fbpx

Ep.321: Aaron Justis, Buds & Roses

Cannabis Economy Podcast
Ep.321: Aaron Justis, Buds & Roses

Ep.321: Aaron Justis, Buds & Roses

Aaron Justis returns to share that he feels the rescission of the Cole & Ogden memos will not result in disruption. He notes that giant state government agencies are involved, politicians up and down the state of California had a strong response that they would keep regulating and keep taxing legal cannabis. And of course, other states like Colorado had vociferous responses from the State Attorney General stating that she would defend state legal businesses to Republican Senator Cory Gardner raising his voice from the floor of the US Senate insisting on protecting state legal cannabis despite the fact that he didn’t initially support it. Aaron also notes the fact that ultimately it would come down to jurors convicting state legal cannabis and legal cannabis has overwhelming support.

Transcript:

Speaker 1: Aaron justis returns Aaron Justis returns to share that he feels the rescission of the colon. Ogden memos will not result in disruption. He notes a giant state government agencies are involved. Politicians up and down the state of California had a strong response that they would keep regulating and keep taxing legal cannabis, and of course other states like Colorado had most sephoras responses from the state attorney general stating that you would defend state legal businesses to Republican Senator Cory Gardner raising his voice from the floor of the U, s Senate insisting on protecting state legal cannabis, despite the fact that he didn't initially support it. Aaron also notes the fact that ultimately it would come down to jurors convicting state legal cannabis and legal cannabis has overwhelming support. Welcome to cannabis economy. I'm your host Seth Adler. Check us out on social with the handle can economy. That's two ends in the word economy. Aaron Justis.

Speaker 3: Yeah. Must've been such an odd day. It was inspiring to them to write about, to write about, so it's an odd day for them. For me. I just left my car in a lift. You left your car in a lift. That's terrible. Yeah, mean your phone. Yeah. It's an odd day. I'm so off, I'm so off my game. It's crazy. Know it is legal to use cannabis. I think you need to get high. So I think that's what, I guess I didn't want any uh, regulate a little bit. Yeah. I don't want to jump in right away, but I guess she, you, I, I could, I don't have a medical card. So you don't need one anymore? No, but I do for you guys. You're not doing adult use? We are not yet. Is that correct? Alright. So give us the. Because we're in La. Yes. And by the way, I think we'd be celebrating. Everyone's always asking. Oh man, how do you like adult use? You guys are really busy. Yeah. Yeah. Well I don't know yet because why? So the city of Los Angeles got a little behind, right? They are a big city. So um, we'll give them that the biggest city regulate cannabis.

Speaker 4: Sure. And

Speaker 3: you have to have the ensuing capital of cannabis wide. Right?

Speaker 4: Working at, you know, we're, we're getting there for sure. Exactly. And the city got a little behind and you cannot get a state license to do adult use sales until you get a temporary permit from the state, of course, in order to apply for that. Right. A local permit. And the city of La has not issued those.

Speaker 3: Oh my goodness. Lori Ajax did the whole tour and everything. She did and still we, we waited.

Speaker 4: She's a, she wants us to hurry up and get it together, which we're trying to do. And by that the city we mean yes, she wants the city and for everyone in La to apply and get into the system. Come on now. Yes. And we um, so la did start the process last week. Uh, we were one of the first to apply good. And the word is that as soon as today they may have started issuing approvals, but I did not hear of anyone getting an approval and I did not hear back.

Speaker 3: Okay. And so since you mentioned today podcast land knows no time, but I will say that it's January eighth. And the reason that will say it's January, if not only has to do with the fact that you just mentioned today in relation to La licenses. We also want to talk about all, what was the other thing? Oh yeah. The sessions memo, which is now what we call it. That guy, that three, the three paragraphs of fun. Yeah. Have you, uh, have you read and reread it yet or. Yeah.

