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Cannabis Law Now Podcast: How Florida Will Change the National Cannabis Landscape Through Amendment 3

 

Published:

May 15, 2024
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This fall, Floridians will vote on Amendment 3, which would legalize cannabis for adults 21 years old and older in the Sunshine State. Existing medical marijuana treatment centers in the state will get first (and maybe the only) dibs to sell adult-use cannabis. It’s been a battle for Florida to even get adult use cannabis on the ballot, and the threshold for adoption of this constitutional amendment sits at a whopping 60% of voter support. 

In this episode, Husch Blackwell's Hilary Bricken, and Hirsh Jain, founder of Ananda Strategy, a leading cannabis consultancy serving cannabis brands, retailers, technology businesses, and venture capital funds in the United States, Canada, and Western Europe, take us through the importance and significance of Amendment 3—not just for Florida, but for the nation when it comes to meaningful cannabis reform and progress. While this episode was recorded prior to Amendment 3’s clearance for the ballot boxes by state government, Hirsh shares his invaluable insights on just why and how Florida will become the crown jewel of cannabis, surpassing even California and New York, if voters vote yes on Amendment 3.

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This transcript has been auto generated

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[Music]

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[Applause]

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[Music]

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welcome I'm your host Hilary Brickin and

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this is the Cannabis law Now podcast

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where we regularly discuss issues

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related to the Cannabis industry

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including investment day-to-day

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operational issues and potential reform

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on the horizon that will impact all

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cannabis businesses and investors in the

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United States

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and on today's episode of the Cannabis

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law Now podcast I'm so happy to have

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with me HH Jane who is the founder of

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aunda strategy hsh how you doing I'm

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doing great so great to be here Hillary

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thanks good good I'm glad to have you

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now if you haven't heard of anunda

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strategy and hirs you may have been

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living under a rock because hirs is one

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of these guys that I think really has

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the pulse nationally of what's happening

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in the Cannabis industry and not just in

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the United States but probably even

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globally we're very lucky to have him

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today what are you up to these days with

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anunda we're lucky enough to be working

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on a lot of exciting projects you know

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on behalf of plant touching operators on

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behalf of ancillary businesses even on

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behalf of nonprofits and you know I'll

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give you a few examples of those you

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know we're lucky to represent many of

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the leading retail chains in California

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and so we've helped these businesses

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open you know what we believe will be

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some of the most successful stores in

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the state and so those are stores like

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airfields new store in Redwood City a

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project I was lucky enough to work with

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you on you know Airfield has long been

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one of the most successful dispensaries

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in the state and we think their new

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store will be no exception uh wheelhouse

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we help them open their store and

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Ventura that was the official dispensary

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of Hall of flowers that just happened

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last week so really proud of that the

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Artistry is about to open a store in

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lagona woods and we help them entitle

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that store so that's something that

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we're really passionate about helping

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establish really strong retail

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businesses to help the legal Market get

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an upper hand also happy to work with a

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bunch of great Brands uh just to give

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you one example you know one of our

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clients is Mammoth distribution which

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has Heavy Hitters and alur and you know

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just added Papa and Barkley and so

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helping them think about who to go

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deeper with in California and how to

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move into new States and you know just a

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few more examples that I'll give because

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I think it reflects how interested at

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least I am in every part of the space

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I'm on the board of SC labs and I know

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testing labs are less sexy to some

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people but it's really important that

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they function properly in order for the

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legal Market to have integrity and

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obviously I'm biased but I think SE Labs

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more than any other operator leads with

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integrity and you know that's why either

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the official testing partner of the

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emerald cup and of the California State

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Fair so really proud of that work also

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help investors you know get a sense of

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what the state and federal and evil even

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Global landscape is and I'm sure we'll

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talk about that to some extent on on the

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show and you know finally I'll just note

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really proud to do a lot of pro bono

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nonprofit advocacy work so I'm on the

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board of Cal normal and in recent years

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we've done things like passing emplo

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employment Rights bill help pass Scout

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Wiener's bill that requires uh medical

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cannabis patients to have access to

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cannabis delivery and so yeah th those

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are are just some examples and maybe the

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final thing I'll say is you know I think

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the common threat here is understanding

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the legal and Regulatory landscape

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across the country and across the world

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that's something I'm really fascinated

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by seeing the state experiments take

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shape and you know I'll just mention

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prior to working in cannabis I worked at

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Airbnb for many years building out their

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policy team and helping legalize you

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know short-term rentals around the world

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and I bring that up because it was that

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experience of understanding how policy

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manifests itself in different

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geographies on an issue that I you know

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I'm very passionate about travel it's

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kind of the same thing that animates me

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uh here in canvas yeah I have no doubt

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and it's funny that the two would kind

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of make interesting bedfellows with all

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the localized issues and issues around

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diverse laws multi-state Patchwork quilt

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of Regulation that Airbnb is faced

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domestically and internationally and so

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is cannabis and I was lucky enough to

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get to know you through that Airfield

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competitive licensing process in

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Northern California and I was super

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impressed with your level of work and

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dedication and understanding of the

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local politics and really the reason why

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we have you on today is because of an

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exciting development actually in my home

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state which is the state of Florida I

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was born and raised there I'm a Miami

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Hurricane that's where I went to law

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school and the first question I want to

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ask you because obviously you're active

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there you're helping stakeholders there

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what's the current status of cannabis in

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the sunshine state I think people are

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confused about whether it's a low THC

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Pro CBD Market a true medical cannabis

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market and some of that might be by

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Florida's design which can typically

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take an opaque shape I have litigated

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there administratively Believe It or Not

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years ago over some of the initial

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licensing that was issued and it was

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complex and it was fast and furious um

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unlike California or any of the western

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states that I've been in so what's

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what's the current status there yeah

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absolutely and so Hillary I would say

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that Florida is a robust medical

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cannabis Market the most robust medical

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cannabis Market in the country and so

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just a little bit of History here in

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2016 Florida passed a medical cannabis

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ballot initiative so that was in

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November uh 2016 and that initiative

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passed by 72% of the vote which is the

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most votes that any ballot measure in

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Florida history has ever gotten going

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back 150 years so I think it's notable

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that way back in 2016 eight years ago

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Florida overwhelmingly passed this

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medical cannabis ballot measure um that

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measure sort of implicated a very

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restrictive limited license framework so

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I I think that's the other thing to know

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about Florida is that it's Medical but

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it's also very limited license and not

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only is vertical integration required

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it's what I would call a strict vertical

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integration requirement in that there is

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no wholesale Market everything that I

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sell in my stores in Florida I myself

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have to uh produce and so Florida

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initially issued 22 licenses and so

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there's been a lot of commentary about

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how you know that's a very limited

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license market right given the size of

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the State of Florida and so you know

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there have been charges that the mo the

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sort of model there is you know a little

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bit oligopolistic and so that's sort of

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the the framework in Florida Sal started

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in in mid 2017 but I think it's

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important to note that sales didn't

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really start taking off in Florida until

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2019 early 2019 and that's when you know

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Ronda santis and one of his first acts

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of Governor allowed flour into the

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medical cannabis program in Florida so

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in short they had a program since 2017

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in 2019 the program really started to

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accelerate once flour was added to the

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medical program which is something we've

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seen in many states and you know we can

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talk more in a second about how the

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market has performed but you know over

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over the past four years there's been

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there's been really steady growth you

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know in Florida there's almost 900,000

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medical cannabis patients registered in

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Florida which is more than 4% of the

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population getting on 5% and so I think

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it's safe to say it's a very robust uh

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Medical Market as measured by patient

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count or also as measured by sales which

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we can get into that is wild and I do

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recall and I haven't looked at the

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Florida Statutes in a long time but

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going back to 2016 there was or is a

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requirement at least that these had to

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be generational firm

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in Florida I think because the

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litigation that I handled on the

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administrative side of the Department of

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Health was a battle by an existing

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farmer in Orlando who I think didn't

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secure licensing for his particular

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region because there were only so many

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of them as you mentioned um is that

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still the case today I know there's been

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litigation over that subsequently yes so

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that that is still the case for the

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initial licenses that were issued I

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think two other things to note is the

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state later issued a couple of licenses

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called p fer licenses which relate to

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you know historical discrimination that

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farmers in Florida have suffered as a

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result of the Department of Agriculture

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so those 22 licenses became 24 and I

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think the other thing to note is that

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the you know Florida recently had a

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licensing process and will be issuing a

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couple dozen more licenses this summer

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and so that's an effort to steadily

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diversify the the market and to move

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away from that requirement of being

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generational farmers and so yes there's

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been an effort to diversify that

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landscape but I'll just say some of

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these operators that have had presence

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in the state are so far ahead that these

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other lenses are going to have a really

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difficult time catching up in terms of

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locations in terms of capital and so

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that's how things are are going moving

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forward I believe that um and I'm

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licensed to practice in Florida and I

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remember when that legislation took

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shape having come from Western cannabis

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markets that were totally entrenched

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since the mid to late 90s people thought

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are there even Farmers out there that

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have been in existence for that long and

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in Florida the answer is absolutely yes

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it's a big a state with a focus on

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Citrus so it was not I don't think it

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was tough to find these generational

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farming families and businesses that

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were interested that already had this

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infrastructure and to your point they

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probably Leaps and Bounds ahead of any

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future lies so how has the medical

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Market performed and when I say

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performed I mean by comparison with

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other medical markets you and I both

