizdaily.com/cannabis-gives-british-columbia-farm-sales-ca300-million-boost-in-2019/
'With revenue of $10.6 billion-$13 billion in 2019, sales of legal adult-use and medical marijuana in the United States topped spending on sleep aids, hard seltzer and toothpaste combined.
Total marijuana sales now exceed the National Basketball Association’s annual U.S. revenue and, by 2024, could surpass Americans’ annual spending on craft beer.
The data – published in the 2020 edition of the Marijuana Business Factbook – underscores the fact that the U.S. cannabis industry is already a major economic force, even though it has yet to reach its full potential.'
https://mjbizdaily.com/chart-retail-cannabis-sales-surpass-nba-revenue-approach-prescription-pain-meds/
'Cannabis regulators in Canada’s Northwest Territories (NWT) reduced prices of legal marijuana products by 10% in an effort to eliminate illicit marijuana sales.
The price cuts, which took effect July 2, apply to all cannabis products sold by the Northwest Territories Liquor and Cannabis Commission (NTLCC), the NWT government said.
“With close to two years of legal sales, NTLCC has a better understanding of the operating costs associated with the distribution and sale of cannabis and is confident that it can reduce the price of these products while continuing to maintain a safe and secure retail regime,” the agency noted.'
https://mjbizdaily.com/canadas-northwest-territories-cuts-cannabis-prices-to-fight-illegal-market/
'In Colorado, marijuana shops sold more than $192 million in May, according to Denver alt-weekly Westword. That’s up from $148 million the month prior.
In Illinois, the state’s cannabis stores sold $47.6 million worth of marijuana in June, another record for the nascent recreational cannabis market, according to the Daily Herald of Arlington Heights. That was up from a high of $44 million in May.
In Oregon, marijuana sales totals hit $103 million in May, topping the $100 million mark for the first time, the Portland Business Journal reported.
Then the state set a record in June, reaching just over $100 million'
https://mjbizdaily.com/multiple-states-continue-to-post-record-breaking-cannabis-sales-numbers/
'Tea heads are not like junkies. A junkie hands you the money, takes his junk and cuts. But tea heads don't do things that way. They expect the peddlar to light them up and sit around talking for half an hour to sell two dollars worth of weed. If you come right to the point, they say you are a "bring down." In fact, a peddlar should not come right out and say he is a peddlar. No, he just scores for a few good "cats and "chicks" because he is viperish. Everyone knows that he himself is the connection, but it is bad form to say so. God knows why. To me, tea heads are unfathomable.' - Junky, William S Burroughs, 1977, originally published in 1953
'Using CBD products as an onramp to a marijuana business also makes sense from a cash-flow perspective. When a state legalizes cannabis and announces a future date for its sale, companies need to hire employees, rent space, find distribution etc. There can be delays in licensing and other issues. Selling hemp-based CBD products while the company waits for the THC business to kick in, provides an income stream to draw from.'
https://www.forbes.com/sites/julieweed/2019/08/24/cbd-companies-positioning-themselves-for-cannabis-legalization/
'The overall displacement or cannibalization of tobacco by cannabis products in California alone amounted to $84.5 million overall from 2017-2018 (not including 2017 e-cigarettes, figures for which were not available). The shifts amounted to $33.8 million for cigarettes, $8.3 million for non-cigarette tobacco, and $42.6 million for e-cigarettes (in 2018 only).
Across the U.S. overall, the 2018 spending shifts amounted to $4.3 billion for alcohol: (1.54% of that market), $1.3 billion for pharmaceuticals (1.10%), and $219 million (0.22%) for tobacco.'
https://newfrontierdata.com/marijuana-insights/altria-pmi-merger-confirms-longtime-predictions-marks-industry-progression/
'For years, the popular image of cannabis growers has been scruffy hippies getting high on their own supply in a disorganized underground economy, rather than shiny white industrial agriculture facilities. Even larger-scale operations involved minimal quality control or lacked formal record keeping.
But as legal medical — and increasingly, recreational — cannabis becomes more widespread, the cannabis industry is becoming more professional. By adopting the methods and rigour of plant science and analytical chemistry, it is ensuring that it can produce safe, consistent and high-quality products for a fast-growing and lucrative market.'
https://www.nature.com/articles/d41586-019-02527-2
'In fact, according to advocates of small cannabis businesses, if the sector evolves under the right conditions, craft will be the future of the marijuana sector.
