Capital can buy equipment, but not years of mistakes already turned into systems and judgment. Why the best cannabis advantage may be what a company survived somewhere else.
Reform does not help every cannabis operator equally. Jay Rosenthal on why the best asset is the one that still has value when your forecast is wrong.
Curaleaf's pursuit of Aurora isn't really about cannabis. It's about 50+ tons of EU-GMP supply and the two years it takes to build it from scratch.
The federal hemp ban arrives in November. It was aimed at intoxicating products, but the language is broad enough to take therapeutic CBD with it.
Cannabis banking's hardest problem: compliance does not equal permission. Every payment solution runs on the card brands' tolerance.
Access is a transaction. Influence is leverage. Cannabis has confused the two, and the scoreboard in Washington keeps saying so.
Pesticide drift means a cannabis team can do everything right and still fail testing. Vertical integration as environmental defense.
CBD didn't earn acceptance through branding. It earned it because results showed up where nothing else worked — and Schedule III raises the bar again.
Schedule III put CBD first for a reason: it's the lowest-friction entry point for FDA oversight. The agency will apply the playbook it knows.
Logic doesn't work in the cannabinoid space. Power and influence do. Spirits, pharma, big ag and retail are all circling the same disruption.