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Y Combinator Cast

10/11/18

@ Y Combinator

Social equity programs are emerging to help disenfranchised individuals enter the cannabis industry, with some companies incentivized to support those affected by past cannabis laws.

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

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

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

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

We had a mix of funding sources, with about half coming from smaller angel investors who are forward-thinking and see the cannabis industry as the end of Prohibition.

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.

Y Combinator Cast

10/11/18

@ Y Combinator

Y Combinator provides valuable advice for entrepreneurs, especially in navigating the complexities of starting a business in the cannabis sector.

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.

Y Combinator Cast

10/11/18

@ Y Combinator

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

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.