Matthew: Hi. I’m Matthew Kind. Every Monday look for a fresh new episode where I will take you behind the scenes and interview the insiders that are shaping the rapidly evolving cannabis industry. Learn more at www(dot)cannainsider(dot)com. That’s www(dot)cannainsider(dot)com. We’ve talked about CBD or cannabidiol on the show many times. Just to review thought, CBD is a non-psychoactive compound from the cannabis or hemp plant that has many benefits. Now our friends at Treatables have put together a one list chew that can help your dog or cat become more calm and balanced. Valerie wrote in to tell us about her experience with Treatables.
Valerie writes, “My ten year old Husky/Sheppard/Lab mix Chuck is my faithful companion. Chuck got significantly quantifiably better from using Treatables. It took about three days of feeding Chuck two to three doses a day to see the full effect, but he did get noticeably more comfortable on the first day of feeding that to him. Before CBD Chuck limped and couldn’t enjoy longer walks though he clearly had the desire for them. Once he started taking them he could leap around again.” Thanks for writing in Valerie. Treatable Chews are legal and available in all 50 states right now. If you want to learn about what Treatables can do for your pet, visit www(dot)cannainsider(dot)com/pet and get a coupon code for 10% off your order. Once again that url is www(dot)cannainsider(dot)com/pet now here’s your program.
One of the interesting things that is happening to the cannabis industry as it grows is that it is segmenting or specializing to different branches of expertise. One of those branches is infused products. The problem for entrepreneurs trying to get into the infused products business is that it takes capital and also expertise in an ecosystem of relationships that new entrepreneurs may not have. That is why I’ve asked Patrick O’malley onto the show today to talk about infused products and his new accelerator for infused products called Good Life. Patrick, welcome to CannaInsider.
Patrick: Well Matt thanks for having me on your show today and before we get started I would just like to thank you on behalf of myself and all your listeners because speaking for myself, CannaInsider is a great resource. I definitely learn something new in every podcast.
Matthew: Oh thank you. Thank you. Well Patrick to give listeners a sense of geography can you tell us a little bit about where you are in the world today?
Patrick: I’m in Denver at the Good Life Colorado Manufacturing Facility.
Matthew: Oh good. And before we dive into what Good Life is can you tell us a little bit about your background and how you came to start Good Life and your background before cannabis entirely?
Patrick: Sure well it’s not a particularly exciting creation story unfortunately, but going way back during law school I created a law school test prep company and expanded it nationwide and that was a great business for many many years but then unfortunately for me law school applications plummeted, but fortunately for me it was then late 2013 and it looked like regulated marijuana was probably here to stay. So the time was right and Denver is certainly the Silicon Valley of marijuana so it’s the right time, the right place and now I needed the right niche where I could add some real value. So taking a page out of the tech industry playbook, I decided that a marijuana brand accelerator was a great niche to fill.
Matthew: Yes and there’s other accelerators out there in the cannabis space. CanopyBoulder being probably the biggest and most well-known and we’ve had Patrick Rea and Micah Tapman on the show before but your accelerator is a little different. Can you go into what Good Life and perhaps how it’s different than other accelerators out there?
Patrick: Sure. Well the term accelerator is sort of a vague term. It means different things to different folks. So what I can say I do know the Canopy guys quite well. I certainly go to a lot of their cocktail parties and currently the primary difference is that Good Life companies touch the plant and Canopy companies do not touch the plant. I have spoke with Micah and they’re starting to rethink that position, but I don’t know where they are with that right now. On an operational level they have a great system to foster new concept stage firms that are usually geared towards providing the B2B goods and services that the industry is going to need.
On the flip side or different than that is Good Life firms are going to typically be the ones creating tomorrow’s consumer marijuana brands which are the B2C brands like you will be seeing on the shelves at your local dispensary. Further on an operational level Canopy follows the model of Y Combinator and Techstars. They bring I their classes twice a year for kind of like a semester and then they graduate them. Whereas Good Life is much less structured. Each deal is really quite different.
Matthew: Okay. What are some of the pain points you are seeing in the cannabis industry that give you the aha moment to start Good Life where you felt like hey this is something, a niche I really need to fill?
Patrick: Sure well pain points (5.21 unclear). The reason why is this is a big new industry with no established players. Just how big, well a lot of us know the numbers but it’s good to put the context in. The domestic, what I call THC, market, if you will, is still largely legal yet even so it’s still a $40 to $50 billion market which is the same size as the coffee industry from everything from Sanka to Starbucks. Now when you look at it more broadly at all the cannabis applications, the nutriceuticals, the pharmaceuticals, the food supplements, hemp products etc., very plausible arguments for a $200 billion ecosystem which by the way is pretty much the exact same size as the alcohol industry.
