23 Visionaries Who Shaped The Cannabis Landscape In 2023

In 2023, the cannabis landscape was a whirlwind of evolution and innovation, a year that redefined the boundaries of possibility. At the heart of this transformation were the Benzinga Cannabis Capital Conferences (CCC) in Chicago and Miami, not just reflections of change but the very arenas where the future of cannabis was daringly reimagined. In this article, we’ll explore the thought-provoking insights and visionary perspectives shared by speakers at these conferences.

The Benzinga Cannabis Capital Conference is returning to Florida in 2024. The event will gather top minds in the cannabis space at The Diplomat Beach Resort in Hollywood, FL, on April 16 and 17. Get your tickets now at bzcannabis.com. Prices will increase soon.

Brett Finkelstein

Brett Finkelstein is the managing director at Phyto Partners, a venture capital fund specializing in cannabis. Finkelstein, while maintaining a stance of optimism regarding cannabis stocks and federal developments impacting capital access and safe banking, said, “It’s a big win for us obviously, but I think the industry needs this to demonstrate to outsiders that we’re not all crazy and why we are committed to this sector: genuine companies are experiencing real growth.”

Morgan Paxhia

Morgan Paxhia is well-known in cannabis investments as the co-founder and managing partner of Poseidon Investment Management. Coming from a finance background, he redirected his attention to the cannabis industry where he excels at recognizing potential prospects and providing guidance to ventures. In an article written by Paxhia discussing what he learned at the Benzinga Cannabis Conference, he notes that there has been a growth slowdown in established markets, which came as a surprise to companies.

David Kram

David Kram, a member of Spring Leaf Capital, specializes in identifying and advising on investment prospects within the cannabis industry. His expertise lies in promoting growth and successfully navigating the challenges posed by this sector. While at CCC, Kram highlighted the potential for returns in limited license markets and observed a strategic shift among multi-state operators (MSOs). “I think the ‘land grab’ that many MSOs pursued over the last few years is largely over because they’ve already established a presence in virtually all their target markets,” he said.

Crystal Millican

At the Chicago conference, Crystal Millican, senior VP of marketing and retail at Cookies, detailed its innovative reverse licensing strategy. The model involves setting up operations in a state, finding partners with the necessary licenses and handling everything from infrastructure upgrades to complete operational management. Cookies’ approach, which includes paying rent and royalties to use a partner’s license, contrasts with traditional models that typically involve licensing out intellectual property.

Christine Smith

Christine Smith, CEO of Grön, leveraged her project management skills to establish a presence in the cannabis industry with her company, known for artisanal cannabis-infused snacks in the American Northwest. At the CCC in Miami, Smith spoke about the evolving role of cannabis edibles. She acknowledged their recreational appeal and emphasized their integration into everyday life, highlighting a shift in public perception and the use of cannabis-based edible products.

Josh Hirschey

Josh Hirschey serves as the president of Timeless Refinery, a key player in the cannabis industry. He spotlighted the resonance of cannabis brands within the industry. “There’s a lot of talk about price compression and the race to the lowest price in the cannabis industry,” Hirschey emphasized. “However, looking at the broader picture in most markets, you’ll find that the top-selling brands are often not the cheapest in the state. This sends a clear message: consumers are responsive to brand messaging.”

Kit Gallant

Kit Gallant, CEO of Fernway was among the esteemed attendees at the CCC. One of the aspects of Gallant’s participation in the conference was his exploration of innovative ideas with a specific focus on reverse licensing. This approach exemplified his dedication to staying ahead of industry advancements and to challenging conventional norms.

Alex Kwon

As CEO and co-founder of Advanced Vapor Services, Alex Kwon participated in the ‘Resilience in Ancillary Cannabis’ panel at CCC, discussing the evolution to Cannabis 3.0. He shared strategies for navigating industry changes, focusing on cost-effectiveness per milligram or milliliter. He also highlighted the development of reliable hardware and cartridges as key to maintaining brand integrity and avoiding negative consumer perceptions linked to product defects.