265
00:08:46,839 --> 00:08:50,320
know this at least in the West Coast

266
00:08:48,519 --> 00:08:52,880
Medical seemed to be a stepping stone

267
00:08:50,320 --> 00:08:56,000
into adult use and then medical kind of

268
00:08:52,880 --> 00:08:57,959
receded depending on really access and

269
00:08:56,000 --> 00:09:00,160
geography local control in the state how

270
00:08:57,959 --> 00:09:01,399
has it gone down in Florida FL yeah I

271
00:09:00,160 --> 00:09:03,240
mean I would say the performance of the

272
00:09:01,399 --> 00:09:04,680
medical Market in Florida has been very

273
00:09:03,240 --> 00:09:06,720
strong you know I mentioned the patient

274
00:09:04,680 --> 00:09:08,519
count before if you have between four to

275
00:09:06,720 --> 00:09:10,440
5% of of residents in the state

276
00:09:08,519 --> 00:09:12,240
registered as a patient that reflects

277
00:09:10,440 --> 00:09:13,880
that the program is healthy so that's

278
00:09:12,240 --> 00:09:16,000
one way to measure it I think another

279
00:09:13,880 --> 00:09:18,720
way to measure it is sales so Florida

280
00:09:16,000 --> 00:09:20,680
routinely generates about $200 million

281
00:09:18,720 --> 00:09:22,880
in sales each month that makes it about

282
00:09:20,680 --> 00:09:24,720
A2 and a half billion dollar market and

283
00:09:22,880 --> 00:09:26,360
so that makes Florida you know the third

284
00:09:24,720 --> 00:09:28,320
biggest Market in the country you know

285
00:09:26,360 --> 00:09:30,200
behind California and behind Michigan

286
00:09:28,320 --> 00:09:31,920
which are both adult youed St so it's

287
00:09:30,200 --> 00:09:33,440
pretty remarkable that obviously Florida

288
00:09:31,920 --> 00:09:35,519
is a big state but it's a medical only

289
00:09:33,440 --> 00:09:37,200
market and it's the third biggest Market

290
00:09:35,519 --> 00:09:38,480
in in the country and I think the

291
00:09:37,200 --> 00:09:40,959
reasons for that are actually quite

292
00:09:38,480 --> 00:09:43,040
simple one you have really robust access

293
00:09:40,959 --> 00:09:45,040
to cannabis there are more than 600

294
00:09:43,040 --> 00:09:46,800
dispensaries in Florida and so even

295
00:09:45,040 --> 00:09:48,279
though Florida is a big state if you

296
00:09:46,800 --> 00:09:50,480
look at the map of dispensaries in

297
00:09:48,279 --> 00:09:51,880
Florida there is pretty robust coverage

298
00:09:50,480 --> 00:09:54,040
and that you know stands in stark

299
00:09:51,880 --> 00:09:56,040
contrast to a place like California that

300
00:09:54,040 --> 00:09:57,920
still has huge swats of the state the

301
00:09:56,040 --> 00:09:59,640
lack cannabis access so part of it is

302
00:09:57,920 --> 00:10:01,120
like hey it's really accessible to buy

303
00:09:59,640 --> 00:10:02,519
cannabis legally even though you need a

304
00:10:01,120 --> 00:10:04,399
card I think the second reason the

305
00:10:02,519 --> 00:10:06,240
market has performed well is low taxes

306
00:10:04,399 --> 00:10:08,160
Florida does does not have a medical

307
00:10:06,240 --> 00:10:10,760
cannabis tax which is remarkable I mean

308
00:10:08,160 --> 00:10:12,240
it has the regular 6% sales tax that

309
00:10:10,760 --> 00:10:14,079
these medical cannabis purchases are

310
00:10:12,240 --> 00:10:16,640
subject to but it's not subject to an

311
00:10:14,079 --> 00:10:18,600
additional tax and so Florida stands out

312
00:10:16,640 --> 00:10:20,279
when it comes to other markets and

313
00:10:18,600 --> 00:10:22,480
thirdly you know Florida just in general

314
00:10:20,279 --> 00:10:24,320
has cheap pricing you know it is often

315
00:10:22,480 --> 00:10:26,279
the case that you can go into a medical

316
00:10:24,320 --> 00:10:28,160
cannabis dispensary in Florida and for

317
00:10:26,279 --> 00:10:30,360
less than $20 out the door you can get

318
00:10:28,160 --> 00:10:32,680
an eigh even if it's a lower quality one

319
00:10:30,360 --> 00:10:34,360
so I'd say the Florida Medical Market

320
00:10:32,680 --> 00:10:36,760
has performed very well for those kind

321
00:10:34,360 --> 00:10:38,920
of obvious reasons access kind of

322
00:10:36,760 --> 00:10:40,440
pricing and Taxation and you know

323
00:10:38,920 --> 00:10:42,480
perhaps just the other thing to note is

324
00:10:40,440 --> 00:10:44,880
just by virtue of its license structure

325
00:10:42,480 --> 00:10:46,959
those gains have accured to a very small

326
00:10:44,880 --> 00:10:48,920
number of operators so you know there's

327
00:10:46,959 --> 00:10:51,000
four operators that account for half of

328
00:10:48,920 --> 00:10:52,040
those 600 dispensaries in the state

329
00:10:51,000 --> 00:10:54,680
those are you know names that are

330
00:10:52,040 --> 00:10:56,519
probably familiar to people TR Le air

331
00:10:54,680 --> 00:10:58,200
verono and curleaf some of the largest

332
00:10:56,519 --> 00:11:00,040
cannabis companies out there so if

333
00:10:58,200 --> 00:11:01,600
there's any criticism to be leveraged of

334
00:11:00,040 --> 00:11:02,880
the program it's that the program is

335
00:11:01,600 --> 00:11:04,639
doing well but that there are four

336
00:11:02,880 --> 00:11:06,240
companies that you know account for half

337
00:11:04,639 --> 00:11:07,920
of the dispensaries and and likely more

338
00:11:06,240 --> 00:11:10,680
than half the sales in the state yeah

339
00:11:07,920 --> 00:11:12,560
the the price point is fascinating again

340
00:11:10,680 --> 00:11:14,079
we're both coming from the West Coast

341
00:11:12,560 --> 00:11:17,320
where it's heavily saturated and it's

342
00:11:14,079 --> 00:11:18,720
eras to the bottom those caps on the

343
00:11:17,320 --> 00:11:20,040
number of operators that are allowed

344
00:11:18,720 --> 00:11:21,680
despite the number of dispensaries that

345
00:11:20,040 --> 00:11:23,680
have proliferated because there's only

346
00:11:21,680 --> 00:11:25,639
so many of them I imagine that that's

347
00:11:23,680 --> 00:11:27,279
helped prop up that lower price

348
00:11:25,639 --> 00:11:28,519
structure and kind of an unfair question

349
00:11:27,279 --> 00:11:29,800
if you don't know you don't know does

350
00:11:28,519 --> 00:11:32,160
Florida allow

351
00:11:29,800 --> 00:11:34,279
sungrown cannabis at these existing

352
00:11:32,160 --> 00:11:36,040
Farms or is it mostly indoor I you know

353
00:11:34,279 --> 00:11:38,480
I've never heard of sungrown cannabis in

354
00:11:36,040 --> 00:11:40,160
Florida I believe it's mostly indor I'm

355
00:11:38,480 --> 00:11:41,639
not sure whether they allow it or not

356
00:11:40,160 --> 00:11:43,839
but even if they do I don't think it's

357
00:11:41,639 --> 00:11:45,000
very prominent in the state understood

358
00:11:43,839 --> 00:11:47,639
yeah I was just thinking about some of

359
00:11:45,000 --> 00:11:49,440
those huge fields and right kind of

360
00:11:47,639 --> 00:11:51,079
Plantation style growing that's used for

361
00:11:49,440 --> 00:11:52,480
citrus with quanset Huts if they would

362
00:11:51,079 --> 00:11:54,760
just put their crops their cannabis

363
00:11:52,480 --> 00:11:56,200
crops alongside their orchids or their

364
00:11:54,760 --> 00:11:58,639
oranges whatever they're growing

365
00:11:56,200 --> 00:12:01,200
probably not I'm no farmer so what is

366
00:11:58,639 --> 00:12:04,079
also happening with adult youth that

367
00:12:01,200 --> 00:12:06,720
seems to be a huge initiative in Florida

368
00:12:04,079 --> 00:12:08,720
after many many years of trying and

369
00:12:06,720 --> 00:12:11,000
failing to get an initiative on the

370
00:12:08,720 --> 00:12:12,399
ballot it's happened right yeah

371
00:12:11,000 --> 00:12:13,920
absolutely so I mean I think this is

372
00:12:12,399 --> 00:12:16,040
really exciting I think this could be

373
00:12:13,920 --> 00:12:18,040
the most exciting event of 20124 maybe

374
00:12:16,040 --> 00:12:20,160
along with rescheduling to talk through

375
00:12:18,040 --> 00:12:22,440
the mechanics here right now the Florida

376
00:12:20,160 --> 00:12:24,320
Supreme Court is still reviewing the

377
00:12:22,440 --> 00:12:25,920
constitutionality of the ballot measure

378
00:12:24,320 --> 00:12:27,440
that has gotten enough signatures and

379
00:12:25,920 --> 00:12:29,480
this is worth bringing up because in the

380
00:12:27,440 --> 00:12:31,279
previous two election Cycles the Florida

381
00:12:29,480 --> 00:12:33,320