Speaker 4: Yeah. Um, it's definitely, he's definitely out of touch with the voters. I believe with the polls that, that we've seen, you know, 60 percent of voters supporting legalization and sure, almost 100 percent, which is unheard of supporting medical regulations for. And uh, I just, I, I hope it was a rogue thing that he did. Um, I do hope that, uh, our current president sticks to what he said and does not go after our industry. And uh, I do think he wants to be reelected and there are a, the cannabis voters, there's a lot of them now. So I'm, I'm staying positive and thinking we can handle this.

Speaker 1: Aaron justis returns Aaron Justis returns to share that he feels the rescission of the colon. Ogden memos will not result in disruption. He notes a giant state government agencies are involved. Politicians up and down the state of California had a strong response that they would keep regulating and keep taxing legal cannabis, and of course other states like Colorado had most sephoras responses from the state attorney general stating that you would defend state legal businesses to Republican Senator Cory Gardner raising his voice from the floor of the U, s Senate insisting on protecting state legal cannabis, despite the fact that he didn't initially support it. Aaron also notes the fact that ultimately it would come down to jurors convicting state legal cannabis and legal cannabis has overwhelming support. Welcome to cannabis economy. I'm your host Seth Adler. Check us out on social with the handle can economy. That's two ends in the word economy. Aaron Justis.

Speaker 3: Yeah. Must've been such an odd day. It was inspiring to them to write about, to write about, so it's an odd day for them. For me. I just left my car in a lift. You left your car in a lift. That's terrible. Yeah, mean your phone. Yeah. It's an odd day. I'm so off, I'm so off my game. It's crazy. Know it is legal to use cannabis. I think you need to get high. So I think that's what, I guess I didn't want any uh, regulate a little bit. Yeah. I don't want to jump in right away, but I guess she, you, I, I could, I don't have a medical card. So you don't need one anymore? No, but I do for you guys. You're not doing adult use? We are not yet. Is that correct? Alright. So give us the. Because we're in La. Yes. And by the way, I think we'd be celebrating. Everyone's always asking. Oh man, how do you like adult use? You guys are really busy. Yeah. Yeah. Well I don't know yet because why? So the city of Los Angeles got a little behind, right? They are a big city. So um, we'll give them that the biggest city regulate cannabis.

Speaker 4: Sure. And

Speaker 3: you have to have the ensuing capital of cannabis wide. Right?

Speaker 4: Working at, you know, we're, we're getting there for sure. Exactly. And the city got a little behind and you cannot get a state license to do adult use sales until you get a temporary permit from the state, of course, in order to apply for that. Right. A local permit. And the city of La has not issued those.

Speaker 3: Oh my goodness. Lori Ajax did the whole tour and everything. She did and still we, we waited.

Speaker 4: She's a, she wants us to hurry up and get it together, which we're trying to do. And by that the city we mean yes, she wants the city and for everyone in La to apply and get into the system. Come on now. Yes. And we um, so la did start the process last week. Uh, we were one of the first to apply good. And the word is that as soon as today they may have started issuing approvals, but I did not hear of anyone getting an approval and I did not hear back.

Speaker 3: Okay. And so since you mentioned today podcast land knows no time, but I will say that it's January eighth. And the reason that will say it's January, if not only has to do with the fact that you just mentioned today in relation to La licenses. We also want to talk about all, what was the other thing? Oh yeah. The sessions memo, which is now what we call it. That guy, that three, the three paragraphs of fun. Yeah. Have you, uh, have you read and reread it yet or. Yeah.

Speaker 4: Yeah. Um, it's definitely, he's definitely out of touch with the voters. I believe with the polls that, that we've seen, you know, 60 percent of voters supporting legalization and sure, almost 100 percent, which is unheard of supporting medical regulations for. And uh, I just, I, I hope it was a rogue thing that he did. Um, I do hope that, uh, our current president sticks to what he said and does not go after our industry. And uh, I do think he wants to be reelected and there are a, the cannabis voters, there's a lot of them now. So I'm, I'm staying positive and thinking we can handle this.

