FFNTF - An Unvarnished Look At New York + California Cannabis Markets
2024-02-01 12:30:00 ET
Summary
- New York and California cannabis markets are facing significant challenges and are not meeting expectations. Katie Neer and Hirsh Jain break it down for investors.
- Both states have complex regulatory frameworks and high taxes that are hindering the growth of the legal cannabis industry.
- There are investment opportunities in distressed assets in California, but the market is currently unstable.
Listen here or on the go via Apple Podcasts or Spotify .
Katie Neer and Hirsh Jain break down the dispiriting New York and California cannabis markets (3:00). What the 2 states have gotten wrong, and why it's not being corrected (9:55). Dysfunction and pushing regulators and the law to work better (34:45). Are there any investment opportunities in either market? (47:40)
Transcript
Rena Sherbill: Welcome Katie Neer and Hirsh Jain to the Cannabis Investing Podcast. Super happy to have you both on the show. So, thanks for making the time and coming on.
Hirsh Jain: Of course. So great to be back on , Rena.
Katie Neer: Thanks for having me, Rena. It's nice to meet you, Hirsh. I'm excited for today's convo.
HJ: Me too.
RS : Yeah, Katie, welcome to the show. Super happy to have you on. Hirsh, absolutely always a pleasure. Thank you for sharing your insights yet again and super happy to dive into, if you haven't yet already guessed, Hirsh will be talking cannabis mostly in California, but honestly, he knows what's going on everywhere.
Katie is focused on the New York market and wanted to have them on today because everything's going really well in both places and I just wanted to congratulate everybody and just kind of do a victory lap. Just kidding, it seems like craziness is afoot more and more every day.
So, I feel like maybe a good place to start, I think we're going to start with New York just because there's news from there and interest about like what might be happening and what might never happen. So Katie, I'd love if you would kind of give a bit about your background, where you're coming from, and share how you see, kind of start with big picture about what's happening in New York these days?
KN : Oh, where to begin? So, just as a little bit of background, I’m a regulatory attorney here in New York, that’s focused on cannabis industry. I have worked inside plant touching companies and also in the ancillary cannabis tech space. I've also worked in government here in New York State. So, sort of have a 360 degree view of the subject matter.
And where we are in New York right now is, kind of in the exciting part of implementing the adult use legalization and regulatory law that was passed nearly three years ago now that MRTA is what people call it....
An Unvarnished Look At New York + California Cannabis Markets