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Ep. 372: Bruce Linton, Canopy Growth

Cannabis Economy Podcast
Ep. 372: Bruce Linton, Canopy Growth

Ep. 372: Bruce Linton, Canopy Growth

Bruce Linton shares his thoughts on destigmatizing Cannabis from a medical perspective: “I would suggest that the doctors of yesteryear, who were living with the product in their presence might have a more valid perspective on its potential usefulness than the people who have been governing medicine in the absence of cannabis, who don’t want to know. I find that they may be one of the last holdouts, but they’re going to be unsuccessful when the evidence presents them with an argument that says, “You’re wrong.”

Transcript:

Bruce Linton, thank you for having me here to Canopy Growth. You are all natted up in your tweed paraphernalia, aren't you?

Bruce Linton: Yeah, it's on brand today is tweed. The party says it started, and tweed is the party. So there's no ... tomorrow may be a Canopy Growth Day, the day after might be Spectrum Medical Research, but today is the Tweed Day.

Seth Adler: Ready, set, go rec, I think?

Bruce Linton: Yeah, aha. I've never heard that one. That's actually quite good.

Seth Adler: I think it's on your T-shirt?

Bruce Linton: Is it? I didn't see that. Is it on my back? Mine says tweed on the front. Ready, set, go rec. You know, we have people that are awesome at that stuff. Our IT department came up with one, and it says, and you know how we like the brand that's HI, H-I?

Seth Adler: Yes.

Bruce Linton: They call themselves hi.t. Hi-T, as if you're saying IT, Hi-T.

Seth Adler: Yeah, I gotcha. Yeah.

Bruce Linton: They thought they were hilarious. They gave everybody a shirt.

Seth Adler: You know, you have the sign, The HI, we get it, but then because we're so close to Quebec, you also have Bonjour right next to [crosstalk 00:01:56]-

Bruce Linton: Yes.

Seth Adler: But there's not the word play there, is there?

Bruce Linton: Some things get lost in translation, for sure. But you know what? This is a country where if you don't put it in both languages, you're going to piss somebody off.

Seth Adler: Absolutely.

Bruce Linton: So your choice is to be funny in two languages, not possible, or be in trouble in one.

Seth Adler: So why not make sure we're not in trouble.

Bruce Linton: Yeah, exactly.

Seth Adler: I don't think that you're in trouble, right? How are things going here, Bruce?

Bruce Linton: Things have been ... it's not really a day. It's been a little while since [Trudo 00:02:21] got elected, and it was a little while since Harper, our former leader, started this.

Seth Adler: Right.

Bruce Linton: It was a long time [crosstalk 00:02:28] MMAR-

Seth Adler: Yeah.

Bruce Linton: And then it was like ... so it was like kind of a 17 year drum roll.

Seth Adler: Sure, if you count everything. Absolutely.

Bruce Linton: Right. In a sense it's almost like you do want a canopy because it's like a relay race. What we had to run, the leg we ran, which was the last six years, is to raise and spend about a billion and a half dollars, create a substantial platform to supply the party, so that the party doesn't turn into a [inaudible 00:02:54] party.

Seth Adler: What do you mean by that?

Bruce Linton: We have a warehouse that has a lot of product in it. We didn't send it all out, because we didn't know who needed what, where, when. Now, we know everybody wants more now. So we will deal with that, but it's been sort of a build up to that.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: Today was neat because today started at midnight.

Seth Adler: Yeah.

Bruce Linton: And where I was, on the east coast at midnight, I was paying attention to how the monitors were working, and as the receipt machine feeding, and all those nitty gritty bits, because you wanted the first transaction to go perfect.

Seth Adler: Right. And this is in St. John?

Bruce Linton: In St. John [inaudible 00:03:32]. But then when the room got energetic, there was a countdown, the sale herd had happened. Then a lot of people cried. I didn't think about the people crying. I didn't expect it. They cried because for a whole bunch of people who got there, this was like-

Seth Adler: Transformative.

Bruce Linton: It was taking a burden off their shoulders.

Bruce Linton, thank you for having me here to Canopy Growth. You are all natted up in your tweed paraphernalia, aren't you?

Bruce Linton: Yeah, it's on brand today is tweed. The party says it started, and tweed is the party. So there's no ... tomorrow may be a Canopy Growth Day, the day after might be Spectrum Medical Research, but today is the Tweed Day.

Seth Adler: Ready, set, go rec, I think?

Bruce Linton: Yeah, aha. I've never heard that one. That's actually quite good.