Speaker 3: So you're, I know that I'm talking to, I've been on the phone a lot, right? And so it depends on how long you've been in the cannabis industry, you know, as far as what your reaction is, you being the person on the other end, the line. So if you've been in the industry for kind of 10 years, kind of like, you know, and Aaron Justice, we've seen everything right? And we were definitely operating in some sort of gray and we are absolutely welcoming this black and white situation. So when we get a memo, I mean we were operating, you know, you remember the Ogden memo in 2009. So we were doing this before there were coal memos. So if you're telling me there's a new memo, whoop Di Damn do is right.

Speaker 4: Pretty much. I mean, I think that we're stronger than ever. We have tons of, uh, politicians and states that are in this new system that support this. And,

Speaker 3: and basically, hold on one second. Yeah. Oh, here's your phone. Oh my God, look at that. Holy Cow. Look at me three times. Mr. Calls I, that's a real reaction that I will listen to and see if it's a, you know, thank you so much. Oh my God. Look at that. Holy Wow. See, cannabis is not the only thing that relieves stress, I guess. Exactly. Right. Getting your phone back to the buds and roses. We get that. Getting your phone back feeling. Maybe that's our new tagline. That's not bad. Actually. That is not bad if you've lost your phone man. Yeah. No, it's a good one. That's not a good feeling. And it's also because I have to go on to a different plane, like a number of hours. Right? So thank goodness that's over. All right. Now you get back. Oh, jeff session. So,

Speaker 4: so I think that hopefully what this will do is put pressure on Congress and politicians to pass more sensible a reform and get this, get them totally defunded the dea against medical and adult use and

Speaker 3: because that would be great. This is a little motivation. I hear you go and you're talking about Rohrabacher Blumenauer for medical and then you know what, what else can we do? Now you're a guy, you're an activist, right? You're an operator, you're an activist, you're a, you know, from Chicago and there, these were a couple of things that are true about you. These are all right, but how confident are you in that actually happening? Because yes, that is what we're up to. We're up to Congress and nothing else and that's all that there is. Yeah. Is that, is there going to, is anything gonna Happen? Well,

Speaker 4: I, I liked to. I think it could. I mean they, we defunded medical, uh, enforcement against medical cannabis multiple times. Sure. And I think that defunding for medical and adult use is very possible to happen and yeah, I think we'll move forward and of course I have to say, especially with California on board, I mean there's so many gigantic government agencies involved, politicians up and down this state. If you saw the response from California to the sessions, a letter was pretty strong saying we're going to keep doing what we're doing here. We're going to keep regulating taxing and, and, and this is what other states said too. So I just think the more states, the more politicians on board, the more likely it is to get accomplished.

Speaker 3: Having said that, now you are an operator here in la who has a new attorney? I a federal attorney in northern, well northern California and also southern. So Central California. Nicola Hattie or like that. I, I'll

Speaker 4: look up her name again, but she started like yesterday or something. Yeah, I still think, I mean then you know, what it really comes down to also as jurors convicting. So you know, I don't want to be the guy that the federal government comes after and I have to defend it. So it's easy to say not that big of a deal unless it happens to you, but I think that overall, I mean the jurors, the people they would pick, the people of California have spoke and there it's pretty unlikely they're going to go against, I'm a cannabis operator and convict for cannabis. I mean massive grows are now basically a misdemeanor in this state, so. Right. I gotcha. Okay. And so what you're saying is, sure, we even if someone was to get rated, let's follow that all the way through. Yeah. I don't see a conviction on the other end.

