High Spirits: The Cannabis Business Podcast

The DEA has finally spoken, but the path forward for cannabis operators is far from simple. As we move into a post-rescheduling world, the industry is bracing for a complex, bifurcated future that could redefine winners and losers overnight.About This Episode: On this episode of High Spirits, hosts Ben & AnnaRae go deep into the technical and human sides of the rescheduling order with two of the industry’s sharpest minds: Gail Rand (Founder of Grand Consulting) and Michael Harlow (National Cannabis Lead at CohnReznick). We explore the potential for retroactive 280E relief, the looming battle for market share, and why your business fundamentals matter more now than ever before.💡 What You’ll Learn:The 280E Retroactivity Debate: Can operators actually expect tax refunds for prior years, and how should you be planning your cash flow today?The Bifurcation Challenge: Why the industry might split into distinct Medical vs. Adult Use silos and what that means for your licensing strategy.M&A and the Horizontal Shift: How the move toward Schedule III could trigger a wave of consolidation and a departure from the traditional vertical integration model.Operational Readiness: Why "cleaning up your books" is the most critical move you can make while waiting for federal agencies to harmonize their rules.🌟 Meet the Guests:Gail Rand is a CPA and the Founder of Grand Consulting, bringing over 30 years of finance expertise to the industry. Her journey began as a patient advocate, helping pass Maryland’s medical cannabis legislation to secure access for her son, and she eventually became the CFO of the state’s first cultivation licensee.Michael Harlow is the Managing Partner of CohnReznick’s DC Metro office and leads the firm’s National Cannabis Practice. With a decade of experience advising everyone from single-site dispensaries to the largest MSOs, Michael is a preeminent expert on the tax, accounting, and regulatory hurdles facing cannabis businesses.📅 Why Tune In?If you are an operator or investor trying to make sense of the "gobbledygook" of federal policy, this conversation provides the roadmap you need. Ben & AnnaRae cut through the noise to help you understand how to protect your margins and position your business for the next era of American cannabis.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

It's been one week since cannabis rescheduling to Schedule III was announced — and the questions keep multiplying. Jay Rosenthal, Marc Hauser, and Ben Larson unpack the real-world implications for operators, lawyers, accountants, and states navigating this seismic shift.In this episode:The DEA registration question: does it matter for 280E relief?The "Schrödinger's Cannabis" problem — how the same product can be Schedule I and Schedule III simultaneouslyState-level ripple effects: South Carolina, Nevada, Indiana, Texas, and moreThe 60-day application window and what it means (or doesn't)Congressional pushback: an appropriations bill that could defund rescheduling?Political dynamics: Trump, Kim Rivers, and the hemp connection4/20 data: pre-rolls dominate, infused pre-rolls surge nationallyPlus clips from Mike Feldman (NABIS General Counsel) and Rick Bashkoff (Lit Alerts) on what rescheduling means operationally and at retail.Hosts:Jay Rosenthal, CultivatedMarc Hauser, Cannabis MusingsBen Larson, High SpiritsStreamed live May 1, 2026Join us every Friday at 12PM ET / 9AM PT🔔 Subscribe for weekly cannabis industry analysis, news, and live conversations.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Is it time to get giddy or stay skeptical? The federal rescheduling of cannabis is the biggest regulatory shift in decades, but it comes with a complex web of DEA registrations and international treaty considerations. Join Ben Larson and AnnaRae Grabstein as they sit down with top legal minds Alyssa Samuel (Husch Blackwell), Eric Berlin (Dentons), and Michael Cooper (Madison J Solutions) to unpack what happens when the DEA portal opens and how you can position your business to be a winner in this new era.💡 What You’ll Learn:The DEA Registration Roadmap: How the new 60-day registration window works and why being "deemed compliant" is the first step toward federal legality.The Interstate Commerce Conflict: Will Schedule III trigger the Dormant Commerce Clause and finally break down the "closed-loop" state systems?Banking & Capital Markets: Why Schedule III status could be the "mic drop" moment for NASDAQ listings, SBA loans, and institutional investment.The Future of Adult-Use: The legal hurdles involving international drug treaties and the upcoming June hearing that could decide the fate of recreational markets.🌟 Meet the Guests:Alyssa Samuel: An attorney at Husch Blackwell with over a decade of experience in the Colorado and multi-state markets, specializing in complex regulatory compliance.Eric Berlin: Lead of the US and Global cannabis sector at Dentons, the world’s largest law firm, bringing 18 years of specialized cannabis legal expertise.Michael Cooper: Founder of MadisonJay Solutions and Chair of Policy for the NCIA, Michael is a leading voice in regulatory strategy for cannabinoids and spirits.📅 Why Tune In?The "Knife Fight" for survival just got a lot more technical. If you are a cannabis operator, investor, or policy wonk, this episode provides the direct legal clarity you need to navigate the next six months of federal transition without falling for industry misinformation.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

What does rescheduling really change — in the next 90 days, the next year, and the next decade? Jay Rosenthal and Jeremy Berke  from Cultivated are joined by AnnaRae Grabstein and Ben Larson from the High Spirits podcast and Marc Hauser from Cannabis Musings for a live breakdown of the  stories that defined this week in cannabis.Rescheduling: We're bringing in a special guest to help cut through the noise — what does moving cannabis from Schedule I to Schedule III actually change for operators? What happens to 280E? What does it mean for banking, for institutional investment, for the broader legitimacy of the industry? And critically: what doesn't change at all?Subscribe → https://cultivated.newsHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Is the "growth at all costs" era of the MSO officially over? According to Richie Proud, success in today's cannabis market isn't about having the most square footage—it’s about operational efficiency, consumer engagement, and a "flower-first" mentality.About This Episode: On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Richie Proud, CEO of iAnthus. Since taking the helm in 2023, Richie has led a strategic restructuring of one of the industry's most storied public companies. He shares how his background in high-stakes retail at Abercrombie & Fitch and Hollister is shaping the way iAnthus connects with consumers in complex medical markets like Florida and emerging adult-use hubs in the Northeast.💡 What You’ll Learn:The "Flower-First" Strategy: Why iAnthus is prioritizing craft-quality genetics and cultivation over sheer canopy size to drive brand loyalty.Operational Restructuring: How Richie moved the company from a regionalized model to a "centralized strategy, localized execution" framework.The Florida Market Deep Dive: Insights into the unique medical consumer demographic and why patients "vote with their feet" in a vertical-only state.Transitioning from Big Retail: How to adapt traditional CPG playbooks to the unpredictable and highly regulated world of cannabis without failing.🌟 Meet Richie Proud:Richie Proud is the CEO of iAnthus, a vertically integrated MSO with a significant footprint across the East Coast. With over two decades of experience in retail leadership—including executive roles at Abercrombie & Fitch, Hollister, and Curaleaf—Richie brings a consumer-obsessed, data-driven approach to cannabis. He is currently focused on steering iAnthus toward sustainable EBITDA expansion and refining its portfolio of brands like The Vault and Cheetah.📅 Why Tune In?If you are an operator or investor looking for a masterclass in the "stabilize and grow" phase of the cannabis business cycle, this conversation is essential. Richie provides a transparent look at how a public MSO can pivot from legacy baggage to become a lean, consumer-centric competitor in 2026.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

On This Week in Cannabis Live, High Spirits hosts Ben Larson & AnnaRae Grabstein join the team at Cultivated for a high-stakes news roundup. From the logistical nightmare of surging oil prices to the "race to the bottom" for cannabis pricing on the East Coast, the crew breaks down the macro-trends hitting operators' bottom lines right now. Plus, a look at the latest hemp-derived THC legislation and the "de-banking" saga that proves no one is safe from the whims of big banks.💡 What You’ll Learn:The Logistics Crunch: How $110 oil is forcing distributors like Nabis to use AI and "secure roots" just to keep trucks moving.The "Massachusetts Effect": Why East Coast markets are rapidly compressing toward $23 eighths and how operators must find efficiency to survive.Hemp vs. The Farm Bill: A breakdown of the Klobuchar-Rand Paul hemp bill and whether "gas station weed" can actually survive federal scrutiny.The De-Banking Reality: Why even non-plant-touching media companies are getting shut down by Chase and the critical need for financial redundancy.🌟 Meet the Panel:This episode features a "full house" of industry experts, including hosts Ben Larson (Vertosa) and AnnaRae Grabstein(Wolf Meyer), alongside Jay Rosenthal and Jeremy Berke of Cultivated, and Marc Hauser of Cannabis Musings. This group combines deep expertise in cannabis investment, media, legal policy, and supply chain operations.📅 Why Tune In?Whether you're an MSO executive or a craft hemp brand, the "difficulty level" of the cannabis industry just increased. Tune in to hear how the top minds in the space are navigating the current "knife fight" for profitability and where they see the biggest wins (and losses) heading into the rest of the year.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

