Cannabis Economy

Helen Cho joins and and reminds us that Hawaii legalized cannabis in the year 2000 and it took seventeen years to open the first dispensaries. But two years ago, thanks in part to State Senator Will Espero, legislation passed, for said dispensaries to in fact open. There was a certain threshold of capital heft needed to attain one of those eight licenses. As a reminder the system is somewhat conservative. There is no wholesale market meaning that market participants cannot assist each other with supply and demand during shortages or overages. And in other news, the testing requirements are strict- which of course is an absolute positive. Regarding the consumer- Day 1 sounds like it was just like Colorado but unlike Colorado there were a few issues with the seed to sale technology which hadn’t been tested before that day.