2020-03-01 Entrepreneur Magazine

(Sean Pound) #1

In coming months, the
anti-counterfeiting defense
strateg y will likely roll out to
other brands, too. KushCo, a
public company that produces
marijuana packaging, recently
announced a deal that would
allow it to distribute De La
Rue’s secure packaging.
Given the volatility of the
cannabis market, the ability
and courage to change course
quickly seems to be the likeliest
path to success. “This feels like
the competitive software space,
where you’ve just got to be
ready to pivot multiple times,”
says Jason Luce, who sold a
cybersecurity company before
starting the cannabis company
Canvas 1839. “When something
changes, you want to be one of
the first 10 companies to figure
out how to take advantage of it.”
In October, Luce was lead-


ing a product session for a new
CBD vape pen he planned to
launch under the new brand
name Canvas. But with the
vaping crisis just beginning to
break, the product risked scar-
ing customers. So the company
changed course, instead launch-
ing a “Listerine-type strip”
infused with CBD. The product
isn’t marred by the sins of coun-
terfeiters, and that’s something
customers and investors seem
to appreciate. “But who knows
what’s coming at us next?” says
Luce. “Whatever it is, we’ll be on
top of it by the end of the week,
analyzing how to pivot and fig-
uring out how we can use the
change to our advantage.”

DONESON, the man who fell vic-
tim to a counterfeit cartridge,
lost 30 pounds during his ill-
ness. In the ICU, his organs

It’s a happy ending—and, just
maybe, a metaphor of sorts for
the cannabis industry’s woes.
Because in a way that nobody
is totally comfortable talking
about, the outbreak of vape ill-
nesses has spurred greater over-
sight and possibly united legal
sellers. It might actually prove
to be a positive turning point for
the legal industry.
“Now is the moment in his-
tor y,” says UCBA’s Kiloh, “where
I think consumers are asking, ‘Is
the cost increase worth the reas-
surance that I have something
safe and healthy?’ I’m not trying
to say we needed some catastro-
phe for the cannabis industry to
see some growth, but with every
catastrophe comes a new lens to
look at things.”

Clint Carter is a writer based
in New York.

started shutting down, and
when his temperature spiked
to 105.4°F, doctors covered his
body with ice bags to keep him
alive. His wife sobbed while
signing the do-not-resuscitate
order, and the hospital began
pumping antibiotics and ste-
roids into his body.
But he was one of the lucky
ones. The next morning, he
woke up at 5:40. The room was
dark, save for the monitors
behind him. But he was alive.
And, well—he felt fine. Normal,
even. And he broke out laugh-
ing. “Then I started taking
everything off—all the moni-
tor stuff, the tubes and oxygen,
just ripping things off my body.”
Alarms went off, nurses rushed
in, and Doneson announced: “I
haven’t eaten in a month. I’d like
scrambled eggs, French toast,
and cranberry juice.”

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