Seth Adler: I think it's on your T-shirt?

Bruce Linton: Is it? I didn't see that. Is it on my back? Mine says tweed on the front. Ready, set, go rec. You know, we have people that are awesome at that stuff. Our IT department came up with one, and it says, and you know how we like the brand that's HI, H-I?

Seth Adler: Yes.

Bruce Linton: They call themselves hi.t. Hi-T, as if you're saying IT, Hi-T.

Seth Adler: Yeah, I gotcha. Yeah.

Bruce Linton: They thought they were hilarious. They gave everybody a shirt.

Seth Adler: You know, you have the sign, The HI, we get it, but then because we're so close to Quebec, you also have Bonjour right next to [crosstalk 00:01:56]-

Bruce Linton: Yes.

Seth Adler: But there's not the word play there, is there?

Bruce Linton: Some things get lost in translation, for sure. But you know what? This is a country where if you don't put it in both languages, you're going to piss somebody off.

Seth Adler: Absolutely.

Bruce Linton: So your choice is to be funny in two languages, not possible, or be in trouble in one.

Seth Adler: So why not make sure we're not in trouble.

Bruce Linton: Yeah, exactly.

Seth Adler: I don't think that you're in trouble, right? How are things going here, Bruce?

Bruce Linton: Things have been ... it's not really a day. It's been a little while since [Trudo 00:02:21] got elected, and it was a little while since Harper, our former leader, started this.

Seth Adler: Right.

Bruce Linton: It was a long time [crosstalk 00:02:28] MMAR-

Seth Adler: Yeah.

Bruce Linton: And then it was like ... so it was like kind of a 17 year drum roll.

Seth Adler: Sure, if you count everything. Absolutely.

Bruce Linton: Right. In a sense it's almost like you do want a canopy because it's like a relay race. What we had to run, the leg we ran, which was the last six years, is to raise and spend about a billion and a half dollars, create a substantial platform to supply the party, so that the party doesn't turn into a [inaudible 00:02:54] party.

Seth Adler: What do you mean by that?

Bruce Linton: We have a warehouse that has a lot of product in it. We didn't send it all out, because we didn't know who needed what, where, when. Now, we know everybody wants more now. So we will deal with that, but it's been sort of a build up to that.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: Today was neat because today started at midnight.

Seth Adler: Yeah.

Bruce Linton: And where I was, on the east coast at midnight, I was paying attention to how the monitors were working, and as the receipt machine feeding, and all those nitty gritty bits, because you wanted the first transaction to go perfect.

Seth Adler: Right. And this is in St. John?

Bruce Linton: In St. John [inaudible 00:03:32]. But then when the room got energetic, there was a countdown, the sale herd had happened. Then a lot of people cried. I didn't think about the people crying. I didn't expect it. They cried because for a whole bunch of people who got there, this was like-

Seth Adler: Transformative.

Bruce Linton: It was taking a burden off their shoulders.

Seth Adler: Yeah.

Bruce Linton: It was whether or not their parents dish their whole choices, whether or not they had a record, but there were a lot of people that this ... it changed how they saw themselves. It really affected them, and that kind of affected me because I was caught off guard.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: So that was kind of the big surprise and the positive of the whole thing, was how much it mattered to those people.

Seth Adler: Out of the shadows, into the light, for the consumer themselves.

Bruce Linton: Yeah, and then we already had one person today who said, "My mom, who is 70-something years old, wouldn't speak to me about medical cannabis until this was done."

Seth Adler: Why, on adult use day would she start now?

Bruce Linton: Because she's not trying to get treated special or be part of a party favors group-

Seth Adler: Understood.

Bruce Linton: This is actually ... she has a medical thing. Everybody's whose not legit in her mind, who wants to have a party can do that, but she has a medical thing and she wants to only be treated like medical. I think there's going to be a lot of people-

Seth Adler: Wouldn't it have been fine before Rec Day for her, do you know what I mean?

Bruce Linton: No, not yet in Canada because your doctor, even though we visit, like 50,000 doctor visits-

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: And there might be 15 or 20, 18,000 doctors who've written scripts, you still don't get treated with, "Well that's a great idea. Let's try it."

Seth Adler: Got it.

Bruce Linton: You get treated with, "Are you sure we can't try everything else first?"

Seth Adler: Yeah, let's wait until palliative.

