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Ep.305: Troy Dayton, Arcview Group

Cannabis Economy Podcast
Ep.305: Troy Dayton, Arcview Group

Ep.305: Troy Dayton, Arcview Group

Troy Dayton returns. We discuss the fact that cannabis should be America’s to lose, but that’s in fact what’s happening. Canada is of course burgeoning with capital, import and export. The international trade winds are blowing and Troy says it’s hard to imagine a situation where we don’t see 20+ compound annual growth rates for the next decade or more. The European investors are starting to get excited. Troys ays Asia investment is waking up with asymmetry knowledge to capital. But as noted, the fact that there’s an adversarial Attorney General in office, risk is still very much alive.

Transcript:

Speaker 2: Troy Dayton returns, Troy Dayton returns. We discussed the fact that cannabis should be America's to lose, but that's not in fact what's happening. Canada is of course burgeoning with capital import and export. The international trade winds are blowing and troy says it's hard to imagine a situation where we don't see 20 plus compound annual growth rates for the next decade or more. The European investors are starting to get excited choice as Asia investment is waking up as well. But as noted, the fact that there's an advertorial, attorney general and office risk is still very much alive. Welcome to cannabis economy. I'm your host Seth Adler. Check us out on social with the handle can economy. That's two ends of the word economy. Troy Dayton, I guess if it's September, the first question that I should ask you is, how was it burning

Speaker 1: man? A fantastic, uh, it was, uh, as with my 16th year, um, and it's the first year back after the first time I ever took a break. And uh, you know, what's great about burning man is, is particularly for being at a cannabis entrepreneur because, but it's really true for anybody is that your day to day identity takes up so much space and you know, if you were a business owner, that business has just completely colonized your mind. Certainly. Right. I mean it's hard to have a thought about anything besides your business. How could you? Right. Yeah. And when I go on like a regular vacation, it's nice. I get to relax, but I'm still in my brain and the way that I'm constantly thinking about business and by normal identity is just constantly there. What's great about burning man is that it's loud enough to pierce through your identity.

Speaker 1: So literally for a week I barely thought about work and my identity was where I lived was my camp and you know, like, you know, people called me t dazzle instead of troy and like there's something about getting a real break and something being loud enough louder than what your normal daily life is even in when that's really loud, that can give you that real break, that going to an island just couldn't do it because wherever you go there you are. That's right. So it was great. I came back hugely renewed and got to be chance to see my job and this industry in this movement in perspective that I am not those things, those are the things I'm doing while I'm here on this earth. That was a powerful thing that I remember now why I needed to go every year. So almost a year off. Yeah, kind of helped that.

Speaker 1: Yeah. It helped me realize that I really need that. Well, you're a busy guy. You keep yourself pretty busy. Yeah. So we're going to talk about all the arcview stuff in a minute. I wanna Kinda back out and talk internationally nationally, then get to California, then go to arcview. So start as big as we can right now. I know, obviously you went to Barcelona last year. Well if we're gonna if we're going to go that big, I mean let's start intergalactic. Oh sure. I mean, lets, I mean if we really, I mean let's, let's go real big here seth. You know, well we're planning an event on Mars 20, 22. We're working uh, with soon basically. Yeah. I mean we're, we're working with, uh, with, with Elon Musk. We're also working with a, um, with a virgin. Richard Branson and his crew. I mean they're, they're, they're competing for different, uh, uh, things about actually taking cannabis entrepreneurs and cannabis plants up to a Mars.