Speaker 4: Yeah. I don't cause because we, the people essential. Sure. Yeah. And I also see, um, just the cannabis industry is so strong and so well funded now we would fight back for anyone that they tried to come after, especially someone in this newly legally regulated system we would fight. But what do you mean? Because I always hear complaints about how ballot measures weren't funded as well as they could have been and this and that, I'm sure. Right. Well for example, like what happened in Oakland with harborside when I'm harbor side was under attack by the federal government. The city of Oakland sued the federal government and you know, basically like, Hey, this is our number two taxpayer in the city. Uh, you know, you don't go after them. And I think you would see, I think you would see that kind of backlash. Got It.

Speaker 4: He even here in La. Yeah. Because mainly in La. And you've been, how many hours do you think that you've been in town halls and such, right over the past however many years. A lot. And I, I can say though, I always did have a sense that the city of La, and I think I've said this on previous interviews with you, that they would eventually regulate when, when they had a system from the state to do so it was just a huge challenge for them to deal with, with all the other challenges in the city from homelessness, education, all these massive problems. And um, and they're, they're doing just that. So the city was very involved with the industry for a year and a half. They're putting out very sensible regulations and uh, and they're all on board. All our city council members, um, you know, president, mayor, everybody. So they fully support it and they don't want to go backwards.

Speaker 4: Okay. And you did say just now, so very sensible regulations now, does that mean that you love all the regulations or that you're fine with them? Well, the city, the city doesn't go too far beyond what the state wants anyway. So the state regulations are really intense, but they're trying to appease the federal government who said strictly regulated and that was by the way in the Cole memo. So yeah, so we don't have to worry about that. Who knows now. Uh, and, and I think overall the regulations, especially by the city from what they base their regulations on from the state, uh, we're, we're very sensible and they seem to want to grow the industry and support the industry and there's not like a bad caps on production or, or dispensary's, um, they may cap dispensary's at one for every 10,000 people, so maybe a 400, but we're a long ways from licensing all those and they're talking about hundreds of manufacturing and cultivation licenses.

Speaker 4: So, and here we have a social equity program as well to, to, um, help the neighborhoods most affected by the war on drugs here in Los Angeles. And so they're really focused on getting regulated dispensaries in those neighborhoods to collect taxes and to help those businesses grow and thrive, which I think is really exciting too. Yeah, absolutely. Rejuvenating actually have the industry go ahead and rejuvenate the communities that have been disproportionately affected by the drugs and all. And also, I mean having, just like in those neighborhoods, it's hard to get high, high quality produce. I'm just imagine what cbd can do in, in neighborhoods like that where there's just really a ton of PTSD, a ton of you know, issues and if more people can get medicated safely with cannabis there too, that's, that's another big plus. His sides, the jobs and the revenue and, and all that.

Speaker 4: Huge. Alright. So those are all the positives and you know, we, we went at this together as a state and an industry and kind of almost everybody was on board, which is no different than than other times, but just take me through distribution and you know, what your thoughts are on it and where we landed and what you love and what you. Yeah. The one thing here is we don't have the big argument too much with the farm situation. Small farmers, big farmers because or mostly all indoor farmers here. So um, everybody's about this in the same situation. Um, you know, of course the worst thing about it is just the cost of everything, the prices on normal products. I mean we have a very popular product that sells for 20, $21 that is now going to be $33 for the customer. Big Difference. Yeah.

Speaker 4: And it's like the taxes have gone up roughly 140 percent just for the taxes, but then there's taxes beyond behind that that are also expensive. So the products themselves cost more than there's these transport fees. Um, then you have this excise tax. So it's just all the prices are going up and that's probably the, the saddest part about it. But I'm hoping that again, those level off, I'm sure with more production and, and regulations in place, a more black and white system. Sure. So, okay, fine. Hopefully they level off, but they will spike, you know, uh, we saw in Washington state how, and we still see in Washington state how it's in the black market has been let back in the back door. Sure are, you know, um, how are we speaking to that with that one of going from, you know, well, one thing that's interesting, maybe maybe it wasn't like this other places, but since our industry's been around so long before, like pre regulation that there's already some really good companies out there, have a good handful of like edible makers and processors and vape cartridges and those companies used to be able to sell to everybody in the state.