Bruce Linton: Or, "Did you hear about ... who did you hear about this from?" So it wasn't one of those things where people felt as comfortable being demanding as they could be because it wasn't universally available through two channels. And now, if you go to your doctor, I bet a lot more people tell the truth, say, "I don't like what's working with this pharmaceutical thing, and I want to get rid of it."

Seth Adler: Yeah.

Bruce Linton: And so I don't think you should bet on the medical market diminishing, especially given that torque, coupled with it actually getting a lot of research done. So if we start being able to make medical claims after Phase 2B trial, once you make one or two, I will not have to hear anymore, "There is no medical evidence that it was-" Yeah, it's a plant people have been dragging around the planet for 5000 years, and it doesn't work. That's why they're dragging it all over the place.

Seth Adler: Right, exactly.

Bruce Linton: It doesn't do anything. It's just like dragging around a bit of dirt or something.

Seth Adler: Right.

Bruce Linton: It's just ... you know, you just got to shut up, not respond and get to work.

Seth Adler: Yeah, and that's what you've done. I'm interested to hear what you think reaction is going to be worldwide. You just said this person's grandmother kind of takes it seriously. First G-7 Nation to legalize adult use, with all due respect to Uruguay, just not a G-7 Nation.

Bruce Linton: Well, it's G-97 or something, right?

Seth Adler: Something like that. Top 100.

Bruce Linton: Yeah, yeah. 97's a good number.

Seth Adler: Yeah, sure. What do you think? What are you already hearing? It's kind of later in the day. What do you think you're going to be hearing? What did you hear before today happened, because today was definitely going to happen anyway.

Bruce Linton: Yeah, so you're in Smith Falls. Smith Falls is kind of like in the center of southern western/eastern Ontario. It's kind of between Toronto, Montreal, and Ottawa. When you're here, you won't hear anybody speaking anything other than English.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: That's because it's a really English place. That was kind of neat because today I also got to do an interview with someone whose first language is Japanese, and they represented a Japanese newspaper, and a Japanese radio station, and Chinese as well. British, Danish, multiple, multiple US. Everything in Canada has been cannabis all day. We have a bunch of channels that start with the letter C, like CTV-

Seth Adler: Yeah.

Bruce Linton: Which stands for Cannabis TV Today, CBC which stands for the Cannabis Broadcasting Corporation-

Seth Adler: Sure, of course.

Bruce Linton: So that's assumed. But BBC, they have done work three or four days in a row.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: And they're all asking questions that are great questions from 2013-

Seth Adler: Yeah.

Bruce Linton: That they like honestly-

Seth Adler: Don't get it, right?

Bruce Linton: Well, it's great they don't get it.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: And it's great because our answers are way better now than they were in 2013.

Seth Adler: Certainly.

Bruce Linton: So they would say, their questions are, "Are there studies? Why are you regulating this? Won't this cause an epidemic kind of feeling," as though it's not already in society and it's just unregulated and not educated. They ask then about medical. "Why would a doctor let someone have this?" Those are great questions-

Seth Adler: Sure.

Bruce Linton: For which we have great answers now.

Seth Adler: Sure, yeah.

Bruce Linton: But I would say the world has never paid more attention on a single day to Canada than today. We did-

Seth Adler: Or cannabis, for that matter.

Bruce Linton: Or cannabis.

Seth Adler: Yeah.

Bruce Linton: In France, I have some people over there who sent and said, "There has not been more coverage of cannabis in the French papers than today."

Seth Adler: Mm-hmm (affirmative). Sacre Bleu.

Bruce Linton: Yeah. So here's what's happening.

Seth Adler: Bruce. Yeah.

Bruce Linton: What's happening is conversation's going to happen around the globe that says, "Do we actually know why we're ignoring cannabis?"

Seth Adler: Bingo.

Bruce Linton: "Do we know why we're biased against it as a medicine? Do we know how the hell we even got here?" We just keep it on the journey.

Seth Adler: You got your refer madness?

Bruce Linton: Yeah, yeah.

Seth Adler: You know, a poster right here in this room, and that's what everybody's been working with for the past 80-100 years.

Bruce Linton: Yeah, and I find in America where ... the Canadian Medical Association and the American Medical Association actually agree that cannabis is terrible and should not be available. But I think the facts are that about 90 years ago before they got rid of it, they all thought it should not be gotten rid of.

Seth Adler: Mm-hmm (affirmative). It seems so hypocritical doesn't it?