Speaker 2: Troy Dayton returns, Troy Dayton returns. We discussed the fact that cannabis should be America's to lose, but that's not in fact what's happening. Canada is of course burgeoning with capital import and export. The international trade winds are blowing and troy says it's hard to imagine a situation where we don't see 20 plus compound annual growth rates for the next decade or more. The European investors are starting to get excited choice as Asia investment is waking up as well. But as noted, the fact that there's an advertorial, attorney general and office risk is still very much alive. Welcome to cannabis economy. I'm your host Seth Adler. Check us out on social with the handle can economy. That's two ends of the word economy. Troy Dayton, I guess if it's September, the first question that I should ask you is, how was it burning

Speaker 1: man? A fantastic, uh, it was, uh, as with my 16th year, um, and it's the first year back after the first time I ever took a break. And uh, you know, what's great about burning man is, is particularly for being at a cannabis entrepreneur because, but it's really true for anybody is that your day to day identity takes up so much space and you know, if you were a business owner, that business has just completely colonized your mind. Certainly. Right. I mean it's hard to have a thought about anything besides your business. How could you? Right. Yeah. And when I go on like a regular vacation, it's nice. I get to relax, but I'm still in my brain and the way that I'm constantly thinking about business and by normal identity is just constantly there. What's great about burning man is that it's loud enough to pierce through your identity.

Speaker 1: So literally for a week I barely thought about work and my identity was where I lived was my camp and you know, like, you know, people called me t dazzle instead of troy and like there's something about getting a real break and something being loud enough louder than what your normal daily life is even in when that's really loud, that can give you that real break, that going to an island just couldn't do it because wherever you go there you are. That's right. So it was great. I came back hugely renewed and got to be chance to see my job and this industry in this movement in perspective that I am not those things, those are the things I'm doing while I'm here on this earth. That was a powerful thing that I remember now why I needed to go every year. So almost a year off. Yeah, kind of helped that.

Speaker 1: Yeah. It helped me realize that I really need that. Well, you're a busy guy. You keep yourself pretty busy. Yeah. So we're going to talk about all the arcview stuff in a minute. I wanna Kinda back out and talk internationally nationally, then get to California, then go to arcview. So start as big as we can right now. I know, obviously you went to Barcelona last year. Well if we're gonna if we're going to go that big, I mean let's start intergalactic. Oh sure. I mean, lets, I mean if we really, I mean let's, let's go real big here seth. You know, well we're planning an event on Mars 20, 22. We're working uh, with soon basically. Yeah. I mean we're, we're working with, uh, with, with Elon Musk. We're also working with a, um, with a virgin. Richard Branson and his crew. I mean they're, they're, they're competing for different, uh, uh, things about actually taking cannabis entrepreneurs and cannabis plants up to a Mars.

Speaker 1: Or possibly we might start on the moon, will host our first event on the moon and 20, 22 just to get to. Yeah, exactly. That's a half step. Yeah. Because it's, it's already legal there. A cannabis is already legal on the moon. Well, it takes humans to make it illegal. Right? I'm totally kidding. I don't need to get a bunch of emails about, about trying to figure out where the registration pages for this for Richard Branson, someone's going to try to pitch Matt Damon as a keynote. You're moving, right? You know. Uh, so no, not quite there yet. Right. Let you know as far as, uh, as far as your eyes and ears though, you know, you were in Barcelona last year. Where are you hearing things of interest? Were you seeing things of interest? Were you doing things with their trees? Yeah, I mean look, the international opportunity for cannabis is absolutely huge.

Speaker 1: It's so easy to get myopic just on the US and maybe just on Canada. Sure. And, but the, you know, this is ours to lose, you know, this in the US or the US. I mean, look, wow, the u s pioneered all of this stuff and really, you know, develop the most advanced markets in the world. But if we don't change our federal law, these other countries are going to leap frog us. I mean, Canada is already leap frogging us and these other countries are catching on and they're going to leap frog us as well. And the opportunity there is, is, is fantastic. And so it would be silly of anybody in the US to not be looking at what the other opportunities are as well as all the wide range of different regulatory structures that are being developed because every country has sort of this unique way of going about it and they need our help, right?