Speaker 4: So it was hard to compete when the guy down the street who's illegal has the same reputable product is we do. Um, but as of a week or so ago, January for all these companies that are awesome, just cut everyone off that doesn't have a state temp license. Perfect. So I think that, um, that will, people want to continue to get those good quality products and they'll shop for them. Totally. So I think that'll help. And that is, I mean, I, you and I both have always said it has to be regulated. We need to have a legitimate industry. And so if you want to be in the industry, please come in the right way. Come in through the front door please, please, please do. But if you refuse to do that, then it's okay that you're not in business anymore. Yeah. You know? Yeah. If you, if you knowingly refused to play by the rules.

Speaker 4: Sure. And I think there's people right now that are caught kind of outside of the rules, I would say mainly cultivation growers and maybe concentrate manufacturers. A lot of the edible companies are already kind of packaged well and the, and they have licenses, but a lot of the growers do not. And is that a licensing thing through, uh, the state or what's that? That's the thing is when you're a manufacturer of edibles, a lot of these companies have already realized they need to go to northern California to kind of be safe where it's just not as easy for a grower to do that. But there's so much product in northern California to make your edibles and things like that. It's just people. Those companies have moved to safe havens. Growers are like all over the state got, um, all throughout the state and just a lot of them where they live, there's not cultivation licenses available.

Speaker 4: So you're saying actually outside of the Emerald Triangle, those cultivators? Yes, yes. Yeah. Like indoor cultivators and things like that. And they, they basically have to now either partner with someone, which I think they do have the potential. Some of them have built pretty good brands or get a license on their own, so I think they might go away for a while, but if they're really good and serious about it, they'll be back in the system hopefully by the end of the year. Yeah, it's possible. It, it, uh, we all know that, uh, to grow cannabis well is difficult. Yeah. So if you know how to grow cannabis well and you

Speaker 3: currently don't have a license, just keep making phone calls. Yes, exactly. Because

Speaker 4: a lot of, a lot of deals are going, a lot of people are probably going to partner with cultivators and then in six months or so they'll, they'll be in a big fight and that relationship will be over.

Speaker 3: Wait, I thought we were going to. Well, the thing, is that right?

Speaker 4: Yeah. You know, I'm just like a lot of businesses, but if you have a cultivator, it's, it's most of the time that cultivator, because they're working with the plant, they're kind of the master gardener that they're going to need to partner with someone who can run the business and focus on that and not focus on the farming aspect. And a lot of times there are really shotgun marriages for these people to come together and learn how to work together. Totally. And uh, in, a lot of times they end up not working out and with cultivation it's like everything is over promised. And then when it comes down to it, it's like powdery mildew, spider mites. And then it's just problem after problem after problem and it Kinda just takes awhile to. A lot of those relationships go bad.

Speaker 3: I see. But if you're growing cannabis and you don't have mildew, it sounds easy. But my whole point is, if you're actually good at it, that's the whole thing we want is best in the brightest and the answer. I mean, that's what we're saying. That's right. Yeah. That's all. Please do. Good work, please. Please. That's it. Alright, so, so what if you're talking though to somebody that has a dispensary, uh, you know, either in California or otherwise or has a, you know, is a cultivator or isn't manufacturer or you know, is in the industry and has only been in the industry for the past couple, few years, does not, has not ever had to deal with the prospect of getting rated in a real way. Um, what would your advice be to those folks? You know, Aaron says, yeah, we'll be fine. I've got a great relationship with my city. You should have a great relationship with yours. That's the first thing. But like, what should, should they be running raid preparedness drills? Should they be?

Speaker 4: Sure, yeah, we, um, we just, we're working with a former sheriff of a big county who is training us right now, not only on the typical things you would think for armed robbery, but also in today's society and active shooting. Um, so we're doing all kinds of different trainings, um, with this, uh, former sheriff. And I think that that's a good thing for everybody to do also comes with that is raid training, but I, you know, it depends where you're located because really you should not have a real fear of being rated. Um, if you're, if you're a regulated dispensary almost anywhere.

