I started this blog to organize my own thoughts.
My previous background up to this point was largely in corporate finance, investing in public markets and software startups, and running a 60-year old family restaurant business with my dad. I’ve also sat on the boards of several non-profits including United Way of Merrimack Valley and Massachusetts Bay and Merrimack Valley Chamber of Commerce.
My fascination with cannabis began a couple years ago. In 2016, my close friend introduced me to cannabis as a legitimate industry. After being presented with the facts and setting aside my stigma of the industry (thanks to DARE), I was hooked.
In 2017, my friends and I launched a startup that solved the onerous seed-to-sale tracking requirements for state licensed cultivators. We built tools for several cultivation companies to more easily manage compliance requirements. Less than a year later, the company was shuttered under the weight of cofounder disagreements. Nevertheless, my curiosity keeps bringing me back to the industry.
I believe that cannabis is one of the biggest secular trends of our generation. There are so many interesting things happening with the legalization wave not just in the U.S. but across the globe. This trend directly translates into economic profits.
More importantly, legalization means that society is better off:
- Cannabis and its 110+ phyto-cannabinoid compounds is an emerging healthcare solution that’s more desirable than the current pharmaceuticals, and can solve our country’s addiction to opiates.
- Cannabis is a wellness product similar to neutraceuticals such as cosmetics, food/dietary supplements, edibles, and oils. These all follow a short path to market. CBD has already taken off and can be found in supermarkets and convenience stores.
- Cannabis and hemp is used across the globe for centuries as a fiber, and is in the production of rope, sail, cloth, and paper, as well as biofuel applications.
- Cannabis is a discretionary vice that’s less harmful than other alternatives, notably alcohol and opioids/heroin, which is similarly classified as a Schedule I narcotic.
- Social equity and criminal justice reform – opportunity for disadvantaged communities to redeem the perils of the failed War on Drugs.
- Tax revenue is already flowing through the states and municipalities that have legalized cannabis.
Today, I’m actively looking at opportunities in cannabis startups.
I’ve invested in several California-based startups that span cultivation, manufacturing and branding, and distribution. I’m also invested in several publicly-traded Canadian LPs and US-based companies.