Speaker 1: Um, and people are fascinated. They're seeing the same headlines we're seeing about this booming market and it's part of the reason why I believe, you know, you know, we, we showed them that there is a 27 percent compound annual growth rate for the cannabis sector in North America. But when you look internationally and you see this, these winds blowing and the continuing progress, it's hard to imagine a situation where we don't see 20 plus compound annual growth rates for the foreseeable decade or more. She uses. And that's what makes this industry so exciting right now. Um, and as far as the places that you know, you know, we think are really interesting. Well one, I mean the European investors are getting, starting to get really excited regardless of what's happening in Europe. I mean there's some stuff happening in Jeremy, there's stuff happening in Spain, but it's, it's more not so much that they're so interested in what's happening in those countries.

Speaker 1: It's just that they're waking up to wanting to get invested in these sectors a lot in Asia. A lot of the really big money in Asia is like, okay, where do I place my bets? And they don't know the first thing. So there's a lot of a symmetry of knowledge. I'm matched with large sums of capital. Okay. So when you have an excitement about a, about a market, and then you also have a lot of asymmetry of information and relationships, it's going to be a really exciting a couple of years. Yeah. No lot of money looking to find its way into this, but they don't know anything about it. Well then that brings us back to your point being, it's ours to lose. When I look at Canada, which has federally mandated medical cannabis on its way to adult use federally, and I look at Mexico and I see federally Decrim, you know, cannabis.

Speaker 1: And then here we are with our attorney general. I mean, we have to start running here. Yeah. You know, uh, what are your thoughts on what you're, uh, and maybe meetings that, uh, you can get into that other people can't, you know, as far as the federal level. Is there anything of note we read the headlines of, Hey, you know, jeff sessions is a, maybe working with the CIA and the irs to go after a Colorado businesses and whatever, you know, we, we, he, he wrote a letter to Congress and said, oh, please don't pass the roar backer Blumenauer amendment. You know, he's writing letters to, to, to two governors and they're writing back saying, Jeff, you're mistaken. Yeah. Um, but you know, what, what are, what are you thinking and feeling and hearing there, it's certainly a risk. I am not going to sit here and say that, oh, don't worry about it.

Speaker 1: So sessions and Donald Trump, it's all gonna. Be just fine. I do think in the long run it'll all be just fine. Got It. But I do think there is a fairly reasonable possibility. I don't know if it's over 50 percent, but there's certainly a reasonable possibility that the justice department could do some silly things. Um, that being said, the response so far to what seemed to be trial balloons, um, has been swift and universally negative on anything related to going after anybody in any of these states. The cannabis is one of the most popular issues of our time. And it's one thing that we all agree on. It's amazing. Yeah. Cannabis is the one thing bringing Americans together. Right? Exactly. Uh, and, and so, uh, I think, look, they see the same polls we do, they read the same headlines. We do. Look if, if, if jeff sessions and Donald Trump are looking to become less popular, that's a good way to do this.

Speaker 1: It would be a great way to do that. I don't put it past them, but at the same time I think we're doing everything that we can. And I think that we, uh, you know, from a public relations standpoint, from a, from a, a polling standpoint, public opinion, sovereignty standpoint, and then the tax money and the jobs. Oh by the way, by the way. And that just makes it a really politically impossible, I think for them to do anything for very long. Do they have the right? Yeah. Um, and then the biggest challenge that we, that we face right now is this word Bacher Farr amendment. The one thing that Kinda keeps the Justice Department on the leash is this appropriations bill rider that keeps the justice department from spending any money to thwart state laws around this, which we now just push to December, right? So we got a, like a stay of execution here, right?

Speaker 1: We've got a few more months to dial this thing in and for those aren't keeping up to speed on it. The Senate passed it with the writer in it. The House did not, they did not allow it to come to the floor. We had the votes. If it had come to the floor, we'd have one. So now it's got to go to conference committee and what conference committee is, is you get, you get, you know, to, to people you know, you know, two from each party on each side, they have a meeting, there's eight people there in a meeting together and it's closed door, no press, no nothing, and they need to look at every place where the, where the bill from the house and the bill from the Senate are different and they need to figure it out. And what happens in those committees is they essentially horse trade, various provisions to get ultimately to a point where they can pass a bill, but without the light of day, without it being recorded or anything else, you never know if you're the one that is nowhere, you are on their priority list.

