Cultivated are welcomed into the new planet of cannabis………..
I also went to the Cannabis Private Investment Summit at the law firm Duane Morris’s midtown Manhattan offices on Tuesday exactly where we saw some of the very same difficulties at play, albeit on the state level.
New York State Sen. Liz Krueger outlined the social justice case for legalizing cannabisin New York — in a space complete of higher net worth investors and cannabis execs — and laid out how limiting the quantity of licenses one particular business can possess in the state is vital to her stated social justice objectives. She also stated she desires to present a structure that would permit compact, minority-owned startups adequate access to capital to get their enterprises off the ground.
We also scored a sit down with David Feldman, who leads Duane Morris’s booming cannabis practice, and ex-Canopy Development CEO Bruce Linton at the conference.
Although the cannabis legalization movement has the very same broad target — the legalization of cannabis — it is fraying into two sides: activists who want social justice regarded above market-friendly legislation, and the increasingly nicely-capitalized cannabis organizations and investors on the other side. We’ll be watching how this plays out.
As Feldman told me in his workplace overlooking Instances Square this week, “legislation is all about compromise.”