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We dive deep into East Coast cannabis markets with Rick Bashkoff, CEO of Lit Alerts, examining how data is reshaping operations in New York, New Jersey, and beyond as these emerging marketplaces evolve.

• Data accuracy in cannabis typically ranges from 70-90% with most platforms using similar methodology to predict market trends
• New York's cannabis retail scene faces challenges with rampant illicit stores that mimic legal dispensaries and confuse customers
• Top-performing stores in Maryland and New Jersey generate over $1 million monthly, while New York averages $600,000-$700,000 in its top quartile
• Store density significantly impacts performance, with Long Island's limited competition allowing dispensaries to reach multi-million dollar monthly revenues
• New York-born brands dominate their local market while New Jersey shows more receptiveness to established national brands
• Regional preferences exist across form factors, with urban areas favoring vapes and edibles while rural regions prefer traditional flower
• Product movement tracking through alerts and notifications helps brands identify when retailers are running low on inventory
• Challenges with indoor growing capacity in New York creates quality limitations compared to West Coast markets
• Successful brands from other states like Miss Grass, Fernway, and Clay Nine have rapidly gained market share when entering New Jersey
• Focus on operational fundamentals and customer needs rather than industry noise is essential for sustainable success

Visit litalerts.com for a 30-day free trial to explore their data tools, or connect with Rick on LinkedIn for more insights on cannabis market dynamics.

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

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Visit our website www.highspirits.media and listen to all of our past shows.

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Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

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Amy O'Gorman Jenkins, one of California's most influential cannabis lobbyists and director of the California Cannabis Operators Association (CaCOA), breaks down the critical fight to reform cannabis taxes and save the state's struggling legal market. The industry faces a dire situation with legal cannabis sales dropping 30% since 2021 and a recent automatic tax increase from 15% to 19% that represents a 25% hike for consumers.

• Legal cannabis sales in California have dropped 30% since Q2 of 2021
• The cannabis excise tax just increased from 15% to 19% on July 1st, creating a combined tax burden of approximately 38%
• AB 564 would revert the tax back to 15% for five years but faces opposition in the Senate after passing the Assembly 76-0
• Budget negotiations to freeze the tax increase failed despite Governor Newsom's public support
• Tax revenue beneficiaries oppose reform, incorrectly arguing higher taxes will generate more revenue
• California's legislature includes 120 members (80 Assembly, 40 Senate) with 70% of Assembly members having less than four years' experience
• Industry associations are fragmented and under-resourced, limiting political influence
• AB 8 aims to regulate intoxicating hemp products under the cannabis framework
• Future cannabis reform may require a constitutional amendment returning to voters

Call your state senator today to express support for AB 564 and join industry associations to strengthen advocacy efforts in Sacramento.

https://www.cacoa.org/

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Send us a text

In this special episode of High Spirits, we share with you AnnaRae's guest appearance on Practical Politics with friend and Lobbyist Lady Sabrina Noah.

From brewing espresso during California's groundbreaking Prop 215 campaign to revolutionizing cannabis quality standards, AnnaRae Grabstein's journey through the cannabis industry offers a masterclass in purpose-driven leadership. Her story begins in the Castro district of San Francisco, where as a teenager she witnessed the birth of medical cannabis advocacy from the AIDS crisis—planting seeds that would later blossom into pioneering entrepreneurship.

Combining her natural business acumen with formal education, she co-founded Steep Hill Lab—the world's first cannabis testing laboratory—while simultaneously pursuing her MBA. This groundbreaking venture not only introduced scientific methodology to cannabis evaluation but created an entirely new sector within the industry.

The conversation reveals profound insights about the delicate balance between ambitious vision and practical execution that defines successful cannabis leadership. AnnaRae candidly shares how early leadership challenges taught her the importance of mentorship and honest feedback—experiences that now inform her work as a strategic advisor through her firm Wolf Meyer. Her three-pillared approach helps cannabis companies define their purpose, establish clear objectives with quantifiable goals, and develop aligned KPIs that enable everyone in the organization to understand what winning looks like.

Perhaps most valuable is AnnaRae's perspective on being a "truth teller" in an industry where executive teams often lack honest outside voices. Whether helping companies transition to employee ownership or realigning compensation structures for profitability, her ability to deliver difficult messages while driving meaningful transformation demonstrates the unique value strategic advisors bring to cannabis businesses navigating complex challenges.

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Send us a text

Ever wondered what it takes to build a cannabis empire that remains authentic while scaling across multiple states, countries, and product categories? Tiffany Chin pulls back the curtain on her journey as the strategic mastermind behind Snoop Dogg's cannabis ventures, revealing the delicate balance of business savvy and cultural understanding that drives their success.

When Snoop purchased Death Row Records in 2022, he didn't just acquire a music label – he saw an opportunity to transform a 30-year legacy brand into something forward-thinking within cannabis. Tiffany shares how she answered Snoop's persistent calls to lead this vision, despite having left the industry for another career path. What followed was a complete reimagining of celebrity cannabis, with a fundamental commitment to quality that breaks industry norms. "One thing my head of operations likes to say about what we're trying to do is 'unboof' celebrity cannabis," Tiffany explains, detailing their rigorous standards that ensure Snoop actually smokes the products bearing his name.