Speaker 1: I suspect we're high on a lot of their priority lists. Uh, but who knows, who knows? This isn't gonna take a lot of money, but I'll tell you, people think that this thing is a go. They just can't imagine things going backwards. So it's been very hard to raise money to pay for this. But I promise you, we can't lose this. It's worth at least a few hundred thousand dollars extra to spend over the next couple months to do this. Imagine, imagine we were a different, a different industry. Imagine we were, you know, the gun industry or the tobacco industry or the industry, the, are you kidding? Allowing money. There would be millions of dollars available. Well, it's time that we step up and defend ourselves because we really, really need it. It's, it's interesting because I had a conversation with Debbie goldsberry when that first kind of inkling came after the election and they started to say, hey, maybe we'll start to come after folks, you know.

Speaker 1: Um, I had a conversation with Debbie goldsberry and she talked about a, you know, raid preparedness, and the wonderful thing about cannabis is how we have so many new players in it. Um, but you know, that the older folks who remember this really being a hard place to be, we need to make sure that folks understand this is not, you know, as easy as it has been, I guess, right? Yeah. You are committing civil disobedience. You who are listening to this Mr or Mrs New entrepreneur or new investor have perhaps unknowingly become an activist and an advocate. Um, and as soon as you recognize that, you hopefully start acting in that way, which means being prepared, developing relationships with the powers that be in donating. There you go. All right, so we'll, we'll leave that, uh, there, that brings us to California, right? And so here we are, and a January first is right down the block.

Speaker 1: How are we doing? You're here on the ground, right? It's going to be a, you know, they're still figuring out, I mean, we're just a few months away. They're still figuring out the, the, you know, what the regulations are even going to be. It's one of the most complicated. I mean, it's definitely the most complicated regulatory structure that has ever been created. Oh sure. Uh, you know, probably for anything ever, not just with cannabis. Well, right, because cannabis has always the most complex thing that we've ever done for any industry. And then now we're going to go ahead and do the in the largest place. Exactly. We're going to make the most complicated thing with the most amount of people. Oh, it's gonna what could go wrong and really, I mean we have to respect the fiefdoms and make sure that we have it on the state level and here's medical and then also adult use and it's going to be very interesting.

Speaker 1: And California doesn't have a phenomenal track record with, uh, you know, being efficient with regulations and government everything else. So, uh, that being said, people love cannabis. This is a very popular product and when there's a will, there's a way, right? And so, um, there are absolutely going to be the biggest fortunes ever made in California, but they will, it will not come without a lot of pain, pain and suffering. I think it's going to be a mess for how long. Like, so you're saying we're not organized enough as we should be right now going into January first. Are we looking at kind of, are we looking at Washington state or are we looking at Oregon? You know what I mean? Well, I can tell you we're not looking at Colorado, right? That's what I know. That's okay, Colorado. Exactly. Was such a smooth transition.

Speaker 1: Here's the task force. Uh, here's everything everyday. Yeah. I don't think that's going to happen here. I do think it's going to take some time. Um, but, but because there's so much desire to have it go right, I think it will work its way out, but it may take a year or two before it really year to a year or two before it really evens out and you're going to have supply problems which is going to cause prices to go through the roof and you're gonna have, there's gonna be a lot like, look what happened in Washington. I mean, hopefully we'll avoid some of those things, but we're gonna it's gonna be very, very interesting. But I do believe that it evens out and that it's worth it for these brands and for these dispensary isn't for these cultivations to um, to, to navigate it because I think the opportunity is, is worth it.

