Last Prisoner Project's 5th Annual Holiday Letter Drive

Beyond investing in a diverse set of entrepreneurs, we provide opportunities for our members to discover and participate with organizations who fight for diversity, equity and inclusion in the cannabis industry.

In our opinion, the Last Prisoner Project 5th Annual Holiday Letter Drive is one of the most well thought out and well executed social justice campaigns in the cannabis industry. While it might be early for "holiday drive" activities it's never too early to show support to an unjustly incarcerated individual.

Here are the easy steps you can take

1. Carefully read the Letter Writing Guide and choose a penpal (link in comments)
2. Note their name and id #.
3. Go to their Digital Letter Writing Portal (link in comments) and fill in your penpal's name and id # where prompted.
4. Write your letter where indicated.
5. That's it! An LPP team member will print, post, and mail your letter for you.

Could they make it easier? There is no reason why most people in the cannabis industry can't take 15-30 minutes to write to an incarcerated cannabis prisoner. Over the last two years, the Last Prisoner Project has helped to distribute over 10,000 letters during the holiday season. You can write one, can't you?

The Operator Perspective Mitigates Risk

Many of our investors in the Receptive Capital Syndicate are operators. The operator perspective mitigates risk in investing.

The ability to conduct due diligence through the lens of an operator enables the operator to, among other things, ask the tough questions, manage growth expectations and provide the entrepreneur with more useful feedback. That is most likely why operator investors make great advisors! We have been cautious to lead another deal this year. Candidly, we have not seen many new companies that fit our investment strategy and those who did, were still hoping to raise at unrealistic valuations in a historically timid cannabis investing environment.

This is starting to change but It’s still not clear to us if we’ve begun the turn around. We’ve seen signs of life in September following the HHS announcement and more recently with SAFER making its way through committee for the first time. Companies who are positioned well and called off fund raises in 2022 and 2023 are back out again. While attending the Benzinga Cannabis conference in Chicago last week, we noticed a different energy. We would call it “cautious optimism”. Perhaps the greater investor community is starting to take a page from the operator perspective.

I Just Enjoy The Plant. It’s As Simple As That.

“I just enjoy the plant. It’s as simple as that.”

During Kevin Durant’s interview at Game Plan by CNBC and Boardroom, he said, referring to cannabis, “Everyone does it, to be honest, it’s like wine at this point”. This was the line most media outlets lifted. But the line that I remember most is…

“I just enjoy the plant. It’s as simple as that.”

Coupled with his demeanor suggesting “Andrew, this is no big deal”, I admired KD's reaction to these questions. This is exactly the kind of statements and demeanor we need from those with power and influence. Not only has Kevin Durant invested in the industry, here he is on stage just keeping it simple. It’s a plant. It’s time we all start acting as if cannabis is a plant. I’m going to try to incorporate KD’s style into my own communication about cannabis stigma because I think he has this right. Less is more in this case.

Buyer’s Club 2 in Hudson, NY

Buyer's Club by On The Revel in Hudson, NY last week was so good. I wish I had more clever words but that's it. The feeling I've had so many times over the past 5 years of "I can't wait until events like this happen in New York" came full circle. The only thing I have to wait for now is the next one.

With so much negative noise right now in cannabis (especially New York) my biggest take away from this event is that we have a strong group here in New York that is going to make this market happen. I am meeting people in the New York market I admire almost every week at this point.

Very important work that Lulu Tsui and Jacobi Holland are doing here in New York for years now. Really exciting to see how their platform is developing as we enter the next phase of our market.

Let's open some doors and then blow them off.

The “I’m High Right Now” Campaign Is Smart

Why do we think the “I’m High Right Now” campaign is so smart? Attacking both institutional and individual cannabis stigmas head on in one campaign.

The Cannabis Media Council’s first move should get your attention merely from the fact that they convinced a powerhouse traditional publisher like Hearst to partner on this messaging. Instead of simply taking the money and running the campaign. Partnering and being part of the trade announcements shows that an institution like Hearst is ready to step out of the institutional cannabis stigma that has hindered the industry and our broader cultural norms for decades. Publishers of all sizes are watching this move as they endlessly consider the question “when should we get into cannabis?” (The answer is “5 years ago” by the way.)

Individual cannabis stigma still exists today but it’s shrinking. We often see pitches from entrepreneurs who are looking to “break the stigma” and their target audience is young people. News flash, most young people don’t have a stigma towards cannabis. They are growing up watching the legalization movement, choosing it over alcohol and are well informed on health and wellness products. You know who isn’t over the cannabis stigma? Grandma and Grandpa. And they might have the most to gain from cannabis when you take into account the probability of finding a cannabis-based product that helps with pain, sleep, loss of appetite and the list goes on.

And as a bonus for the entire cannabis industry, the Cannabis Media Council just ran a campaign for us all to gain the attention of the age group with the most buying power in history. “We want it to be category-growing kind of work and a tide that lifts all boats on a national level.” Just saying… mission accomplished in our view.

We’re thrilled to see this effort get the attention it deserves and we look forward to future campaigns from Cannabis Media Council. We’re also fortunate to call Cannabis Media Council founding board member Annie Davis an Advisor to Receptive Capital.

Miss Grass Homecoming in New Jersey

Lots of attention on NY and well-deserved. However there is a very exciting story happening in NJ. Miss Grass, a female-founded, female-led brand, originally launched in CA, is taking the state by storm in homecoming fashion for Kate.

After watching the brand from inception in 2018 as a media + marketplace product focused on consumer education, it was a pleasure to walk into a dispensary on the east coast and purchase some Miss Grass pre-rolls. This is a brand anchored in consumer education on display. Thoughtful, unique design and messaging (recently refreshed). Visually appealing and inviting. The box of matches is a fitting touch. The promise of enhancing your experience or “times” is certainly delivered. NJ being the 5th state the brand has entered successfully, we feel confident saying that while most cannabis brands are talking about it, Miss Grass is actually doing it.

Cheers to the Miss Grass team for actually doing it.

FWIW, the Ascend store in Fort Lee has a pretty thoughtful floor design for consumer education purposes with many approachable displays. I knew exactly what I wanted because I went there specifically to get Miss Grass pre-rolls so I pre-ordered and the pick up process was as simple as it should be. First time using Dispense as well. Sign up was easy. Elegant and clean UX.