The hemp beverage industry is thriving, but a federal "cliff" in November could bring it all to a screeching halt. With a looming ban on products over 0.4mg of THC, the stakes have never been higher for operators and consumers alike.About This Episode:In this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Dawson Hobbs, EVP of Government Affairs at the Wine and Spirits Wholesalers of America (WSWA). As a key player representing 80% of the nation’s wine and spirits distribution, Dawson provides a high-stakes look at the legislative battle in Washington D.C., the push for a three-tier regulatory model, and why the industry must choose between strict regulation or total extinction.💡 What You’ll Learn:The November 2026 Deadline: Why federal funding bills currently threaten to criminalize nearly every hemp beverage on the market.The Power of the Three-Tier System: How the alcohol model of "Producer-Distributor-Retailer" can provide the safety guardrails Congress is demanding.Legislative Strategy for 218 Votes: Why standalone bills matter and how to find champions on the Hill who prioritize public safety over "gas station weed."The "Perfect vs. Good" Trap: Why the hemp industry must stop suing over state regulations if it wants to survive at the federal level.🌟 Meet Dawson Hobbs:Dawson Hobbs is the EVP of Government Affairs for the Wine and Spirits Wholesalers of America (WSWA). With over two decades of experience navigating alcohol policy, Dawson is one of the most influential voices in Washington regarding the intersection of traditional beverage and emerging THC categories. He leads advocacy efforts for over 380 member companies, bridging the gap between legacy distribution and the future of hemp-derived intoxicants.📅 Why Tune In?Whether you are a hemp operator, a cannabis MSO, or a beverage investor, this conversation is your roadmap for the next six months. Dawson breaks down the exact "proof of concept" the industry needs to present to Congress to ensure THC beverages stay on shelves and out of the shadows.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Is the "show me" state actually showing the rest of the country how to build a sustainable, high-growth cannabis market? In an era where many MSOs are struggling to stay afloat, one family-owned operator is proving that technical expertise and operational discipline are the ultimate competitive advantages.On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein are joined by Boston Dickerson, Founder and CEO of Show Me Organics. Boston shares the incredible journey of scaling a "backwards vertical" business—starting with retail and manufacturing before moving into cultivation—and how he grew the company from a two-person startup to a 350-employee powerhouse across Missouri and Kentucky.💡 What You’ll Learn:The "Backwards" Vertical Strategy: Why starting with retail and manufacturing provided a unique advantage in understanding consumer demand before touching a single plant.The Reality of the "Knife Fight": How oversupply in Missouri shifted power to retailers and what it takes for a brand to survive pricing pressure.Winning with Process: The transition from "founder-led hustle" to using EOS (Entrepreneurial Operating System) for clarity and accountability at scale.Breaking into Kentucky: The challenges and opportunities of operating in a new, highly restrictive medical market and the importance of localized pride.🌟 Meet Boston Dickerson:Boston Dickerson is the Founder and CEO of Show Me Organics, one of Missouri’s premier vertically integrated cannabis operators. With a background in biochemistry and a passion for the plant, Boston and his brother Montana have built a diverse portfolio including Blue Sage Dispensaries, Vivid, and Missouri’s Own Edibles. Known for his disciplined approach to capital and operations, Boston is currently leading the company's expansion into Kentucky and eyeing future growth in limited-license markets like Texas.📅 Why Tune In?If you are an operator trying to navigate the messy transition from startup hustle to enterprise-level scaling, this conversation is a masterclass. Boston provides a rare, transparent look at the "nos" it takes to get a "yes," the discipline required to raise capital in a down market, and why your business plan shouldn't rely on rescheduling as a lifeline.Keep your spirits high!Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

"Stop shaming my sex and drugs."On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with the incomparable Tanya Griffin, a multihyphenate entrepreneur who is rewriting the rulebook on what it means to be a "professional" in the cannabis industry. From building the first vertically integrated national franchise to navigating the "crash landing" of the Illinois social equity market, Tanya’s journey is a masterclass in resilience, systems-building, and radical honesty.We dive deep into the brutal reality of the Illinois retail landscape—where MSOs use MSAs to bypass store caps—and explore Tanya’s provocative thesis: that "dropping into flow states" through cannabis, intimacy, and wellness isn't just a lifestyle choice, it’s a competitive advantage for scaling high-growth companies.💡 What You’ll Learn:The Illinois "Muddled Mess": An inside look at the X2Vets LLC lawsuit and how MSOs are consolidating power in one of the country's most expensive markets.Franchising vs. Mom & Pop: Can a franchise model provide the operational backbone that social equity operators need to survive against giants like GTI and Cresco?Scaling Sexual Wellness: The "soup-to-nuts" journey of building oOYes, a brand at the intersection of women's health, cannabinoids, and dismantling sexual shame.The Power of Bootstrapping: Why Tanya owns 100% of her companies and her "Crawl, Walk, Run" advice for surviving a market with zero access to traditional capital.🌟 Meet Tanya Griffin:Tanya Griffin is the founder of Water and Trees, a growth management firm, and the visionary behind brands like oOYes and Uh huh Honey. With over 35 years of experience building retail companies (from midwifery clinics to dispensaries), she is a prominent deal-maker and consultant in the Illinois market. Tanya is also a fierce advocate for harm reduction through her nonprofit, Save My Life, which provides free Narcan throughout Illinois.📅 Why Tune In?This isn't your average business podcast. If you’re tired of the corporate "suit and tie" narrative in cannabis and want to hear how raw authenticity and lean operations can win against billion-dollar MSOs, this conversation with Tanya Griffin is required listening.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein are joined by Elliot Lane, Co-Founder and President of IgniteIt. After years of building the cannabis vertical at Benzinga, Elliot and his team are striking out on their own to create a more intentional, high-impact space for cannabis leaders. From navigating the "pure terror" of entrepreneurship to the tactical secrets of building a world-class B2B network, Elliot shares how Ignite It is cutting through the noise to provide the financial and strategic clarity the industry desperately needs in 2026.💡 What You’ll Learn:The Ignite It Origin Story: Why the team moved on from Benzinga to build a focused, niche ecosystem for emerging markets.Tactical Business Development: How Elliot uses curiosity and "leading with value" to crack open relationships in new state markets.The Future of Cannabis Media: How to build a platform that serves as an industry dashboard without adding to the "headline noise."Founder Reality Check: A candid look at the mix of fear, imposter syndrome, and excitement that comes with being a first-time founder in cannabis.🌟 Meet Elliot Lane:Elliot Lane is a seasoned media and events leader and the Co-Founder of IgniteIt. Previously the head of product and sales for Benzinga Cannabis, Elliot was instrumental in turning their conferences into "must-attend" rooms for the industry's elite. With a background in New York City hospitality and the performing arts, he brings a unique ability to read a room and foster genuine human connection, making him one of the most effective networkers in the cannabis and hemp sectors.📅 Why Tune In?Whether you are looking to scale your B2B networking strategy or want an inside look at how the industry’s premier events are actually built, this conversation is a goldmine. Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

On This Week in Cannabis Live, host Jay Rosenthal and Jeremy Berke (Cultivated.news) lead a high-stakes roundtable featuring Ben Larson & AnnaRae Grabstein (High Spirits) and Marc Hauser (Cannabis Musings). Special guest appearance by Bryan Fields of The Dime Podcast.The panel dives into the messy reality of cannabis earnings season, where "creative writing" often masks the bottom line. From the crushing price compression in mature markets like Massachusetts and Colorado to the legislative stalls in Florida and Pennsylvania, the group analyzes who is actually built to survive 2026.💡 What You’ll Learn:The Earnings Illusion: Why "Adjusted EBITDA" is the industry’s favorite smoke screen and how to spot the real financial health of an operator.Price Compression Pain Points: Understanding the data behind $4 grams in Massachusetts and what it means for the future of premiumization.Legislative Gridlock: A deep dive into why Florida’s legalization has stalled and why Pennsylvania’s Governor Shapiro is still "beating the drum" without results.The "Mega-Farm" Factor: How massive 180-acre operations like LEEF are shifting the competitive math for craft growers.Hemp’s Faustian Bargain: A debate on the three-tier distribution system—is it a necessary path to the mainstream or a trap for small brands?🌟 Meet the Panel:This episode features a powerhouse of cannabis insights led by Jay Rosenthal and Jeremy Berke, the editorial voices behind Cultivated. They are joined by Ben Larson & AnnaRae Grabstein, the strategic minds behind the High Spirits podcast, and Marc Hauser, the legal and economic voice of Cannabis Musings. Together, they provide a 360-degree view of the policy, capital, and operational hurdles facing the industry today.📅 Why Tune In?Whether you are an MSO executive or a craft operator, this TWICL roundtable is a masterclass in separating signal from noise. This conversation provides the strategic foresight needed to understand how state-level retail shifts and federal policy uncertainty will impact your bottom line this year.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

