NBA player turned cannabis entrepreneur Al Harrington is urging the cannabis industry not to forget its "pioneers" — those who worked in the illicit market and paid for it — amid the push toward legalization and regulation.
"We also have to keep in mind all the pioneers and people that have gotten this industry to where it is right now," he said. "We want to make sure that there's equity opportunities so that we can also benefit from, you know, a product that they use to destroy a lot of people's lives through incarceration."
After 16 seasons in the NBA, Harrington founded cannabis producer Viola Brands, where he also serves as CEO. The company has a special focus on cultivating a diverse and inclusive cannabis industry.
After watching Wednesday's vice presidential debate, during which Sen. Kamala Harris pledged to "decriminalize marijuana and we will expunge the records of those who have been convicted of marijuana," Harrington said "it was about time" politicians got serious about legalization and decriminalization. But he urged lawmakers to consider equity first when regulating newly legal markets — especially on the state level.
"A lot of times the way that these laws and legislation is written, social equity is something that is brought up on the tail end," he said. "So we want to be able to have representation in the beginning, so that there's an even playing field. So we can go out and compete for market share."
As a businessman, Harrington said he recognizes his own role in creating the type of cannabis industry he wants to see. Viola Brands launched its own equity program, called Viola Cares, which is focused on increasing industry diversity and providing employment opportunities for those impacted by cannabis criminalization. He emphasized one initiative that helps individuals incarcerated for nonviolent cannabis crimes prepare for reentry into society.
"We set up these toolkits that give them options so that when they do come home, they can try to find a way to land on their feet," he said. "Eventually, you know, I think that through some of these initiatives and using companies like mine and some of these other companies, we can also employ these people and plug them right into the industry.
Harrington also teased another initiative, a business incubator program he called Viola Builds. The incubator program, which launched Tuesday, aims to create "100 Black millionaires within cannabis" by extending critical resources and operational support to brands within the program.
Harrington named Viola Brands after his grandmother, who found relief from diabetes and glaucoma through cannabis remedies.
Updated 11:57 am ET with additional details regarding the Viola Builds program
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.