On HuffPost Live today, Caroline Modarressy-Tehrani hosted several entrepreneurs and an investor in the cannabis industry:
- Mark Hadfield, Founder, HelloMD
- Alex Thiersch, Managing Principal, Salveo Capital
- Ethan Ruby, Founder & CEO, Theraplant
David Hua, Co-Founder & Chief Executive, Meadow
Hadfield sees the market evolving to include non-traditional consumers who perceive medicinal benefits. He believes that his demographic doesn’t want to be exposed to the counter-culture associated with the industry historically. He derided the notion that the entire medical marijuana is a farce to aid purely recreational use.
Thiersch believes that stigma remains a major obstacle for the industry. He sees the industry moving towards serving more female customers. The legal challenges are holding the industry back, especially banking. He believes that the market will be further delineated between recreational and medical consumers.
Ruby, confined to a wheelchair for the past 14 years after an accident, sees a transition from traditional black-market to one that is oriented towards patients, which implies a more pharmaceutical approach, with a variety of new delivery systems. He discussed that the low patient counts in Connecticut will be impeding profitability for the next few years.
Hua explained the launch of Meadow following his experience as a patient and his interaction with Berkeley Patients Group, which was struggling with some work processes. He observed that many people are entering the industry with perspectives developed from outside.
Watch “#WhatsWorking: How Marijuana Startups Are Surging”: http://live.huffingtonpost.com/r/segment/marijuana-weed-start-ups-medical-whats-working/51af8a26fe34441e8c00007d