Supreme Court has deemed the initiatives

382
00:12:31,279 --> 00:12:35,160
unconstitutional for reasons that we can

383
00:12:33,320 --> 00:12:36,880
kind of get into and so that's the big

384
00:12:35,160 --> 00:12:38,440
thing that we're all watching right now

385
00:12:36,880 --> 00:12:40,600
and the Florida Supreme Court has an

386
00:12:38,440 --> 00:12:42,680
April 1 deadline to decide whether this

387
00:12:40,600 --> 00:12:44,600
initiative is constitutional or not so

388
00:12:42,680 --> 00:12:45,880
that's coming up really soon the other

389
00:12:44,600 --> 00:12:47,560
thing to note is that the Florida

390
00:12:45,880 --> 00:12:49,600
Supreme Court tends to release its

391
00:12:47,560 --> 00:12:51,040
decisions on Thursday mornings so as you

392
00:12:49,600 --> 00:12:52,680
and I are talking here today it's it's

393
00:12:51,040 --> 00:12:54,920
Monday March 18th there are two

394
00:12:52,680 --> 00:12:57,480
Thursdays left in March you know there's

395
00:12:54,920 --> 00:12:58,880
Thursday the 21st and Thursday the 28th

396
00:12:57,480 --> 00:13:00,320
and technically they could do nothing in

397
00:12:58,880 --> 00:13:02,160
the clock could run out and then it

398
00:13:00,320 --> 00:13:03,920
would be automatically approved but I

399
00:13:02,160 --> 00:13:05,959
believe they'll weigh in on this measure

400
00:13:03,920 --> 00:13:07,000
one way or another and so you know I

401
00:13:05,959 --> 00:13:08,560
although I don't no I'm just going to

402
00:13:07,000 --> 00:13:10,600
take a shot in the dark and I think

403
00:13:08,560 --> 00:13:12,880
maybe on Thursday the 21st the Supreme

404
00:13:10,600 --> 00:13:14,720
Court will will render their decision

405
00:13:12,880 --> 00:13:16,560
and this decision essentially touches on

406
00:13:14,720 --> 00:13:17,959
something called the single subject rule

407
00:13:16,560 --> 00:13:19,839
Florida says like hey you can put

408
00:13:17,959 --> 00:13:22,000
something on the ballot but it can only

409
00:13:19,839 --> 00:13:23,839
touch on a single subject and previous

410
00:13:22,000 --> 00:13:25,279
initiatives have been invalidated

411
00:13:23,839 --> 00:13:27,360
because they allegedly touched on

412
00:13:25,279 --> 00:13:29,800
multiple subjects and so this initiative

413
00:13:27,360 --> 00:13:32,560
has been drawn in a very narrow way to

414
00:13:29,800 --> 00:13:34,199
avoid that that issue and so just as an

415
00:13:32,560 --> 00:13:35,839
example if there were initiative that

416
00:13:34,199 --> 00:13:38,279
were to say hey we want to legalize

417
00:13:35,839 --> 00:13:39,800
cannabis and legalize hom grow that

418
00:13:38,279 --> 00:13:41,720
would be deemed invalid because it

419
00:13:39,800 --> 00:13:44,199
touches on multiple subjects which is

420
00:13:41,720 --> 00:13:46,120
why this has been drawn uh very very

421
00:13:44,199 --> 00:13:47,560
narrowly and so you know we could we

422
00:13:46,120 --> 00:13:49,000
could talk about this issue for a while

423
00:13:47,560 --> 00:13:50,560
so I'll just kind of summarize it

424
00:13:49,000 --> 00:13:52,320
quickly the Supreme Court's going to

425
00:13:50,560 --> 00:13:54,600
weigh in I believe this initiative has

426
00:13:52,320 --> 00:13:56,279
been drawn in a very narrow way to allow

427
00:13:54,600 --> 00:13:58,160
it to pass that requirement by the

428
00:13:56,279 --> 00:13:59,480
Supreme Court and those people who watch

429
00:13:58,160 --> 00:14:01,240
the oral arguments in front of the

430
00:13:59,480 --> 00:14:03,600
Supreme Court will say even the

431
00:14:01,240 --> 00:14:05,639
conservative justices on the court were

432
00:14:03,600 --> 00:14:07,720
skeptical of the state's claim that this

433
00:14:05,639 --> 00:14:09,079
was unconstitutional I'll also just note

434
00:14:07,720 --> 00:14:10,920
that there's been a lot of parsing of

435
00:14:09,079 --> 00:14:12,639
Governor desantis's comments in recent

436
00:14:10,920 --> 00:14:14,399
months some people have seized on a

437
00:14:12,639 --> 00:14:16,320
comment by him saying that he thinks

438
00:14:14,399 --> 00:14:18,279
that'll make the ballot as him signaling

439
00:14:16,320 --> 00:14:19,839
to you know the justices he appointed

440
00:14:18,279 --> 00:14:21,320
that they should approve it other people

441
00:14:19,839 --> 00:14:23,199
have seized on comments where he says he

442
00:14:21,320 --> 00:14:24,839
doesn't like the smell of cannabis as

443
00:14:23,199 --> 00:14:26,160
suggesting he's anti-cannabis I think

444
00:14:24,839 --> 00:14:27,560
there's a lot of back and forth there so

445
00:14:26,160 --> 00:14:30,639
we'll just kind of have to see how

446
00:14:27,560 --> 00:14:32,240
things unfold but ALS say that um I am

447
00:14:30,639 --> 00:14:34,160
I'm very optimistic it'll appear on the

448
00:14:32,240 --> 00:14:35,560
ballot and the other thing to note is

449
00:14:34,160 --> 00:14:38,720
that if it appears on the ballot it

450
00:14:35,560 --> 00:14:40,480
requires a 60% vote in November in order

451
00:14:38,720 --> 00:14:43,240
to pass it's the only state in the

452
00:14:40,480 --> 00:14:44,880
country that requires a 60% threshold

453
00:14:43,240 --> 00:14:46,320
rather than a simple majority and so

454
00:14:44,880 --> 00:14:49,079
even though there's strong support in

455
00:14:46,320 --> 00:14:51,000
Florida and polls show say like a 65% or

456
00:14:49,079 --> 00:14:53,560
higher approval rating that's one

457
00:14:51,000 --> 00:14:55,079
obstacle to sort of get past and then

458
00:14:53,560 --> 00:14:56,920
the the final things I'll note is that

459
00:14:55,079 --> 00:14:59,320
if it were to pass there's a strict

460
00:14:56,920 --> 00:15:01,440
six-month implementation period so the

461
00:14:59,320 --> 00:15:03,600
election is on November 5th so if this

462
00:15:01,440 --> 00:15:06,199
were to pass you know sales by law would

463
00:15:03,600 --> 00:15:07,880
have to start by Cinco Deo 2025 so that

464
00:15:06,199 --> 00:15:09,920
could be fun and in that intervening

465
00:15:07,880 --> 00:15:12,120
period the state legislature has some

466
00:15:09,920 --> 00:15:13,720
ability to tweak the initiative and I

467
00:15:12,120 --> 00:15:16,120
mention that because you know there may

468
00:15:13,720 --> 00:15:18,120
be an effort to restrict potency or or

469
00:15:16,120 --> 00:15:20,160
you know impose product restrictions or

470
00:15:18,120 --> 00:15:21,480
impose labeling restrictions and so

471
00:15:20,160 --> 00:15:23,720
that's the other thing we always have to

472
00:15:21,480 --> 00:15:25,600
watch for after an initiative is pass

473
00:15:23,720 --> 00:15:28,120
yeah right there will almost certainly

474
00:15:25,600 --> 00:15:29,920
be some form of rule making don't know

475
00:15:28,120 --> 00:15:31,160
the level of aggression but I'm with you

476
00:15:29,920 --> 00:15:32,519
on the likelihood of it making the

477
00:15:31,160 --> 00:15:34,440
ballot my understanding is that it's

478
00:15:32,519 --> 00:15:36,440
essentially a carbon copy of the medical

479
00:15:34,440 --> 00:15:38,800
initiative just with essentially

480
00:15:36,440 --> 00:15:41,880
recreational installed which leads me to

481
00:15:38,800 --> 00:15:43,920
my next question if 60% of Floridians

482
00:15:41,880 --> 00:15:46,399
vote in favor of the initiative assuming

483
00:15:43,920 --> 00:15:48,279
it makes the ballot Because by the time

484
00:15:46,399 --> 00:15:51,959
this episode airs we will know those

485
00:15:48,279 --> 00:15:54,000
questions what happens in the wake of

486
00:15:51,959 --> 00:15:55,920
legalization in Florida and that's a

487
00:15:54,000 --> 00:15:57,519
really really broad question so I'll try

488
00:15:55,920 --> 00:15:59,519
to narrow it down to a few things does

489
00:15:57,519 --> 00:16:01,720
the alleged oligopoly just

490
00:15:59,519 --> 00:16:03,240
explode because the initiative is

491
00:16:01,720 --> 00:16:05,360
written in such a way that those

492
00:16:03,240 --> 00:16:07,920
existing operators essentially get first

493
00:16:05,360 --> 00:16:10,160
dibs is there some kind of collateral

494
00:16:07,920 --> 00:16:12,199
impact federally I what do you see

495
00:16:10,160 --> 00:16:13,720
happening there because I too agree and

496
00:16:12,199 --> 00:16:15,440
having been born and raised there

497
00:16:13,720 --> 00:16:17,279
understanding the politics it's a unique

498
00:16:15,440 --> 00:16:19,519
