Marijuana Business Magazine - January 2017

Steve DeAngelo Harborside/FLRish, Executive Director Age: 59 BACKSTORY: Steve DeAngelo co-founded Harborside Health Center in Oakland in 2006 and built it up over the years to a patient list of more than 300,000. He brought in his brother Andrew, also in 2006, to help run the operations, and together they have transformed Harborside into one of the most well-known medical cannabis dispensaries in the nation.The brothers have since launched a new greenhouse cultivation business, FLRish. WHY TO WATCH: DeAngelo has been a pioneer in the legal cannabis industry for more than a decade and has won multiple landmark legal cases against law enforcement authorities that have broken new ground for marijuana entrepreneurs. But can this member of the old guard maintain Harborside’s brand presence in what will likely be a saturated and fiercely competitive market, once California’s new regulated system launches? He also hopes to win a U.S.Tax Court case to exempt state-licensed MJ businesses from Section 280E of the federal tax code. If successful, the case would represent a milestone. BIGGEST GOAL IN 2018: Expanding Harborside operations across the state and winning the 280E case – which has been argued, with DeAngelo awaiting a decision. Isaac Dietrich MassRoots, CEO Age: 2 5 BACKSTORY: Dietrich founded MassRoots in 2013.The publicly traded Denver company shot to national prominence as a cannabis-focused social media platform, raising millions from investors. It also made a bid – albeit unsuccessful – to become the first marijuana company listed on the Nasdaq. Over the past year, however, revenue plunged, losses piled up and the company’s shares tanked. In Octo- ber, the board ousted Dietrich as CEO and sued him for alleged theft and illegal drug use. In December, however, Dietrich orchestrated a return to his old position as CEO, thanks to a deal brokered with the three MassRoots board members who fired him. Those board members resigned, as did the CEO who had replaced Dietrich. WHY TO WATCH: MassRoots had been a media darling. But the upheaval of 2017 and years of red ink have fanned speculation about whether the com- pany can be salvaged. Dietrich is now in the hot seat. Can he raise needed capital and make MassRoots a viable business? BIGGEST GOAL IN 2018: “Delivering returns for MassRoots shareholders by being at the forefront of California recreational cannabis implementation, acquiring synergistic technology companies, and developing a cannabis industry-centric cryptocur- rency,” Dietrich wrote in an email. January 2018 • Marijuana Business Magazine • 57