Conversely, they say, under the wrong conditions, craft will perish and leave the space to a handful of cannabis conglomerates.'
https://mjbizdaily.com/craft-cannabis-is-the-marijuana-industrys-small-batch-sector/
'With 332% growth year-on-year and $52 million in sales, cannabidiol (CBD) has taken the top spot as the best-selling herbal supplement in the natural channel, according to the 2018 HerbalGram Herb Market Report by the American Botanical Council.'
https://www.nutraingredients-usa.com/Article/2019/09/23/CBD-supplement-sales-rocket-to-take-top-spot-in-the-US-natural-channel
'Fast-forward to today, and not only does the NCIA now have a roster of almost 2,000 members, other national groups also have sprung up, such as the Minority Cannabis Business Association and the Cannabis Trade Federation.
And let’s not forget the multitude of trade groups that have formed at the state level or that represent specific areas of the cannabis industry'
https://mjbizdaily.com/which-marijuana-trade-association-is-right-for-your-business/
'From the supply-side, consumer brands were quick to anticipate and respond to potential changes in consumer preferences, especially from an accessibility angle. Leading brands, including Papa and Barkley and Cresco Labs, have accelerated the launch of value product lines to accommodate cash-strapped customers. Other retailers, from California to Michigan, have started offering compassionate pricing policies for patrons who need financial assistance to purchase their medical or wellness products. As the national unemployment rate continues to climb, consumers will likely exhibit more conservative spending habits until lawmakers agree on measures to reopen the economy.'
https://www.adweek.com/brand-marketing/what-the-cannabis-industrys-overnight-transition-teaches-us-about-the-new-retail/
'Using CBD products as an onramp to a marijuana business also makes sense from a cash-flow perspective. When a state legalizes cannabis and announces a future date for its sale, companies need to hire employees, rent space, find distribution etc. There can be delays in licensing and other issues. Selling hemp-based CBD products while the company waits for the THC business to kick in, provides an income stream to draw from.'
https://www.forbes.com/sites/julieweed/2019/08/24/cbd-companies-positioning-themselves-for-cannabis-legalization/
'The overall displacement or cannibalization of tobacco by cannabis products in California alone amounted to $84.5 million overall from 2017-2018 (not including 2017 e-cigarettes, figures for which were not available). The shifts amounted to $33.8 million for cigarettes, $8.3 million for non-cigarette tobacco, and $42.6 million for e-cigarettes (in 2018 only).
Across the U.S. overall, the 2018 spending shifts amounted to $4.3 billion for alcohol: (1.54% of that market), $1.3 billion for pharmaceuticals (1.10%), and $219 million (0.22%) for tobacco.'
https://newfrontierdata.com/marijuana-insights/altria-pmi-merger-confirms-longtime-predictions-marks-industry-progression/
'For years, the popular image of cannabis growers has been scruffy hippies getting high on their own supply in a disorganized underground economy, rather than shiny white industrial agriculture facilities. Even larger-scale operations involved minimal quality control or lacked formal record keeping.
But as legal medical — and increasingly, recreational — cannabis becomes more widespread, the cannabis industry is becoming more professional. By adopting the methods and rigour of plant science and analytical chemistry, it is ensuring that it can produce safe, consistent and high-quality products for a fast-growing and lucrative market.'
https://www.nature.com/articles/d41586-019-02527-2
'In fact, according to advocates of small cannabis businesses, if the sector evolves under the right conditions, craft will be the future of the marijuana sector.
Conversely, they say, under the wrong conditions, craft will perish and leave the space to a handful of cannabis conglomerates.'
https://mjbizdaily.com/craft-cannabis-is-the-marijuana-industrys-small-batch-sector/
'With 332% growth year-on-year and $52 million in sales, cannabidiol (CBD) has taken the top spot as the best-selling herbal supplement in the natural channel, according to the 2018 HerbalGram Herb Market Report by the American Botanical Council.'
https://www.nutraingredients-usa.com/Article/2019/09/23/CBD-supplement-sales-rocket-to-take-top-spot-in-the-US-natural-channel
'Fast-forward to today, and not only does the NCIA now have a roster of almost 2,000 members, other national groups also have sprung up, such as the Minority Cannabis Business Association and the Cannabis Trade Federation.