place for better or worse this is an

499
00:16:17,279 --> 00:16:21,600
incredibly heavy lift for Florida so

500
00:16:19,519 --> 00:16:23,360
what do you see happening if they vote

501
00:16:21,600 --> 00:16:24,959
in favor you know if Florida votes in

502
00:16:23,360 --> 00:16:26,720
favor I think this will be the crown

503
00:16:24,959 --> 00:16:28,079
jewel of us cannabis and people are

504
00:16:26,720 --> 00:16:29,839
excited about this but I'm going to tell

505
00:16:28,079 --> 00:16:31,519
you why I'm even more excited than the

506
00:16:29,839 --> 00:16:33,639
average person is about Florida again I

507
00:16:31,519 --> 00:16:35,440
think it'll be a very robust Market I

508
00:16:33,639 --> 00:16:37,399
think it has the potential to transform

509
00:16:35,440 --> 00:16:39,279
cannabis politics in the Deep South as a

510
00:16:37,399 --> 00:16:41,000
region I think it has the potential to

511
00:16:39,279 --> 00:16:43,319
change the way that Republican

512
00:16:41,000 --> 00:16:44,800
politicians approach the Cannabis issue

513
00:16:43,319 --> 00:16:47,120
I think it even has the potential to tip

514
00:16:44,800 --> 00:16:49,160
the US nationally towards legalization

515
00:16:47,120 --> 00:16:50,959
when you consider Florida's population

516
00:16:49,160 --> 00:16:52,480
but to to stick on the first thing right

517
00:16:50,959 --> 00:16:54,279
what kind of a market will this be I

518
00:16:52,480 --> 00:16:56,800
think it'll be a very robust market and

519
00:16:54,279 --> 00:16:58,519
look Florida has a huge population 22

520
00:16:56,800 --> 00:17:00,560
million people and we've had other big

521
00:16:58,519 --> 00:17:02,639
States come online before notably

522
00:17:00,560 --> 00:17:04,919
California and New York but those states

523
00:17:02,639 --> 00:17:06,880
have lacked the infrastructure to

524
00:17:04,919 --> 00:17:08,439
immediately facilitate robust adult use

525
00:17:06,880 --> 00:17:10,439
sales you know New York had a very

526
00:17:08,439 --> 00:17:12,120
limited medical program unlike Florida

527
00:17:10,439 --> 00:17:14,360
and California made the catastrophic

528
00:17:12,120 --> 00:17:16,959
mistake of deeming 80% of its existing

529
00:17:14,360 --> 00:17:18,199
medical supply chain illegal and so I

530
00:17:16,959 --> 00:17:20,079
guess that's a way of saying we've been

531
00:17:18,199 --> 00:17:22,400
excited about big States coming online

532
00:17:20,079 --> 00:17:24,720
before but this is a big state that

533
00:17:22,400 --> 00:17:26,360
actually has robust medical access again

534
00:17:24,720 --> 00:17:28,600
I encourage anyone to look at a map of

535
00:17:26,360 --> 00:17:31,039
the 600 dispensaries in Florida and

536
00:17:28,600 --> 00:17:32,840
you'll see that kind of like on day one

537
00:17:31,039 --> 00:17:34,880
there'll be robust access across the

538
00:17:32,840 --> 00:17:37,039
state the only real analogy I can draw

539
00:17:34,880 --> 00:17:39,080
is to Missouri and obviously Missouri is

540
00:17:37,039 --> 00:17:40,760
you know 25% of the population of

541
00:17:39,080 --> 00:17:42,640
Florida but Missouri was one of those

542
00:17:40,760 --> 00:17:44,600
States that had a robust medical program

543
00:17:42,640 --> 00:17:47,520
spread across the state that turned on

544
00:17:44,600 --> 00:17:49,360
sales on day one and immediately saw a

545
00:17:47,520 --> 00:17:51,039
step function in in terms of growth and

546
00:17:49,360 --> 00:17:53,160
so I think Florida has the potential to

547
00:17:51,039 --> 00:17:55,720
be a very robust Market because of that

548
00:17:53,160 --> 00:17:58,880
robust retail access there's 22 million

549
00:17:55,720 --> 00:18:00,799
people in Florida Florida also sees 130

550
00:17:58,880 --> 00:18:02,679
million tourists which is just

551
00:18:00,799 --> 00:18:04,720
remarkable there's remarkable tourism

552
00:18:02,679 --> 00:18:05,840
into Florida and again just to really

553
00:18:04,720 --> 00:18:07,760
double click here I'm going to kind of

554
00:18:05,840 --> 00:18:09,159
get into the weeds but when people come

555
00:18:07,760 --> 00:18:10,720
to Florida it's a different type of

556
00:18:09,159 --> 00:18:13,039
Tourism you know they're not coming to

557
00:18:10,720 --> 00:18:14,440
Florida for business tourism necessarily

558
00:18:13,039 --> 00:18:16,000
unless they're going to the benzinga you

559
00:18:14,440 --> 00:18:17,520
know Cannabis Conference they're going

560
00:18:16,000 --> 00:18:19,120
for we know who they're going to see

561
00:18:17,520 --> 00:18:20,960
they're going to go see Mickey Mouse

562
00:18:19,120 --> 00:18:22,480
right exactly right they're going there

563
00:18:20,960 --> 00:18:25,039
for recreation right or they're going to

564
00:18:22,480 --> 00:18:27,039
the Florida Keys and so people go to or

565
00:18:25,039 --> 00:18:28,840
for spring break and so not only do they

566
00:18:27,039 --> 00:18:31,520
see a ton of tourists but they'll see a

567
00:18:28,840 --> 00:18:33,120
ton of leisure type tourists I'll also

568
00:18:31,520 --> 00:18:35,080
note there's plenty of international

569
00:18:33,120 --> 00:18:36,559
tourism and I bring this up because this

570
00:18:35,080 --> 00:18:38,400
really has the potential to change

571
00:18:36,559 --> 00:18:40,240
attitudes towards cannabis in other

572
00:18:38,400 --> 00:18:41,919
countries I remember being in you know

573
00:18:40,240 --> 00:18:44,240
just as a quick side note being in New

574
00:18:41,919 --> 00:18:45,720
York during un week last year and so

575
00:18:44,240 --> 00:18:47,960
many of the foreign dignitaries were

576
00:18:45,720 --> 00:18:49,760
kind of offended by what they saw as the

577
00:18:47,960 --> 00:18:51,600
sloppy nature of legalization in New

578
00:18:49,760 --> 00:18:53,400
York and pointed out the hypocrisy of

579
00:18:51,600 --> 00:18:55,280
the US leading the war on drugs and then

580
00:18:53,400 --> 00:18:57,200
allowing an illicit economy to develop

581
00:18:55,280 --> 00:18:58,960
in New York City I think Florida has the

582
00:18:57,200 --> 00:19:00,760
potential to be just the opposite to A

583
00:18:58,960 --> 00:19:02,400
well-regulated system that you know

584
00:19:00,760 --> 00:19:05,120
makes people look at cannabis positively

585
00:19:02,400 --> 00:19:07,360
so again 22 million people 130 million

586
00:19:05,120 --> 00:19:08,600
tourists the international tourists and

587
00:19:07,360 --> 00:19:11,400
you know the fact that there's robust

588
00:19:08,600 --> 00:19:12,760
retail access pricing is low we've

589
00:19:11,400 --> 00:19:14,480
already discussed how Florida does not

590
00:19:12,760 --> 00:19:16,000
have a medical cannabis tax now they

591
00:19:14,480 --> 00:19:17,919
will probably impose some kind of an

592
00:19:16,000 --> 00:19:20,200
adult use tax but I think this presents

593
00:19:17,919 --> 00:19:22,159
an opportunity for the very conservative

594
00:19:20,200 --> 00:19:23,679
legislature and the governor in Florida

595
00:19:22,159 --> 00:19:25,400
after they hopefully come around to the

596
00:19:23,679 --> 00:19:26,679
fact that this is passed that they can

597
00:19:25,400 --> 00:19:28,760
distinguish themselves from the

598
00:19:26,679 --> 00:19:30,600
disasters in California and New York by

599
00:19:28,760 --> 00:19:32,840
taking a different tack on cannabis and

600
00:19:30,600 --> 00:19:34,600
so that's sort of why I'm I'm so excited

601
00:19:32,840 --> 00:19:36,880
and then I'll just also note you know

602
00:19:34,600 --> 00:19:38,159
Florida borders a number of states in in

603
00:19:36,880 --> 00:19:40,120
the Deep South and you know we can talk

604
00:19:38,159 --> 00:19:41,679
about the the impact on the Deep South

605
00:19:40,120 --> 00:19:43,360
in a second but you know people forget

606
00:19:41,679 --> 00:19:45,799
Florida's not just Miami right it it

607
00:19:43,360 --> 00:19:47,480
borders you know Georgia and Alabama and

608
00:19:45,799 --> 00:19:49,440
as close to Mississippi and as even

609
00:19:47,480 --> 00:19:50,559
close to New Orleans and so we can talk

610
00:19:49,440 --> 00:19:51,919
about it more in a sec but I think it'll

611
00:19:50,559 --> 00:19:55,080
have a transformative impact on the

612
00:19:51,919 --> 00:19:56,760
region yeah knowing Florida it would die

613
00:19:55,080 --> 00:20:00,240
to distinguish itself from New York and

614