So this entire $200 billion ecosystem has to be built from scratch and fortunes are going to be made by folks in all of the sub industries simply by eliminating various pain points. Now for example I spoke to a grower who spends approximately $200 per pound to hand trim his buds. He doesn’t use trimming machines because he feels that those machines damage the buds. The thing is $200 a pound is an extraordinary amount of money, but the thing is lumber mills figured out long ago how to get the most value out of any given tree with minimal human involvement. There’s some mechanical genius, maybe it’s even one of your listeners, who is currently or will design a process or machine that yields hand trimmed quality for a fraction of the price, and that guy or gal well they’re simply going to be printing money, and that’s the kind of person I want to talk to for Good Life.
I’ll give you another example. In 2009 there was this particular, popular type of concentrate that was being sold in Colorado, but then the regulations changed and you could no longer use the necessary solvent, but now I’m working with an outfit that they figured out how to make this special concentrate using compliant methods. So once they scale up and execute, they basically have a virtually guaranteed market share. So maybe not a sure thing, but about as close as you can get. Then there’s those other pain points being solved. Probably the biggest one being the Canna Quitter problem as we’ve started to call it, and Canna Quitters simply put are the biggest pain point for the entire industry and the companies that successfully chip away at that very difficult issue are going to be very well rewarded.
Matthew: Yeah you mean people that try cannabis and then have an experience that’s not perfect or optimal and they’re like I don’t want to do this anymore. It’s like how to bring them back so that they have good experiences. Is that what you mean?
Patrick: Yeah, yeah. It’s gets more involved than that, but that is certainly the start of the issue.
Matthew: Okay. Now you’ve kind of used a little lean startup techniques and methodologies for trying out little products cheaply and quickly with dispensaries. Can you talk a little bit about how you think about that and what you do there to kind of see what they want and what they don’t want?
Patrick: Sure. Well before I open the doors of the accelerator I developed a few products. Certainly wanted to see if they would be breakaway successes, but it was also a learning process in order to learn the realities of selling into this particular market because I didn’t have that experience personally. Although I personally love and still love using these products that I made, mostly focused on unique delivery systems, and I’ve certainly have continued forward using the elements of some of what I’ve learned on those projects. But what I found when I put it up against the marketplace is that these products were simply not the right product for this market.
One part of my job is helping entrepreneurs, actually a big part of my job, is helping entrepreneurs understand that having a great product that you personally like to use is just the starting point. It also needs the right product market fit. It needs to be easy to explain and understand. It needs to be easy to productize, to manufacture at scale and finally to merchandise.
Matthew: Right. Right. It helps too if the target prospect has the market segment in their mind. So if you’re making a new kind of dugout, well everybody kind of understands what a dugout is.
Patrick: Surprisingly not actually. We had a lot of balneal bud tenders that gave us a blank stare when us 40 year old guys showed them disposable dugouts. They didn’t know what they were.
Matthew: Okay. Now I agree with you. I think the cannabis market is going to chip away and kind of cannibalize the alcohol industry to an extent, but why do you think that’s going to happen and do you see it happening already in perhaps Denver when you talk to other people?
Patrick: Yes. That’s an interesting question that spans a few different issues. Certainly there’s always the middle aged person like myself. The term I use is soccer dad. It’s not just the moms that take the kids to soccer trust me, or maybe the hockey dads because that sounds cooler. Yeah a little tougher. Us soccer dads as we get older, hit our middle age, alcohol becomes much harder to tolerate and cannabis much easier to tolerate. You don’t wake up with a hangover, but there’s even aspect of being on your personal wellness spectrum. I’m personally not a medical cannabis user but I would term squarely recreational but I had a pulled muscle a few days ago and it really hurt and it was going to be a couple days until I got into the doctor so guess what. I pulled out my cannabis and it wasn’t the cure all but it certainly helped a lot. So there’s definitely some aspects there that you’ll see the middle age market I think chip away at their alcohol usage and substitute alcohol for the various cannabis products.
Matthew: We talked a little bit about the millennials there. You’re a hockey dad. What other types of demographics do you see adopting cannabis and in what way?
