CANN FROM CA
Why this cannabis drinks entrepreneur left LA for NYC
After raising $27 million in its latest Series A funding round, Cann co-founder Jack Bullock left the west for New York, reports Insider.
What’s the deal with Cann?
- Celebrities Rosario Dawson, Nina Dobrev and Adam Levine have all invested
- Co-founded by 33-year-old Jack Bullock left California to launch in New York
- Low dose THC and CBD drinks in grapefruit-rosemary and lemon-lavender flavours will be available in New York, Connecticut and New Jersey once stores open
- They’re already available in Massachusetts
Even though they founded the company in Los Angeles in 2018, they’re following the next big market in New York: ”That’s where this energy’s going to be for at least the next two years,” Bullock said. “The best consumer brands in our eyes are ones that are successful in LA and New York.”
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DOC SCREENING
Cresco Labs’ social justice doc to screen at SXSW
The Sentence of Michael Thompson, a short doc about the longest-serving non-violent offender in Michigan history and produced by MSO Cresco Labs, will have its world premiere at the Santa Barbara Film Festival and screen at SXSW this year, reports Cannabis Business TImes.
About Michael Thompson
- In 1994, Thompson was arrested after a friend-turned-police informant tipped authorities off to a sale of three pounds of cannabis
- Thompson was sentenced to 42 to 60 years in prison
- He remained in prison even after Michigan legalized adult-use cannabis sales
- The film follows Thompson’s daughter and lawyer’s efforts to expunge his conviction
The takeaway
“Unfortunately, one of the themes central to Michael’s story is not unique; several hundred thousand Americans—predominantly Black and Latinx—continue to be arrested on marijuana-related charges every year,” said Chima Enyia, executive vice president of SEED, Cresco Labs’ Social Equity, Education, Development initiative. “Over 40,000 people suffer in prison because of cannabis-related convictions at this very moment.” Watch the trailer here.
AMZN + AAPL
How Apple quietly changed its cannabis policies last year
In a move Forbes is calling “monumental,” last summer Apple joined Amazon in updating its policies, in this case allowing apps that sell and deliver cannabis to be downloaded from its App Store.
How is it legal? The policy states that any apps that are used to sell cannabis “ are exclusive to licensed legal entities and strictly require geo-fencing within the legal jurisdiction,” meaning it takes equal amounts of state compliance know-how and technical savvy, like that of fintech specialists Artis Intel, to make it happen.
The takeaway
Apple’s shift paves the way for further mainstreaming of cannabis: “Compliant and lawful participation in the cannabis ecosystem is paramount to widespread, mainstream adoption.”