00:19:56,760 --> 00:20:02,880
California um and in multiple different

615
00:20:00,240 --> 00:20:05,679
ways but also similar to California it

616
00:20:02,880 --> 00:20:07,400
is the size and population of several

617
00:20:05,679 --> 00:20:09,880
States I'm with you that there's a

618
00:20:07,400 --> 00:20:11,760
domino effect here in multiple different

619
00:20:09,880 --> 00:20:13,799
ways and that Florida has an opportunity

620
00:20:11,760 --> 00:20:15,039
and I say this every time a big Market

621
00:20:13,799 --> 00:20:17,559
is examining this there's the

622
00:20:15,039 --> 00:20:19,039
opportunity to invoke the gold standard

623
00:20:17,559 --> 00:20:21,280
for this particular Democratic

624
00:20:19,039 --> 00:20:23,919
experiment I'm very confident that that

625
00:20:21,280 --> 00:20:25,320
does not yet exist it seems as though

626
00:20:23,919 --> 00:20:27,039
when states are turning on or turning

627
00:20:25,320 --> 00:20:28,360
over from medical instead of taking the

628
00:20:27,039 --> 00:20:30,600
best policies from each other they're

629
00:20:28,360 --> 00:20:32,960
actually like carbon copying the worst

630
00:20:30,600 --> 00:20:34,120
in an effort to satisfy what I couldn't

631
00:20:32,960 --> 00:20:37,400
even tell you anymore because the

632
00:20:34,120 --> 00:20:39,320
Department of Justice is so hands off so

633
00:20:37,400 --> 00:20:41,000
I I sincerely hope that Florida gets it

634
00:20:39,320 --> 00:20:42,919
right if they do go there but let's talk

635
00:20:41,000 --> 00:20:45,320
about the rest of the southeast because

636
00:20:42,919 --> 00:20:49,760
this is kind of this Locked Up Great

637
00:20:45,320 --> 00:20:52,159
Wall of unknown where if Florida goes do

638
00:20:49,760 --> 00:20:54,240
you think it has enough footspa to

639
00:20:52,159 --> 00:20:56,440
capture the rest to influence the rest

640
00:20:54,240 --> 00:20:57,919
to fall in line I do and you know I

641
00:20:56,440 --> 00:20:59,760
would also put it this way if Florida

642
00:20:57,919 --> 00:21:01,760
were not to move move those States will

643
00:20:59,760 --> 00:21:03,120
be stuck in the status quo for years

644
00:21:01,760 --> 00:21:04,559
right we have to remember how have we

645
00:21:03,120 --> 00:21:06,440
gotten adult use measures in this

646
00:21:04,559 --> 00:21:08,280
country we've gotten it via ballot

647
00:21:06,440 --> 00:21:10,640
measures or through unified Democratic

648
00:21:08,280 --> 00:21:12,520
control we've never had a GOP sort of

649
00:21:10,640 --> 00:21:14,720
State leadership kind of produce an

650
00:21:12,520 --> 00:21:16,120
adult use measure right and so those

651
00:21:14,720 --> 00:21:18,320
states are kind of stuck in in the

652
00:21:16,120 --> 00:21:20,120
status quo until Florida can change

653
00:21:18,320 --> 00:21:21,679
things now why do I think Florida will

654
00:21:20,120 --> 00:21:23,200
change things you know again there's

655
00:21:21,679 --> 00:21:25,000
South Florida but we kind of forget

656
00:21:23,200 --> 00:21:26,840
about the Florida Panhandle right so if

657
00:21:25,000 --> 00:21:29,679
we look at the northern part of Florida

658
00:21:26,840 --> 00:21:32,000
there are major Metro areas in Florida

659
00:21:29,679 --> 00:21:33,480
that are right on the Georgia border

660
00:21:32,000 --> 00:21:35,279
right if I think about Jacksonville and

661
00:21:33,480 --> 00:21:36,960
Tallahassee for example those are just

662
00:21:35,279 --> 00:21:38,720
30 minutes away from from the Georgia

663
00:21:36,960 --> 00:21:40,559
border and I go back to the example of

664
00:21:38,720 --> 00:21:42,520
Missouri the reason that Kansas City

665
00:21:40,559 --> 00:21:44,320
Missouri is probably the most productive

666
00:21:42,520 --> 00:21:46,440
cannabis ecosystem in the United States

667
00:21:44,320 --> 00:21:47,919
right now is it lies right on the Kansas

668
00:21:46,440 --> 00:21:50,039
border and so there's immense

669
00:21:47,919 --> 00:21:52,320
opportunity for these major Metro areas

670
00:21:50,039 --> 00:21:53,679
that lie in a border to draw in traffic

671
00:21:52,320 --> 00:21:55,760
from neighboring Georgia so I think

672
00:21:53,679 --> 00:21:57,080
that's exciting there's also Alabama

673
00:21:55,760 --> 00:21:59,880
again if you just look at a map you know

674
00:21:57,080 --> 00:22:01,799
Montgomery Alabama is just a 2hour drive

675
00:21:59,880 --> 00:22:03,440
you know down to Florida right and so

676
00:22:01,799 --> 00:22:05,600
you will see people driving into Florida

677
00:22:03,440 --> 00:22:07,400
to access cannabis if you really think

678
00:22:05,600 --> 00:22:08,799
about you know Pensacola that western

679
00:22:07,400 --> 00:22:10,880
part of Florida which borders like

680
00:22:08,799 --> 00:22:12,840
gulport you know Mississippi right and

681
00:22:10,880 --> 00:22:15,440
and and parts of Alabama that's really

682
00:22:12,840 --> 00:22:17,120
quite close and you know New Orleans for

683
00:22:15,440 --> 00:22:19,320
example is only a two and a half hour

684
00:22:17,120 --> 00:22:21,200
drive uh from Florida and even like

685
00:22:19,320 --> 00:22:23,120
Charleston South Carolina is only a

686
00:22:21,200 --> 00:22:24,159
three and a half hour drive into Florida

687
00:22:23,120 --> 00:22:25,679
and I mentioned this you know I know

688
00:22:24,159 --> 00:22:27,320
that kind of sounds like a long drive

689
00:22:25,679 --> 00:22:28,480
the reason I think this is important is

690
00:22:27,320 --> 00:22:30,200
if we look at a state like new mexic

691
00:22:28,480 --> 00:22:33,120
Mexico for example there are people

692
00:22:30,200 --> 00:22:35,279
driving four five 6 hours across West

693
00:22:33,120 --> 00:22:37,400
Texas which is very rural in order to

694
00:22:35,279 --> 00:22:39,159
access cannabis legally in New Mexico

695
00:22:37,400 --> 00:22:40,960
and so I think you will see the entire

696
00:22:39,159 --> 00:22:42,559
Deep South start to move into Florida

697
00:22:40,960 --> 00:22:44,640
and into a part of Florida that is

698
00:22:42,559 --> 00:22:45,799
culturally indistinguishable from the

699
00:22:44,640 --> 00:22:47,840
Deep South you know the Florida

700
00:22:45,799 --> 00:22:50,200
Panhandle is is the most kind of

701
00:22:47,840 --> 00:22:51,279
conservative region of of the country so

702
00:22:50,200 --> 00:22:53,360
I think it has the potential to

703
00:22:51,279 --> 00:22:55,440
transform the Deep South and really to

704
00:22:53,360 --> 00:22:57,320
accelerate some organic change that

705
00:22:55,440 --> 00:22:58,880
already happening in the Deep South and

706
00:22:57,320 --> 00:23:00,960
by this I mean you know the fact that

707
00:22:58,880 --> 00:23:02,400
Mississippi is quietly adopting you know

708
00:23:00,960 --> 00:23:04,919
one of the fastest growing medical

709
00:23:02,400 --> 00:23:07,360
programs um in in the country's history

710
00:23:04,919 --> 00:23:09,200
and has more than 150 dispensaries right

711
00:23:07,360 --> 00:23:11,400
um or that Georgia and Alabama are

712
00:23:09,200 --> 00:23:13,159
finally getting their programs off off

713
00:23:11,400 --> 00:23:15,240
the ground and so um I think it'll just

714
00:23:13,159 --> 00:23:17,159
illustrate how nonsensical uh

715
00:23:15,240 --> 00:23:19,159
prohibition is and it'll impact the Deep

716
00:23:17,159 --> 00:23:21,000
South in that way and what do you think

717
00:23:19,159 --> 00:23:23,480
some of the future potential pitfalls

718
00:23:21,000 --> 00:23:25,240
are for businesses even these existing

719
00:23:23,480 --> 00:23:27,760
operators because once you flip into

720
00:23:25,240 --> 00:23:30,880
adult use it's a whole different set of

721
00:23:27,760 --> 00:23:32,880
Public Safety and policy concerns you

722
00:23:30,880 --> 00:23:34,960
mentioned even setting different THC

723
00:23:32,880 --> 00:23:37,440
levels for adult use products it's just

724
00:23:34,960 --> 00:23:38,880
a completely different ball game with

725
00:23:37,440 --> 00:23:41,039
adult use people think they can borrow

726
00:23:38,880 --> 00:23:42,720
from medical they really cannot if it's

727
00:23:41,039 --> 00:23:43,360
regulated for example like alcohol if

728
00:23:42,720 --> 00:23:45,039
you're going to treat it like a

729
00:23:43,360 --> 00:23:47,400
pharmaceutical as adult use pretty much

730
00:23:45,039 --> 00:23:49,520
defeats the purpose so Most states treat