Patrick: Well growing the marijuana market is definitely going to be a family project. It’s millennials, it’s soccer dads and now we’ve even got grandmas trying it for their health issues. Although the growth of the consumer base from these what I call canna returnees or even canna newbies may not quite yet be showing up on national polling data. I’m already seeing it and hearing it happening here. We’re about two and half years into legal adult use in Colorado and quite honestly most of the stigma has melted away. I’ve got these soccer dads or hockey dads that I’ve known for 15 years and they come and talk to me at the kids’ hockey games or at a church function or at a graduation party and these guys just like me, they used marijuana in college and maybe a little bit after, but then they quit smoking maybe 10 to 15 years ago. Usually they just got too busy with kids and jobs and a big component was losing their dealer. They weren’t going to bother to find a new dealer, and they certainly weren’t going to grow plants and maybe they didn’t even want to smoke. Today they, like me, can walk into a clean store and buy an edible or a pill or some other non-stigmatized THC delivery system and at least some of the growth we’ve seen in what I would term a “mature” market like Colorado is going to continue to come from these hockey dad canna returnees. Again for those reason I have mentioned about, alcohol being, well after all it’s a poison. It’s harder for your body to tolerate. Whereas marijuana fits the bill nicely for middle age people who need maybe a stress reliever kind of within their personal wellness spectrum.
Matthew: Do you have any concerns at all about big tobacco getting into the space and pulling the picnic blanket out from underneath the small guys?
Patrick: Well the very simple answer is nope, not at all. There’s more to it than that but basically I’ll double down on that statement. Big tobacco won’t touch marijuana with a ten foot pole even after full federal legalization, and lots of people disagree so why do I stake out this position. Well the short answer is there’s absolutely no business synergies to be had here. Here’s kind of the longer answer. First of all big tobacco doesn’t know how to compete in a free market. Barriers to entry have shielded them from new competitors for just decades and they haven’t even innovated their core product for generations. So they’re not nimble, the opposite.
Second of all, marijuana requires a totally unique manufacturing reality. Phillip Morris simply does not want to set up a factory in each state. Third thing is that marijuana is totally unique wholesale distribution system which is radically different in each state to boot. Altria, one of the large conglomerates, they like to work with very large distribution wholesalers. Altria does not like the idea of 50 states specific distribution arrangements. Then there’s also a fourth thing is just that marijuana has a totally unique retailing network. R.J. Reynolds knows how to sell into 7-11. R.J. Reynolds does not know how to sell into an industry where the largest retail chain has all of 15 stores.
Finally the fifth thing is it’s simply easier and safer for them to take their tride and true playbook and take their cash and go abroad. They would prefer to go to countries with young, newly affluent middle class that aspires to buy Western brand. Don’t get me wrong big tobacco always faces challenges in foreign markets, but these are challenges that they already know and they know how to deal with them. Now I will give myself one caveat there is let’s talk about small tobacco. Let’s say companies with a market cap of under a billion dollars. Well these companies can’t easily go abroad. So they certainly might take a stab at marijuana and actually have talked to at least one guy who tells me he’s the tenth largest tobacco distributor in the United States. He’s taking a stab at it, but he’s not an 800 pound gorilla that has all the advantages that come with massive scale. So that’s sort of my thesis on why big tobacco is going to avoid marijuana markets. There’s just nothing in it for them.
Matthew: Gosh I hope you’re right. That would be great.
Patrick: That would be great.
Matthew: Turning back to Good Life accelerator. Let’s walk through just what you see as a typical type of applicant and what you’ll be doing for them and what you’ll get out of it and what they’ll get out of it.
Patrick: Okay let’s break that out. Well let’s start with the applicants. What am I looking for in an applicant. Well I call myself a sweat equity venture capitalist, and just like any venture capitalist I look at the product and I look at the team but the emphasis is on the team because any VC will tell you that if the team isn’t good enough, it doesn’t matter how good the product is. So normally I expect to see a team of two or more people but that’s certainly not required. Now if somebody comes on board with me. I hate to say application accepted them. It makes it sound almost academic. This is a business transaction, but if somebody comes onboard with the Good Life accelerator, the big benefit for them is that they save a lot of time and they save a lot of money.
Conservatively, depending on your situation, Good Life might save them nine months and a half million dollars versus going out and getting their own facility and license. I tell all the candidates that there is no template, that if we take on a company that’s very early stage, then Good Life operates like an incubator, helps them flesh out their entire business model and product. If we take on a company that has most of their business case and product work done, then Good Life operates more like an accelerator to continue that growth. If a company has literally their entire product and business ecosystem built out, proven up, (18.18 unclear) dialed in, then Good Life has the potential of operating like a very simple co-packer simply to get their product manufactured and on the shelves. For most of these companies, not all of them but for most of them the ultimate goal is to build a product and a business that can be licensed multi-state.
