S04E114 - Matt Karnes - Navigating the GreenWave

In this insightful episode recorded at the CWCB Expo, host Keith Fiveson engages in a compelling conversation with Matt Karnes, the founder of GreenWave Advisors LLC. Matt shares his journey from a finance career to the burgeoning cannabis industry, a transition motivated by personal experiences with his mother’s illness and significant financial challenges.

Main Themes:

1. Transition to Cannabis Industry:

   • Matt Karnes discusses his shift from finance to cannabis, influenced by personal life events.
   • The initial challenges of entering a largely unregulated and less professional industry.

2. Financial Hurdles:

   • In-depth look at Section 280e of the tax code and its impact on cannabis businesses.
   • Anticipation of Schedule 3 rescheduling and its potential benefits for the industry, including federal legalization and improved banking regulations.

3. Regulatory Landscape:

   • The role of federal regulators in setting standards for testing and packaging.
   • Variation in state regulations and the costs associated with prohibition.

4. Medical Marijuana Research:

   • Potential changes in research and its impact on precise dosages and treatment efficacy for conditions such as fibromyalgia and Parkinson’s.
   • The convergence of recreational and medical marijuana markets.

5. Industry Complexity and Professional Expertise:

   • The intricate nature of analyzing the cannabis industry due to federal illegality and evolving state laws.
   • GreenWave Advisors’ role in helping clients navigate these complexities using Matt’s accounting expertise.
   • The necessity for seasoned professionals to manage the financial intricacies of the cannabis sector.

6. Technological Innovations:

   • The influence of digital marketing and blockchain technology on the cannabis industry.
   • The use of NFTs and blockchain to enhance user experience, improve advertising, and provide access to exclusive events.

7. Reducing the Illicit Market:

   • The importance of consumer education in reducing the illicit cannabis market.

Contact Information: Listeners interested in learning more about these topics or seeking professional guidance in the cannabis industry can reach out to GreenWave Advisors LLC for further exploration.

Tune In: Join us for a deep dive into the evolving cannabis world, where finance meets innovation and regulatory challenges. This episode contains expert insights and forward-thinking perspectives from one of the industry’s key players.

 

For more information on Greenwave visit their website: https://www.greenwaveadvisors.com/