731
00:23:47,400 --> 00:23:51,159
it like alcohol or tobacco and since

732
00:23:49,520 --> 00:23:53,799
you're coming from California which I

733
00:23:51,159 --> 00:23:54,840
think is just the host of horribles and

734
00:23:53,799 --> 00:23:56,799
what could have been an amazing

735
00:23:54,840 --> 00:23:59,840
opportunity do you see more local

736
00:23:56,799 --> 00:24:01,720
control coming into play do you see

737
00:23:59,840 --> 00:24:03,200
additional competitive licensing coming

738
00:24:01,720 --> 00:24:05,840
into play even for existing operators

739
00:24:03,200 --> 00:24:07,600
that want to expand higher taxes social

740
00:24:05,840 --> 00:24:09,360
Equity we have litigation in Florida and

741
00:24:07,600 --> 00:24:12,120
the medical program to write the wrongs

742
00:24:09,360 --> 00:24:13,600
of past discrimination across farmers do

743
00:24:12,120 --> 00:24:16,200
you see it coming back in the form of

744
00:24:13,600 --> 00:24:17,960
social Equity to promote social justice

745
00:24:16,200 --> 00:24:20,240
here what do you think some of the

746
00:24:17,960 --> 00:24:22,480
trappings are the downsides for these

747
00:24:20,240 --> 00:24:24,200
businesses if we get adult use in

748
00:24:22,480 --> 00:24:26,120
Florida you know I think there are a few

749
00:24:24,200 --> 00:24:28,200
potential pitfalls I think one of them

750
00:24:26,120 --> 00:24:29,960
is sort of potency caps which we can get

751
00:24:28,200 --> 00:24:32,039
back to in a second but I think many of

752
00:24:29,960 --> 00:24:34,080
the pitfalls that we've experienced here

753
00:24:32,039 --> 00:24:36,200
say in California will not be repeated

754
00:24:34,080 --> 00:24:38,159
in Florida I mean let's go to to local

755
00:24:36,200 --> 00:24:40,559
control right the state legislature May

756
00:24:38,159 --> 00:24:42,520
for example give cities the ability to

757
00:24:40,559 --> 00:24:44,080
aband a lot of adult use cannabis

758
00:24:42,520 --> 00:24:45,440
businesses but you know the way the

759
00:24:44,080 --> 00:24:47,039
initiative is written these existing

760
00:24:45,440 --> 00:24:49,640
medical cannabis businesses will be able

761
00:24:47,039 --> 00:24:51,600
to convert to adult use by May 5th right

762
00:24:49,640 --> 00:24:53,360
and so this issue of access that is

763
00:24:51,600 --> 00:24:55,279
proven to be a problem in New York and

764
00:24:53,360 --> 00:24:56,360
California simply won't be a problem

765
00:24:55,279 --> 00:24:58,399
because there'll be robust

766
00:24:56,360 --> 00:25:00,159
infrastructure so I I think that's

767
00:24:58,399 --> 00:25:01,559
that's one critical thing um when it

768
00:25:00,159 --> 00:25:03,559
comes to licensing you know as I

769
00:25:01,559 --> 00:25:04,919
mentioned there is an ongoing licensing

770
00:25:03,559 --> 00:25:06,760
process right now and sometime this

771
00:25:04,919 --> 00:25:09,080
summer Florida will issue you know a

772
00:25:06,760 --> 00:25:10,799
couple dozen more licenses but I don't

773
00:25:09,080 --> 00:25:13,000
really anticipate that kind of holding

774
00:25:10,799 --> 00:25:15,000
up the process as it is done in New York

775
00:25:13,000 --> 00:25:16,880
because of the robust medical uh

776
00:25:15,000 --> 00:25:18,880
infrastructure that exists and you know

777
00:25:16,880 --> 00:25:20,480
you you mentioned social Equity my

778
00:25:18,880 --> 00:25:22,840
expectation is that there'll be some

779
00:25:20,480 --> 00:25:24,880
minimal effort to sort of address

780
00:25:22,840 --> 00:25:26,520
criminal justice issues say related to

781
00:25:24,880 --> 00:25:27,640
expungement the kinds of issues that

782
00:25:26,520 --> 00:25:28,960
couldn't make their way into the

783
00:25:27,640 --> 00:25:30,799
initiative because because of the single

784
00:25:28,960 --> 00:25:32,640
subject Rule and so I think Florida may

785
00:25:30,799 --> 00:25:35,039
approach equity in a way similar to the

786
00:25:32,640 --> 00:25:36,679
way that Ohio plans to or Missouri which

787
00:25:35,039 --> 00:25:38,039
is to say you know there'll be some

788
00:25:36,679 --> 00:25:39,520
effort to maybe diversify the

789
00:25:38,039 --> 00:25:41,200
marketplace but I think Florida is such

790
00:25:39,520 --> 00:25:43,120
a conservative place that you will not

791
00:25:41,200 --> 00:25:45,080
see a full-fledged Equity program in the

792
00:25:43,120 --> 00:25:47,159
way that you would California or New

793
00:25:45,080 --> 00:25:49,279
York that's on that issue when it comes

794
00:25:47,159 --> 00:25:51,039
to taxes I think Florida has an instinct

795
00:25:49,279 --> 00:25:53,279
for low taxes there's no state income

796
00:25:51,039 --> 00:25:54,559
tax they have no medical cannabis tax so

797
00:25:53,279 --> 00:25:56,520
again I think it's an opportunity for

798
00:25:54,559 --> 00:25:58,399
the stantis and the GOP distinguish

799
00:25:56,520 --> 00:25:59,840
themselves from California and New York

800
00:25:58,399 --> 00:26:01,480
so yeah that's why I don't think those

801
00:25:59,840 --> 00:26:02,960
things will be issues I think the one

802
00:26:01,480 --> 00:26:05,240
thing that could potentially be an issue

803
00:26:02,960 --> 00:26:07,159
again are issues of potency or product

804
00:26:05,240 --> 00:26:09,039
restrictions or advertising and and

805
00:26:07,159 --> 00:26:10,960
labeling as I mentioned there has been a

806
00:26:09,039 --> 00:26:13,000
bill introduced that was not yet

807
00:26:10,960 --> 00:26:15,120
successful to limit the potency of

808
00:26:13,000 --> 00:26:17,159
products and you know there there has

809
00:26:15,120 --> 00:26:19,480
been a history in Florida of the state

810
00:26:17,159 --> 00:26:21,200
legislature trying to intervene on the

811
00:26:19,480 --> 00:26:23,240
heels of a successful ballot initiative

812
00:26:21,200 --> 00:26:26,000
I mean just to give you one example in

813
00:26:23,240 --> 00:26:28,320
2018 when Florida passed a voting rights

814
00:26:26,000 --> 00:26:29,600
you know fell in voting rights

815
00:26:28,320 --> 00:26:31,480
restoration initiative that basically

816
00:26:29,600 --> 00:26:32,840
said hey if you were formerly a Fel and

817
00:26:31,480 --> 00:26:34,480
you should still be able to vote the

818
00:26:32,840 --> 00:26:36,039
legislature turned around and said okay

819
00:26:34,480 --> 00:26:38,080
that initiative passed but you have to

820
00:26:36,039 --> 00:26:39,600
pay all these fees in order to expunge

821
00:26:38,080 --> 00:26:41,399
your your record and obtain your voting

822
00:26:39,600 --> 00:26:43,799
rights and so there's always ways that a

823
00:26:41,399 --> 00:26:45,559
hostile State Legislature can in theory

824
00:26:43,799 --> 00:26:47,440
respect you know the amendment that

825
00:26:45,559 --> 00:26:49,039
passed but tried to introduce friction

826
00:26:47,440 --> 00:26:50,880
into the process and so I think that'll

827
00:26:49,039 --> 00:26:52,919
be the really critical thing for for

828
00:26:50,880 --> 00:26:54,320
Advocates and the last thing I'll say is

829
00:26:52,919 --> 00:26:56,000
that's why I think the vote count is so

830
00:26:54,320 --> 00:26:58,600
important right in the same way that

831
00:26:56,000 --> 00:27:00,080
Ohio passed with 57% of the vote and the

832
00:26:58,600 --> 00:27:01,760
folks in Ohio can't mess with that

833
00:27:00,080 --> 00:27:03,240
initiative because they realize they

834
00:27:01,760 --> 00:27:05,279
would be running into a political buzs

835
00:27:03,240 --> 00:27:07,960
saww that's why we need a really strong

836
00:27:05,279 --> 00:27:09,200
vote in Florida not 60% but but but

837
00:27:07,960 --> 00:27:11,360
better and I'm actually pretty

838
00:27:09,200 --> 00:27:12,679
optimistic about that man just on the

839
00:27:11,360 --> 00:27:14,360
regulatory side because it's a big part

840
00:27:12,679 --> 00:27:15,840
of my practice when The Regulators come

841
00:27:14,360 --> 00:27:17,480
into play this is when the politics

842
00:27:15,840 --> 00:27:19,080
really show up especially things like

843
00:27:17,480 --> 00:27:21,279
lobbying and private interest groups I

844
00:27:19,080 --> 00:27:23,840
imagine that those existing lenes have a

845
00:27:21,279 --> 00:27:25,520
firmly secured place at the table do you

846
00:27:23,840 --> 00:27:27,919
think in Florida that Department of

847
00:27:25,520 --> 00:27:29,480