Speaker 1: Once we get through that. Hey, check us out type. Yeah. And I hope I'm wrong. I'm hope I'm wrong, but everybody I talked to that's more in the details than I am a is kind of like, oh, this is gonna be really interesting. But that's the, that's the first mover advantage type stuff, right. You know, the first movers, they don't talk about the first mover disadvantages. That's right. And so there's a lot of people I think that are just sitting back and saying, I don't mind overpaying, I just don't want to deal with all this nonsense. I'll sit back, I'll wait and see who's going to rise above and when everything gets evened out on a regulatory front, then I'll come in. But that's where the opportunity lies for everybody else. The people who are willing to put up with all that uncertainty are going to be able to get better deals, um, because they're willing to take that kind of risk, but kind of stick with it.

Speaker 1: And uh, let's get through these, uh, kind of a growing pains. Yeah. And then we'll be on the other side of it. 10,000,000,000 12 billion. What numbers are you thinking as far as the market size? Just for California, just for California. Oh shoot. Off the top of my head. I didn't have handy, but I think we're me. Let me see if I can remember. I have to look back. I mean, we're the ones that put up the numbers. I should probably know these people. I'm not the researcher. No, I think, uh, I think we're, we're showing a about a $3,000,000,000 market today growing to about a six point $5,000,000,000 market by 20, 21 for adult use and medical, just which is about the size of the whole market right now. The whole North American market now. So, so, so my numbers are, I guess nationwide. Yeah, fair enough.

Speaker 1: Yeah, yeah, yeah. No, we're looking at about 22 point $8 billion in North America by 20, 21. Um, and we'll be revising those numbers in a couple weeks when we come out with our midyear update. So what would be, um, in the way of that and what would make that go higher and faster in other words? Yeah. Well, so the things that are in the way of that is just regulatory nonsense. And then also the way that plays in at the local level, look, all politics is local, particularly in California. Sure. Um, so you're gonna have large swaths of the state that don't have stores, don't have cultivations which is going to be an interesting opportunity for the ones that do. Um, and so, uh, and then just, you know, we have to, whatever happens, it has to be able to compete well with the illicit market, which is, you know, I mean, cannabis is more plentiful than anything out here, right?

Speaker 1: I mean, you can't in northern California, I mean it's like it's own currency and z like, you know, um, so there's um, you know, so there's a little bit of a unique situation that you didn't have in Colorado for example. Right? We have to build supply there, right? Yeah. Here, I mean, cannabis is literally everywhere, right? Uh, and so, you know, shifting those folks over into the legal market and finding, you know, with new rules and everything else and whether they're going to be able to sustain with all the regulations I think is going to be interesting. I think one of the challenges is, is maintaining the way of life that has been sort of generated and the culture. Um, and I think there's some really great attempts to do that, to be able to have cooperative models that are going to be able to have these smaller farmers compete.

Speaker 1: But one thing's for sure, you know, even your favorite microbrew is not made in someone's basement. Right? Okay. It's made in an industrial facility with like, like regulations and testing and all of these things. And so, you know, people are going to need to level up. Yup. Uh, in order to compete in this new market, even at the, what we consider small batch cannabis sure is going to be still much bigger than what we consider that today in northern California. Craft Cannabis, I think is what they call the counter. Uh, you know, and so that's gonna, that's gonna hurt. And now I think on the, on the help side, um, people love cannabis, keep coming back to this. People love cannabis and the new products that are coming out I think really opened up a whole new avenue. And as more and more people are looking for healthier, safer, and easier to consume alternatives to pharmaceuticals, to alcohol, and also a frankly too unpredictable smoked cannabis.

