David Miller, the pioneering CEO of FlowGardens, joined me for an interesting conversation recently. During the show, David eloquently explained his transition from finance into the burgeoning cannabinoid industry.
David described the challenges of operating in Tennessee’s complicated market and FlowGardens’ focus on developing unique cannabis genetics and alternative cannabinoids like CBC, THCV, and CBDV. He also emphasized the importance of educating consumers on the vast potential health benefits of these lesser-known compounds. For example, early studies showed promising anti-cancer and anti-inflammatory properties of CBG and CBC.
He explained the challenge of shifting consumer focus away from high THC strains alone towards more balanced, holistic medicinal options. Though Tennessee’s strict regulations present obstacles, David remains optimistic, highlighting the opportunities it provides for innovation. He even sees potential for interstate sales from FlowGardens despite restrictions.
While Tennessee’s governor has opposed cannabis in the past, David looks ahead with positivity. He sees an evolving landscape in the state, full of possibilities for his avant-garde company. It was a pleasure to listen to his perspective on nudging the industry forward in a restrictive environment.
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Join Richard Zwicky weekly in discovering new insights into the business of the global cannabis and psychedelics industries. A successful entrepreneur & consultant who has built organizations in multiple industries across four continents, including one of the largest cannabis producers in Latin America, Richard has built teams from startup through to 500 people spread across over 10 countries, and regularly consults to businesses of all sizes with regards to their growth strategies, go-to-market plans, and paths to funding.
With insights drawn from multiple industries, Richard helps current and aspiring investors gain clarity of vision and insights into the drivers of growth and success in the cannabis and psychedelics industries in the US, and globally.Â
Richard Zwicky talks to Smoke Wallin, Managing Director and Partner, STS Capital Partners about the evolution of the cannabis industry and Smoke's journey from the beverage alcohol industry to cannabis. Smoke shared his insights on the challenges the cannabis industry is facing due to its recent legalization and the continuing illegality in some areas. He noted the importance of being a good operator, understanding the unique regulatory landscape, and being resourceful in generating cash. They also discussed the potential for consolidation in the industry, with Smoke identifying many promising but underfunded companies that could be ripe for acquisition. Richard emphasized the importance of focusing on necessities and letting go of distractions, drawing on Smoke's own experiences with illness and business.
Smoke shared his experiences with overcoming personal challenges to find inner happiness, emphasizing that true happiness comes from within. Richard agreed, adding that one in four people in North America has experienced abuse as a child, which can be a barrier to happiness. Both stressed the importance of addressing these challenges to achieve long-term happiness. They also briefly discussed their work schedules before returning to discuss Schedule 3 in the last purchase.
Richard and Smoke discussed the common desire to prove oneself and overcome challenges, which can be tied to mental health struggles. Smoke explained that many people experience trauma early in life that manifests later, causing them to seek external validation through achievement. However, true happiness comes from within, not from possessions or accomplishments. They emphasized accepting one's past without defining oneself by it.
Richard and Smoke discussed the challenges and setbacks that occur in life, emphasizing that being present does not always imply responsibility or control. They agreed on the importance of taking agency and viewing challenges as opportunities for learning and growth. Smoke suggested that our perception of the world influences our reality, and we can change our thoughts to create a desired future. Richard agreed, insisting that we are what we think, and our thoughts shape our tomorrow.
Richard and Smoke discussed the readiness of entrepreneurs to incorporate mindfulness practices into their lives. Richard noted that many entrepreneurs he has worked with become more receptive to mindfulness after experiencing success or failure in their ventures. Smoke agreed, sharing their own experience and suggesting that it's never too late to start a mindfulness practice. They both emphasized the benefits of making mindfulness a daily habit, even from a young age. The discussion also touched on the value of coaching and support in facilitating personal growth.
Richard and Smoke discussed the potential impacts of rescheduling to Schedule 3 and the changing dynamics in the industry due to pharmaceutical requirements and the EPA's involvement. Smoke expressed optimism about the imminent legalization, a shift from previous predictions, and highlighted the significance of this change for the economy. They also touched on the initial investment in Canopy and the losses incurred, suggesting that the change in schedule could positively impact such investments.
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