Bruce Linton: Well, and I would suggest-

Seth Adler: Referencing the Hippocratic [crosstalk 00:09:18]-

Bruce Linton: I know, and I would suggest that the doctors of yesteryear, who were living with the product in their presence might have a more valid perspective on its potentially usefulness than the people who have been governing medicine in the absence of cannabis who don't want to know. I find that they may be one of the last holdouts, but they're going to be unsuccessful when the evidence presents them with an argument that says, "You're wrong."

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: The media, the topic ... I can't believe that you will have more than five out of the G-20 countries in five years that aren't governing it.

Seth Adler: Mm-hmm (affirmative). In five years? Is that in five years?

Bruce Linton: In five years.

Seth Adler: I don't want to miss that prog notification.

Bruce Linton: In five years because it's not about political will, it's about the fact that if you want to stay on the wrong channel and tell the people who are supposed to vote for you, "You're wrong. You're stupid. You don't know what you're talking about," that's one of the worst ways to get elected.

Seth Adler: Yeah.

Bruce Linton: And this conversation isn't going to be just the politicians. They're going to have to talk about what people want to talk about, and it's going to Canada, and the fact that we probably all go to work again tomorrow, that we probably end up with better age of care homes because we won't, in the future, be opioid and tranquilizing our elderly. We'll be giving them cannabis, and a whole bunch of ways that we do it.

Seth Adler: Let's talk about excised taxes, taxes and pricing, right?

Bruce Linton: Right.

Seth Adler: Because-

Bruce Linton: Aren't you a lot of fun?

Seth Adler: Yeah, exactly. You know, these are the questions that I gotta come with, right?

Bruce Linton: Oh yeah.

Seth Adler: Because there's a pricing question here as it relates to how we actually flush out the black market, because as you said, all the world's eyes are on us. How do we make sure to make this work? Push out that black market and really compete on pricing.

Bruce Linton: When you would go to a dispensary, which is really an illicit, illegal store in Canada. It's not like the kind we talked about in say Colorado, which is at least illegal in Colorado, if not federally, you wouldn't find products that were coming to you that you would want to buy for anything than $10.00, often $12.00.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: They officially came from nowhere.

Seth Adler: Yes.

Bruce Linton: And you didn't have a clue what was on them, so you wouldn't know that there was sprays or maybe fecal chloroform. So we can talk about taxes and excise, or we can talk about a campaign that says, once we test it, do you want me to kind of fecal chloroform on that guy's and mine is clean?

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: If the campaign says, "Do you want shit or good shit?" Now, do you want to talk about taxes anymore, or do you give a shit about taxes when there could be shit in your weed?

Seth Adler: And totally, and for much of the market that will work, right?

Bruce Linton: No, I think it's going to be a compelling argument for a big part of the new market.

Seth Adler: Okay.

Bruce Linton: I think that what's going to move the big thing is when we get to make a beverage like the one I'm holding, except it's clear and has cannabis in it. It's a light dose, rapid onset, and people say, "You know what? I can actually have people over, and pour them a glass of something rather than pass them a bowl of gummies." I think a lot of the money circuit, they will care about calories, which could be zero.

Seth Adler: Sure.

Bruce Linton: They will care about the fact that it could be very low on the profile of the drug on drug interaction, so it will vouch better than alcohol. And our regulators in Canada that regulate cannabis are universally across every state or province, the same people who regulate the sale of beverage alcohol.

Seth Adler: Of course.

Bruce Linton: So they will be very comfortable governing that. The illicit market has terrible ones, and we did a little acquisition ... today's Wednesday, Monday, of a thing called [Ebu 00:12:50].

Seth Adler: Mm-hmm (affirmative). I know the stuff.

Bruce Linton: We've done quite a bit of work on our sone, so I think when that penny drops-

Seth Adler: Share with folks what we're talking about there.

Bruce Linton: Ebu is a bunch of things, but it's IP around how do I make plants really smart and do what plants should do, which is maybe produce singular things. And it's a bunch of IP around-

Seth Adler: Cannabinoids, turpentines, etc.

Bruce Linton: Yeah, and how you can condensify them and things like that without getting into that area called GMO. It's just breeding.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: Then it's about how to do make ... they spent a lot of time, how I do make beverages outcomes that you would want? So that combination with our combination with other things that we're trying to put together collectively, I think is going to make it so that they won't be strawberry flavored, and they won't be 10 milligrams, and they won't be this, and they won't be that, they won't be a 40 minute wait and a four hour rec. These are going to be things that people will repeatedly buy in the market share, it won't be one or two points. It'll be big.