The conversation takes us behind the scenes of their diversified approach – from strategic retail locations that follow a "Hard Rock Cafe model" rather than saturating markets, to hemp-derived products democratizing access across state lines, to beverage innovations based on the simple insight that "we're all born knowing how to drink." Throughout, Tiffany illustrates how her unique background combines Wharton business education with hands-on cannabis cultivation experience, creating what she calls the perfect balance of "suits and roots" – business acumen married with cultural authenticity.

What emerges is a masterclass in building a cannabis brand designed for longevity in an industry defined by constant change. Tiffany's team stays nimble by placing strategic bets across multiple channels while maintaining unwavering quality standards and cultural relevance. The result isn't just a celebrity cannabis brand – it's the foundation for a multi-generational legacy that honors both the plant and the culture that surrounds it.

Ready to experience Death Row Records Cannabis for yourself? Check out trydeathrownow.com for hemp products if you're in a legal state, or visit a Swede dispensary to experience the authentic vision Tiffany and Snoop have crafted together.

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Send us a text

Ever found yourself paralyzed by uncertainty in the cannabis industry? You're not alone. This episode with leadership coach Andrea Baillo reveals why waiting for perfect clarity is the surest path to stagnation, and what to do instead.

Andrea, who transitioned from cancer biology to executive roles at Green Thumb Industries and Open Book Extracts before founding Rooted for Success, shares her provocative insight that leaders need only "30% certainty and 100% courage" to move forward effectively. The conversation explores how cannabis executives can create clarity rather than waiting for it, especially crucial in an industry characterized by regulatory whiplash and financial pressure.

We dive deep into why behavior-based metrics deserve as much attention as financial KPIs. While companies track revenue religiously, they often neglect measuring how leaders build trust, communicate effectively, and display integrity—the very behaviors that form the backbone of successful organizations. Andrea offers practical frameworks for having difficult conversations, creating psychological safety, and recognizing when defensiveness is derailing progress.

The episode also features fascinating market insights: while cannabis prices are compressing, unit sales continue climbing. Consumers aren't using less cannabis—they're just paying less for it. Pre-rolls (especially infused varieties) are steadily gaining market share over flower as convenience becomes paramount for busy consumers.

Perhaps most powerful is Andrea's exploration of perception and control. Her forthcoming book examines how the stories we tell ourselves about situations often limit our potential more than external circumstances. As she puts it: "You are in the driver's seat. The only thing you can control is your next action and how you react to what's happening."

Ready to transform your leadership approach? Listen now and discover why, as Andrea concludes, "If you're not leading with intention and attention, you're just leading by accident."

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Send us a text

The path to cannabis normalization has never been straightforward, but as our industry faces critical regulatory crossroads, a fundamental truth emerges: consumers want cannabinoids. The "great hemp experiment" initiated by the 2018 Farm Bill has conclusively demonstrated mainstream appetite for these products across political spectrums and geographic boundaries.

Our wide-ranging conversation examines this pivotal moment through both strategic and philosophical lenses. We unpack the implications of the appropriations bill threatening hemp's future while reflecting on how regulatory uncertainty shapes business strategies. For cannabis entrepreneurs navigating this landscape, we identify markers of resilience: purpose-driven leadership, operational efficiency, and the ability to adapt continuously as market conditions evolve.

Those building successful cannabis companies today display distinct characteristics—they maintain realistic planning horizons (typically 6-12 months rather than speculative multi-year forecasts), track metrics like revenue-per-employee, and cultivate leadership teams capable of wearing multiple hats. Most importantly, these organizations build cultures where purpose permeates from top leadership through every aspect of operations. As we observe, "When a leader truly metabolizes values into their actions daily, it becomes pretty easy to filter that down through the company."

The conversation explores potential exit strategies for well-positioned operators, from strategic acquisitions (particularly in the beverage category) to employee ownership models that preserve company culture. Despite ongoing challenges, we remain fundamentally optimistic about cannabis's trajectory—public sentiment continues improving, with unprecedented mainstream support emerging even during regulatory battles.

For industry participants committed to this journey, remember that resilience isn't just surviving today's challenges but building organizations designed to thrive within uncertainty. As we conclude, "We can do hard things," and the future, while uncertain in its timeline, remains bright for those who maintain focus on building sustainable businesses while advocating for sensible regulation.

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

Send us a text

AnnaRae Grabstein and economist Andrew Livingston explore the economic impact of cannabis legalization across America and examines the complex regulatory challenges facing both cannabis and hemp businesses in today's market. Through analysis of state markets, policy trends, and business dynamics, Andrew reveals why some markets thrive while others struggle to compete with illicit alternatives.

• Over $24.7 billion in cannabis tax revenue generated since adult-use legalization began
• For cannabis markets to succeed, they need the "three A's": accessibility, affordability, and assortment of products
• Texas attempting modest medical cannabis expansion while simultaneously banning hemp-derived THC products
• The "alcoholization" of hemp beverages would integrate products into alcohol distribution systems but limit direct-to-consumer sales
• Court cases like Canna Provisions vs. Garland may create a judicial path to cannabis reform alongside legislative efforts
• The Farm Bill remains in continuing resolution, creating ongoing regulatory uncertainty for hemp businesses
• Indigenous tribal governments represent an overlooked laboratory of democracy with over 100 cannabis and hemp programs

Look out for Andrew Livingston's forthcoming report on indigenous cannabis programs across the United States. Indigenous communities have significant experience regulating products like tobacco, gaming and alcohol, providing valuable insights for cannabis regulation.

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.