On this episode of High Spirits, hosts Ben & AnnaRae forgo the guest chair for a candid, deep-dive conversation into the shifting tides of the industry. From the sobering reality of Tilray’s latest $44M acquisition to the "perfect enforcement" threat of AI, this episode explores the evolution of cannabis leadership and the grit required to stay in the game.💡 What You’ll Learn:The Tilray Strategy: Is Tilray still a cannabis company, or a global CPG powerhouse in disguise? We break down their acquisition of BrewDog and their $850M+ revenue split.AI and "Perfect Enforcement": How agentic AI could shift cannabis regulation from "imperfect oversight" to surgical, automated enforcement of every law on the books.Women in Cannabis: In honor of Women’s History Month, a reflection on leadership, "leaping to freedom," and why process automation is a secret superpower.The Hemp Cliff: A reality check on the looming November deadline and why the industry must stop arguing about concessions and start listening to Congress.🛡️ Why Tune In?If you are an operator or investor trying to make sense of the "fallen from grace" public stocks or the looming technological shifts in regulation, this episode provides a grounded perspective. Ben & AnnaRae cut through the noise to discuss what a "durable" cannabis company actually looks like in 2026.Stay curious, stay informed, and keep your spirits high.“I did not fall from Grace. I lept to freedom.” — AnnaRae sharing the Autobiography of Eve in honor of Women's Month.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

From New York’s bold $4.6 billion market forecast to the unlikely intersection of the Second Amendment and cannabis at the Supreme Court, the team explores the shifting tectonic plates of the U.S. industry. Are we witnessing the "locus of the cannabis world" moving East, or does California still hold the crown?💡 What You’ll Learn:The New York Surge: Why the OCM’s new leadership is projecting a $4.6B market by 2028—and how that stacks up against California.SCOTUS & The Second Amendment: The surprising "habitual drunkard" logic being used to debate cannabis users’ gun rights.Brand Power Rankings: Why edible brands like Wild and Wyld are climbing the charts while flower faces a systemic decline.The Louisiana "Golden Ticket": Analyzing the controversial proposal to give medical licensees a 3-year monopoly on adult-use sales.Cultural Flashpoints: A look at the "smell of weed" debate and why conservative backlash is becoming a key political narrative.🌟 Meet the Guest Panel:This episode features insights from Jeremy Berke (founder of Cultivated), Marc Hauser (cannabis attorney and author of Cannabis Musings), and Jay Rosenthal. Together with Ben & AnnaRae, they provide a cross-disciplinary look at the legal, financial, and cultural trends defining the current cannabis landscape.📅 Why Tune In?Whether you're a multi-state operator (MSO) tracking New York's messy but massive rollout, or a brand strategist wondering why consumers are ditching flower for gummies, this conversation provides the macro context you need to stay ahead. We cut through the political noise to find the real economic signals.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

The federal government has finally acknowledged the "accepted medical use" of cannabis—but for millions of patients, the battle for true integration into the US healthcare system is just beginning. As we face a shifting regulatory landscape, is Schedule III a victory or a trap?About This Episode:In this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein are joined by Steph Sherer, the powerhouse Founder and Executive Director of Americans for Safe Access (ASA). With nearly 25 years of advocacy under her belt, Steph provides a masterclass on the political realities of rescheduling, the critical need for a "Schedule 6" designation, and why the cannabis industry must stop "waiting" for policy to happen to them.From the fallout of the CannaBev Summit in Miami to the nuances of the recent executive orders, this conversation cuts through the noise of social media to reveal what is actually happening in the halls of DC.💡 What You’ll Learn:The Schedule III vs. Schedule 6 Debate: Why moving cannabis to Schedule III helps businesses with taxes but fails to provide the federal framework patients actually need.The "Triage" of State Programs: How current state medical markets were designed as temporary fixes and why it’s time to move toward national integration.The Redefinition of Medicine: Why the FDA's current pathway is broken for complex botanicals and how the proposed Office of Medical Cannabis Control could fix it.The Power of "The Patient": Why simply mentioning the word "patient" remains the most effective tool for shifting the perspective of federal regulators.🌟 Meet Steph Sherer:Steph Sherer is a pioneer in the medical cannabis movement, having founded Americans for Safe Access in 2002 in response to federal raids on California dispensaries. She has trained over 100,000 advocates, worked with the World Health Organization to change international drug treaties, and is currently leading ASA’s "second act" to fully integrate cannabis into the US healthcare system. Steph is widely recognized as one of the most influential advocates in the history of the movement.📅 Why Tune In?Whether you are a hemp operator worried about the Farm Bill or a cannabis executive navigating rescheduling, Steph Sherer explains why the "patient perspective" is the ultimate leverage for long-term industry stability. If you want to understand the difference between social media rumors and DC reality, this episode is essential.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Chicago Atlantic's Steven Ernest, Head of Originations, pulls back the curtain on institutional cannabis lending — from how his firm evaluates operators and underwrites deals, to navigating distressed assets, ESOPs, and the murky road ahead for rescheduling and 280E. If you want to understand how capital really flows in this industry, this is the episode.But before we talk to Steven, a quick catch up: Ben's back from Maui, AnnaRae just returned from Kauai as the newly minted president of organic farming nonprofit WWOOF USA, and both are already packing bags again for the Canna Bev Summit in Miami. They hit two sobering news items: a reefer-madness-flavored California hearing where Assembly member Jaqui Irwin is gunning for tighter cannabis packaging and dosing rules in an already struggling market, and Michigan's 8.3% year-over-year sales drop — a one-two punch of a new 24% wholesale tax and record winter storms hammering operators across the Northeast.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

The 2026 Farm Bill draft is finally on the table, and while the "hemp loophole" remains untouched for now, the industry is already looking toward a post-cliff future. As big tobacco backs Canadian giants in Europe and stadiums open their doors to THC, the landscape of cannabis distribution is shifting under our feet.In this week's edition of This Week in Cannabis Live (TWICL), hosts Jay Rosenthal and Jeremy Berke of Cultivated are joined by Ben Larson (High Spirits) and Marc Hauser (Cannabis Musings) to break down the latest legislative and market movements. From Organigram’s massive €250M move into Germany to the potential for THC beverages to hit New York liquor stores, the panel explores whether the industry is finally moving toward a "layered" regulatory reality.What You’ll Learn:The Farm Bill First Look: Why the initial draft’s silence on hemp-derived THC is both a relief and a warning for operators.The "Canadian Advantage" 2.0: How federal coherence and tobacco backing (BAT) are allowing Canadian LPs to dominate the European medical market.Stadium Status: The significance of the United Center's 3-year THC beverage deal and what it means for consumer discovery.Retail Convergence: A deep dive into the New York bill that could pit liquor stores against dispensaries—and why brands are cheering for it.Risk vs. Revenue: A debate on whether regional distributors will keep moving products if the "hemp cliff" recriminalizes certain cannabinoids.Meet the Panel:This episode features a powerhouse of cannabis experts led by Jay Rosenthal and Jeremy Berke, the editorial voices behind Cultivated. They are joined by Ben Larson, host of High Spirits and seasoned venture catalyst, and Marc Hauser, the legal mind behind Cannabis Musings, to provide a 360-degree view of the industry's most complex hurdles.Why Tune In?Whether you are an MSO executive or a hemp beverage startup, the rules of distribution are being rewritten this month. This episode provides the strategic foresight needed to understand how federal policy, international M&A, and state-level retail shifts will impact your bottom line in 2026.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

THC% might be the most overused number in cannabis—and it’s not helping consumers make better choices. In this episode, Ben nerds out with Dr. Riley Kirk on what actually drives effects, why “nose knows” matters, and how cannabis science can (and should) live outside academic journals.-Ben Larson (solo this week while AnnaRae is off-grid in Kauai) welcomes Dr. Riley Kirk—PhD cannabis scientist, educator, and author of Reefer Wellness—for a conversation that bridges plant chemistry, consumer behavior, and real-world harm reduction. They unpack why flower delivers a “natural ratio” of compounds that’s hard to replicate in modern formulations, why skunky/gassy aromas often come from sulfur compounds (not terpenes), and how consumers can use sensory cues to find the right experience.They also dig into the realities of cannabis education in the social media era—how Dr. Kirk built a massive audience on TikTok during COVID, what censorship changed, and why she ultimately pushed her science into a book deal with Penguin Random House. Plus: the surprising data behind why ~1 in 5 people may not feel edibles, and what the industry should be funding if it wants better labeling, better products, and better outcomes.💡 What You’ll LearnWhy THC% is a weak predictor of effects—and how to shop using aroma (“nose knows”)What creates skunky, gassy, and fruity profiles (and why it’s not always terpenes)Why Dr. Kirk believes flower offers a “natural ratio” vs. ultra-fortified vapes and formulationsThe roles of CBG and CBC—and why combusting CBC can convert it into CBLWhy ~20% of people may not feel edibles, and the leading metabolism/genetics explanationHow dry herb vaping can be a practical harm-reduction alternative to combustionWhat real-world data studies can reveal when you connect consumer experience to COAsHow Dr. Kirk used short-form education to land a major publishing deal—and what surprised her about book marketing today🌿 Meet the Guest: Dr. Riley KirkDr. Riley Kirk is a cannabis scientist and educator focused on plant chemistry and real-world consumer research. She co-founded the nonprofit Network of Applied Pharmacognosy (NAP), teaches Cannabis as Medicine at Vermont State University, and hosts cannabis science content online as @CannaBiChem. She’s also the author of Reefer Wellness, published by Penguin Random House, translating cannabis science into accessible guidance for everyday consumers.🎧 Why Tune In?Whether you’re building products, educating customers, or just trying to find cannabis that reliHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