Speaker 3: Well, your adult, this is my point here. Yeah. So we've got Rohrabacher Blumenauer, let's just say that it gets through all these budget votes and whatever, but now without the coal memos, adult use doesn't have anything.

Speaker 4: Yeah. Well I think that I think that if you're going, you need to do these trainings anyway and you might as well do some kind of raid training along with that. But I think really what it comes down to two is just following the regulations, at least in the state of California because the fines are so high, like their six figure fines. And so you want to operate in complete compliance with everything told them. And that's also how you will avoid getting rated as well. I see what you're saying. Okay. So what you're saying is compliant. If you're, if you're

Speaker 3: compliant 100 percent buttoned up all the way to the top, you're perfect. Yeah. Statewise yes. And then they come in federally. Sure. Good luck. Good luck at the in court

Speaker 4: type of thing. Yeah, I mean the, well again, and that's why I have some kind of re training because there's basic things that when you deal with the police that a lot of people you're hiring now may not, like you said, never experienced being rated or arrested for cannabis, but you know, if you've been around for a long time, you know, the best way not to go to jail is to not talk to the police. So you definitely want to train your employees that you have the right to remain silent. Do that, use the, um, we have that right. And you should have a lawyer. You should let them know who your lawyer is, just to make them feel more comfortable. But you also, um, you can also scare people like that as well. So you really got to take your own situation and kind of mold it to that because some employees will be like, oh my God, we're going to get rated. You're like, no, just in case and there, what do you mean? Just in case and you know, it's still federally illegal. Oh, well have people been getting rated right? You're like, no, but. And then it just Kinda goes down a rabbit hole.

Speaker 3: I love. And this is the whole point about running a cannabis business because at the front end we're talking about being raided by the federal government on the backend. You're talking about managing employees. Well, exactly.

Speaker 4: That's the world we live in, like it's still on the same regular business stuff with all the extra, the extra drawn on top of it.

Speaker 3: So I just, I knew that you would not, I knew that you would be totally cool about this whole sessions thing with the resending of them. I knew it, one of the, you know what I mean? I could feel it before I even asked you a question. Um, can you though, please repeat that? It's because you know, and you have been on the other side and you have, you know, you are prepared for rain, can you, for our colleagues that are not so well trained in what this cannabis industry is.

Speaker 4: Well, we've just had such. We've had, we've lived through so much more unfriendly times. That means then this Bush era, right? Um, and it's just, we just see, I feel like we're so far away from that and I've weep, you know, letters came through Los Angeles a few years ago to every single landlord saying that the feds were going to come after us and they just, they never did. And it just, um,

Speaker 3: that's under Obama. Yeah, correct. Correct. Yeah. And it's just, it,

Speaker 4: it, uh, there's no change in policy either with that they were sending a memo, but basically the new memo says the same thing and what it really comes in if you read into it, it also says those that are affecting the community the worst, which, which really means that that's based on a local level of enforcement. And I, and I just think when it comes down to the local level, if you're regulated, you're in line, you're not going to be a target of them. And they are, you know, currently defunded as well for,

Speaker 3: for Matt after medical, totally understood on all of those points. It's just then, then you add in that there are new attorneys, uh, in both sides ever just going. Yeah. It just, it's like, sure, that's the other side of that coin. But. And that's the wait and see. Sure. Yeah. That's the.

Speaker 4: Yeah. Well, and then the other end, it's also, it's experienced. So we had a very unfriendly a US attorney that again, when after harbor side back in in 2011 and they just, they failed to win. And I just think that there's enough people that will fight the industry stronger than ever. Public opinion is on our side. And it just seems like. And I, and I also just, our current president, I think he wants to get reelected. He's been, he himself hasn't said much about the issue except that he would leave states alone. And uh, he also, him and jeff sessions are on the outs with the, it doesn't seem like they like each other, that trump's very happy with him. The, the.