Health Department of a do a good job of

848
00:27:27,919 --> 00:27:31,480
list listening to those stakeholders

849
00:27:29,480 --> 00:27:33,039
let's put voters aside because that's

850
00:27:31,480 --> 00:27:35,159
one form of political pressure with

851
00:27:33,039 --> 00:27:37,200
direct democracy and action do you think

852
00:27:35,159 --> 00:27:40,039
they listen to their licenses because

853
00:27:37,200 --> 00:27:42,080
I've been in states where your pleas

854
00:27:40,039 --> 00:27:43,279
your advocacy positions your policy

855
00:27:42,080 --> 00:27:44,799
suggestions how you're running your

856
00:27:43,279 --> 00:27:46,960
day-to-day business it just falls on

857
00:27:44,799 --> 00:27:49,279
deaf ears completely when it comes to

858
00:27:46,960 --> 00:27:50,799
government relations yeah you know what

859
00:27:49,279 --> 00:27:53,159
I would say is this I would say The

860
00:27:50,799 --> 00:27:54,880
Regulators in Florida it may not be that

861
00:27:53,159 --> 00:27:57,000
they listen more but they are just less

862
00:27:54,880 --> 00:27:59,440
eager to get involved in the business of

863
00:27:57,000 --> 00:28:01,039
their lenses is is what I would say

864
00:27:59,440 --> 00:28:03,440
right so they have adopted more of a

865
00:28:01,039 --> 00:28:05,440
hands-off stance and so they may not be

866
00:28:03,440 --> 00:28:07,399
actively listening for feedback but they

867
00:28:05,440 --> 00:28:09,240
have just been less eager to intervene

868
00:28:07,399 --> 00:28:10,840
in the program and they only kind of

869
00:28:09,240 --> 00:28:12,720
intervene when there's some political

870
00:28:10,840 --> 00:28:14,200
pressure to do so I mean just to give

871
00:28:12,720 --> 00:28:15,600
you an example when Green Thumb

872
00:28:14,200 --> 00:28:17,760
Industries announced this like

873
00:28:15,600 --> 00:28:19,279
Innovative program to put cannabis in

874
00:28:17,760 --> 00:28:21,080
gas stations that was one of the few

875
00:28:19,279 --> 00:28:22,880
things that made The Regulators stand up

876
00:28:21,080 --> 00:28:24,600
and say Hey you know we haven't kind of

877
00:28:22,880 --> 00:28:26,399
signed off on that or when Dan santis

878
00:28:24,600 --> 00:28:27,760
says hey these operators are making so

879
00:28:26,399 --> 00:28:29,440
much money we should charge them higher

880
00:28:27,760 --> 00:28:31,600
fees you know that tends to be the

881
00:28:29,440 --> 00:28:33,880
reaction so largely I I've seen them be

882
00:28:31,600 --> 00:28:35,120
a more silent regulator which I mean

883
00:28:33,880 --> 00:28:37,799
compared to other states I don't think

884
00:28:35,120 --> 00:28:38,640
is always a bad thing yeah same here

885
00:28:37,799 --> 00:28:40,080
sometimes it's not bad to have a

886
00:28:38,640 --> 00:28:42,039
reactive regulator because you can

887
00:28:40,080 --> 00:28:44,200
always ask for forgiveness depending on

888
00:28:42,039 --> 00:28:45,640
the level of conduct um I wish other

889
00:28:44,200 --> 00:28:46,840
states would experiment with that

890
00:28:45,640 --> 00:28:50,120
sometimes and how they oversee their

891
00:28:46,840 --> 00:28:53,000
licensees now Florida already has shown

892
00:28:50,120 --> 00:28:55,320
an aptitude and an appetite for

893
00:28:53,000 --> 00:28:57,760
intensely regulating the products that

894
00:28:55,320 --> 00:29:00,320
go on the market not necessarily any

895
00:28:57,760 --> 00:29:02,440
kind of creative way more like this is

896
00:29:00,320 --> 00:29:05,279
our prohibited products list Thou shalt

897
00:29:02,440 --> 00:29:07,440
not pass I'm currently writing a blog

898
00:29:05,279 --> 00:29:10,519
post on it for my law firm's own blog

899
00:29:07,440 --> 00:29:12,240
the Delta 8 ban right in existing

900
00:29:10,519 --> 00:29:14,600
medical ecosphere have you been

901
00:29:12,240 --> 00:29:16,159
following that and do you know how the

902
00:29:14,600 --> 00:29:18,320
Market's reacting to that is this a

903
00:29:16,159 --> 00:29:20,600
preview potentially of what we could get

904
00:29:18,320 --> 00:29:22,279
if adult use goes in November yeah I

905
00:29:20,600 --> 00:29:24,679
mean so the bill you're referencing is

906
00:29:22,279 --> 00:29:26,640
Senate Bill 1698 I believe it is and the

907
00:29:24,679 --> 00:29:28,399
bill is passed and it awaits D Sis's

908
00:29:26,640 --> 00:29:30,559
signature and if he signs it it'll take

909
00:29:28,399 --> 00:29:32,919
effect uh October 1st so right before

910
00:29:30,559 --> 00:29:34,720
the adult use initiative and this bill

911
00:29:32,919 --> 00:29:37,200
essentially you know bans Delta 8 and

912
00:29:34,720 --> 00:29:39,399
Delta 10 and imposes like a 5 milligram

913
00:29:37,200 --> 00:29:41,440
serving uh limit on sort of products

914
00:29:39,399 --> 00:29:43,279
with with Delta 9 in them and so it

915
00:29:41,440 --> 00:29:45,919
renders a lot of existing hemp products

916
00:29:43,279 --> 00:29:47,880
in Florida illegal and so what I would

917
00:29:45,919 --> 00:29:49,720
say is this um the fact that these

918
00:29:47,880 --> 00:29:52,080
products have proliferated so much

919
00:29:49,720 --> 00:29:54,840
across Florida illustrates the latent

920
00:29:52,080 --> 00:29:56,799
demand there is for cannabis amongst uh

921
00:29:54,840 --> 00:29:58,399
citizens that that exist out there so I

922
00:29:56,799 --> 00:29:59,960
would say that's Point number one one

923
00:29:58,399 --> 00:30:01,440
point number two is you know Florida has

924
00:29:59,960 --> 00:30:03,200
passed this legislation but as we've

925
00:30:01,440 --> 00:30:04,799
seen in many states often times this

926
00:30:03,200 --> 00:30:06,399
legislation is challenged in court and

927
00:30:04,799 --> 00:30:07,919
so there's many states that are passing

928
00:30:06,399 --> 00:30:09,399
bans and later federal courts are

929
00:30:07,919 --> 00:30:11,200
weighing in on whether that is

930
00:30:09,399 --> 00:30:12,600
consistent kind of with the farm bill

931
00:30:11,200 --> 00:30:14,919
and so I think that's kind of anyone's

932
00:30:12,600 --> 00:30:16,640
guess how that all kind of plays out and

933
00:30:14,919 --> 00:30:18,240
in light of that uncertainty I guess I

934
00:30:16,640 --> 00:30:20,240
would say that's why the adult use

935
00:30:18,240 --> 00:30:22,360
measure is so important right in States

936
00:30:20,240 --> 00:30:24,720
where there's robust cannabis access

937
00:30:22,360 --> 00:30:26,760
that is Affordable that is accessible we

938
00:30:24,720 --> 00:30:28,600
tend to see you know the least amount of

939
00:30:26,760 --> 00:30:29,919
these hemp and toxin products and look I

940
00:30:28,600 --> 00:30:31,519
recognize that there's a complicated

941
00:30:29,919 --> 00:30:33,200
debate going on about these products and

942
00:30:31,519 --> 00:30:34,640
how you know they can help certain folks

943
00:30:33,200 --> 00:30:35,960
that don't have access to cannabis

944
00:30:34,640 --> 00:30:37,039
that's a complicated debate we probably

945
00:30:35,960 --> 00:30:39,360
don't have time to get to on this

946
00:30:37,039 --> 00:30:41,120
episode but I would just say look folks

947
00:30:39,360 --> 00:30:42,880
you know have a demand for cannabis

948
00:30:41,120 --> 00:30:44,399
there are some reasonable concerns about

949
00:30:42,880 --> 00:30:46,559
the safety of these hempen toxin

950
00:30:44,399 --> 00:30:48,080
products and so the best way to Usher

951
00:30:46,559 --> 00:30:50,159
people into products that are safe and

952
00:30:48,080 --> 00:30:52,519
tested is to ensure that cannabis is

953
00:30:50,159 --> 00:30:54,240
legal for adults and is accessible and

954
00:30:52,519 --> 00:30:56,480
again I would point you to markets like

955
00:30:54,240 --> 00:30:58,159
Michigan or you know the Canadian Market

956
00:30:56,480 --> 00:31:00,600
where these hempen toxin products are

957
00:30:58,159 --> 00:31:02,960
not popular because they people can

958
00:31:00,600 --> 00:31:04,960
easily access uh affordable cannabis and

959
00:31:02,960 --> 00:31:07,480
so that's why again I think this

960
00:31:04,960 --> 00:31:09,240
initiative is so important but maybe the

961
00:31:07,480 --> 00:31:11,039
only other thing I'll say is you know

962
00:31:09,240 --> 00:31:12,519
this issue has to be managed delicately

963
00:31:11,039 --> 00:31:14,159
right obviously there are a ton of

964
00:31:12,519 --> 00:31:16,279