The cannabis industry is getting squeezed from every angle—state AGs, ballot fights, and a federal regulator that can’t hit a deadline. On this week’s High Spirits business news roundup, Ben Larson and AnnaRae Grabstein break down the stories shaping operator strategy right now.Episode #125 dives into Ohio’s escalating “legalization meets enforcement” showdown, including an antitrust lawsuit targeting major MSOs—and the messy split between regulated cannabis and hemp interests. Then it’s down to Texas, where the medical program is finally showing real growth… even as adult-use remains politically off-limits. We close with the FDA’s missed hemp guidance deadline and a notable bright spot: $15M raised to scale THC beverages nationwide.What You’ll LearnWhat Ohio’s MSO antitrust lawsuit could mean for vertical integration and pricing scrutinyWhy limited-license, vertically integrated markets create “accidental collusion” incentivesHow Texas’ medical program expansion changes the opportunity (and risk) for operatorsWhat recent ballot wins/losses in Maine, Florida, Massachusetts, Pennsylvania signal for 2026Why the FDA’s missed deadline adds more uncertainty for hemp cannabinoids and enforcementWhat Willlie’s Remedy’s $15M raise says about where capital still believes in cannabis-adjacent growthHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

From Olympic hockey banter to Washington politics and THC drinks at major arenas, this episode proves there’s never a slow week in cannabis. AnnaRae joins a familiar roundtable to unpack policy signals, market stress, and why beverages keep stealing the spotlight.About This EpisodeOn this week’s edition of This Week in Cannabis Live, Jay Rosenthal is joined by Jeremy Berke, Marc Hauser, and AnnaRae Grabstein for a wide-ranging conversation on the state of the industry. Topics include Senator Kirsten Gillibrand’s candid take on cannabis reform, GTI/Rhythm’s THC beverages landing at the United Center, MSO financial distress, and a surprise capital raise from Willie Nelson’s THC beverage brand.AnnaRae also digs into what these headlines mean for operators navigating policy uncertainty, capital constraints, and shifting consumer behavior.💡 What You’ll LearnWhat Senator Kirsten Gillibrand’s comments signal about cannabis reform under a Trump administrationWhy THC beverages are breaking into arenas, concerts, and hospitality venuesHow MSO distress (including asset sales and forbearance agreements) reflects a broader industry resetWhy Willie’s Remedy raising $15M surprised many investorsWhat New York’s Brand Power Rankings reveal about local vs. national cannabis brandsHow policy uncertainty is freezing capital—and where momentum still existsHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

THC beverages are officially hitting the big leagues—and Chicago’s United Center is the proof point. In Episode 124 of High Spirits, hosts Ben Larson and AnnaRae Grabstein sit down with Rick Schepp (GM of Beverage, Señorita & RYTHM) and Charles Bieler (Co-Founder, Señorita) to unpack what it really takes to build hemp-derived THC drinks that can scale into major venues, national retail, and mass culture.From on-premise conversion and the power of sampling, to effect-led product strategy and the looming “hemp ban” uncertainty, this conversation gets into the operational reality behind the headlines—and why low-dose beverages may be the clearest bridge between cannabis and everyday consumers.What You’ll LearnHow the United Center deal came together—and what it signals for concerts, sports, and mainstream adoptionWhy sampling is the #1 lever for driving trial and repeat purchases in THC beveragesWhat “scale” actually requires: supply chain readiness, retailer support, and customer-first executionThe difference between hemp retail vs. dispensary channels—and how dosage shapes the lineHow Rhythm is approaching effect-based beverages (uplift vs. wind-down) to mirror real cannabis use casesHow leaders are scenario-planning for 2026 policy uncertainty without freezing growthMeet the GuestsRick Schepp is the General Manager of Beverage at RYTHM, where he leads strategy, innovation, and commercialization for its THC beverage portfolio, including Señorita. With prior leadership roles at Beam Suntory and experience at Boston Consulting Group, Rick brings a rare blend of CPG rigor and cannabis-specific insight to one of the industry’s fastest-growing categories.Charles Bieler is a veteran beverage entrepreneur and Co-Founder of Señorita. Best known for his award-winning wine portfolio at Bieler Wines, Charles applies decades of winemaking expertise—flavor structure, ingredient integrity, and balance—to THC margaritas, helping elevate cannabis beverages from novelty to legitimate category.Why Tune In?If you’re building in cannabis, hemp, or beverages, this episode is a practical roadmap for navigating retail realities, policy turbulence, and the cultural shift toward low-dose alternatives—without losing sight of what consumers actually want.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Policy and regulation across cannabis and hemp are shifting fast—and operators don’t get to pause the business while Washington debates definitions.On Episode 123 of High Spirits, Ben Larson and AnnaRae Grabstein sit down with Thomas Winstanley, EVP of edibles.com, to unpack what it actually looks like to build and operate through policy uncertainty. From the urgency of 2026 (“do or die”) to the reality that “waiting for clarity” isn’t a strategy, Thomas shares how his team is planning in scenarios, engaging policymakers, and pushing for a framework that preserves consumer access while drawing a real line between good actors and bad actors.They also zoom out to the market signals shaping this moment—like United Center’s multi-year THC beverage deal with GTI and the rise of employee ownership structures (ESOPs)—and why curated product strategies (not endless SKU sprawl) may be the most resilient way to grow.What You’ll LearnWhere advocacy is actually being focused as federal hemp policy heats upHow to “operate while the rules are still being written” without losing business momentumWhy Thomas sees 2026 as a defining year—and what a realistic path forward could includeHow to plan with contingencies (worst / middle / best case) when the regulatory floor could shiftWhy unity across competing interests matters—and how to have the hard conversations productivelyThe consumer shift toward low-dose, ratioed products (THC + CBD) as a mainstream on-rampWhy Tune In? If you’re leading a cannabis or hemp business right now, this conversation is a tactical gut-check: how to stay proactive, keep building, and engage in advocacy without getting pulled off mission—especially when certainty isn’t on the table.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

