We're just a few days away from a rapid shift in the way the cannabis industry operates in California. Starting January 1st, businesses will be allowed to start selling recreational weed. Greg Zeman, Associate Editor at Cannabis Now, was with us to discuss the legal and financial implications of the new law.
California is the 6th largest economy on Earth and could have a big influence on the perception of marijuana by the rest of the nation. This is the real test for the cannabis industry in the U.S., and other states will be taking notes, says Zeman. He adds that the new regulations will impact issues in the space such as potency of products and what hours dispensaries can operate.
Blockchain has been one of the biggest buzzwords in business over the past few months as the Bitcoin craze continues. The idea has been floated to track marijuana sales via blockchain technology. Zeman thinks this would be great for the industry, because we'd be able to see the where sales came from and who owns the product. He adds that being able to track marijuana sales is very important in a market where the authenticity of the product is crucial.
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
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The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down the agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. Russell Vought is the newly installed director of the Office of Management and Budget. Vought directed the CFPB in a Saturday night email to stop work on proposed rules, to suspend the effective dates on any rules that were finalized but not yet effective, and to stop investigative work and not begin any new investigations. The agency has been a target of conservatives since President Barack Obama created it following the 2007-2008 financial crisis.
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