Speaker 3: Yeah. But then the problem with, uh, what you just said is that it could be a flip side, but what, what, what's the flip side? Well, that, um, he, that sessions could go rogue and kind of do what he wants in his face type of thing. Sure. But I don't see that. I understand that we're in studio city, Los Angeles, California, but you realize that we're talking about I'm running the US government as though it's a reality show. You just said, well, you know, he's on the outs with him and so who knows what he. And then just to get back and it's like literally a reality show. Well, it's, it's the truth. And um, I'd like to know where Oprah stance on legalization actually, because did you find a candidate last night? What's happening? I think so, but I'm not sure. But I think so we're going to need. We're laughing about it now, but. Exactly. That's exactly. You get a dispensary, get a dispensary, anything's possible, right? Yes. Alright. So here we are back and it's the same thing as it always was. Yeah. Be in compliance as much as you possibly can. Be prepared to be rated, make sure everybody knows what to do and I'll see you tomorrow when we're going to do the same thing again over and over. Right? I mean this is basically what you're saying. Yeah. And,

Speaker 4: and you know, the, the memo, it wasn't great what sessions did, but I'd say what it affected the most is made investors nervous. Um, I think that, so there's probably a lot of investors who are, who are, I'm backing out. And then the other thing it seems as a states that are thinking about moving forward with policy, it may slow them down totally. And I think that's really the big bummer. But as far as like a shift in policy, we didn't see that it was just kind of a change in a memo. I gotcha. So what about banks? Have you heard anything from any of your friends about banks? Well, is the light of the memo? Uh, well, not in light of the memo because I'm in California, they're in Colorado, I think they have a bank that's banking the industry and there's a few of those in La. It's kind of just random.

Speaker 4: There's, well, there are there, I uh, I dare say this, but there are names in Colorado. I've got actual names. Yeah. I don't know if it's the same way here because we don't really talk about this, do we? Yeah, there's, there's not. No, it's, it's more like on an individual bank, I guess. So many banks you can say. And, and um, the good thing is what I like is that the city of Los Angeles is trying to start a bank and a big part of the whole bank is for cannabis and they were on a three council members, including our city council president, Herb Wesson, who's a great, who's doing a great job at, at this, um, was they were all pushing the La Cannabis Bank or the La Bank to bank called the cannabis money love. So the city of La, there's, there's a motion on the floor and they really want to get this bank going.

Speaker 4: So lovely. I love that idea. It's really exciting. They want their money, they want their tax money. Why not? I mean, why not? Absolutely. Yeah. Well, and they, they don't want the crime, they don't want the problems associated with it. So yeah, they're trying to work it out. So we'll see. We'll see how it goes on. Yeah. I just, it's amazing to me. You guys have so much intestinal fortitude. I'm serious. When I speak to Debbie Goldsberry, she's like, yeah, well, you know, whatever. Debbie is great. Yeah. And it's because you guys just know, you know, and I, I'm only in the industry for five years. Right. And so I don't know because it's been, it's been basically positive since I've been in. Sure. So. And you're like, yeah, well just be prepared. That's all. Yeah. I, I think, you know, people still say to me, do you, do you think it's going to be federally legal?

Speaker 4: Do you think it's going to happen soon? And um, you know, and I'm just 100 percent sure it will be in fairly soon and um, with no name attached to that four or five years, but then maybe you know, and then people say, are you sure? But with sessions, but in my head there's no chance of this industry going backwards on the shares. That is 20 years ago when I said cannabis would be legal one day that people are like, no, never, everybody'd be high at work and on this, they already are. And, and so yeah, I'm sure it's where we're on a progressive path in the right direction. You're hearkening back to when you're running around the normal. That's right. That's right here. Whatever. Right. You know. Yup. Alright. So you're saying it's better today than it was then even with this memo, it just keeps getting, gaining so much strength.

