The cannabis market isn't sophisticated yet, and many businesses struggle to secure investment without proper licensing.

The cannabis market is becoming more expensive, but consumers benefit from a wider selection and product testing due to legalization.

The cannabis consumer experience has evolved significantly, with a variety of products now available on the market.

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.

Fundraising for cannabis-related businesses is challenging due to the legal complexities and investor hesitance towards vice industries like cannabis.

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.

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.

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

Investors needed to become comfortable with the cannabis context before committing, which involved many introductory meetings to explain the industry.