In this edition of This Week in Cannabis Live, our host Ben Larson joins Jay Rosenthal & Jeremy Berke of Cultivated and Marc Hauser of Cannabis Musings for a fast-moving, no-BS conversation on the biggest stories shaping cannabis right now. From Schedule III claims and missed DOJ deadlines to a surprise hemp bill, New York’s track-and-trace chaos, and the realities behind M&A headlines, this episode is all signal, no fluff.What You’ll Learn:Why cannabis rescheduling is still very much unfinished businessWhat the new “CBD bill” could mean for hemp, THC limits, and regulatory convergenceHow FDA inaction continues to stall real market clarityThe hidden costs and legal risks of New York’s delayed track-and-trace rolloutWhether 2026 will truly be an M&A boom—or just distressed deal-makingWhy regulatory capture, compliance costs, and IP disputes are becoming defining industry risksMeet the Panel:Jay Rosenthal (Cultivated), Jeremy Berke (Cultivated), Marc Hauser (Cannabis Musings), and Ben Larson (High Spirits) bring investor, legal, operator, and media perspectives together for a grounded, sometimes skeptical, always informed take on the week in cannabis. This is real-time analysis from people deeply embedded in the industry’s policy and business trenches.Why Tune In?If you want to understand what’s actually changing—and what’s just being marketed as progress—this episode delivers context, candor, and critical insight every cannabis operator, executive, and investor needs right now.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Cannabis is leaving its “startup era”—and the next phase won’t be won by hype. It’ll be won by operators who can build trust, standardize the experience, and run tighter businesses in a margin-crushed market.On Episode 122 of High Spirits, hosts Ben & AnnaRae sit down with Ashwin Raj, CEO of LeafLink, to unpack what he’s seeing from the center of cannabis wholesale—where billions in transactions reveal the real signals of industry health. Ashwin draws sharp parallels to ride-sharing and e-commerce, and makes the case that consumer education, product standards, and tech-driven compliance are the keys to unlocking the next wave of growth.They also go inside LeafLink’s pricing-model backlash (and reversal), the strategic logic behind acquiring DAMA Financial, and why the industry’s biggest bottlenecks aren’t just regulatory—they’re operational.What You’ll LearnWhy consumer education + product standards are still a massive gap in cannabis (especially vs. alcohol)The “signals from the middle” LeafLink sees that predict operator distress before it hits the headlinesHow policy decisions (like license caps or overload) drive price compression and market instabilityWhat Ashwin learned from the LeafLink pricing uproar—and why predictability matters in cannabisHow the DAMA Financial acquisition connects payments, AR/AP, and compliance into one systemVerticalization vs. specialization: what’s winning now—and what likely wins long-termMeet the GuestAshwin Raj is the CEO of LeafLink, a platform at the center of cannabis wholesale powering billions in transactions across thousands of companies. Before cannabis, Ashwin led in industries that scaled ahead of regulation—holding leadership roles at Lyft, Amazon, and ezCater across marketplaces, payments, and operational infrastructure. He brings a “build for the long term” mindset to cannabis, with a clear emphasis on listening to customers, simplifying complexity, and using tech to turn compliance into confidence.Why Tune In?Because this episode isn’t about wishful thinking—it’s about what the data actually says. If you’re an operator, brand, retailer, or investor trying to survive (and win) the next phase of cannabis, Ashwin’s “middle-of-the-market” view will sharpen your strategy fast.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Two of the most durable edibles brands in cannabis just joined forces—and the backstory is pure “mature-market grit.” On Episode 121 of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Aaron Morris (Founder & CEO of Wyld) and Draper Bender (President of Grön) for their first interview together following Wyld’s acquisition of Grön.They unpack why Oregon breeds profitable operators, how “market compressions” shape winning playbooks, and what it takes to build a real national platform in cannabis without hype, bankers, or venture-fueled burn. Plus: a rapid-fire policy rundown—from the federal “Baird bill” hemp delay to state-by-state adult-use pushes and rollback campaigns—setting the stage for what 2026 could mean for operators.What You’ll LearnWhy Oregon’s repeated price compressions create tougher (and better-prepared) brandsHow Wyld and Grön scaled with distribution-first strategy and strong retail relationshipsWhat “one plus one equals five” actually looks like when two profitable operators combineThe real role of form factor + product consistency in consumer loyalty (and why “innovation” is often overrated)How they think about hemp vs. regulated cannabis distribution—and what’s changing fast in 2026Why most cannabis M&A dies at the finish line… and how this one got doneMeet the GuestsAaron Morris is the CEO of Wyld, one of the largest edibles companies in the U.S., known for disciplined execution, quality, and a distribution engine built to scale. Draper Bender is the President of Grön, the brand behind the iconic Pearls and Megas—playful products with serious operational rigor and deep retail relationships.Why Tune In?If you’re building in cannabis through margin pressure, policy whiplash, and retail gatekeeping, this episode is a masterclass in durability, distribution, and dealmaking the hard way—from two operators who’ve already survived multiple rounds of compression and came out bigger.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

What actually changes for cannabis in 2026—and what’s still just wishful thinking? Join the teams from Cultivated Media, High Spirits: The Cannabis Business Podcast, and Cannabis Musings for This Week in Cannabis Live | 2026 Prediction Show. From rescheduling realities and 280E implications to M&A strategy, hemp-derived beverages, and where not to start a cannabis business, this conversation cuts through the noise with grounded, operator-first insight.What You’ll Learn:Why rescheduling may help strong operators—but won’t save bad businessesAnnaRae’s take on why “Big CPG is coming” is still mostly hype for 2026Whether 2026 is the year to buy cannabis assets—or stay patientWhat actually gets easier if 280E goes away (and what stays broken)The uncertain future of hemp-derived THC beverages and low-dose carveoutsWhich parts of the cannabis value chain to avoid entirely right nowWhy Tune In? If you’re a cannabis or hemp operator trying to separate real opportunity from recycled narratives, this episode delivers clarity. AnnaRae’s predictions aren’t about hype—they’re about timing, discipline, and surviving long enough to win.Catch This Week in Cannabis Live on LinkedIn with Cultivated every Friday @ 9AM PT / 12PM ET.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

New year, new signals—and cannabis is entering 2026 with policy momentum, consolidation heat, and a growing demand for real numbers (not vibes). In Episode 120 of High Spirits, hosts Ben Larson  & AnnaRae Grabstein sit down with Cy Scott, Co-Founder & CEO of Headset, to break down what 2025 actually told us—and what to watch as rescheduling moves forward and markets keep maturing.From New York’s explosive growth to the margin squeeze hitting legacy states like California and Michigan, Cy brings a data-driven lens to the questions operators and investors are asking right now: Where is growth still real? Why do prices keep falling in mature markets? And how could Schedule III reshape profitability, M&A, and investment appetite across the industry?What You’ll LearnThe biggest 2025 market storylines (and why New York is still “emerging”)What price compression is really doing to top-line sales and retailer survivalHow discounting impacts baskets, margins, and the downstream supply chainThe potential financial upside of rescheduling—especially via 280E reliefWhy cannabis retail data may be more reliable than traditional CPG measurementHow hemp beverages and mainstream retail exposure could reshape consumer adoptionMeet the GuestCy Scott is the Co-Founder & CEO of Headset, a leading cannabis retail data and analytics platform used by brands, retailers, and investors to understand market performance in real time. Before Headset, Cy co-founded Leafly, helping define early consumer discovery in legal cannabis—and he’s been building in the space since the industry’s earliest days.Why Tune In?Because 2026 won’t reward guesswork. If you’re making bets on growth, pricing, capital, or brand strategy this year, this episode helps you read the signals—and stay ahead of what rescheduling, consolidation, and consumer behavior are about to change.y0VRUCtHX8mBEyMyDDdbHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

It’s a cozy year-end check-in—and a clear-eyed look at what’s next. Recorded Tuesday, December 30, 2025, Ben & AnnaRae close out the year by revisiting their 2025 predictions, unpacking what actually happened across regulated cannabis and hemp-derived THC, and setting the tone for 2026: faster, sharper, and more focused.From the surreal experience of finding cannabis policy debates in a 1969 Playboy issue to today’s rescheduling whiplash, this episode zooms out on the long arc of reform—and zooms in on what operators should be watching right now: enforcement, consolidation, mainstream retail adoption, and the fight for sensible regulation.What You’ll LearnWhich 2025 predictions came true (Farm Bill punt, beverages gaining share) — and which didn’tWhy **states—not feds—**continue to shape enforcement (and where that breaks down)The real outlook on rescheduling vs. descheduling and why “it’s not enough” is the next phaseHow THC beverages are winning consumer mindshare—and pulling mainstream retail along with themWhat consolidation actually looked like in 2025 (and why the “real M&A wave” may still be ahead)Why 2026 demands speed, clarity, and fundamentals—aka the “Fire Horse” mindsetHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

On this special This Week in Cannabis episode Presented by Cultivated Media, High Spirits hosts Ben & AnnaRae join Jay & Jeremy from Cultivated and Marc Hauser of Cannabis Musings to break down the biggest cannabis policy story of the year: the federal push to reschedule marijuana to Schedule III.Recorded live just days after the announcement, this conversation cuts through the hype to examine what actually changes—and what still hangs in the balance—for cannabis, hemp, banking, and dealmaking.Tune in Fridays at 9AM PT / 12PM ET at youtube.com/@CultivatedMedia.What You’ll Learn:What cannabis rescheduling to Schedule III actually does—and doesn’t—changeWhy 280E relief is the real financial unlock operators are watchingHow rulemaking, lawsuits, and Congressional action could still derail progressWhat this moment means for hemp-derived THC, CBD, and the Farm Bill fightWhy deal flow, M&A, and market volatility may surge in early 2026The myths around SAFE Banking, uplisting, and credit card acceptanceMeet the Panel: This episode features insights from Jay Rosenthal and Jeremy Burke of Cultivated Media, Marc Hauser of Cannabis Musings, alongside Ben Larson & AnnaRae Grabstein of High Spirits. Together, they bring perspectives from policy, media, finance, and operations to unpack one of the most consequential weeks in cannabis history.Why Tune In? If you’re a cannabis or hemp operator trying to separate real opportunity from political theater, this episode is essential listening. The headlines say “historic”—this conversation explains what survival, growth, and strategy actually look like next.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

