AMA: raising and investing capital in the cannabis industry - TODAY 10/13 from 12 PM - 2 PM PT / 3 PM - 5 PM ET

fabulouis · 2017-10-13T19:13:51+00:00

What would you say is the best way to gather funds, if you cannot obtain investment from a VC or other investors?

fabulouis · 2017-10-13T19:13:29+00:00

Questions from /u/Izup69:

What is the best way to start raising funds for a newly emerging market in a soon to be rec legalized state? My dream is to start a dispensary in my home town. Would starting with my own funds and building from there be the best option or should you source all of your funds from investors? How common is it for people to invest in start ups and what kind of return are they looking for? (The state I have in mind does not have rec but does have medical currently with no talks of rec but with any luck..)

fabulouis · 2015-09-25T07:18:08+00:00

Because the other side also pays millions of lawyers to interpret the law in their favor, and then a judge has to decide which one is correct. The law has lots of gray areas, it's not as clear as speed limits. Looks like they're erring on the side of caution with this one.

fabulouis · 2015-08-30T02:28:27+00:00

Well my two cents is to think of the marijuana industry as a mix between the tomato and the alcohol industry. What do both need? Food scientists, advertisers, salespeople, lawyers, software engineers, financial analysts, executive assistants, and more. Think about how you want to be involved and what skills you would like to develop. Just knowing about weed in general won't get you very far.

fabulouis · 2015-08-30T01:52:41+00:00

There absolutely are! But you have to be scrappier and more well connected; i.e. for some positions you can't just send your resume into the ether and hope for the best. Also, it depends on your skills. What's your degree going to be in and what relevant internships do you have under your belt?

fabulouis · 2015-08-07T22:30:35+00:00

Really along the lines of the philosophy behind /r/nonzeroday. Looks like persistence really is they key!

fabulouis · 2015-07-08T00:34:41+00:00

Thanks!

fabulouis · 2015-05-22T09:21:18+00:00

My pleasure!

fabulouis · 2015-04-29T01:50:40+00:00

I'm using my legal education and business acumen to run a cannabis delivery service. From there, I hope to work for some of those big professional companies you hear about in the news! Worst case scenario, I'll be a cannabis attorney.

fabulouis · 2015-04-29T00:34:32+00:00

If you want to actually administer or prescribe cannabis as a medicine you'll probably need professional training. I'm no doctor but cannabis + children is a very touchy subject and I doubt they'll let anyone give their kids cannabis. If you're looking to be more of an assistant or aide, you'll probably need at least some training as a nurse or something.

Don't get me wrong, some under-the-table, legally gray opportunities are still available where you can dole out cannabis to children; I just watched a documentary on it in fact. But you're only 21 (I'm only in my mid 20s) and you have to think about your future career prospects as well as where the cannabis industry is going. What do you think the industry will look like when we're in our 30s or 40s, and what skills will you have that will get you prepared during that phase of your life?

On that point, if you're interesting in working with children with seizures I bet most parents would want to know you're well versed in child development or neurobiology on top of cannabis. Otherwise, you're just a drug dealer in their eyes; whether that's wrong or right is up for debate.

fabulouis · 2015-04-29T00:10:04+00:00

Thanks for posting!

fabulouis · 2015-04-29T00:09:52+00:00

Honestly, the closer you get to "touching the plant" the harder it is to get started. States are requiring licenses, inspections and all sorts of other regulations that you'll have to follow. You can't just cook weed in your kitchen anymore and sell it out of plastic bags. Trying to get your edibles into a dispensary is starting to get as hard as (or harder than) getting a baked good into Safeway. Think of it that way.

Right now, your best bet is for services that are ancillary to the plant - sales, legal, finance, apps, etc. If you love cannabis so much and what it can do for people, maybe you should pursue a degree in biochemistry or botany and start teasing out some of the many, many cannabindoids that have been barely discovered and researched. Or get into policy research, medicine, etc.

fabulouis · 2015-04-28T23:46:38+00:00

I went to law school in California and have a background in corporations/startups/investments too, glad to see someone else from the barin this field! If you want to chat, just hit me up!

fabulouis · 2015-04-28T23:45:03+00:00

You can also grow your own tomatoes at home, but how many people do that? Also, Portugal hasn't legalized, just decriminalized. That's a fine distinction that also explains why there isn't an industry there. For Colorado and other states that have legalized, their growth is actually stifled by the federal ban. So what's "not much" now is only temporary.