And let’s not forget the multitude of trade groups that have formed at the state level or that represent specific areas of the cannabis industry'
https://mjbizdaily.com/which-marijuana-trade-association-is-right-for-your-business/
'From the supply-side, consumer brands were quick to anticipate and respond to potential changes in consumer preferences, especially from an accessibility angle. Leading brands, including Papa and Barkley and Cresco Labs, have accelerated the launch of value product lines to accommodate cash-strapped customers. Other retailers, from California to Michigan, have started offering compassionate pricing policies for patrons who need financial assistance to purchase their medical or wellness products. As the national unemployment rate continues to climb, consumers will likely exhibit more conservative spending habits until lawmakers agree on measures to reopen the economy.'
https://www.adweek.com/brand-marketing/what-the-cannabis-industrys-overnight-transition-teaches-us-about-the-new-retail/
How about that? The 19th century ban instituted by the UK in India still stands...
'The United Kingdom continued to be the main exporter of cannabis (19.7 tons, or 77.8 per cent of global exports), mainly in the form of cannabis extracts or pharmaceutical preparations containing cannabis extracts; it was followed by the Netherlands (3.0 tons, or 11.9 per cent), Canada (1.8 tons, or 6.9 per cent) and Austria and Germany (each with 0.4 ton, or 1.4 per cent).'
https://www.incb.org/documents/Narcotic-Drugs/Technical-Publications/2019/Narcotic_Drugs_Technical_Publication_2019_web.pdf
'In 2018, the United States imported 15.7 tons of cannabis, accounting for 54.9 per cent of global imports; it was followed by Germany (7.6 tons, or 26.7 per cent), Uruguay (1.3 tons, or 4.5 per cent), Italy (1.1 tons, or 3.8 per cent) and Australia (1.0 ton, or 3.4 per cent).'
https://www.incb.org/documents/Narcotic-Drugs/Technical-Publications/2019/Narcotic_Drugs_Technical_Publication_2019_web.pdf
The UK banned cannabis in India in the 19th century and is now the leading producer, exporter and stock holder of cannabis in 2018. How's that for a transformation?
'Most cannabis stocks were held by the United Kingdom (189.3 tons, or 92.2 per cent of global stocks), followed by North Macedonia (3.5 tons, or 1.7 per cent), the Netherlands (3.2 tons, or 1.6 per cent), Israel (2.4 tons, or 1.2 per cent) and Chile (2.3 tons, or 1.1 per cent).'
https://www.incb.org/documents/Narcotic-Drugs/Technical-Publications/2019/Narcotic_Drugs_Technical_Publication_2019_web.pdf
'This January 1 marks the one year anniversary of California’s legalization of recreational pot, and the state has come a long way in destigmatizing the drug. We’ve seen companies like MedMen become mammoths in an increasingly competitive industry, turning a historically counter-culture business into one of the trendiest capitalist ventures of 2018.'
https://www.scpr.org/programs/airtalk/2018/12/26/64025/california-cannabis-check-in-a-year-after-marijuan
'She identified four key consumer product categories, collectively worth $500 billion, where cannabis could become a bigger player, including:
- Adult use: “We continue to view cannabis a substitute social lubricant to alcohol, as evidenced by declining reported alcohol incidence among 21- to 25-year-olds, and rising cannabis incidence,” she wrote.
- Beauty and nutraceuticals: “Health and wellness consumers are beginning to find value and use cases from CBD-based oil extracts, tinctures, topicals and capsules to improve everyday life. We expect to see CBD used as a functional ingredient in nonalcoholic beverages.”
- Over-the-counter pain and sleep aids: “While currently at early stages of development, we believe pain management and insomnia have high incidence levels among adults and are two focus medical indicators by cannabis companies’ (research and development) teams today.”
- Pharmaceutical: “Today there is an ever-expanding array of use cases for cannabis as a form of treatment for chronic and severe conditions, shown through increased clinical trials, patents and international acceptance through medical cannabis legalization.”'
'“What’s exciting, in a sense, is that yes, there is money to be made,” Giadha Aguirre de Carcer, Founder of New Frontier Data, told Yahoo Finance. “But there is also that great double bottom line, meaning we can make money in this industry, and candidly, still do good.
“To be at the forefront of seeing how this plant is [seeing] not just recreational use, which is great, but [also] true medical impact.”'
https://finance.yahoo.com/news/u-s-weed-industry-seeks-double-bottom-line-172505489.html
'Three more states could prove likely candidates to legalize recreational cannabis in 2019. Uncle Sam may be poised to reform the nation’s marijuana laws. And annual medical marijuana sales in the United States are projected to drop for the first time in 2018 – but the decline is expected to prove short-lived.