Speaker 1: Right, right. Location access, sensible regulations. Yeah. It just comes down to that. As long as we've got those two things look out. Yeah. Now as far as you say these new products coming and all these kind of new minds a kind of thinking about it, what are we seeing at arcview? What are some of the fun and interesting folks that have presented recently and you know, what's happening here at HQ type of thing? Yeah. Well I think there's some really interesting stuff happening with agricultural technology. Um, no, ag tech was already a big thing before cannabis came on the scene, but I think cannabis has, you know, put a turbo charge on the ag tech sector because if you're working on agricultural technology in any way, shape or form, you want to be working with cannabis because there's no other plant that people fuss over as much as this one.

Speaker 1: And there's no nothing that has this kind of a profit margin. And there's also a nothing where there aren't already so many companies with vested interest in the way that they already do things. It's not already happening at large scale. So they're looking for new solutions with all due respect to tomatoes. Right? Yeah, yeah. In fact, some of these agricultural technology companies claim to be making things for tomatoes and you're like, why would you ever do all that work for it? Tomato, it's clearly for cannabis, but thankfully there are some who are just being honest. That is for cannabis, which is great as well. Um, but I think that's really a powerful area. Um, and I think we're seeing a lot of advancements in various nutrients in my and microbes as well as, you know, barrier various biopharma solutions for a cultivating a in particular ways, which brings me, I guess, let me just take this tangent as far as sun grown versus a greenhouse versus indoor, we are going to be going through testing and we are going to, you know, be talking about, um, all sorts of different things than we used to talk about as far as growing cannabis here in California.

Speaker 1: How much are you seeing the way folks are kind of turning themselves around and into a system that can be regulated, you know, as far as ag tech. I mean, that's part of that, right? Yeah. I mean, I think, I think greenhouse is going to win the day. Sure. Um, because you get the best of both worlds. You have the benefit of the sun, the benefit of the son and the but the benefit of being able to control the environment. Exactly. Um, so I think ultimately that wins the day, but you've got an interesting challenge as well, which is that a, is the interest in other types of products besides flower changes, you know, how and why and where you want to cultivate and what the market is demanding. Uh, and so as more of these derivative products become more popular, which seems to happen everywhere and it's, I think we'll see that happen here as well.

Speaker 1: Um, I mean that changes, that changes a lot of things. And so there's just, there's no market that moves as fast as this one on all levels, whether it be the technology, whether it be the, um, uh, the products that are being developed, and then also the products that people like, how those products are marketed and even figuring out what consumers want and like, and they're changing desires and needs and then you overlay that over regional differences and man, there's a lot of money to be made in understanding those, those, those shifts and finding the little gems in the data that our insights for companies to develop new products or target new new consumers with them. Uh, and so it's, it's fascinating. So, so shifting gears just quickly before I ask you the three final questions for returning guests, which are new, that's a new feature for white try.

Speaker 1: Okay. Got It. Um, we spoke almost directly after the election last year and I wonder if you have continuing thoughts on just general politics and policy outside of our, our cannabis space here. How are you thinking? What are you feeling? What's going on? Oh my God, I can't. I mean, it's like, you know, every time I hit refresh on my browser, I'm worried that I am actually hitting like the nuclear button, yet the new right. You could be declaring war on twitter. Who knows? I know. I'm like, I can't even, I can't even pay attention anymore. It's so bizarre. I mean, you couldn't write this stuff. Well that's the. So that's the key is we have to pay attention. Right. You know what I'm saying? Totally. Um, yeah. I mean, what I try and do. So I think, I think we're all getting pumped. Totally. Okay.

Speaker 1: And every time I see people sort of take the bait. Yep. And start fighting with each other over it. There's a piece of me that says, you know, like some people might look at my news feed and think, Oh wow, he's just, you know, he's not part of the resistance. Right? Or he doesn't care or, or something. And it's not that, it's that I'm just, I know this is not against anybody that's fighting hard. Yeah. Right. Yeah. I, that's needed. Um, but it's also important for people to, to stay a little bit above the fray because if we're all, someone's got to be the designated driver totally right. And so I'm watching this little game play out where someone throws some, some chum in the water and everybody wraps around it and everything and I'm just like, oh, you're playing, you are playing you, you're totally okay.