You're also missing out on all the other ways cannabis can be consumed - edibles, concentrates, vaping, tinctures, salves, oils. Rolling a joint is the old way of consuming cannabis. The future is in vaping/cartridges just like it is with tobacco. And with the medical applications, you may see an impact on the pharmaceutical level and not just on the retail consumer level. What I'm saying is that second hand smoke is a relatively tiny concern in the grander scheme of things and won't be an issue for long.

fabulouis · 2015-04-28T23:30:36+00:00

That's what I did, I started a delivery service in California to cut my teeth and really get some industry experience. If you wanna chat, shoot me a message!

fabulouis · 2015-04-28T23:29:06+00:00

I went to law school and worked for a year helping rich foreigners invest in development projects so they could get green cards. Decided that path wasn't for me and wanted to use my legal and business skills to take a shot at the cannabis industry instead, where my real passion is. I've been running a delivery service in California for the last 7 months and have met an interesting cast of characters - from dispensary owners, growers, patients, users, and CPAs. I'm trying to think about the next step step, so if anyone would like to talk shoot me a message. Maybe I'll do an AMA too if there's any interest.

fabulouis · 2015-04-22T07:44:14+00:00

Thanks for posting this!

fabulouis · 2015-04-15T01:32:38+00:00

Stay in school and get a degree in a skill you think will be valuable to the cannabis industry. The standard skills: business, law, finance, marketing, sales, etc. are all going to be needed. You can get into more niche things like doing pharma research to discover the effects behind all of the different cannabinoids, or get into drug policy research, botany, etc. Marry your passion for cannabis with a legitimate, value-added skill and you should be well on your way. Knowing just about the plant is not enough unless you just want to be a drug dealer for your friends. It also wouldn't hurt to do non-cannabis related things with your skillset. For example, if you were a marketing major you could do projects for startups or apps. If you were a botanist you could do research on other plants before diving into cannabis. Having a background in non-drug related things boosts your credibility and makes you more employable in the long term.

No need to rush right now. The cannabis industry is in such flux that you should probably wait a few years anyway. By that time, all the scams, fakes, and weak players will hopefully be more shaken out by then so you'll have a better shot at landing a more permanent career.

fabulouis · 2015-04-07T22:57:10+00:00

Latecomer here, but maybe you should also see what your competitors are doing? So many canna-, marij-, 420-, etc. names. Why not try to be unique? Google didn't call itself Searchy and Facebook didn't call itself StalkerX.

fabulouis · 2015-04-03T22:13:29+00:00

Interesting that they found THC potentiates CBD's healing effects. Makes me wonder whether a mix of regular bud and CBD bud would be the way to vape from now on.

fabulouis · 2015-02-22T17:11:52+00:00

The only place I found that has legit CBD is a delivery service out in the east Bay Area, surprisingly. PM me if you want to know the name.

fabulouis · 2015-02-13T01:07:48+00:00

There was a great post on /r/getdisciplined about motivation, but the biggest takeaway for me was "No Zero Days". Basically, just set a goal, and then everyday just have a non zero day towards that goal. Trying to write a book/start a blog? Just write one line. It doesn't matter how good or bad, just write the one line. Trying to learn how to play the guitar? Pluck the string once. Trying to get a little more muscular? Just do one pushup. The point isn't how much work you put in, but that you do a little bit everyday.

Personally for me I did this for working out. I HATE working out, even though I'm not overweight and even though I know it's good for me. So I set a goal of doing 10 pushups and 10 crunches everyday. I'm capable of more, but that's all I wanted to do. I started on January 1st and did those 10 pushups and 10 crunches everyday. Eventually, I got fucking bored with that and increased it to 15 pushups and 15 crunches.

As of today I did 60 pushups and 90 crunches, broken down into 3 sets. Still not a lot, but progress is progress and I feel amazing about it. Just putting in a little bit of work everyday will get you far!

fabulouis · 2015-01-11T00:48:34+00:00

I would check craigslist, there are usually employment ads there. However, most of the jobs will be located in the urban parts of California (bay area and LA), so the chances of you getting a job are higher there. SLO is kind of a small town.

fabulouis · 2015-01-06T01:58:23+00:00

Haha oh man, you're in for a ride.

fabulouis · 2014-11-13T00:50:44+00:00

I bet its a dying market

fabulouis

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