As an Israeli living in the United States, Lilach Power, founder of Giving Tree Dispensary, has a unique perspective on the way regulations work in both countries. Because of the way regulations in the United States are going, Power predicts that the industry will eventually segment into three categories: pharmaceutical, wellness, and recreational. In addition to regulations, Power discusses the hopes she has for the state of Arizona, her business, and banking reform.
Seth Adler: Lilac hour returns. Welcome to cannabis economy, I'm your host, Seth Adler. Download episodes on Canneconomy.com, that's two N's and the word economy or wherever you currently get your podcasts. Canneconomy.com has a ton of direct insight these days from business policy and scientists in space. First a word from Juana brands and then Lilac power.
Wanna know with Juana brands? Nancy, consumer education.
Nancy: I think what is gonna happen longer term in this industry, is that in order to really grow the total pie, we need a lot more consumer education. People really need to understand more about cannabis and they need to understand how to use it in a way that's effective and comfortable for them. And we need to also educate medical professionals so that they can educate the folks who they're working with.
Speaker 3: Here's people that walking by 'cause we're outdoors...you know what that is right?
Speaker 4: That's pretty cool.
Speaker 3: Yeah, what sea is this?
Speaker 4: Mediterranean.
Speaker 3: Yeah. Like you've looked at me like, 'uh oh, did you really not know that that's the Mediterranean sea.' We're here in Israel. Lilac Power. You're Israeli.
Speaker 4: I am.
Speaker 3: Usually you're in Arizona.
Speaker 4: Usually.
Speaker 3: But this is home.
Speaker 4: This is home.
Speaker 3: So you weren't born in Arizona, raised in Babylonia. Like King Tut. No that's ridiculous to Steve Martin tom foolery. Anyway, so it's 2019, right, podcast land knows no time.
Speaker 4: Yeah.
Speaker 3: You and I have now known each other for too long.
Speaker 4: That is. Definitely in cannabis years.
Speaker 3: Right? So I would've called you, I wouldn't have called you in 2012 because I was only calling Colorado people and Washington people and then I found out about the California people and then, I was like, oh wait...medical cannabis. Oh this is interesting, yeah. Why don't we call Arizona, let's see, what's Lilac doin'. So that was 2013 let's say, now it's 2019. Of course things have changed, right?
Speaker 4: A little.
Speaker 3: You are not a multi state operator, right? Do you know MSOs. You know that term right
Speaker 4: I do know that, that's not...
Speaker 3: It's a parlance of our times.
Speaker 4: Yes it is. Definitely in the last, in the last six months, it's all we hear.
Speaker 3: That's it. Are you a multi state op or are you an international operator, ya know? Are you going down to Columbia everybody wants to know, right?
Speaker 4: I am going to to Columbia.
Speaker 3: I was actually asking you in passing.
Speaker 4: Oh funny, yeah so, Arizona vertically integrated. Still a great market there with everything that's happening.
Speaker 3: We didn't quite get adult use this 2016 but that's okay.
Speaker 4: We did not, no. We had other issues that election but hopefully 2020 will be our year. I am involved in a company in Israel.
Speaker 3: Which company? Did we talk about that?
Speaker 4: No, they're not...they just got their licenses. They're gonna be vertically integrated. We're just starting. Just got our approval for GMP for our construction documents so hopefully start building next month or two.
Speaker 3: So these are, is, pharmaceutical regulations.
Speaker 4: It is completely different.
Speaker 3: Yeah, how is it completely different, one wonders. How would you say to the American audience, what the international audience knows?
Speaker 4: The regulations, in terms of, even just the build art, of the grow and the extraction is completely different. Clean rooms, the way you need to transfer things, how you can store it. Everything has a process for it. Everything is going to be controlled and going to be audited. The cannabis, the grow, will be randomly tested by the third party five times during the process of grow. In Arizona it's not even mandatory testing.
Speaker 3: Right, We might get to it, yes? So just beware. Whereas it's definitely happening five times we're not letting you know when.
Speaker 4: It's, yeah. It's completely different. And I think it's a good things, right? Especially when we claim medical.
Speaker 3: Well, so there's that word, right? So first off, we've always kind of been for safe patient access.
Speaker 4: Yes.
Speaker 3: And what we meant in America, was, 'Are you testing it? Could you please just test it please?' Ya know. Please, just for the people, test the cannabis. So when we're talking about medical as opposed to what? Do you call in compassionate use? Are you one of those people?
Speaker 4: I call recreational use.
Speaker 3: Whoa whoa whoa. So you call the medical program in...that's what I'm asking. See what I mean?
Speaker 4: Oh, oh. In Arizona? I called well being.
Speaker 3: Well being. Compassionate use. Right, okay. As opposed to medical. You have ceased to call medical, 'medical.' Interesting.
Speaker 4: Yes, I mean, in Arizona it's well being. It's people treating themselves for different conditions. Now if a person use it for social anxiety, is that medical?
Speaker 3: Well that's the wellness stuff. But you also do have...we've spoken in the past...you have true medical patients that are taking cannabis for...
Speaker 4: Absolutely.
Speaker 3: So just bring us through one more time, real quick.
Speaker 4: Cancer, Crones, Epilepsy. We have very, very sick patients coming to the dispensary.
Speaker 3: Now the cannabis that you're giving them, you no longer call that medical cannabis? You call that compassionate use cannabis? I'm trying to make sure I understand what we're talking about.
Speaker 4: You call everything weird medical programs.
Speaker 3: It's the medical programs, so within Arizona it's medical, but you're saying...compared to what you're doing here in Israel, there are completely different standards.
Become a member to access to webinars, quarterly reports, contributor columns, shows, excerpts, and complete podcast transcripts