Matthew: That is a huge help because you know just getting your trim extracted into oil and having a kitchen where you can make your edibles and things like that. Just hunting for all those individual components is timely, expensive and it just can be frustrating. So I can see that someone in particular making an infused product would benefit from this.
Patrick: Sure, sure. Yeah. No, I mean certainly it’s the time and it’s the money, but a lot of people don’t have hundreds of thousands of dollars to sink into the real estate which is a critical component license, but more importantly most people don’t want to wait a year in order to try to get their license, in order to get their product on the market.
Matthew: And are the terms just individually negotiated on a case by case basis or is there some template you use for people that are going to be in the incubator or the accelerator?
Patrick: Truly there is no template, and the reason why is Good Life adds value in different ways for different companies so everybody needs a customized deal. Now maybe it’s a well funded group and maybe they have a new oil processing technology, but it’s still too early for anybody to assess if it’s truly valuable technology. So maybe they make a straight cash payment for Good Life’s services for a few months until they reach a technical milestone and then we reassess. On the flip side maybe a group has no funding at all but I see a lot of promise so I might offer them a straight equity deal with obviously the more time and resources I provide the more equity I would require. Of course we can do hybrid deals, but the one thing that I always build into every deal is something to ensure that we all have the same goal which is to make this new company worth as much as we can and as fast as we can. We really definitely want to align those goals.
Matthew: Now in terms of would not be an attractive applicant, is that someone that just wants to create kind of a me too product with no unique selling proposition?
Patrick: That’s about as accurate as you can state it, yeah.
Matthew: Okay. Do you see a lot of those coming to market where it’s like hey I want to make a chocolate bar and if you just say hey try something unique, what do you a say to someone like that?
Patrick: Well thankfully no I haven’t had to have that conversation very often which was a pleasant surprise. I was worried that exactly that would happen, but it’s a function of two things. Certainly there are people out there who are developing brownies, don’t get me wrong, but there’s so much white space in this market that I can be talking to this person about their special kind of concentration, this person about their extraction technology, this person about their CBD bath bombs. We’re building an entire ecosystem of consumer product good here or consumer packaged goods. So there’s more than enough white space for everybody to fill their own little niches and sub-niches.
Matthew: Okay. And have anybody gone through Good Life to date?
Patrick: Well it’s not brand, brand new but it’s fairly new, but we do have one early success story. Last fall I started working very intensively with Choose Corp which created the…
Matthew: Sure, sure we’ve had them on the show.
Patrick: Actually a couple months ago. It was a good interview and I embedded very deep into that company because I knew that they had really a game changing product. So that was an all hands on deck sort of situation. So I basically for about six months just delayed seeking new candidates because I didn’t have enough bandwidth. Now Choose has products on store shelves as of about a week ago and they’re raising an investment round which now affords me the opportunity to do it all over again with the next transformative company, but I’m definitely staying close to Choose and I’m serving as their general council so I won’t be leaving them any time too soon.
Matthew: What a unique opportunity with Choose because essentially their hemp terpene puck is legal in 50 states since the THC is so low but they say use it with your own cannabis and then you can kind of custom craft your mood. That’s a very unique and also easy way to get out to market. So I can see why you were interested in (23.10 unclear). There’s definitely a value proposition there.
Patrick: Yeah no it’s an interesting product and for me as an attorney it had all sorts of interesting legal implications and ways to sidestep, not sidestep the rules, the rules simply didn’t apply so that one as I said I had to embed pretty deeply because they had a lot more legal questions and paraphernalia type questions than a typical company would face so it was an interesting challenge.
Matthew: Do you take outside investment at all Good Life?
Patrick: Well the short answer is no. As any of your listeners who have tried to raise funds know, chasing investment dollars is truly a full time job, and so although I could probably find great ways to deploy outside investment, I frankly don’t have the bandwidth to do the whole dog and pony show I’d need to do to chase those investor dollars and quite frankly I’ve deliberately set it up so I don’t need other people’s money. No, obviously if one of your listeners is investing in the industry and agrees that I’m really on to something big with this accelerator approach, then sure I would love to hear from them, but it’s certainly not my focus.
Matthew: Okay and how can they reach out to you if they want to about that?
