MedMen VP Daniel Yi On How Recreational Marijuana in California Has Affected Business
Recreational marijuana has been legal in California since January 1 and since then cannabis stores like MedMen in West Hollywood have been a significant bump in sales and foot traffic. Alyssa Julya Smith visited the MedMen location in West Hollywood one month after the store first started selling recreational marijuana.
Yi explains that month-to-month MedMen has been triple the amount of foot traffic and revenue in January as they had from December. He explains that more people than ever before are buying edibles and trying different forms of cannabis.
Los Angeles was slow to start granting recreational marijuana licenses but has continued to issue them. As of the end of January, the city had approved more than 20 stores and is still awaiting approval from the state. According to some analysts, the cannabis industry in California is expected to be worth $5.1 billion in 2018.
While many are excited to watch the final two NFL teams square-off and see which one ultimately takes home the trophy, some, on the other hand, are there for another mian attraction -- the commercials. Companies during this year's game are looking towards the future From electric vehicles, to robots, and crypto-currency, several first-time advertisers are expected to join long-time advertisers like Pepsi, Budweiser and Doritos during the NFL's biggest game. Tom Morton, Global Chief Strategy Officer at R/GA, joined Cheddar News' Big Game Special to discuss.
Americans are expected to spend nearly $24 billion in 2022 for Valentine's Day, and many of those gifts will be in the form of chocolate. John Galloway, interim president of the Americas and CMO of Godiva, joined Cheddar's Opening Bell to discuss what chocolate trends the brand is seeing this year, plus the impact of inflation and supply chain issues on the industry.
New York City's famous subway system is currently facing scrutiny after several recent attacks on platforms. Now, local leaders in the Big Apple are calling on the MTA. To step in and take action.
New York City ride-hailing app drivers are about to get a pay raise. According to the city's Mayor Eric Adams, New York will increase its minimum driver pay rate for both Uber and Lyft drivers. This means both platforms would now be required to pay their drivers a minimum of $1.61 cents per mile and about 0.50 cents per minute. Ultimately, the move would give riders at least a 5.3% race. New York City Comptroller Brad Lander, joined Cheddar to discuss more.
Tensions in Ukraine continue to rise. According to NATO and U.S. officials, Russian troops are still being built up despite Moscow's claims of de-escalation. However, Ukraine does not believe the troops are enough to mount an invasion. The government in Kyiv has also reported several cyber attacks against its defense agencies and banks which is the largest attack in the country's history. Foreign Affairs Reporter based in Ukrain, Terrell Starr, joined Cheddar to discuss more