This episode of High Spirits is a little different. Recorded live just days before a major federal shakeup, hosts Ben & AnnaRae dive headfirst into the state of cannabis media, policy uncertainty, and what survival really looks like heading into 2026.From the collapse of trusted cannabis journalism to bold predictions around Schedule III, hemp legislation, M&A, and THC beverages, this conversation captures the raw, unfiltered realities of an industry that refuses to die—even when no one seems to be watching. Despite technical issues early in the live recording, the second half delivers a powerful, timely discussion.🔍 What You’ll LearnWhy the collapse of cannabis media creates real risks for operators and policymakersHow fewer reporters and less oversight impacts enforcement, compliance, and public perceptionWhat rescheduling to Schedule III might (and might not) actually changePredictions for 2026: M&A, receiverships, and alcohol’s move into THC beveragesWhy hemp and cannabis brands may need unified strategies to surviveThe unexpected optimism behind an industry that keeps adapting—cockroach-style🎙 About This EpisodeBen and AnnaRae reflect on the responsibility of independent cannabis media amid newsroom layoffs at outlets like The Wall Street Journal, Politico, and MJBiz. They also highlight the importance of supporting investigative journalism from platforms like Weed Week and Cultivated—because when no one is watching, bad policy thrives.🌱 Why Tune In?If you work in cannabis, hemp, beverages, or adjacent industries, this episode offers clarity, realism, and hard-earned optimism. It’s a reminder that even in chaos, this plant—and the people building around it—are shaping one of the next great American industries. Survival isn’t optional, but neither is hope.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Recorded live on December 5th from Las Vegas, this recording of "This Morning in Cannabis Live" brings together industry leaders, entrepreneurs, and experts for candid conversations about the current state and future of cannabis and hemp. The hosts—Jay Rosenthal, AnnaRae Grabstein, Marc Hauser, and Jeremy Berke—guide discussions on rapid business growth, regulatory challenges, market innovation, and the importance of advocacy and data-driven decision-making.The episode features in-depth interviews with executives, attorneys, journalists, and scientists, offering insights into scaling cannabis businesses, navigating shifting policies, and driving product innovation. From the realities of launching new markets to the science of cannabinoids and the power of industry collaboration, this episode provides a comprehensive look at the evolving cannabis landscape.Guests and Timestamps:Kim Sanchez Rael (Azuca)Starts at ~2:06Discusses Azuca’s growth, quality partnerships, ingredient branding, and the challenges of scaling in cannabis.Jason Tarasek (Vicente LLP)Starts at ~30:16Covers Minnesota’s cannabis rollout, federal and state policy impacts, and the prospects for medical cannabis in Wisconsin.Jeremy Berke Arrives (Cultivated)Starts at ~52:00Shares perspectives on industry trends, the capital crunch, and the role of journalism in cannabis.Rick Bashkoff (Lit Alerts)Starts at ~1:09:00Explains how data is transforming cannabis business decisions and the need for industry-wide advocacy.Chris Emerson (LEVEL)Starts at ~1:22:00Explores cannabinoid innovation, consumer education, and the challenges of multi-state expansion.Hosts:Jay Rosenthal, AnnaRae Grabstein, Jeremy Berke, Marc HauserHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Recorded Live on December 3rd from Las Vegas, this special episode of "This Week in Cannabis" brings together industry leaders and insiders to discuss the latest trends, challenges, and opportunities in the cannabis and hemp sectors. We dive into federal policy, market expansion, retail innovation, and the evolving landscape of cannabis journalism. Featuring in-depth interviews with entrepreneurs, executives, and retailers, the episode offers a candid look at the state of the industry, from regulatory hurdles to product innovation and community building.Guests and Timestamps:Thomas Winstanley (Edibles.com)Starts at ~2:08 Discussion on hemp-derived THC, federal policy, and the future of edibles and consumer access.Vahan Ajamian (High Tide)Starts at ~23:23 Insights on High Tide’s expansion into Germany, the dynamics of the German cannabis market, and international retail strategy.John Prentice (JointCraft, "Pre-Roll King of Canada")Starts at ~39:39 Covers the evolution of pre-roll manufacturing, scaling production, quality control, and the importance of specialization in cannabis business.Chris Casacchia (Journalist, Cultivated/MJBiz)Starts at ~1:14:03 Explores the state of cannabis journalism, the impact of media coverage on the industry, and regulatory issues in New York and beyond.Elisa Keay (K's Pot Shop, Toronto)Starts at ~2:01:51 Shares lessons from running a community-focused cannabis retail store, navigating licensing, competition, and building customer loyalty.Hosts:Jay Rosenthal, Marc Hauser, AnnaRae Grabstein, Ben Larson, Jeremy BerkeHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