Speaker 1: And I worry that, you know, we're going to lay down our values, um, and become what we hate [inaudible]. And what do you mean by that? I guess, um, I think that there's a lot of, uh, more polarization occurring then that is going to drive people away from further apart, further apart as opposed to closer. Uh, and so I just want to be an agent for that and I'm still figuring out exactly how to do that, but I'm sure that jumping into the fray is probably not the way. Now I'm also, you know, uh, that's how I am in my day to day life, but I'm also, you know, uh, you know, encouraging people and donating myself heavily to the Electronic Frontier Foundation. And the ACO, you and other groups that are really defending our liberties in this time when there's this like kind of authoritarian swing that's crossing the whole world.

Speaker 1: Yeah. I, I, I take your points. I think as far as my point of view, I read a spectrum of news. It sounds like that's what you're doing too when you say your newsfeed. I read everything from all the way over here to all the way over there to make sure I understand what's going on and what's in people's minds and what's being put into people's minds so that I can kind of make my own, you know, or get my own understanding of actually what reality is. Um, so I think that that's important. And to that end, anytime a, they are pointing out they were having, trying to get you to, you know, disagree with them. That's when you're getting played, right? It doesn't end. That's the whole thing of like we're here, right in Oakland, up up there in Berkeley, you know, pointing a finger and saying they to the other side, whichever side you're on is not the way to go here.

Speaker 1: Let's have a dialogue and as long as you're not actually calling for genocide, then let's talk. Right. You know? Yeah, yeah, absolutely. I think, um, you know, stupid ideas are best allowed to be shared so that we can show them for how stupid they are. Exactly. Don't give them power Bi, you know, uh, closing the door. Yeah. You know, I mean, it's a shame that we have to, you know, uh, defend, uh, that we have like people are crazy. I mean, there's just some crazy ideas out there. Sure. Uh, and so, you know, this is the true test of, of our ability to stand by our values and, um, and be intelligent thinking actual humans, you know. Yeah, yeah, absolutely. And, and it, and, you know, I also recognize that it, that like here we sit here as, as you know, two white guys, I've noticed, uh, and, and it's different if, if, if you're part of a group that is being attacked, um, it's a little harder to be, um, you know, so calm and, and above it all.

Speaker 1: And you know what I mean? Like they're like, look, if someone was attacking me directly, um, I w, you know, might not be so sober, right? But it really does take everybody and that's one, you know, it's one of the ways I can utilize the privilege that I do have for good, is to, is to, is to be you, you know, peaceful about it and try to figure out a way to kind of, uh, to not be reactive and not be reactionary. That's a really good point, you know, but I don't know anybody who is being reactionary. I don't. It's like, you know, a lot of cases. I'm like, I get it, you know, I, I understand. Uh, and there's a place for that for sure. I just, the one video that I saw were trump supporters that bring black lives matter protesters up to the stage and they both actually have a dialogue together and there's a little bit of bullying and there's a little bit of cheering.

Speaker 1: But basically the video ends with a, you know, each side holding the other side's children up for photos. That's what we got to get to, you know, well, well, because hate thrives in abstraction. There you go. If you can abstract people, then you can hate them. Um, it's a lot harder to abstract somebody when they're in front of you and when they're in front of you can see where, hey, you have two eyes like me, you, you, you care in ways I care. Right? And it's, it's, it's, it's, it's, it's, most of the hatred that's existing in the world is a, is existing in the abstraction there actually, I think very few people who, when you really put them face to face with somebody would keep it up, keep it up. And we see that and we see that with, you know, you see that with the cannabis issue.

