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:
-
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.
-
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.
-
Regulatory Landscape:
- The role of federal regulators in setting standards for testing and packaging.
- Variation in state regulations and the costs associated with prohibition.
-
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.
-
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.
-
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.
-
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/
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