Tom Zuber

Tom Zuber, founder and managing partner of Zuber Lawler LLP also spoke on the ‘Resilience in Ancillary Cannabis’ panel at CCC. Known for his extensive legal expertise in regulatory matters, Zuber’s impact on the sector is evident through his notable legal contributions and leadership, for which he was recognized as one of High Times’ “100 Most Influential People in the Cannabis Industry.”

Jenn Meadows

Since 2020, Jennifer Meadows has been pivotal as Würk‘s COO, leveraging her 20+ years in business development and operations to drive growth. At the CCC in Chicago, she stressed the need for cannabis companies to adopt scalable, custom human capital management systems, highlighting the importance of solid banking ties and robust compliance for expansion. Meadows also remarked on the unique banking and operational challenges cannabis companies face despite similar tax issues like the 280E regulation with other sectors.

Brett Novey

Brett Novey has led PharmaCann as CEO since 2019 by guiding its expansion in the cannabis industry since joining in 2016 with his financial and operational expertise. At the CCC in 2023, Novey delved into the importance of diverse pre-roll products and innovative packaging to cater to evolving market demands. He highlighted a range that includes singles, multi-packs, infused options, and premium pre-rolls with filter tips, noting the growing popularity of multi-packs and the effectiveness of pop tops and glass tubes for freshness.

“Once you try a glass tip, you’ll never go back to using a paper tip. In my view, it’s a game-changer of that magnitude. It’s a game-changer for preserving the freshness of the flower,” underlining his approach to meeting diverse consumer needs in the competitive cannabis landscape.

Harrison Bard

At the CCC, Harrison Bard, CEO and co-founder of Custom Cones USA, contributed his insights as a panelist on “Pre-Rolls Are Cool, But There’s A Lot More To Them.” Bard presented intriguing industry data, revealing that while Canadian pre-roll sales saw a 7% increase year-over-year, the U.S. experienced a slight 1% dip.

“Despite the decrease in sales, the total number of units sold in the U.S. was higher, indicating a robust and sustained demand for pre-rolls,” he said. Bard specifically highlighted Michigan as having the largest market for pre-rolls in the U.S., offering a perspective on the potential of the pre-roll sector.

Gabe Mendoza

Gabe Mendoza, EVP of operations at 4Front Ventures FFNTF, has made significant strides, particularly in the terpene-infused pre-roll market. His leadership in projects and management expertise has been crucial, especially since the pre-roll category’s growth post-pandemic.

Mendoza noted the importance of unique market propositions. “It’s not just about maintaining the quality of your products but also ensuring their availability. Diving too wide without enough product can jeopardize this consistency. Hence, you need to determine how to manage your limited availability effectively, whether by reaching a broad audience or focusing deeply.”

Jason Tueni

At a conference this year, Jason Tueni, CEO of Oak Canna & Wellness, said his company is focused on diversifying pre-roll products and innovative packaging. Since establishing Oak Canna Brands in Michigan and leading the cannabis market with products like BANNED edibles and CANNA BOYS, Tueni noted that the company is offering a range including singles, multi-packs and premium infused pre-rolls. His approach to packaging with cost-effective pop tops and class tubes for freshness caters to varied consumer preferences.

Emily Paxhia

Emily Paxhia, founding partner of Poseidon Investment Management, shared vital insights at two key events in 2023: the Benzinga Cannabis Capital Conference in Miami and later in Chicago. Paxhia emphasized the industry’s need for innovation and capital to avoid stagnation and promote growth. Paxhia pointed out the industry’s challenges, including custody issues affecting the entire ecosystem, from public to early-stage companies.

Rosie Mattio

Rosie Mattio, founder of MATTIO Communications, has been transforming her one-woman P.R. firm, established in 2004, into North America’s largest cannabis-focused agency, reshaping industry discussions. At a CCC panel discussion, Mattio delved into the nuances of branding and marketing in the cannabis edible space. She prompted a dialogue on the critical role of branding, asking panelists about their approaches and successes in the market. The discussion revealed unique challenges faced in the industry, such as packaging restrictions in states like California, which affect product differentiation and consumer perception.