Those were just three of the predictions that came to light Wednesday on the first day of the annual MJBizCon in Las Vegas – with some marijuana reform at the federal level representing a potentially groundbreaking development for the cannabis industry.'
https://mjbizdaily.com/cannabis-business-predictions-take-center-stage-at-mjbizcon-2018/
'“It’s a huge deal because it’s a domino effect. Banks can get involved now and if banks get involved, then credit card processors get involved — and if that happens, then big box stores like Target and Wal-Mart get into it,” said Sean Murphy, a New Frontier data analyst, to the AP. “All these big players are going to come in.”
$1.3 billion of the predicted sales would come from hemp-derived CBD products, which would be legal to ship across state lines without fear of prosecution as long as the products are approved by the FDA.'
https://blog.sfgate.com/smellthetruth/2018/12/13/congress-passes-farm-bill-to-leg
'Colorado has become a hub for companies that want a piece of the lucrative marijuana market while remaining on the legal side of the green line. Those pot-related businesses run the gamut from specialized services for cleaning marijuana laboratories to dispensary security guards to packaging designers and manufacturers.'
https://www.denverpost.com/2018/12/26/colorado-ancillary-cannabis-marijuana-businesses/
2018 International Cannabis Business Year in Review
https://mjbizdaily.com/year-in-review-2018-international-cannabis-news/
'“On a global level for the industry, 2019 will be characterized by product innovation,” Gorenstein says. “We have this influx of specialists and creative people from other industries — whether its food, beverage, tobacco, cosmetics — coming into the space and working with cannabis experts on developing products.”'
https://www.rollingstone.com/culture/culture-features/2019-weed-marijuana-cannabis-what-to-expect-774035/
'Marijuana professionals will have an abundance of business opportunities, questions and challenges on their radar in 2019. What follows is an overview of nine of the most important.'
https://mjbizdaily.com/marijuana-business-entrepreneurs-challenges-2019/
'“CBD oil is a big thing," Walmsley said. "There’s a lot of products we utilize for hemp but we can’t grow it here. We can’t manufacture it and utilize American-grown products, so the farm bill changes that.”'
https://thehill.com/hilltv/rising/424193-hemp-provision-was-key-to-passage-of-new-farm-bill-says-farm-bureau-official
'With each new year comes a fresh reminder that the only constant is change, an axiom with particular relevance in the nascent and mercurial legal cannabis industry. As the calendar turns, these are among the hottest topics to track throughout the first quarter of 2019 and beyond'
https://newfrontierdata.com/marijuana-insights/market-dynamics-worth-tracking-throughout-2019/
'“CBD has become recognized in the past five or six years to be as important or more important than THC,” he said. “The focus for a long time was on medical marijuana and legal marijuana.
“With the evolution of the hemp industry, that made it possible to obtain CBD from hemp that has no THC, rather than from a recreational cannabis source or a marijuana source. It’s steadily gaining traction in the media. It’s reaching a crescendo now as all these things come together with legalization and awareness.”'
http://www.spokesman.com/stories/2019/jan/09/mushrooming-cbd-industry-has-hemp-explosion-behind/
'Marijuana Business Daily surveyed several Colorado cannabis company owners of both plant-touching and ancillary businesses to suss out the lessons they’ve learned since 2014.
The selected answers focused on: Preparation, Flexibility, Customer service, Compliance'
https://mjbizdaily.com/business-lessons-5-years-of-legal-recreational-cannabis-sales-colorado/
'California’s fully legal recreational marijuana market is now more than a year old, but is it maturing?
Sort of.
There’s an ongoing infusion of capital, endless activity as companies and entrepreneurs compete for business permits, continued confusion statewide over regulations and competition from the illicit market.
Also throw in a new, cannabis-friendly governor who may change the state’s MJ business landscape. What follows is a review of the latest happenings being discussed by California’s industry insiders.'
https://mjbizdaily.com/track-and-trace-launches-new-legislative-session-cannabis/
'Ever since the farm bill was passed, the CBD boom is being met with varying reactions, within different states.
Many CBD producers were simply waiting for the bill to pass in order to aggressively expand operations. New Frontier Data projects that the U.S. hemp market will triple in the next three years by 2022. The CBD sector is not only maturing but distancing itself from the THC sector. As such, CBD products are hitting the shelves in droves.'
https://www.potnetwork.com/news/despite-legalized-hemp-cbd-still-issue-these-states
'A New York-based investment bank initiated coverage of the cannabis industry Monday, another sign that Wall Street prudence is catching up to main street excitement over the burgeoning sector.
The global marijuana industry has a “base-case conservative” forecast worth roughly $50 billion in the next decade, Jefferies Group said in its initiating report, and a “realistic upside” size of $130 billion based on wider industry disruption.