Speaker 4: Yeah. Alright. So I've got three final questions for returning guests. Are you ready for this? I'll tell you what they are and then I'll ask you them in order. What would you change about yourself? If anything? And this might be something you're already working on. What would you change about anything else if you could? And you can bend the space time continuum. You're omniscient and the whole bit. Uh, and then the third question is always the final question, which is on the soundtrack of your life. One track, one song I forgot. Yeah. But first things first myself. Yeah. What would you change about yourself, if anything might be something you're already working on? It is. I'm basically in and I think a lot of cannabis operators are the same, that to be in this business in the beginning, just like all small businesses, you have to be really, um, tactical and you have to be able to adjust and move and change to whatever happens.

Speaker 4: And I'm just go through it and see it through when things start to calm down a little bit and then you have to be more strategic. And I'm good at being tactical, but I'm trying to be more strategic, be more organized, plan things more where in the beginning, especially this industry, it was just react, react, react. And if you. And if you can stomach it and if you don't go to jail and if you're okay with it, then you can persevere. But now it's like you got to plan, organize and strategize, which is kind of further to your point about this whole in this whole interview is just, you know. Yeah. No, I'm up to strategy. We're beyond tactic it. Yes. Yes. What would you change about it? Anything else if you could? Well, I mean it's kind of a, um, maybe the, the answer you would think or Cliche, but like end the war on drugs. I mean, I would like to stop arresting people based on the substance they use. To me it is so minority report. It's like we're arresting them because pun intended by the way. Yeah, yeah, yeah, yeah, exactly. Yeah. And it. And it's that because it's like you're arresting people because when people start using drugs, then they start stealing and doing bad things. Okay. Well, arrest them when they start stealing about that. Why don't you arrest crime?

Speaker 4: Because that's what it really is. Yeah. Because it's, it's, um, it's not using drugs to party and have fun. Is Not more dangerous than a ton of things people do to party and have fun. And that could be rock climbing. I mean, a lot of stuff is dangerous. People die and you know, so I would, I would end the war on drugs. Um, I, I, I

Speaker 3: do want to note that informed the Warren. I hear Ya. If, if folks do have an issue with your point of view on rock climbing because you did come out and tie rock climbing, rock climbing is awesome. I'm just saying some people die doing it and you don't have to do it by the way, you know, how many people still to this day, uh, unless we'll check the news. But uh, how many have died because of cannabis? I think that number is zero. Zero. Zero Cannabis. Safer than rock climbing. Sorry. True Story. All right, so on the soundtrack a might be one that you have given us, but who remembers? Um, I'm listening to the new M and m album and I think it's really good. Yeah. And I, uh, I read the lyrics. What song did I read the lyrics to off this new album? It says something about a pull yourself up. Pull yourself up from your bootstraps. Yeah, but we're the boots. Oh yeah. Yeah. That's one of the songs. I like that. Yeah, it's the song about, you know, just racial discrimination. It's a great song. The lyrics are amazing. Oh, he's, he's so good. I love it. I'm a lot of albums. Good. Um, I would say, I think it's called believe. Okay. Um, let's, let's go with that song. Yeah, let's do that. We, we agree. All right. We good? We believe. All right, good. Aaron Justis. I keep doing the thing.

Speaker 1: Thank you, Sam. And there you have Aaron Justis. It made investors nervous. There's probably a lot of investors who are backing out. And the other thing that affected was states that are thinking of moving forward with policy. It may slow them down. So very much appreciate Aaron, his time, his thoughts very much appreciate you and your time. Stay tuned.

Read the full transcript:

Become a member to access to webinars, quarterly reports, contributor columns, shows, excerpts, and complete podcast transcripts

Become a Member

Already a member? Login here.

Subscribe now to get every episode.

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