people that operate in the hemp space in

965
00:31:14,159 --> 00:31:18,080
Florida who are upset about this bill

966
00:31:16,279 --> 00:31:19,960
who view The multi-state Operators with

967
00:31:18,080 --> 00:31:21,720
suspicion we've seen in other states

968
00:31:19,960 --> 00:31:23,360
that adult use measures can fail when

969
00:31:21,720 --> 00:31:24,840
there's divisions within the Cannabis

970
00:31:23,360 --> 00:31:26,919
community so I think it's really

971
00:31:24,840 --> 00:31:28,799
important that these msos who are you

972
00:31:26,919 --> 00:31:30,360
know looking at the this juicy pie in

973
00:31:28,799 --> 00:31:32,679
Florida over the next few years don't

974
00:31:30,360 --> 00:31:34,600
get ahead of themselves and find ways to

975
00:31:32,679 --> 00:31:36,000
to build an inclusive cannabis Community

976
00:31:34,600 --> 00:31:37,760
because otherwise we won't be able to

977
00:31:36,000 --> 00:31:39,039
get over the finish line and look the

978
00:31:37,760 --> 00:31:40,519
state legislature is never going to bail

979
00:31:39,039 --> 00:31:42,559
us out in Florida so we need the people

980
00:31:40,519 --> 00:31:43,880
to be behind us to move this forward man

981
00:31:42,559 --> 00:31:45,679
her if the feds ever get direct act

982
00:31:43,880 --> 00:31:48,039
together I would nominate you for like

983
00:31:45,679 --> 00:31:49,679
top weeds are because you're you're

984
00:31:48,039 --> 00:31:52,320
right down the middle and that's exactly

985
00:31:49,679 --> 00:31:54,919
what we need in this political ecosystem

986
00:31:52,320 --> 00:31:56,399
on this particular topic so just a last

987
00:31:54,919 --> 00:31:58,799
couple questions for you before I let

988
00:31:56,399 --> 00:32:00,919
you go and this can be your for voters

989
00:31:58,799 --> 00:32:03,279
and consumers what do they need to know

990
00:32:00,919 --> 00:32:04,679
about Amendment Three the potential

991
00:32:03,279 --> 00:32:06,559
ballot initiative assuming it gets

992
00:32:04,679 --> 00:32:08,279
passed the Supreme Court in Florida

993
00:32:06,559 --> 00:32:10,480
we're both hopeful about that what do

994
00:32:08,279 --> 00:32:12,080
they need to know about it at this point

995
00:32:10,480 --> 00:32:13,600
I I think what they need to know is if

996
00:32:12,080 --> 00:32:14,760
you are in Florida and listening to this

997
00:32:13,600 --> 00:32:16,600
right and you have the chance to vote

998
00:32:14,760 --> 00:32:18,159
for this and you care about cannabis you

999
00:32:16,600 --> 00:32:20,480
know not only passing this initiative

1000
00:32:18,159 --> 00:32:22,360
but passing it by a healthy margin I

1001
00:32:20,480 --> 00:32:24,799
think would be a seismic event in the

1002
00:32:22,360 --> 00:32:26,320
history of cannabis reform and so what I

1003
00:32:24,799 --> 00:32:28,880
mean by that is I I believe the record

1004
00:32:26,320 --> 00:32:31,159
is New Jersey that with 7% of the vote

1005
00:32:28,880 --> 00:32:33,000
voted to legalize cannabis I based on

1006
00:32:31,159 --> 00:32:34,880
polling am cautiously optimistic that we

1007
00:32:33,000 --> 00:32:37,760
can get up to that number if we get to a

1008
00:32:34,880 --> 00:32:39,159
number like 67% again that'll eliminate

1009
00:32:37,760 --> 00:32:40,639
the ability of anyone in the state

1010
00:32:39,159 --> 00:32:42,840
legislature to really mess with the

1011
00:32:40,639 --> 00:32:45,039
initiative that'll send a message across

1012
00:32:42,840 --> 00:32:47,159
the entire Deep South that the reddest

1013
00:32:45,039 --> 00:32:49,720
of states where woke allegedly goes to

1014
00:32:47,159 --> 00:32:52,000
die right is kind of okay with cannabis

1015
00:32:49,720 --> 00:32:53,720
I think it'll change the calculus of

1016
00:32:52,000 --> 00:32:55,760
Republican politicians across the

1017
00:32:53,720 --> 00:32:57,159
country who will have seen Ohio which is

1018
00:32:55,760 --> 00:32:59,000
the bellweather red State and then

1019
00:32:57,159 --> 00:33:00,960
Florida which is is the Contemporary

1020
00:32:59,000 --> 00:33:03,279
like reddest of red cultural polit

1021
00:33:00,960 --> 00:33:05,000
politics States vote for cannabis you

1022
00:33:03,279 --> 00:33:07,000
know even someone like Rona santis who

1023
00:33:05,000 --> 00:33:09,480
you know won with a landslide right in

1024
00:33:07,000 --> 00:33:11,880
2022 with 60% of the vote I mean if

1025
00:33:09,480 --> 00:33:13,080
Florida gets 67% of the vote you know

1026
00:33:11,880 --> 00:33:14,880
that's going to make him look poor by

1027
00:33:13,080 --> 00:33:16,840
comparison or again you know someone

1028
00:33:14,880 --> 00:33:19,159
like Rick Scott the senator from Florida

1029
00:33:16,840 --> 00:33:21,880
he won his last reelection with 50.0

1030
00:33:19,159 --> 00:33:23,039
five% of the vote if cannabis gets 67

1031
00:33:21,880 --> 00:33:24,799
it's going to be harder for him to

1032
00:33:23,039 --> 00:33:26,519
continue to be an obstructionist so I

1033
00:33:24,799 --> 00:33:28,399
think Florida has a has the ability to

1034
00:33:26,519 --> 00:33:30,240
send a message to the Deep South has the

1035
00:33:28,399 --> 00:33:32,200
ability to send a message to you know

1036
00:33:30,240 --> 00:33:34,200
folks in the GOP and perhaps most

1037
00:33:32,200 --> 00:33:36,840
importantly you know if Florida were go

1038
00:33:34,200 --> 00:33:38,600
adult use then 60% of the people who

1039
00:33:36,840 --> 00:33:40,320
live in this country would live in an

1040
00:33:38,600 --> 00:33:42,000
adult use State and that doesn't even

1041
00:33:40,320 --> 00:33:44,240
count some of the other you know states

1042
00:33:42,000 --> 00:33:46,840
that might go adult use like Hawai or

1043
00:33:44,240 --> 00:33:49,320
New Hampshire or South Dakota so you

1044
00:33:46,840 --> 00:33:50,919
know FL if Florida goes adult use you

1045
00:33:49,320 --> 00:33:52,679
know I almost want to say I don't care

1046
00:33:50,919 --> 00:33:54,240
who the next president is right you're

1047
00:33:52,679 --> 00:33:56,399
going to have to pay attention to

1048
00:33:54,240 --> 00:33:58,000
cannabis because it'll be overwhelming

1049
00:33:56,399 --> 00:33:59,480
even in the most conservative States so

1050
00:33:58,000 --> 00:34:01,200
that's why it's so important that

1051
00:33:59,480 --> 00:34:03,000
everybody in Florida votes obviously in

1052
00:34:01,200 --> 00:34:04,799
favor of the initiative and give me your

1053
00:34:03,000 --> 00:34:07,120
prediction now because again this will

1054
00:34:04,799 --> 00:34:08,919
Air after we get the decision from the

1055
00:34:07,120 --> 00:34:11,079
Supreme Court but obviously before

1056
00:34:08,919 --> 00:34:13,240
October or November excuse me do you

1057
00:34:11,079 --> 00:34:15,079
think it's going to pass yes I think

1058
00:34:13,240 --> 00:34:16,639
it'll I think it'll clear Supreme Court

1059
00:34:15,079 --> 00:34:20,399
review and then I think it's going to

1060
00:34:16,639 --> 00:34:22,240
pass with 66% of the vote in November so

1061
00:34:20,399 --> 00:34:24,520
that's my prediction all right we got

1062
00:34:22,240 --> 00:34:25,879
your predictions okay H thanks for

1063
00:34:24,520 --> 00:34:28,359
coming on it's been a real pleasure you

1064
00:34:25,879 --> 00:34:29,919
are so knowledgeable in car charismatic

1065
00:34:28,359 --> 00:34:31,520
your clients are very lucky to have you

1066
00:34:29,919 --> 00:34:33,520
and we are very fortunate to gain your

1067
00:34:31,520 --> 00:34:35,720
insights on what could be a seismic

1068
00:34:33,520 --> 00:34:37,480
shift in cannabis policy that's kind of

1069
00:34:35,720 --> 00:34:39,359
been a sleeper not many people are

1070
00:34:37,480 --> 00:34:40,679
watching Florida in this capacity they

1071
00:34:39,359 --> 00:34:42,320
know about it a little bit but I don't

1072
00:34:40,679 --> 00:34:44,000
think they know what the impact is that

1073
00:34:42,320 --> 00:34:45,599
it could actually have so thanks very

1074
00:34:44,000 --> 00:34:48,119
much for your time we appreciate it this

1075
00:34:45,599 --> 00:34:49,679
was so awesome let's get it done and

1076
00:34:48,119 --> 00:34:52,760
that concludes today's episode of the

1077
00:34:49,679 --> 00:34:55,750
Cannabis law Now podcast until next time

1078
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Hilary Bricken

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