Potcast 194: Open-Sourcing Cannabis Business Know-How
This week we’re celebrating some of my favorite core values - from radical transparency to responsible leadership. The acceptance of cannabis and the growth of our industry is advancing at a fast clip so we’re discussing business tools and concepts that respect our favorite plant, the supply chain, and cannabis consumers with Tyler Wakstein, co-founder and CEO of OpenNest Labs.
And if you’re looking for a one-of-a-kind cannabis-infused getaway, I invite you to join me in the beautiful wine and weed country of Sonoma County, California. As a cannabis lifestyle guide, I’ve cultivated a one-of-a-kind farm stay experience where you can enjoy the casually baked lifestyle and the magic of sun-grown cannabis farms and vineyards. If you’re into wine, weed, or both, get ready to have a high time customized just for you. Click the link to learn more.
Kumbaya and cannabis, -Jo 💚
This Potcast Is Covered By MJ Relief
MJ Relief is such a gift in my life, but so is listening to my body. If you want a CBD-infused, herbaceous, Ph.D. formulated topical that really works for muscle and joint relief, MJ Relief has got you covered. And when you pair that with work/life balance, it’s relief on an eleven. Order online at MJ Skin Relief dot com.
‘After the Show’ Notes
Tyler Wakstein is co-founder and CEO of OpenNest Labs. He has over 12 years of community building and business development experience and is passionate about using business as a tool to drive positive social change. Tyler is an active Angel investor and previously was Managing Curator at Summit Series, a globally recognized event series for today’s brightest leaders. When the U.S. Farm Bill was passed in 2018, Tyler saw an opportunity to create positive social outcomes within the emerging global industries of hemp and cannabis; specifically, creating an infrastructure to incubate and accelerate a portfolio of cannabis brands. Tyler is passionate about destigmatizing the plant through science and research. Drawing from this experience, Tyler also Co-founded Trailblazers, a community of industry leaders within the cannabis and hemp space. And if that’s not enough, Tyler also uses his resources and network to drive impact as a board member of The Life is Good Kids Foundation and Wholistic Research and Education Foundation.
Connect with Tyler on Social: @curiousfarmer | LinkedIn
Affordable, quality weed for the people.
Union Electric services the core cannabis consumer, the everyday smoker, through premium and affordable flower from California’s top cultivators. Responding to the needs of this already entrenched consumer is a win for the industry and the people. Union Electric has an asset-light business model. Rather than owning expensive infrastructure, UE invests in building relationships and alliances with the leaders across the value chain. This gives them the ability to be nimble and adapt to market trends, while simultaneously granting them access to high-quality, high-potency cannabis. The result is great cost savings for UE customers.
Union Electric gives 2% of profits back to the local communities that have embraced the legal cannabis industry. UE supports the hardworking people that have entrusted them to steward the social, economic, and medical opportunities created by cannabis.
BUILDING CONSCIOUS CANNABIS BRANDS
OpenNest Labs is a cannabis venture studio that incubates and accelerates the next generation of cannabis brands. ONL is firmly rooted in the idea that transparency and education are vital to creating an equitable global cannabis market. We seed and launch new companies and brands from scratch. Check out the ONL portfolio.
FAIR CHANCE HIRING
Root and Rebound is a Bay Area based organization with programs in both California and South Carolina. Root & Rebound’s mission is to restore power and resources to the families and communities most harmed by mass incarceration through legal advocacy, public education, policy reform and litigation—a model rooted in the needs and expertise of people who are directly impacted. The organization is made up of lawyers, advocates, and activists committed to creating a more just and restorative society.
Learn more about getting support or getting involved.
RESPONSIBLE CANNABIS LEADERSHIP
Trailblazers is a curated community of cannabis business and cultural leaders who work to advance the industry, unified by a shared ethos and vision of the future. Click below to learn more and apply.
OPEN-SOURCING CANNABIS KNOW-HOW
Radicle Science reimagines the traditional pharmaceutical and academic research model to deliver rigorous health outcome data at a fraction of the time and cost. Their virtual, direct-to-consumer clinical trials offer the first-ever path to natural medicine validation.
Radicle Science delivers differentiation and actionable insights by discovering how customers experience products in the real world as well as in controlled trial settings. The big data approach offers a unique analysis of demographic or behavioral variations.
The Sustainability Roll-up is presented by OCB Rolling Papers. In perfect harmony with natural, sustainable practices, it’s always been the OCB signature to provide the highest quality, responsibly sourced, and sustainably crafted rolling papers.
