Adam Biermann returns, sharing the changes and retail developments of what he calls the “industry of our lifetime.” This is because the cannabis industry is being born as we live, with growing support on all sides giving it momentum for progress. He emphasizes that this momentum is what matters most, rather than fixating on single events. Cannabis companies face unique struggles in the emerging retail market, including arduous zoning restrictions, legal matters, public perception, research, and investment strategies. But those are all just small parts of the growing snowball leading to an avalanche of business in the space.
Seth Adler: Adam Biermann returns. Welcome to Cannabis Economy. I'm your host Seth Adler download episodes on canneconomy.com. That's two Ns and the word economy. This interview was recorded at the NCIA Seed to Sale Show. It was the opening keynote at that show a little while back. Very much appreciate Adams time as usual. First a word from one of Wana Brands and then Adam Biermann. Want to know with Wana Brands, Nancy state expansion, Arizona.
Nancy: Yes, Arizona is our latest state. Our products are doing really, really well. We're very, very pleased. Arizona is an interesting state because it is just medical. But it's quite a liberal state in terms of allowable conditions, who can prescribe. So in some ways it has more of a characteristic of an adult use market, and it probably will go wreck some times soon, so it's important for us to get a toehold in there now.
Seth Adler: Keep it going for the very long walk to the stage CEO Adam Biermann. There you go. Okay, here we are, again. It's good to see you. I started in the cannabis industry 2012, when Colorado and Washington voted in adult use.
Adam Biermann: We're really close right now.
Seth Adler: We're very close.
Adam Biermann: I'm gonna do this.
Seth Adler: This is [crosstalk 00:01:28] oh okay. We should be further apart. Okay. We've almost, nearly. 2013 would have been the first time I spoke to you. We've spoken many times since. 2019 is a different year than 2013 for legal cannabis, would you say?
Adam Biermann: I would say, yeah.
Seth Adler: One key indicator would be the fact that we are, well we're here in Massachusetts, so is cannabis. We've gotten New York, we've gotten New Jersey, we've got Florida. 2019 it seems like is ... a brand new focus on this side of the country. I know you guys have a big focus on this side of the country. What are your thoughts on that?
Adam Biermann: There's never been a more exciting time to be in the cannabis industry than 2019. And there won't be a more exciting time to be in the cannabis industry than 2020 when we get there as well. This industry as you have witnessed is being born as we live. This will be the industry of our lifetime. And so every year-
Seth Adler: Every day is day one almost right?
Adam Biermann: And every day is dog years, and we all ... everybody in this industry talks about that. I don't know, it seems like we met 25 years ago,.
Seth Adler: It's, well doing the math, it's actually even longer.
Adam Biermann: It would work for you because I think you're old enough for that, but for me I'm way too young, so it wouldn't have been 25 years go.
Seth Adler: Of course, you were so much older then, you're younger than that now.
Adam Biermann: But yeah, I mean, we're here in 2019 look over 75% of Congress represents a constituency that is in favor of legal cannabis. That is probably the most important thing going on in 2019 is we got rid of Pete Sessions, and we have a congress in favor of protecting states rights and legal cannabis. That is the biggest thing. As a consequence of that momentum you have all the other movement you're talking about. There's a vigorous debate going on in New York, there's a promise that's been made in New Jersey. There's a promise that's been made by the new Governor of Illinois. I think in 2019, you'll see some very important markets flip to rec. I think in 2019 we'll get a ton of progress at the federal level.
I think also in 2019, you have a couple other really big things going on. One is you will see more institutional participation on the capital side directly into US cannabis. And I think in 2019, you'll see a very big push of Canada coming down to the US. There's been a lot of talk about how are these Canadian LPs with these monster market caps going to play the US. 2019 is a year that you'll start to see that unfold.
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