Patrick: Sure well they can just visit the website www.good-life-colorado.com and I certainly look forward to hearing from your listeners who have the next big thing.
Matthew: Yeah me too. I would love to have you back on the show after you get some more people to go through the program since we had Charles from Lucid Mood on, I would like to see it because these are definitely interesting times and this definitely a bow wave of the industry seeing how things unfold. I mean I don’t know of anybody else really doing things like this. So this is Kudos to you for going after it.
Patrick: As I said, there’s plenty of white space and plenty of sub-niches that need to be filled.
Matthew: Let’s pivot to some personal development questions. As you look over the arc of your life is there a book that has had an outsize impact on your life that you would like to share with CannaInsider listeners?
Patrick: Well actually even better I’ll give you two.
Matthew: Two, alright.
Patrick: Yes bonus day. So the first one is Swim With the Sharks Without Being Eaten Alive and that’s by Harvey McKay. Old, old book, decades old. It has simple anecdotes from the frontline of business, and most business books pretend to be scientific but let’s be honest, business isn’t science. Business is subject matter expertise plus business best practices plus human interactions. So that’s why I like that book.
I also have a second industry specific book recommendation which is the Cannabis Manifesto by Steve Deangelo who I’m sure you’ve interviewed more than once, but Steve makes the point that marijuana is not really clear cut medical or rec. Instead marijuana can play a role in everybody’s wellness spectrum. It might be one person’s anti-seizure treatment of last resort. It might be another person’s way to just simply have fun and unwind, and we all fall somewhere on this health/wellness/recreation spectrum. What I liked about the Cannabis Manifesto is it really clarified that issue for me.
Matthew: Is there a tool, web based or otherwise, that you consider indispensible to your day to day life that you would recommend?
Patrick: I don’t really. I just use all the standard technologies so I’m about as boring as that gets.
Matthew: Okay that’s fine. I still sometimes just kind of go to the little pen and paper, little book. I do have one, a little one that can fit in wallet that I find is kind of my go to when I’m in a pinch that has really been helpful for me because I always forget to bring a notebook with me on the go, but I have a credit card size one in my wallet. I’m finding that one is not very tech savy but kind of my go to lately.
Patrick: You can’t forget where you filed it. Actually I use my Gmail to keep all my notes because that’s one place that’s my inbox and where I make my notes and where everybody contacts me. So I guess I live in my email box.
Matthew: So Patrick I understand you have a pop quiz for me. Do you want to tell me what that is and what I’m about to be quizzed about?
Patrick: Well basically the quiz is about why the cannabis market will look a lot like the alcohol market. So if you’re willing to take a pop quiz, we’ll walk through that and see what you think.
Matthew: Sure let’s do it.
Patrick: Okay well what’s the largest domestic US fast food chain?
Patrick: Yeah 14,000 units. I did have to look that up. I don’t know these things off the top of my head. So what’s the largest coffee shop chain?
Matthew: Dunkin Donuts.
Patrick: Oh come on.
Matthew: Starbucks. I thought it was a trick question.
Patrick: That was not the trick question. Here’s the trick question. What’s the largest full service liquor retailer? You’re right, there isn’t one.
Patrick: So you got two out of three. Why are there no large alcohol retailers? Simple, prohibition. Post prohibition each state made its own rules that are still with us 83 years later and each state made its own rules. That’s already happening in marijuana regulation so it’s a forgoing conclusion that post prohibition marijuana will follow the same state by state path that alcohol took which is again a reason why big tobacco is going to be boxed out. But even though alcohol retailing and distribution are fragmented state by state industry, you can still find your favorite national brands in any liquor store you walk into. So in the same way that brands are the most valuable slice of the alcohol industry so they will be in marijuana, and that is the reason I want to own equity in many many different marijuana brands. When I say brands I don’t limit the accelerator solely to consumer facing brands. If you have a strong B2B product like that inexpensive, high quality trimmer, I want to talk to you, or if you have a novel product or device that saves money for infused product manufacturers, I definitely want to talk to you. You know I think it’s instructive to see that just like the brands are the most valuable segment of the alcohol ecosystem, so the same will be true for marijuana.
Matthew: Great points. Also the States have a huge incentive to keep a national policy from overreach because they can define the tax regimen that benefits them the most. Once they get that revenue they’re not likely to give it up easily.
