Future of Cannabis: A Conversation with Jason Vedadi, Co-Founder of Harvest Health
The 3 key TDR takeaways from our conversation with Jason Vedadi the Co-founder of Harvest Health:
- The current state of the cannabis industry, mentioning the anticipation around amendment three and rescheduling.
- Impact of previous letdowns, such as the banking issues in the lame duck period
- The 90-day hold period until the election and the potential impact of a Harris presidency versus a Trump presidency.
Jason Vedadi, co-founder of Harvest Health and Recreation and CEO of Story Cannabis, delved into the current state and future of the cannabis industry during a recent discussion. He highlighted the industry’s anticipation surrounding amendment three and rescheduling, which could have a significant impact on the industry’s tax status and financial stability. Vedadi stressed the importance of entering markets early and swiftly operationalizing assets. He also noted that rescheduling could lead to increased credit availability, a rerating of companies, and a more mature investor market. Furthermore, Vedadi mentioned the challenges faced by public company executives and the potential for Employee Stock Ownership Plans (ESOPs) as an exit strategy.
In the podcast, Vedadi discusses the current state of the cannabis industry, including the anticipation surrounding potential normalization and the impact of previous disappointments. Jason shared insights into the 90-day hold period until the election and the potential outcomes under different presidential administrations.
Jason Vedadi also shared his career journey, from founding Harvest Health and Recreation in 2017 to his current role as CEO of Story Cannabis. He discussed lessons learned from his experience, including the challenges of transitioning from a private business to a public company executive. Jason emphasized the importance of having a team that understands the unique challenges of the cannabis industry.
The discussion touched on the challenges faced by public company executives, such as dealing with regulatory issues and financing. Jason highlighted the importance of having a team with experience in the cannabis industry and the need for a flexible business model to adapt to the industry’s rapidly changing landscape.
Looking ahead, Vedadi discussed the future of private Multi-State Operators (MSOs) and the potential for ESOPs as an alternative to large cash exits. He shared his thoughts on the impact of rescheduling and amendment three on the industry, emphasizing the potential for increased capital inflow and growth opportunities.
In conclusion, he highlighted the importance of being prepared for the industry’s evolution and the need to adapt to changing regulations and market dynamics. The conversation provided valuable insights into the future of the cannabis industry and the strategies needed to navigate its complexities successfully.
