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Green Rush : Getting in the Cannabis Industry, LA and Beyond


 
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 1 month ago '06        #1
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DominicanLou 24 heat pts24
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Green Rush : Getting in the Cannabis Industry, LA and Beyond
 

 
I know there are some heads in here who are much well-versed in this topic than I am, but I just wanna kick it off. I don't know much of anything, but I'm involved. Please contribute.

Deadlines?


I can't really find anything online for any hard deadlines, which is troubling? But word is it's going down early next week image

Licensing

Phase one
Pre-ICO companies or dispensaries that were generally in business prior to 2007, paid all the taxes, so as under the Pro215 regulations. A business that's been in at least good standing for quite awhile.

Phase two
For those operators that have been in business prior to January, 1 2016, so business that clearly wasn’t in compliance.

Phase three
Will be for those that are completely new to cannabis, no experience, but they want to get involved in the industry.

Types of Licensing
Type A - for adult use (additional taxes, but less hassle)
Type M - for medical use (more cumbersome to maintain)


Social Equity Program

Social Equity Program Qualifications. The City of Los Angeles has adopted a Social Equity Program that offers priority application processing and business support to individuals who have been disproportionately impacted by the previous criminalization of cannabis activities.


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 Everything You Need to Know About Los Angeles' Cannabis Social Equity Program


Here's where my rant begins.

This is where it gets deep, my friends. Considering the history this country has in purposefully excluding other marginalized Americans *cough black people* you should understand the anxiety and uneasiness in my stomach right now. The cannabis industry will be a significant part of LA's economy, creating billions of revenue and thousands of jobs. The "War on Drugs" disproportionately affected "communities of color" and when you research the stats of those communities you find out this primarily meant African-Americans as well as Latino.

I couldn't find stats for the arrest rates of Latinos (because the FBI has been known to miscategorize Latinos as whites), but for Blacks, the arrest rates for possession of marijuana (and other offenses) is the highest anywhere; over 3x than that of whites. So now legalization has happened and local government is figuring out how to introduce the cannabis business into the commercial mainstream. At the same time, we're looking at another significant opportunity for wealth creation through cannabis. And now the group most affected by its illegalization is now the same group that will most likely least benefit from its legalization. It's a trip when you think about it.


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 f*ghting for Social Equity to Aid Those Most Hurt by the War on Drugs


What this shows me is just another example of why politics matter, especially on the local level. The Social Equity program is already being criticized for not having any organization or rigidity when it comes to who can actually participate. For this reason, investors have already found ways to use the program for their own benefit, to the detriment of the demographic it is aimed to serve. If you visit the
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 Department of Cannabis Regulation website for Social Equity in the City of LA..it offers nothing of real substance....You would think for something so important it would look more put together.


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 LA Black & Brown Leaders Condemn ‘Power Play’ Undermining Social Equity & Community Reinvestment In New Cannabis Licensing


image

My fear is that as LA (and other places like Chicago) are trying to figure out what to do and how to do it, the Social Equity program, while well-intentioned, will be a failure because of lack of leadership, organization, and structure. And years later when we are still f*ghting for economic inclusion, "they" will say "But y'all had the Social Equity programs.."

For those of you in states, in cities, of communities where this sh*t affected your life or those around you, make sure you organize, advocate, and put the pressure on your local government to set up something similar and be held accountable for it.

Not having a sense of urgency can k*ll your business aspirations.


This woman
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 drops some little gems about what to cautious of. When I heard the name of her company I knew it sounded familiar. Did a quick search in my emails and noticed she was an old client at org I used to work with. Her growth story is inspiring and its dope to see her in this space now.

/Rant

Licensing, Operations, Compliance are the three key aspects of this industry (IMO) that are needed to participate in the successful selling of/delivering of legal cannabis...which in itself creates an opportunity...

There are also other ways to participate in the industry. Dispensaries will need marketing, packaging, CRM, branding, merchandise, consultants, etc. like any other industry would require. Social Equity license holders will need support, resources, and counsel to a*sure they can have a sustainable, successful business and you can get your city to pay you, as a nonprofit or for-profit org, to offer those services image

Does your city have special bids for contractors that have minority-owned, Veteran-owned, or women-owned business designations? These are "priority" opportunities given to disenfranchised communities. Might not be a bad idea to get one. I can already see the City opening up contracts for cannabis-related projects and people getting shut out once again because they don't hold any of these certificates.

I'll try to add more. Gotta get back to work..

2 comments for "Green Rush : Getting in the Cannabis Industry, LA and Beyond"

 1 month ago '14        #2
titans7 1 heat pts
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Saw a guy in another thread say its takes $50,000 to start a dispensary in Canada so if that's true you guys in Canada need to pool your money and get on that because its printing money to sell legal weed. I heard a lot of this industry can be racist to get into from the government license and everything so watch out for that in both countries.
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 1 month ago '06        #3
DominicanLou 24 heat pts24 OP
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 titans7 said
Saw a guy in another thread say its takes $50,000 to start a dispensary in Canada so if that's true you guys in Canada need to pool your money and get on that because its printing money to sell legal weed. I heard a lot of this industry can be racist to get into from the government license and everything so watch out for that in both countries.
Yup, it's a "rich man's game" and a profitable one in a very gray area right now, so it's ripe for exploitation. Social Equity programs are meant to combat that and provide a workaround for people who don't have the means but were either directly or indirectly affected by the War on Drugs.

LA’s social equity program has the stated goal of promoting “equitable ownership and employment opportunities in the cannabis industry in order to decrease disparities in life outcomes for marginalized communities and to address the disproportionate impacts of the war on drugs in those communities.”

The program intends to offer a*sistance in the form of funding, physical space, and a separate licensing timeline to any commercial cannabis licensees who meet the program criteria. Some of the program benefits as of July 2018 include:
Verification of the program qualification without premises verification (e.g., a candidate may be approved without a site evaluation);
Priority processing (more on that in a minute);
Business, licensing, and compliance a*sistance (TBD by the city);
Training via an incubator (TBD by the city);
Fee waiver (TBD by the city);
Access to an industry investment fund (if established in the future)
You gotta link up with a network that's not trying to take advantage. Social Equity gives priority over "standard" applicants..and promises for every one license issued, two will be granted to a Social Equity applicant. So, investors will mos def be going after SE applicants to get in. In addition, it's about opening employment opportunities to "POC" communities, in the industry. This industry will be able to provide living wages even at the entry level.

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