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Canadian beer sales continue slide in face of rising cannabis sector
Beer sales in Canada continue to decline, down 3% in 2019 vs. 2018, the steepest decline in seven years. This decline is mirrored in the US with recent research showing that the percentage of college students who drink alcohol daily declined from 6.5% in 1980 to 2.2% in 2017. Declining beer sales have been driven, in part, by the emergence of cannabis as an alternative social lubricant. Cannabis has put pressure on alcohol producers to evaluate their future product offerings and could potentially drive additional corporate activity like Constellation’s investment in Canopy Growth and Molson’s joint venture with Hexo in 2018.
Daily cannabis users with chronic pain less likely to use opioids
A recent study from the University of British Columbia has tentatively confirmed what many in the cannabis industry have been anecdotally discussing for decades: cannabis use is associated with significantly lower odds of daily illicit opioid use.
Opinion: Governments should rethink drug policies
David Nutt, former scientific advisor to the UK Government and current Neuropsychopharmacology chair at Imperial College London, provides a good history lesson on the politics behind the prohibition of controlled substances across the modern world and discusses the need for a change in government drug policies. Nutt’s views come at a time when governments and organizations across the globe are reassessing controlled substance policies; recently the president of the United Nations’ narcotics enforcement agency questioned whether current views were outdated.
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Adapting Until Things Make Sense: February 27, 2020
“Face it, Jared, being too early is the same as being wrong.” —Richard Hendricks, Silicon Valley. Our good friend Richard at Pied Piper is right. Being too early in any industry - be it tech, finance, or cannabis - can be the death knell of a business. Cannabis is a burgeoning industry, and its early innings have been about making things work in an imperfect world. The industry has seen the emergence of some unconventional business models, but right now it’s all about “adapting until things make sense.”The operators who have adapted and succeeded this environment have done so in a crucible and are building the foundation for their future success. Only the strongest operators will “adapt until things make sense,” and those left standing will be awarded access to the massive cannabis market of the future.