Seth Adler: You might be referencing current product on the market. I wouldn't say that you are. It would also be wonderful if you were talking about beverages, if you had a partnership with say, I don't know, like a constellation branch.

Bruce Linton: Yeah. Yeah, yeah. You know, some innovative company that really understands analytics, market, market response time, how to premium. So like we wanted to do this for four years, and we've been working on it for a long time, and we've been creating it, us, Canopy.

Seth Adler: Yeah.

Bruce Linton: In constellation, made it just an easier topic and that started two years ago.

Seth Adler: We talked about that after that came together on the last time we spoke with microphones.

Bruce Linton: Yeah.

Seth Adler: Now, we're starting to see interviews with you and them talking about the potential size of market.

Bruce Linton: Yeah.

Seth Adler: So let's share that information here, and are you serious?

Bruce Linton: Yeah, so when you try to size a market, you can ask people, "Do you currently buy illegal products? And how often do you buy illegal products?" You can ask that as a government, and somebody might tell the truth. I wouldn't.

Seth Adler: Okay.

Bruce Linton: So you can say, "How big is the illicit market based on the data I can gather?" And I'm not sure that's the best data. Or, you can look at it say, "If I took these ingredients and created things which were disruptive," that becomes what they called TAM, a total addressable market. So, how much is the TAM on pharmaceutical products or into the geriatric care, sleep? You start working your way through oncology. Those are not fixing you for the problems you have. They're making them a lot easier to live with than the other medicine. So there's a huge TAM there. Call it a couple hundred billion, I bet.

Seth Adler: Sure.

Bruce Linton: And then you say, "What's the TAM on veterinarian care?" Oh, like what do you mean? Well, like an old dog? How do make dogs less anxious so you don't want to get rid of your dog? You know, there's a lot of stuff around that, and that's probably a 50-75 TAM.

Seth Adler: A billion.

Bruce Linton: Right.

Seth Adler: Sure.

Bruce Linton: And then you say, "Well everybody in California seems to rub CBD somewhere on them some times a day on this idea that it may or may do something awesome."

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: But, how many milligrams do you need? With what frequency? How is that stuff actually transdermally working? Should it be transdermal, or should it actually be in some other form out of delivery so you can actually get the anti inflammatory outcome you want?

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: So you say, "How much do people spend on sports recovery drinks?" That's a big TAM. And then you start saying, "Where does that go if you start to be able ... the anti inflammatory could turn into a whole bunch of different skincare outcomes if done right?" I'm not saying that people now are doing it wrong, but I'm saying if your method describing an outcome is using yourself as the clinical trial, are you or not creating a placebo effect on yourself?

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: All of a sudden, now you stretch that CBD stuff across a huge category of daily use products. Huge TAM. Then you make your way up to beer, and to clear spirits. When I'm in America, I find a couple of things interesting. One is, there's this trend to try and have no calories in beer. Like, I see these one with like 83-86 calories.

Seth Adler: Sure, we're very proud of that.

Bruce Linton: Well what I find those, there's also no beer in the beer. Like, there's no alcohol. That's like-

Seth Adler: You're not supposed to notice that.

Bruce Linton: But what they're really trying to do is have a bit of good time without getting fatter.

Seth Adler: There you go.

Bruce Linton: So beer, that wouldn't make you fatter, but not beer, but a beverage like the equivalent of what maybe Red Bull was to the category of cola, I think it'd be massively disruptive if when you open it, it goes [inaudible 00:17:10]. But it tastes better. It's clear.

Seth Adler: Right.

Bruce Linton: It's cold. The bubbles are just right. And then you start working your way up to ladies getting together and they've got a bottle of sparkling white wine, I don't know 150 calories a glass probably, or our stuff, with zero. And instead of feeling a bit tired, you feel a bit giddy. You feel a little upbeat.

Seth Adler: Mm-hmm (affirmative).

Bruce Linton: Now it's Friday night and you and your spouse are hanging out, and you've got a bottle of mine and a bottle of wine for the next night. If ours doesn't make you fatter, doesn't leave you hung over, doesn't have a drug on drug in the same profile, you are going to like me because maybe one of you doesn't fall asleep watching Netflix, and who knows what happens?

Seth Adler: We're talking about business opportunity, we're talking about TAM, but what does that mean to jobs? Global jobs, what do you think that this could possibly be? We're not even talking about industrial hemp, are we?

Bruce Linton: No, no. Industrial hemp may help for the CBD portion, but then you still have a whole [crosstalk 00:17:59]. It'll disrupt cotton and all these things because nobody will subsidize cotton production anymore because that's subsidizing environmental destruction basically.