Putting that into context, Jefferies estimates the industry is worth $17 billion today.'
https://mjbizdaily.com/wall-street-bank-fears-cannabis-commoditization-overdone/
'There are lots of secrets in the tea business, and tea heads guard these supposed secrets with imbecile slyness. For example, tea must be cured, or it is green and rasps the throat. But ask a tea head how to cure weed and he will give you a sly, stupid look and come-on with some double-talk. Perhaps weed does affect the brain with constant use, or maybe tea heads are naturally silly.
The tea I had was green so I put it in a double boiler and set the boiler in the oven until the tea got the greenish-brown look it should have. This is the secret of curing tea, or at least one way to do it.' - Junky, William S Burroughs, 1977, originally published in 1953
'Marijuana executives in Colorado – both plant-touching and ancillary – have learned enough about doing business in a new adult-use cannabis market over the past five years to write textbooks on the topic.
The Centennial State made history when it launched the world’s first adult-use marijuana market Jan. 1, 2014.
Along the way, Colorado’s cannabis trailblazers have encountered more than their share of growing pains – lessons that can be applied to other emerging recreational markets.'
https://mjbizdaily.com/lessons-learned-in-colorado-can-benefit-all-aspiring-recreational-marijuana-entrepreneurs/
'The ability to leverage economies of scale in a vertically integrated business model is a clear advantage.
But experts who spoke with Marijuana Business Magazine largely agreed that vertical integration isn’t the model for a business to succeed.
“Because the customer demographic of cannabis is so broad, a diverse number of business models are potentially viable – if decisions are made well,” said Sabrina Fendrick, the director of government affairs for Berkeley Patients Group, a nonvertically integrated retailer in Berkeley, California.
“The question is: Does one want to be a jack of all trades or a master of one?”'
https://mjbizdaily.com/is-vertical-integration-the-right-approach-for-your-cannabis-business/
'As California works out the kinks in its new if long-anticipated adult-use market, and Canada prepares to roll out its nationwide industry in October, the overall cannabis industry in North America is already a multi-billion-dollar enterprise. Yet growth opportunities abound, and activity at the ground and state levels demonstrates how the market is maturing even amid some seeds of uncertainty from the federal level'
https://newfrontierdata.com/marijuana-insights/cbd-offers-opportunities-obstacles-yet-determined/
'“Colorado has done a good job in sizing the market. In Oregon, it's going to take a while for that balance to be established.”'
http://www.mcall.com/business/mc-biz-oregon-colorado-pot-supply-20180803-story.html
https://mjbizdaily.com/a-look-ahead-challenges-opportunities-for-marijuana-professionals-in-2018
'In 2016, VICE met business partners in Atlanta who had a dream of getting into the legal weed business, but couldn’t see a way to take their illegal grow off the streets. Two years later, the entrepreneurs—Felix and Kingston—are now running Gas House, a successful legal weed company in Oakland whose products are sold in dispensaries across California. In an industry home to a small number of black business owners, Felix and Kingston have become pioneers inspiring others to leave the underground market behind. VICE met up with the duo to learn more about how they market their products, and the legal requirements they had to meet to transition from the black market to an above-board operation. Then we talked with dispensary owners, locals, and cannabis entrepreneurs about the access and inclusion gaps in California’s legal weed industry—and what companies like Gas House are doing to close them.'
https://www.youtube.com/watch?v=289YGRMPePw
'Entrepreneurs For The Cannabis Economy, Cannabis Cultivators, And Excellent Customer Service'
http://www.cannabisradio.com/podcasts/ncia-cannabis-industry-voice/entrepreneurs-for-the-cannabis-economy-cannabis-cultivators-and-excellent-customer-service/
'Cristy and Tate stared at each other for a moment then both stared again at the letter on the desk in their narrow office in back of their store. Just a couple of years out of college, and barely 2 months after opening Cannabis & Glass (C&G ), a retail recreational marijuana store in Spokane, Washington, they had a cash offer of US $750,000 for the recreational marijuana retail licence and their fledgling store business. They had paid US $250 to apply for the licence, another US$500 to incorporate the limited liability corporation (LLC) and had about US$1,000 inventory on hand. Every time he plugged the numbers into a return on invested capital (ROIC) formula, Tate chuckled and said out loud, ‘You gotta love it when a good plan comes together.’'
http://journals.sagepub.com/doi/full/10.1177/0971355716677397
The tea I had was green so I put it in a double boiler and set the boiler in the oven until the tea got the greenish-brown look it should have. This is the secret of curing tea, or at least one way to do it.' - Junky, William S Burroughs, 1977, originally published in 1953
'Marijuana executives in Colorado – both plant-touching and ancillary – have learned enough about doing business in a new adult-use cannabis market over the past five years to write textbooks on the topic.
