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Covid-19 and the Cannabis Industry
Manage episode 294571030 series 2928557
Το περιεχόμενο παρέχεται από το Kristen Yoder and Soil To The Oil Media. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Kristen Yoder and Soil To The Oil Media ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
Every type of battle an industry can face has occurred in the cannabis industry. From insane taxes and regulations, to rampant corruption and shady business practices. However, NOTHING compares to the challenges Covid 19 poses.
The publicly traded cannabis industry ended 2019 with a capital crash. Now, thanks to Covid-19, cannabis has entered into yet another unknown territory. Early investors and small business owners are now finding themselves with very few options, leaving all of us to wonder - who will survive, who will sell out, and who will close permanently?
The philosopher, Heraclitus, comes to mind when describing the cannabis industry - “the only constant is change”.
There is one thing we can be sure of, our industry and our world will never be the same again.
3 Lessons Learned
- There is a playbook to weathering financial crises:
- Fiscal Response
- Monetary response
- Health response
- Take this time to get your game plan straight and start seeking investment again – it may sound counter-intuitive, but the goal is to be top of mind when the spigot turns on
- As the old adage goes: When everyone is greedy, be fearful, when everyone is fearful, be greedy
Guest Bio and Social Media Links
Colby is a 22 year veteran of the financial services industry working with many of the largest institutional and private investors. As CEO of Quiver Holdings LLC Colby has provided strategic guidance to private companies throughout their capital raising campaigns. Colby has been educating and managing investors and entrepreneurs on all subjects related to finance and investing. Prior to Colby's focus on investment banking and corporate structure he was a top producing branch manager for some of the largest regional and independent broker dealers with an emphasis on branch expansion and post merger integration.
Credits:
Audio Editing - Seth Cross - Frontal Lobe Productions
Intro/Outro - Jef Judin
Music - The Master by Flashing Lights
Podcast Links:
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