To stay in the flow of today’s conversation with Tyler, we’re exploring the sustainability of our cannabis culture. One of the most important parts of a sustainable society and eco-system is that everybody’s got a voice and a stake in the game. And that’s been a real challenge in the burgeoning cannabis industry - until somewhat recently. About four or five years ago I researched the crowdfunding option for Casually Baked - at the time Dr. V and I had created the muscle rub and I intended to roll everything under the same umbrella. A friend of mine had just started working for Indiegogo and he planted the seed that crowdfunding might be a solution for me. Unless you live under a rock, you’ve probably heard the term “crowdfunding” before, likely in the context of a Kickstarter campaign or a GoFundMe page. At the most general level, crowdfunding refers to a financing model in which small sums of money are collected from a large pool of people (aka the crowd). At the time, I got all excited, and met my buddy at Indiegogo’s SF office and together we discovered they couldn’t work with ancillary cannabis companies or hemp-based CBD products. So with that wet blanket news, I never looked back into crowdfunding until Patreon started. And for me, Patreon doesn’t garner enough attention or monthly support to even pay for the production of a single episode of the potcast. However, I have developed some great relationships with the handful of listeners that support Casually Baked on Patreon - you know who you are and I love and appreciate you. The struggle has been real people, so it’s a damn good thing I’m doing what I love. But I digress…
Nowadays, there are essentially three kinds of crowdfunding: reward-based - when you contribute money and get a reward or product in return, like Patreon and Indiegogo. Donation-based - is when a funder contributes to a campaign without expecting any perks or value in return like GoFundMe. And then there’s equity-based. Equity crowdfunding uses this same model, but instead of offering products or perks, funders receive a percentage of ownership, a financial stake in the company, or the right to future revenues or crypto-assets with an aim to earn a return on their investment.
In the past, only accredited investors could invest in private companies. In theory, this was to protect everyday citizens from investing more than they could afford to lose, but this also meant that the majority of Americans were denied the opportunity to invest in startups at all. And while I wasn’t paying attention Title III of the JOBS Act was passed which allows non-accredited individuals like me and you to invest in private companies. This is known as Regulation Crowdfunding, or simply, Reg CF. And some platforms have emerged that embrace our favorite plant.
This brings me back to preserving our cannabis culture.
I care about the heritage of cannabis and the men and women who have lived in the fringes to cultivate and disseminate plant medicine, and to those who spoke up about the bogus war on drugs and the benefits of hemp and cannabis and those who fought and continue to fight for our freedom to consume on our own terms. If you’re like me you probably don’t want to see big money guys - who probably prefer cocaine to cannabis - waltz in, sign multi-million dollar contracts with the hottest celebrities that smoke weed and white label classic cultivars, wrap them in slick, wasteful packaging, and upcharge you for the status symbol of consuming their shit.
Instead, I’m vibing with the idea of now being able to support the heart of cannabis culture by investing in scrappy entrepreneurs who love and honor cannabis. With Reg CF, you can now find cannabis companies you believe in and buy equity in their brand for as little as $100. Tyler and I talk more about Reg CF during the interview and how you can get involved.
Sustainability in its broadest, simplest definition is the ability to sustain something. And the best way to sustain something is to nurture it and handle it with care. So not all cannabis flower or rolling papers are created equal. That’s why OCB is the largest rolling paper brand in the world and has been “One With Nature” crafting their papers naturally since 1918. And they continue to uplevel their efforts to this day. All OCB papers are “plant to puff” and made in a facility that’s powered by 100% green energy. With longevity like that - you know they’ve perfected the process for a consistently great session time after time. Of course, you must be 21 and older to buy OCB rolling papers and to follow the natural wonders of OCB on social @ocb_usa.
Some Cannabis-Friendly Reg CF Platform Options
Roll With Me, a new video series launched on the Casually Baked YouTube channel in April 2021, is a collaboration with OCB Rolling Papers. Get lessons and insights on the craft of rolling while chatting about all things hemp and cannabis culture.
Complete This Form to Roll With Me On An Upcoming Episode
We all know practice makes perfectly smokeable joints so I’m engaging my cannabis industry friends to coach me. And if you’ve got some rolling tricks up your sleeve, perhaps you, too, can school me on an episode of Roll With Me.
If you too are a joint rolling novice and want to learn the craft alongside me, go ahead and get your supplies ready. Visit ocbusa.com/BAKED to get 4 booklets of OCB and a rolling tray for only $4.99! This bundle is worth 20 bucks and is around for a limited time. But the rolling skills and street cred we’re going to earn together, my friend, makes this bundle priceless as far as I’m concerned. As for you OG’s who can roll a joint one-handed, I challenge you to sample the entire line of OCB products and let me know your favorite.
Get 4 booklets of OCB and a rolling tray for only $4.99! This bundle is worth 20 bucks and is around for a limited time. But the rolling skills and street cred we’re going to earn together, my friend, makes this bundle priceless as far as I’m concerned. ✌️💚
