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David Hua

10/11/18

@ Y Combinator

In California, the removal of the one-acre cap on cannabis cultivation in 2023 will challenge small farmers, who must focus on genetics and sustainable practices to compete with larger operations.

Video

Cannabis Startup Founders David Hua and Vincent Ning on Legalization, Banking, and Industry Trends

@ Y Combinator

Cannabis Startup Founders David Hua and Vincent Ning on Legalization, Banking, and Industry Trends

10/11/18

Related Takeaways

David Hua

10/11/18

@ Y Combinator

California's cannabis market is fragmented, with no dominant brands due to regulatory hurdles and the need for local permits, which creates a disconnect in the industry.

David Hua

10/11/18

@ Y Combinator

The cannabis supply chain has been reconfigured since legalization in 2018, requiring growers to navigate complex licensing and compliance processes.

David Hua

10/11/18

@ Y Combinator

The cannabis industry is still young and faces challenges with capitalization, often ceding ownership to larger companies, which can disadvantage original advocates.

Y Combinator Cast

10/11/18

@ Y Combinator

California's legalization has led to the expungement of many cannabis convictions, reflecting a shift towards social equity and justice in the industry.

David Hua

10/11/18

@ Y Combinator

In California, 80% of cannabis sales, including the black market, originated from the state, making it a significant market for cannabis distribution.

Y Combinator Cast

10/11/18

@ Y Combinator

Building a community within the cannabis industry is crucial for collaboration and support among entrepreneurs facing unique challenges.

David Hua

10/11/18

@ Y Combinator

The cannabis industry faces high taxation, including a cultivation tax of around $150 per pound and a 15% excise tax on wholesale value, contributing to high retail prices.

Y Combinator Cast

10/11/18

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In five to ten years, I believe more states will pass favorable regulations for cannabis, starting with decriminalization and moving towards recreational use.

Jordan Peterson

08/19/22

@ Lex Fridman

You can't reduce an industry by fiat without risking its collapse; for example, cutting 30% of farmers could devastate the entire agricultural ecosystem.