Boris Jordan

Boris Jordan, founder and executive chair of Curaleaf Holdings Inc. CURLF, discussed the company’s focus on enhancing flower quality in 2023 and its commitment to innovation. Curaleaf, known as the world’s largest cannabis firm by market cap, generates around 11 percent of its revenues from new products each year, with a strong presence in the infused product sector, Jordan reminded the CCC audience.

Jason Wild

This year, Jason Wild, executive chairman of TerrAscend Corp TSNDF, discussed the resilience and financial strategies of cannabis companies. He commended them for achieving sustainable business and positive cash flow. “If you are in a position where you’ve got your business in a sustainable place where you’re not just positive cash flow from operations but also have some money left over and are cash flow positive after you pay your taxes or whatever your accrued taxes are, that’s commendable.”

Wild also touched on the pitfalls of high-interest borrowing and the potential benefits of changes to Section 280E for the industry’s cash flow.

Congresswoman Nancy Mace

Congresswoman Nancy Mace has been a vocal advocate for cannabis reform, a stance she shared at Benzinga’s 2022 cannabis event and has continued championing since. Emphasizing the need for states to control their cannabis laws, Mace compares the approach to alcohol regulation. “It’s been a very long, harmful, and expensive war on the plant, and we want to let states be responsible for the cannabis laws they have, state-by-state.”

In 2021, Mace introduced the States Reform Act to Congress to support veterans, law enforcement, farmers, businesses and those with severe illnesses while advocating for criminal justice reform.

Martha Stewart

In 2023, Martha Stewart, lifestyle guru, businesswoman and notable figure from CCC’s past speakers, made waves in the wellness and cannabis industry by launching a new CBD gummy line, Martha Stewart CBD. Developed in collaboration with Marquee Brands LLC and Canopy Growth Corporation Canopy Growth Corp CGC, these gummies blend Stewart’s culinary flair with cutting-edge cannabis research. The range includes Sleep, Chill and Extra Strength variants, each combining unique flavors with CBD.

Illinois Governor J.B. Pritzker

Illinois Governor J.B. Pritzker spoke at the September 2023 CCC in Chicago where he advocated for the state’s Restore, Reinvest and Renew Program. This program, aimed at rectifying the impacts of the war on drugs, focuses on using cannabis revenue for community development and fairness in the cannabis industry. Pritzker highlighted R3’s success, including a significant funding boost to support community projects. He also focused on Illinois’ progress in decriminalizing cannabis and clearing past convictions, affecting hundreds of thousands of residents. Additionally, the state launched the Institute 2 Innovate in January 2023 to strengthen grassroots organizations.

Alexa Alianiello

Alexa Alianiello, head of cannabis partnerships at X, formerly known as Twitter, was instrumental in launching cannabis advertising on the platform, a social media first. Speaking at Benzinga’s Cannabis Capital Conference, she discussed her connection with cannabis and its industry potential. Under her leadership, X now allows cannabis-related advertising, offering a significant new marketing avenue for the industry. She highlighted Twitter’s role in facilitating cannabis conversations and noted the success of brands like Trulieve Cannabis Corp and House of Puff in utilizing the platform to boost sales.

Charlie Bachtell

Charlie Bachtell, co-founder and CEO of Cresco Labs Inc. CRLBF, has navigated the tumultuous cannabis industry, as highlighted in his speech at the Benzinga Cannabis Capital Conference. His strategic focus on core markets, products, brands, and team members has been pivotal in maintaining Cresco Labs’ strong performance amidst unpredictable legislative and regulatory reforms. Bachtell’s approach, involving difficult decisions like shedding certain assets while retaining others, demonstrates his ability to make tough choices crucial for securing a stronghold in the rapidly evolving cannabis sector.

A Pivotal Year And More To Come

2023 marks a pivotal year in the cannabis industry, highlighted by discussions at the CCC where leaders like Brett Finkelstein and Jason Tueni showcased the industry’s edge for change. For those looking to delve deeper and hear more from influential figures, the upcoming CCC in Hollywood on April 16-17, 2024, is the perfect opportunity. Secure your tickets now before prices increase soon.

Market News and Data brought to you by Benzinga APIs