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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.

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.

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.

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.

JD

James Dyson

04/04/23

@ ainslie + ainslie Performance People

Retailers often hesitate to stock new products because they are unsure of their marketability, but excitement and innovation can drive consumer interest.

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.

DH

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.

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.

DH

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.