The mics take a breather, but the cannabis market doesn’t. We’re wheels up for MJBizCon and our High Spirits Morning Mixer on Thursday, and then straight to BevNET, while state and federal moves reshape the map from Texas to Virginia to Minnesota to California.We start with Texas, where regulators approved nine new medical licenses in a historically tight program. It’s a modest step with big implications: recognition that demand is outpacing capacity, but who will be the winners? For operators eyeing long-term positioning, Texas remains a massive, underdeveloped prize where patience, compliance, and local partnerships can compound.Minnesota faces a different pressure: the looming federal hemp THC ban embedded in a congressional minibus. The state’s hemp-derived THC market—thousands of retailers and strong consumer buy-in—could be gutted overnight. The governor is exploring rapid rulemaking, carve-outs, and potential court challenges to protect businesses until adult use retail is fully stood up. How Minnesota responds may become the national playbook for preserving economic activity amid federal whiplash.Virginia looks ready to convert legalization on paper into real stores. A bill targeting adult use sales in 2026 would finally establish a regulated retail framework, address social equity, and balance political priorities after years of stalls and illicit market growth. If it moves, Virginia could become the first Southern state with full adult use, forcing regional recalculations and opening a high-potential market.And California turns the screws on packaging. With a new top regulator and CalRecycle implementing SB54, brands must enroll in a PRO, report packaging at the SKU level, plan for recyclability and compostability by 2032, and meet aggressive plastic recycling targets. Expect cost shifts, supplier consolidation, and innovation in materials, especially for vapes and multi-layer plastics. The winners will treat compliance as strategy, integrating sustainability into brand and supply chain decisions.Headed to Vegas? Come say hi at the High Spirits Morning Mixer on Thursday. If this breakdown helped you navigate the noise, follow, share, and leave a quick review—what state move should we unpack next?Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We unpack the 365-day clock facing hemp-derived THC beverages, why the category exploded, and how a policy rider vaulted prohibition-style limits into law. Martín Caballero of BevNet joins us to map realistic paths forward, where coalition power lives, and what compromises might actually work.• why hemp-derived THC drinks resonated with mainstream shoppers• how a funding bill rider created the new 0.4 mg per package limit• why fragmented advocacy loses to unified, well-funded lobbies• lessons from retailers and distributors who want the shelf to stay• a pragmatic path: low-dose through three tiers, higher dose in cannabis channels• why beverages won’t simply shift to illicit markets or dispensaries• what data, packaging, and age-gating standards could secure legitimacy• the role of investors, timelines, and state-level regulators• scenarios for compromise without collapsing innovationIf you've enjoyed this episode, please stop, like, subscribe, share, do all the thingsHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We unpack the federal push to restrict hemp products, then turn to a grounded model for the future: regenerative organic cannabis. Darren Story from Coastal Sun shares how soil health lowers costs, why OCAL matters, and how compassion and affordability can scale.• hemp policy shock and what it means for access• lessons for advocacy and industry unity• Darren’s path from blueberries to cannabis• WAM partnership and medical-first roots• OCAL certification and consumer education• regenerative farming practices and cost• navigating DCC rules and animal integration• brand positioning and diverse consumers• greenhouse tech for organic at scale• expansion via teaching and partnerships• wellness ethos, leadership, and discipline• affordability, SP34 donations, and unit economics• measured growth and a five-year visionSign up to apply for an invite: highspiritspod.com/morning-mixerIf you've enjoyed this episode, please stop, like, subscribe, share, do all the thingsHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We explore how local elections shape cannabis policy on the ground, then dive into the real map of cannabis patents with Dr. Ruth Fisher. She explains who holds the IP, why enforcement is scarce for now, and how one big verdict could change the industry overnight.• grounding in stoicism and local civic action• breaking news on recalls and lawsuits in New York and Florida• Dr. Ruth Fisher on 10,000+ cannabis patents and prior art• global patent holders across pharma, tobacco, academia, and government• patent thickets versus single filings and why enforcement is rare• plant patents, phenotype variation, and proof of similarity• synthetics, biomanufacturing with yeast, and conversion patents• damages explained: royalties versus lost profits and documentation• delivery tech surge, including emulsions and beverages• optimism for innovation, concern over fragmented regulation• case for descheduling and one coherent frameworkGet The Medical Cannabis Primer at medicalcannabisprimer.com or on Amazon. Connect with Ruth on LinkedIn.“If you've enjoyed this episode, please drop a review on Apple Podcasts, Spotify, or wherever you listen to your podcasts.”Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We explore how hemp-derived THC beverages are redefining adult drinking, why big brands hesitate while startups build, and how “vice wellness” turns ritual into wellness-driven status. Jeff Cantalupo of Listen Ventures shares what gets a VC to yes, how portfolios form, and where retail wins.• consumer demand driving THC beverage mainstream adoption• integration of life lessons into leadership and team communication• news on lawsuits and AG letters shaping risk perception• why incumbents buy innovation and how that opens a window for startups• the vice wellness thesis and behavior shifts in adult beverages• merchandising for outcomes and occasions, not alcohol types• channels that matter now: DTC labs, C stores, grocery, delivery• what VCs look for: team, brand acumen, omnichannel activation• margin structure, capital efficiency, and unit economics at scale• vertical versus asset light supply strategies and tradeoffs• brands to watch and how true brands differ from products• practical risk framing: stroke of the pen versus consumer pullIf you've enjoyed this episode, please drop us a like, a subscribe, a follow, a share. Drop a review on Apple Podcasts, Spotify, wherever you listen to your showsHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We unpack why cannabis retail still can’t run on normal card rails, how debit and alternative payments increase average tickets, and what federal legality would actually change. Aubrey Amatelli of PayRio shares data, pitfalls, and a playbook for safer, smoother checkout.• why Visa and Mastercard rules block standard cannabis card payments• cashless ATM and debit as the current stable rails• 34% average ticket lift moving from cash to debit• 22–27% additional lift when adding credit options• safety risks of cash-heavy operations and theft exposure• stigma reinforced by nonstandard checkout experiences• differences between hemp and cannabis processing• COAs, 0.3% THC threshold, and bank compliance for hemp e‑com• MATCH list risks and website monitoring• state of banking access for cannabis vs hemp• why SAFE or Schedule III won’t fully normalize payments• founder journey, brand choices, and community support• call to support women entrepreneurs across the cannabis spaceIf you've enjoyed this episode, please drop us a review on Apple Podcasts, Spotify, or wherever you listen to your showHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We dig into the rise of THC beverages from dispensary side racks to big-box end caps, then peel back how Uncle Arnie’s raised $7.5M, built distribution state by state, and scaled a team while staying scrappy. Theo shares lessons on dosage, education, and why focused markets beat scattershot launches.• Target’s Minnesota pilot and retail data signals• Ohio’s 90-day hemp ban and policy risks• Uncle Arnie’s Series A and investor sentiment shift• Dispensary versus hemp channels by dosage• Distribution selection and portfolio discipline• Merchandising strategy for cans and shots• Education programs for staff, retailers, and consumers• Scaling leadership, hiring, and culture• Predictions on national distributors and retailer pilotsIf you've enjoyed this episode, please drop us a review on Apple Podcasts, Spotify, or wherever you listen to this showHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We unpack how a federal shutdown freezes cannabis policy progress, why Michigan’s new 24% tax risks shrinking the legal market, and how a Vireo–Schwazze restructuring signals financial maturity. We close with a live “Ode to California” challenging protectionism and calling for true access and scale.• federal shutdown halting rescheduling, farm bill momentum and appropriations• behind the scenes lobbying dynamics during a pause• Michigan’s 24% wholesale tax and illicit market advantage• punitive taxes vs consumer safety and access• regulator influence, misaligned incentives and CAMRA limits• Vireo acquiring Schwazze debt as a restructuring blueprint• debt service vs operational profitability and MSO viability• Mana Beverages exit, AB 8 and blocked hemp beverage scale• interstate scale, GMP quality and real QA vs state silos• LeafLink pricing backlash, rollback and customer-first lessons• conference season, planning cadence and community support• live reading: “Ode to California” and a vision for legalization with accessIf you've enjoyed this podcast, please drop a review in Apple Podcast, in Spotify, wherever you listen. Subscribe, share, do all the things like I askedHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We trace how a headline-grabbing CBD moment collided with the realities of cannabis policy, then dive into Levia’s rare founder buyback to unpack brand trust, dual-channel strategy, and what it takes to build consistent, safe, and truly approachable THC beverages. The conversation blends practical deal lessons, product innovation, and senior-focused education with a call for higher standards across hemp and regulated markets.• CBD spotlight from a US president and stock whiplash• Schedule III signaling and partisan calculus• Why hemp access reframed consumer entry points• Levia’s effects-led positioning and clear seltzer choice• Vertical control, CO2 extraction, and consistency• Deal timeline, regulatory gauntlet, and post-exit roles• Hemp’s shift from loophole to long-term strategy• Mechanics and patience behind the buyback from a public company• Innovation pipeline: flavorless high-dose drops and minors• Seniors, harm reduction, and physician-backed education• Dual-channel plan: regulated and hemp together• Raising standards: batch testing, responsible placement, COAs• Brand trust as the true moat in beverages• Advocacy on incarceration, equity, and consumer safetyLike it, subscribe it, share it, do all the thingsStay curious, stay informed, and keep your spirits highHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Elliot Lewis, CEO of Catalyst Cannabis and famously dubbed "the angriest weed CEO in California," pulls no punches in this revealing conversation about the state of California's cannabis industry. Having built Catalyst into one of California's largest retail chains with over 25 stores, Lewis speaks from experience when he describes the maddening reality of operating under excessive regulation and taxation.The conversation begins with Lewis reflecting on his journey from Berkeley student during the Prop 215 era to cannabis entrepreneur, acknowledging the unexpected path that led him to become California's second-largest cannabis retailer. "I only just wanted to get the one store," Lewis admits, "Somehow becoming the second largest retailer in the state wasn't really part of the plan."Lewis delivers a scathing critique of how cannabis tax dollars are allocated, claiming the money flows to nonprofits that don't truly serve their stated causes. "The money that is going to the nonprofits doesn't really get down to the causes they claim to be for, but they have really nice fancy words that everybody likes and makes them feel virtuous to support these causes. But really it's just a bunch of grifting," he explains. According to Lewis, this creates "a closed-loop system of money laundering that keeps the current power brokers in power."The discussion takes a fascinating turn when the conversation shifts to hemp, which Lewis characterizes as "untaxed weed" operating through regulatory loopholes. This sparks a spirited debate about consumer access, testing standards, and whether the hemp market represents genuine progress or simply another way to circumvent proper regulation. Lewis argues that hemp's success demonstrates how powerful the free market could be if cannabis wasn't burdened by excessive taxation and regulation.Looking to the future, Lewis predicts that major alcohol and tobacco companies will eventually enter the space and reshape the industry with their lobbying power. Despite his frustrations, he continues to advocate for "weed for the people" while navigating the challenging realities of California's cannabis landscape.Whether you're a cannabis operator, investor, or simply interested in understanding the complex dynamics of America's largest cannabis market, this episode offers unfiltered insights from someone fighting on the front lines of California's cannabis experiment.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Marianne Cursetjee shares how she transformed from cancer patient to cannabis entrepreneur, building Alibi into a premium brand now expanding from Oregon to New York through strategic licensing partnerships.• Breast cancer diagnosis in 2015 led to discovering cannabis's healing potential• Built Alibi Cannabis in Oregon with a focus on premium indoor flower and adventure-focused branding• Butterfly imagery represents breaking down walls for true connection and community• Took five years of relationship-building before entering the New York market• Chose licensing partnerships over owning supply chain for efficient expansion• Reached cashflow positive in New York within five months, beating six-month projection• Field marketing and authentic community engagement drive brand recognition• Previous expansion attempts in Massachusetts and Arizona provided valuable lessons• Maintaining financial discipline with "no debt" philosophy critical for survival• Hand-trimming flower despite representing 20% of costs aligns with quality values• New York cannabis market reached $2 billion in sales, with favorable energy compared to mature markets• Looking at New Jersey and potentially European markets for future growthVisit alibico.com or follow @alibiny on Instagram to learn more about their products and expansion journey.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Cameron Clarke, CEO of Sunderstorm and the Kanha brand, shares his journey of building a global cannabis wellness brand and navigating the complexities of international markets.• Started in California in 2015, believing that success there would translate to success anywhere• Expanded nationally in 2019-2020 after becoming a top 10 brand in California• Entered Thailand in 2022, becoming one of the first Western cannabis brands in Asia• Pioneered nanotechnology in cannabis products ten years ago to create fast-acting effects• Different markets show varying preferences between nano and classic gummies• Australia operates as "a recreational market masquerading as a medical market"• The UK cannabis patient count could reach 100,000 by year-end from current 50,000-60,000• Thailand, Canada, and South Africa are emerging as key global suppliers of cannabis flower• Cannabis tourism is growing rapidly, particularly in Thailand and the Netherlands• Partnered with Beach Samui resort in Thailand to create an integrated cannabis wellness experience• Preparing to open EU GMP manufacturing in North Macedonia to serve European markets• Focuses all business decisions on how they contribute to building the Kanha brandEnter our 10-year anniversary sweepstakes for a chance to win a free trip to Thailand and stay at the Beach Samui Resort, where you can consume cannabis and have a great time. Visit kanhabliss.com to enter before the drawing in early January 2026.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Lulu Tsui, co-founder of On the Revel, shares her journey from Bloomberg to becoming the "Queen of New York Cannabis" and how she's building authentic community in the East Coast market. She reveals how New York's cannabis industry has developed its own unique business culture focused on directness, accountability, and community standards.• Raised in Eugene, Oregon by cannabis-friendly "aunties and uncles" after moving from communist China in 1979• Started in tech in 1994, worked with Bloomberg and other major companies before entering cannabis• Co-founded On the Revel with Jacoby Holland to create inclusive cannabis industry events• New York cannabis market has over 450 licensed retailers with approximately 80% being social equity operators• East Coast business culture emphasizes direct communication and face-to-face relationships• Different consumption patterns in New York with higher demand for discrete products like vapes and edibles• Community boards play crucial role in local licensing and neighborhood acceptance• Maintains a "clean pool" philosophy by only working with respectful industry partners• Building diverse team with varied expertise including legal, scientific, and marketing backgrounds• Revelry event coming September 12th with 200+ brands and 400+ retail buyers• Planning to launch psychedelics conference in 2026Join us at Revelry in New York to experience the East Coast cannabis industry firsthand and witness the incredible community that's been built.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Former NCIA CEO Aaron Smith shares his insights after 20 years leading cannabis policy reform, reflecting on the evolution from medical advocacy to today's complex marketplace and the challenges of federal reform.• The cannabis industry has seen remarkable progress over two decades, with support for reform growing from just two members of Congress to majorities in both chambers• Current regulatory structures represent a compromise, not the alcohol-style regulation originally envisioned by advocates• Complacency poses the biggest threat to cannabis reform, with a $40+ billion industry spending only about $4 million annually on federal lobbying• Multiple competing trade associations dilute advocacy impact, though coordination is improving• Banning hemp-derived cannabinoids doesn't advance marijuana legalization and may actually hinder progress• Congressional dysfunction stems from primary election systems that reward partisan extremes over compromise• The beverage segment represents one of the most promising opportunities for cannabis normalization• Even struggling businesses should find ways to contribute to advocacy efforts"Don't give up hope. If you're in this industry, I know it's super challenging, it's super frustrating, depressing at times. Take a breath, step back, see the progress we've made and realize the inputs that went into that progress. We have the resources to do a lot - find a way to invest in advocacy in a way that makes sense for you."Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Rama Mayo, co-founder of Hall of Flowers, shares how he transformed his experience in music, art, and fashion into creating one of cannabis's most respected trade shows focused on high-quality brand and buyer connections.• Building successful cannabis brands requires clear mission, vision, and values as foundation• The tension between "money people" and "cannabis operators" creates challenges that require mutual respect to overcome• Cannabis companies need both business expertise and plant knowledge to succeed long-term• Mentorship from industry leaders like Shep Gordon provided the confidence to become a cannabis thought leader• Hall of Flowers expanded from California to Toronto and now to New York, adapting to each market's unique challenges• Cannabis events need careful curation to maintain value—Hall of Flowers deliberately limits exhibitors to ensure quality• Daily operations in cannabis are like "The Walking Dead"—new unexpected challenges arise constantly• The East Coast cannabis market resembles California's market from 6-7 years ago• For cannabis events to create real value, they must focus on facilitating meaningful business connections• Perseverance is the essential quality for anyone looking to succeed in the cannabis industryHave a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

