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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.

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

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

Y Combinator Cast

10/11/18

@ Y Combinator

The cannabis industry needs to educate consumers about the origins and production of cannabis products to enhance their value perception.

Vincent Ning

10/11/18

@ Y Combinator

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

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

Cannabis companies often rely on cash transactions due to banking challenges, with over 90% of our transactions being in cash.

Vincent Ning

10/11/18

@ Y Combinator

The cannabis industry is seeing a shift towards products that are ratio-based or effects-based, rather than just strain-based, to appeal to a broader audience.

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.

David Hua

10/11/18

@ Y Combinator

Many medical cannabis patients have turned back to the illicit market due to price imbalances between legal and illegal products.

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.