Patrick: Yeah, no you might see an overarching federal tax, but you’re certainly not going to see the federal government even really that interested in taking over. The FDA will definitely want a say so that will be actually probably the multibillion dollar question is what role the FDA plays in post prohibition regulation, and that’s a total question mark in my mind, but the answer to that will certainly end up driving a lot of industry to develop in say ten years out from now.
Matthew: Gosh it’s just so crazy to think about how successful the propaganda was to demonize cannabis. I mean it was an unbelievable success that it’s almost even hard to contemplate it. It’s that newspaper baron from…
Matthew: Yeah William Randolph Hearst and he owned all the newspapers and man did he get this deep deep into our psyche about why this plant was demonized, and I think it was just because he said, he gave a lot of reasons, but he said it was cannabis and hemp. First he conflated those two into one plant which is crazy, and then it was because he wanted the cotton I believe to be the kind of defacto for a lot of different commercial applications. He didn’t want hemp to get traction. I believe that’s right, but here we are decades and decades later trying to convince people that we shouldn’t (a) demonize hemp. There’s no psychoactive component at all and then now cannabis too, but it makes one wonder if that propaganda campaign was that successful, what else do we believe that’s simply totally untrue. What else in our society, it’s so deeply entrenched into generations that we believe is true but it’s not.
Patrick: Well that is actually a very good question, but I think the thing that I take away from that is that beware of the law of unintended consequences. How many millions of lives have been ruined simply because a very unpleasant billionaire of his time decided he had a problem with the plant. Maybe it was a commercial interest or maybe it was a morally driven campaign, but he certainly had some allies. But what I find actually interesting, Hearst is one example and Slinger, the former alcohol drink prohibition. I mean you can point to a couple of gentlemen over history, and I’ll use the word gentlemen sort of loosely, but you can look a couple of gentlemen over history and just through force of will and being absolutely rabid in pursuing a goal, bad goal in this case, but in pursuit of that goal they basically drove policy that lasted for generations, ruined millions of lives, stifled entire industries. We’re only just now bringing back hemp as an industry after probably what three or four generations. So yeah although history sort of eventually finds its way, don’t underestimate the power of a single individual to radically alter the course of history for decades until it finally course corrects.
Matthew: Agreed and well said. Patrick as we close can you tell the listeners again how they can learn more about Good Life accelerator and connect with you?
Patrick: Sure thing. I would be happy to. The website is www.good-life-colorado.com and those three words are separated by a dash or a hyphen. Again it’s www.good-life-colorado.com and I look forward to hearing from your listeners who have the next big thing.
Matthew: Great. Patrick thanks so much for coming on CannaInsider. We really appreciate it and good luck to you.
Patrick: Thank you.
Matthew: If you enjoyed the show today, please consider leaving us a review on iTunes, Stitcher or whatever app you might be using to listen to the show. Every five star review helps us to bring the best guests to you. Learn more at www(dot)cannainsider(dot)com/itunes. What are the five disruptive trends that will impact the cannabis industry in the next five years? Find out with your free report at www(dot)cannainsider(dot)com/trends. Have a suggestion for an awesome guest on www(dot)cannainsider(dot)com, simply send us an email at feedback(at)cannainsider.com. We would love to hear from you.
Please do not take any information from CannaInsider or its guests as medical advice. Contact your licensed physician before taking cannabis or using it for medical treatments. Lastly the host or guests on CannaInsider may or may not invest in the companies or entrepreneurs profiled on the show. Please consult your licensed financial advisor before making any investment decisions. Final disclosure to see if you’re still paying attention. This little whistle jingle you’re listening to will get stuck in your head for the rest of the day. Thanks for listening and look for another CannaInsider episode soon. Take care. Bye-bye.
Patrick O’Malley takes his experience as a cannabis-focused entrepreneur and founded an infused products accelerator called Good Life. Discover what infused products companies need to succeed.
[2:42] – Patrick talks about his background
[3:51] – What is Good Life
[8:34] – Patrick talks about startup methodologies and techniques
[10:25] – The cannabis industry is going to chip away at the alcohol industry
[11:52] – What demographics are adopting cannabis
[13:47] – Patrick talks about big tobacco getting involved
[16:45] – Good Life typical applicant
[21:43] – Making it through Good Life
[23:47] – Does Good Life take outside investing
[25:49] – Patrick’s book recommendation
[28:03] – Pop Quiz for Matt
[34:15] – Contact details for Patrick and Good Life
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What are the five trends that will disrupt the cannabis market in the next five years?Find out with your free guide at: http://www.cannainsider.com/trends