A hundred episodes in, and the journey has only just begun. This milestone celebration of High Spirits offers a candid look into what we've learned about cannabis entrepreneurship, regulation, and the future of this evolving industry.When we first started recording our conversations with friends in the cannabis space, we couldn't have predicted the wealth of knowledge that would emerge. Now, as industry veterans share that our show has brought them hope during challenging times, we're reminded of why we press record each week – to create a community where cannabis entrepreneurs don't have to feel alone.Our Ask Me Anything format yielded thoughtful questions that cut to the heart of today's cannabis landscape. What would we wish for if a genie could fix cannabis regulations? For AnnaRae, it's full federal descheduling paired with a tiered retail model that honors dispensary pioneers while expanding access through conventional channels. Ben took a more incremental approach, advocating for cannabinoids to be recognized as their own unique category in federal regulations rather than trying to fit them into existing frameworks.When discussing which states offer the best cannabis business opportunities, we acknowledged a difficult truth – none are truly set up for long-term profitability by traditional standards. Yet some markets like Maryland, New Mexico, and Illinois present better conditions with their constrained license models and tax reform momentum. We caution against markets with unrealistic valuation hype and suggest looking for indicators like wholesale pricing stability and retail density before expansion.The conversation turned emotional when addressing the struggles of legacy farmers in California. These pioneers who built the industry now find themselves crushed by over-taxation and over-regulation. Our proposed solutions include tax reform, ending local control barriers, and potentially implementing programmatic canopy caps tied to market demand – controversial perhaps, but potentially necessary to protect the value of the plant.Looking forward to the next decade, we debated whether traditional retail channels would eventually overtake dispensaries. Will normalization mean beverages and edibles in grocery stores while dispensaries remain for high-potency products? The answers might surprise you.What questions do you have about the cannabis industry? Let us know what topics you'd like us to explore in our next hundred episodes as we continue helping you stay curious, informed, and keeping your spirits high.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Mack Hueber from Ayrloom shares the remarkable story of how a 114-year-old apple orchard transformed into New York's leading cannabis brand while navigating the complex regulatory landscape of hemp and THC beverages.• Ayrloom emerged from Beak & Skiff, a century-old family-run apple orchard that expanded into cider, spirits, coffee, and eventually hemp and cannabis• Mack explains how the company leverages its beverage production expertise to create innovative cannabis products like their signature Honeycrisp THC drink• New York's cannabis regulations recently changed, potentially impacting over 100 dispensaries due to school/church proximity rules• The three-tier distribution model in alcohol provides insights for how the cannabis beverage market might effectively develop• Cannabis beverages are gaining mainstream acceptance with Mack noting they've gone from receiving hate mail to thank you notes• Mack's leadership approach involves bringing in experts from outside cannabis who bring specialized knowledge while learning about the plant• The future of cannabis beverages includes innovations like de-alcoholized hard cider infused with THC and CBC• Mack remains optimistic about cannabis beverages, stating "the category is here to stay" and "we're still in the first inning"Submit your questions for our 100th episode by going to highspiritspod.com/ask - your submission might end up on the podcast!Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

Kim Gomez shares how her TikTok experiment with her mother turned into Soberish, a multi-million dollar online marketplace for hemp-based and non-alcoholic social alternatives without spending on advertising. Her accidental business journey provides insights into serving cannabis-curious consumers who are intimidated by dispensaries but eager to try low-dose products.• Building a marketplace to curate quality hemp products after discovering that half the products brands sent were "garbage"• Creating an education-first approach for customers completely new to cannabis who are nervous about getting too high• Developing the Soberish Sampler Box where 67% of customers return to purchase full-size products• Growing from $1 million in first-year revenue without ads to a projected $7 million this year with paid acquisition• Navigating the complex regulatory landscape across states while maintaining seamless customer experiences• Implementing an API-based dropship model that connects directly with brand inventories for real-time updates• Targeting the untapped demographic of professional women in their 40s looking for alcohol alternatives• Advocating for appropriate dosing (2-4mg) that new consumers actually enjoy versus the 10mg+ products dominating retailFind Kimmy Gomez on social media platforms like Instagram, TikTok, or Facebook at Kimmy Gomez, or connect with her on LinkedIn where she shares industry insights and business tips.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high. 

We dive deep into East Coast cannabis markets with Rick Bashkoff, CEO of Lit Alerts, examining how data is reshaping operations in New York, New Jersey, and beyond as these emerging marketplaces evolve.• Data accuracy in cannabis typically ranges from 70-90% with most platforms using similar methodology to predict market trends• New York's cannabis retail scene faces challenges with rampant illicit stores that mimic legal dispensaries and confuse customers• Top-performing stores in Maryland and New Jersey generate over $1 million monthly, while New York averages $600,000-$700,000 in its top quartile• Store density significantly impacts performance, with Long Island's limited competition allowing dispensaries to reach multi-million dollar monthly revenues• New York-born brands dominate their local market while New Jersey shows more receptiveness to established national brands• Regional preferences exist across form factors, with urban areas favoring vapes and edibles while rural regions prefer traditional flower• Product movement tracking through alerts and notifications helps brands identify when retailers are running low on inventory• Challenges with indoor growing capacity in New York creates quality limitations compared to West Coast markets• Successful brands from other states like Miss Grass, Fernway, and Clay Nine have rapidly gained market share when entering New Jersey• Focus on operational fundamentals and customer needs rather than industry noise is essential for sustainable successVisit litalerts.com for a 30-day free trial to explore their data tools, or connect with Rick on LinkedIn for more insights on cannabis market dynamics.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.