The Cannabis Company That Won't Mix Work With Pleasure
A limited supply of cannabis in the U.S. means those resources have to be divvied up carefully.
For Cronos Group, that means keeping its medical and recreational marijuana operations in completely different verticals, CEO Michael Gorenstein told Cheddar. That ensures patients’ needs are prioritized over those of recreational users.
“If you think about building a town, and you have a limited amount of building supplies, we want to make sure that we’re building a hospital before we’re building the bar,” he said.
Canada-based Cronos Group started trading on the NASDAQ on Tuesday, making it the first marijuana company to list on a major U.S. market.
“It’s a big milestone not just for us but for the entire industry,” said Gorenstein. “[It] just continues to show the acceptance that the cannabis industry is getting.”
And the industry does seem to be growing at break-neck speed. Arcview, a leading researcher of the cannabis market, stated in a [recent report](https://arcviewgroup.com/product/5th-edition/) that the industry brought in $9.7 billion in sales in 2017, and that number could grow to over $25 billion by 2021.
For the full interview, [click here](https://cheddar.com/videos/inside-the-first-cannabis-company-to-list-on-nasdaq).
Lauren Brody, author of "The Fifth Trimester," joined Cheddar to talk about the ongoing fight for a national paid family leave policy after it was cut from the Democratic reconciliation bill negotiation reportedly due to objections from Senator Manchin. Brody discussed how parents are often forced to choose between work and caring for their family and newborns — or even taking time to deal with a traumatic loss. "Frankly, it's appalling to me that we live in a place that doesn't support people who have experienced the death of a baby and then had to go right back to work," she noted.
American Airlines canceled more than 1,700 flights over the weekend and more than 300 on Monday morning. The carrier's COO cited high-wind weather conditions at its Dallas/Fort Worth hub as well as ongoing staffing issues.
Carlo's flying solo today, talking COP26 and climate change, another racially charged trial gets underway, SCOTUS takes on abortion and a stunning rise in traffic deaths points to a bigger societal breakdown sparked by the pandemic.
Deren Baker, CEO of Edge by Ascential, previews what to expect from Amazon given supply chain disruptions and discusses why it's important to focus on Amazon's non-retail sector sales.
The La Niña effect in the Pacific Ocean is leading to rough forecasts this winter in the Northern Hemisphere. Suketu Gandhi, supply chain partner at Kearney, joined Cheddar to discuss the likelihood food prices and shipping get disrupted amid the meteorological event especially considering existing supply chain problems. "The global supply chains are going to be truly disrupted with La Niña," he said, pointing to COVID-19 and political changes as factors. "So, the Jenga called 'supply chain' is just one brick away from falling down completely." In 2011, the last significant La Niña year, food prices reached record highs.
