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Cannabis & Tech TodayCannabis & Tech Today

Cannabis & Tech Today Winter 2018

With the growing legalization and de-stigmatization of marijuana comes a new wave of innovation in the science and business of the industry. That’s where we come in, providing you with inspiring business profiles, exclusive interviews with thought leaders in the field, new product revolution, and insight on new legislation and growth in the market in our innovation hot spots.

Country:
United States
Language:
English
Publisher:
Innovative Properties Worldwide, Inc.
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4 Issues

IN THIS ISSUE

access_time2 min.
looking back, looking forward

As 2018 comes to a close, I could not be happier with how our publication has grown. Since our launch at MJBizCon NEXT earlier this year, we have worked tirelessly to keep our readers up-to-date with everything happening in the modern cannabis industry. And, as the following pages will show, there is definitely a lot happening within the space, from legislation and sustainability to security and entertainment. With that in mind, I am proud to present the winter issue of Cannabis & Tech Today. As is tradition with Cannabis & Tech Today, we have multiple cover features for the new issue: Kevin Smith and CBD American Shaman’s Vince Sanders. While the two have gone down different career paths, they definitely have one thing in common: a passion for cannabis. In Smith’s…

access_time1 min.
by the numbers

Demographics of Consumption As the cannabis industry continues to grow, stigma is down and sales are up. Even conservative projections see national marijuana sales hitting $21.6 billion by 2021, up from $6.73 billion in 2016. That number is then projected to hit $57 billion by 2027. It begs the question: “Who exactly is purchasing all of this cannabis?” Data shows that while the largest consumer group is millennials (those under 35), the older generation is willing to spend a bit more money on their products. Share of U.S. Consumers who Currently Smoke Marijuana, by age Source: Statista Average age of cannabis users (2017) Source: Cannabis Consumer Coalition Average Item Price Per Generation Millennials ( Percentage of total sales across generations Millennials ( Percentage of Total Sales For Each Generation by Gender Source: Headset Cannabis Intelligence Cannabis Consumer Combined Household Income Source: Cannabis Consumer…

access_time5 min.
know before you invest

Cannabis is taking a turn. While the industry has been in a state of growth for awhile, in just the past few months some key stories have caused much volatility. The substance became recreationally legal in Canada this year. Despite U.S. federal regulations, this has caused huge brands like Constellation Brands (which owns Molson Coors) and Coca-Cola to take a look at the cannabis industry. Even in the U.S., the Drug Enforcement Administration has rescheduled some forms of CBD, allowing doctors to prescribe certain CBD-based medications. However, U.S. laws classifying most cannabis products as Schedule I drugs leave a lot unknown for the industry. For example, Canadians who have invested in the marijuana industry risk being banned from the U.S. at the border. At the same time, the recent midterm elections…

access_time3 min.
the [bulb]tech evolution

For cannabis companies, the potential for technological integration is limitless. Nearly every aspect of the business can be streamlined and optimized with innovative tech solutions. One startup that’s curating efficiency is BulbTech, a cannabis ecosystem connecting sellers with consumers in an easy-to-use interface. BulbTech is an online store, a delivery app, and a CRM all rolled into one intuitive platform. As the cannabis sector grows, so too will the demand for tech-enabled solutions. According to BulbTech CTO and Founder Tiffany Burtt, “This is an emerging industry and one that will be worth almost $150 billion by 2025. None of us will ever see another industry emerge like this.” With so much money on the line, partnering with the right technologies now could add up to significant savings later on. We spoke…

access_time2 min.
the cannabis curriculum

This past spring, ZipRecruiter’s CEO, Ian Siegel, revealed that cannabis is the fastest growing job category in the United States. With 445 percent year-over-year growth in job listings, cannabis is far outpacing tech and healthcare career growth (245 and 70 percent, respectively). Data released by Mordor Intelligence suggested that the country’s market value could reach $65 billion by 2023. Potential supporting evidence comes from cannabis staffing agency Vangst which reported a 690 percent jump in job listings since 2017. The hottest job markets continue to be notable cities and states with recreational and medicinal use. Job seekers are finding the most opportunities in California, Colorado, Washington, Nevada, Oregon, and Florida. However, opportunities should continue to expand further into emerging markets in the U.S. soon enough. Until recently, those seeking an education in…

access_time3 min.
the kids are alright

In recent years, the idea of the youth being adversely affected by the legalization of marijuana continues to be a common refrain of those in opposition. As recreational marijuana has existed in several states for nearly half a decade, we have the benefit of hindsight and can know with a reasonable degree of certainty if the voters that approved the legalization of marijuana thought of the youth of America. Today, the concept of legal marijuana seems to be the domain of liberal states, but this hardly describes the state of Colorado, a mostly red state with two large blue splotches in Denver and Boulder. Colorado Amendment 64 quickly gained traction and there was little doubt as to its passage in 2012. The support for legalization spanned the political spectrum: liberals believed…

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