The Centennial State made history when it launched the world’s first adult-use marijuana market Jan. 1, 2014.
Along the way, Colorado’s cannabis trailblazers have encountered more than their share of growing pains – lessons that can be applied to other emerging recreational markets.'
https://mjbizdaily.com/lessons-learned-in-colorado-can-benefit-all-aspiring-recreational-marijuana-entrepreneurs/
'The ability to leverage economies of scale in a vertically integrated business model is a clear advantage.
But experts who spoke with Marijuana Business Magazine largely agreed that vertical integration isn’t the model for a business to succeed.
“Because the customer demographic of cannabis is so broad, a diverse number of business models are potentially viable – if decisions are made well,” said Sabrina Fendrick, the director of government affairs for Berkeley Patients Group, a nonvertically integrated retailer in Berkeley, California.
“The question is: Does one want to be a jack of all trades or a master of one?”'
https://mjbizdaily.com/is-vertical-integration-the-right-approach-for-your-cannabis-business/
'As California works out the kinks in its new if long-anticipated adult-use market, and Canada prepares to roll out its nationwide industry in October, the overall cannabis industry in North America is already a multi-billion-dollar enterprise. Yet growth opportunities abound, and activity at the ground and state levels demonstrates how the market is maturing even amid some seeds of uncertainty from the federal level'
https://newfrontierdata.com/marijuana-insights/cbd-offers-opportunities-obstacles-yet-determined/
'“Colorado has done a good job in sizing the market. In Oregon, it's going to take a while for that balance to be established.”'
http://www.mcall.com/business/mc-biz-oregon-colorado-pot-supply-20180803-story.html
https://mjbizdaily.com/a-look-ahead-challenges-opportunities-for-marijuana-professionals-in-2018
'In 2016, VICE met business partners in Atlanta who had a dream of getting into the legal weed business, but couldn’t see a way to take their illegal grow off the streets. Two years later, the entrepreneurs—Felix and Kingston—are now running Gas House, a successful legal weed company in Oakland whose products are sold in dispensaries across California. In an industry home to a small number of black business owners, Felix and Kingston have become pioneers inspiring others to leave the underground market behind. VICE met up with the duo to learn more about how they market their products, and the legal requirements they had to meet to transition from the black market to an above-board operation. Then we talked with dispensary owners, locals, and cannabis entrepreneurs about the access and inclusion gaps in California’s legal weed industry—and what companies like Gas House are doing to close them.'
https://www.youtube.com/watch?v=289YGRMPePw
'Entrepreneurs For The Cannabis Economy, Cannabis Cultivators, And Excellent Customer Service'
http://www.cannabisradio.com/podcasts/ncia-cannabis-industry-voice/entrepreneurs-for-the-cannabis-economy-cannabis-cultivators-and-excellent-customer-service/
'Cristy and Tate stared at each other for a moment then both stared again at the letter on the desk in their narrow office in back of their store. Just a couple of years out of college, and barely 2 months after opening Cannabis & Glass (C&G ), a retail recreational marijuana store in Spokane, Washington, they had a cash offer of US $750,000 for the recreational marijuana retail licence and their fledgling store business. They had paid US $250 to apply for the licence, another US$500 to incorporate the limited liability corporation (LLC) and had about US$1,000 inventory on hand. Every time he plugged the numbers into a return on invested capital (ROIC) formula, Tate chuckled and said out loud, ‘You gotta love it when a good plan comes together.’'
http://journals.sagepub.com/doi/full/10.1177/0971355716677397
Officially sponsored myth 8 - '"Peddlers try to get high school children on junk, or marijuana. A recent magazine article depicts peddlers slipping laudanum into the Coca-Cola of teenagers."
This is utterly ridiculous. No peddler wants kids for customers. They never have enough money, they talk too much and they cannot stand up under police questioning. The best customers are the old-timers. They know all the angles and generally have some source of revenue.'
- Junky, William S Burroughs, 1977, originally published in 1953
This is utterly ridiculous. No peddler wants kids for customers. They never have enough money, they talk too much and they cannot stand up under police questioning. The best customers are the old-timers. They know all the angles and generally have some source of revenue.'
- Junky, William S Burroughs, 1977, originally published in 1953
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