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VN

Vincent Ning

10/11/18

@ Y Combinator

In the cannabis market, the most common products purchased are flour and pre-rolls, as they represent the base understanding of cannabis for consumers.

Video

YC

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

VN

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.

DH

David Hua

10/11/18

@ Y Combinator

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

YC

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.

DH

David Hua

10/11/18

@ Y Combinator

Brand loyalty exists in the cannabis market, but many consumers are also open to trying new products based on recommendations from budtenders.

DH

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.

DH

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.

DH

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.

DH

David Hua

10/11/18

@ Y Combinator

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

VN

Vincent Ning

10/11/18

@ Y Combinator

The fastest-growing demographic in cannabis consumption is actually baby boomers, who are increasingly replacing prescription drugs with cannabis.