Speaker 1: You see that with, uh, with gay rights as well, right? The biggest indicator of whether somebody is going to be um, uh, you know, supporting oppression of a group of people is what is their exposure to those direct exposure if they have, if there's someone close to them that holds that identity. Um, and that's why it's so important for, for, for people to come out, right on, on a wide range of issues, on any issue. And I think I, and I predicted, I think the last time I was on this show, I said that there's this crazy sort of iron wall coming down and that cannabis, if this wall had come down any other time in history, cannabis would have been on the left hand. The, on the, on the side of all of the other things that the authoritarianism is coming down on. Um, but I, I look at the cannabis industry and the cannabis movement as like Indiana Jones hat.

Speaker 1: Okay. It is sort of the last sort of liberal concept that got slipped underneath the, the wall that seems to be coming down right now. And I think we made it. I like the other side, like nobody cares at cannabis. The only thing bringing people together right now, 100 percent. But I also think that, you know, we're seeing a level of civic engagement that we just have never seen before and that, um, I think that, that, that, that has an impact. Um, that's the silver lining, the silver lining. Totally. Alright, three final questions for returning guests. What would you change about yourself? If anything? And it might be something you're already working on. What would you change about anything else you might have already just talked about that and then on the soundtrack of your life, one track, one song that's got to be on there.

Speaker 1: That's always the last question. What would you change about yourself? You might already be working on it. Yeah, well, I mean it kind of relates to what I've been talking about, about the, the politics, but there's also the inner politics, right, of what's happening on a day to day basis in your life and. Sure. And just, you know, finding a equanimity, you know, um, and meditating and also just kind of noticing that like life has ups and downs and like dramas come and go, but they're not me. Right? Those are the things that flow through my life and I get to choose how I react to them in that like, you know, not if it can't be done mindfully, it can't, it's not going to get done right. Right, and this idea of like, of, of being that steady force for my team, for this movement, for myself, for my housemates, for, you know, my, my loved ones, you know, there's, there's, um, uh, a real, a real power in that that's easy to forget because life is so good at grabbing you. And so that's something I've been working on and I think I'm making some, some good progress on it. Well, congratulations on the queue. What would you change about it? Anything else? You might already said it, but what would I change about anything else? Um,

Speaker 1: well, the other, what I said before, but we'll, we'll, we'll insert that here, right? Yes. On the soundtrack of your life. One track, one song that's got to be on there. God, I knew you were going to do this to me. I'm a,

Speaker 1: well, you know, the, the song that immediately comes to mind and it's not necessarily because of the content of the song, but it's more of a recognition that I'm a good test for me as to how I'm doing in life is how recently I've Sung. Okay. Because if I'm singing, it means that like my creative spirit, my soul is being, like, kind of tended to, which is easy to in this industry right now. It's easy to forget about those other pieces. And uh, so if I'm singing it's a good thing. And, and one of the songs I've, I've, uh, I just recently discovered that I really love to sing, um, is this one ain't no sunshine when she saw the weather's a know something when she's away, it's new, it's new, it's there. Ain't no sunshine when she goes, Oh, she's, oh, is gone too long and it's, she goes away. The rhythmic stylings of Troy Dayton. Yeah, there we go. So that's it at like Karaoke and whatnot. That song I just been kinda getting into, um, and uh, enjoying singing. And I love that you're the, the, the, the only podcast hosts that asks people to sing. I listened. I got to do what I gotta do. Right. What are some of what? Let's switch. Let's switch gears here. What, who else is on this? Podcasts of all people, a representative perlmutter from Colorado.

Speaker 1: So we'll leave it there. Troy, thank you so much. As always.

Speaker 2: Thank you. So we'll see you take care of. And there you have troy Dayton in what is yet another conversation about the adversarial relationship the current attorney general has with the cannabis industry as import export thrives worldwide. This is going to add up to jobs, not here. Thanks to troy for his time. Thanks to you for your stay tuned.

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Cannabis Economy is a real-time history of legal cannabis. We chronicle how personal and industry histories have combined to provide our current reality.