Seth Adler: Mm-hmm (affirmative). Mm-hmm (affirmative), let alone paper for that same matter.

Bruce Linton: Yeah, so I think all these things, when people say it's 180 billion, I say, "Well that's almost only the best proxy for the people to quit buying it illegally." But it didn't touch any of the things they just described.

Seth Adler: Yeah.

Bruce Linton: So I think ... I have a new bromance, and it's with a guy named Cramer who does Mad Money-

Seth Adler: Oh, sure. Yes.

Bruce Linton: The reason I like him is he's actually way more intense and smart off camera than on. That's saying something, right? But what I like about him is he interacts with enough people who look at TAM and disruption, and he gets to $500 billion. When he gets to $500 billion, I don't think he was talking Canadian.

Seth Adler: No, yeah and that's US dollars for [crosstalk 00:18:56].

Bruce Linton: So I'm not saying we're going to get all of that, but you can't just say it's like $9 billion. That's a big number, but that's not that big a number.

Seth Adler: Mm-hmm (affirmative). Again, just to pinch on the job growth-

Bruce Linton: Yeah.

Seth Adler: Just talk about Canopy growth and what you guys have done for the Canadian economy as far as jobs.

Bruce Linton: We're in 11 countries, so when I get my head count, a majority, a vast majority are in Canada, but we're about 2000 people now.

Seth Adler: Global.

Bruce Linton: Yeah, which is quite a bit more than when I was walking around asking the first four people, "Do you think this is a good idea and you want to do it?" They all said, "No. Very bad idea." Including my brother. So we're growing and what starts to happen is when you start to be in 11 countries, your ability to execute a group and create platforms and educate doctors in Germany accelerates. It goes one, two, three, 20.

Seth Adler: Yeah. To that end, how is my friend, BeBe in Colombia?

Bruce Linton: Awesome. Awesome. Our whole Colombia thing, we got approval for the board for a fairly aggressive construction project with real capital, and we have good partners, we have a good plan, we have the licenses. And so bulldozers are moving stuff, power is being constructed so it's the right way, the way we want it. It's game on.

Seth Adler: Okay. If you want to take us through all 11 eleven countries, please do, but what are some of the highlights?

Bruce Linton: We've so we've got plans in a bunch of countries, which means you're going to have product, or you're going to have research. So whether it's Demark or Spain, Australia, you start seeing them in the right places. Then we've got product in places like Germany and Czech Republic, Brazil. All of a sudden now you can start thinking about markets. Then you start looking at politics and activities in Jamaica. We're almost on our build for ... well, pretty much we are going to build for our greenhouse and processing center so we can actually have product supplied into stores, but done on a level of quality adherence to the standards.
It'll become the new Jamaican standards because we've spent a lot of time with the CLA, the Cannabis Licensing Authority. I think we're doing it the right way, and so that could become a very good, aggressive growth environment. And when you just start looking around, you see all this torque where you can actually look at how do we make a medical outcome in Canada drop into all these other countries? That is really where the money is, right? It is more about that than it is saying, "We are the best in Eastern Canada." Or maybe just Eastern Ontario. That is not the goal of Canopy. It is use home base to create and amazing platform, and then take the platform everywhere.

Seth Adler: Mm-hmm (affirmative). You brought Jamaica. I just wondered, two local economies. We're talking about the 2000 employees, we're talking about jobs, we're talking about total adjustable market. When you are in local economies, we've talked about Colombia. How are you working within those communities to kind of ... what? Share.

Bruce Linton: For the most part, we go to a country, we have somebody who's a local partner who's strong, and we work with them to secure license, production and sale. As we get to the final milestone, we end up having 100% controlled asset because we're about acceleration, not arguing. I don't have time for joint ventures. Joint ventures are a hilarious name given our sector, but they're a bad idea.

Seth Adler: Right.

Bruce Linton: Like, you want to have a joint venture?

Seth Adler: You know I got it, we got it. Yeah.

Bruce Linton: I want to name my boat Joint Venture, but I don't want to have a joint venture, and the reason I don't is I think we're figuring out what we want to do and we want to do more of it fast.

Seth Adler: Mm-hmm (affirmative)

Bruce Linton: We will expand on that basis, and we do everywhere, where we're going-

Seth Adler: And there you have Bruce Linton on Legalization Day in Canada. I very much appreciate his time. I very much appreciate your time. 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.