Marijuana Business Magazine April 2020

Marijuana Business Magazine | April 2020 6 FromtheEditor | Kate Lavin A lot has transpired in the year since Marijuana Business Magazine came out with its first salary and hiring issue. The value of cannabis stocks has tumbled, the industrial hemp market has taken off—only to be brought back to earth by falling CBD prices—and the poaching of executives from consumer packaged goods companies has transitioned from noteworthy to commonplace. All this was remarkable on its own. But shortly before I sat down to write this letter, cannabis retailers in San Francisco were ordered to close their doors due to coro- navirus. (Mayor London Breed later decided the shops could stay open, citing marijuana’s medical value.) It could be months or years before we see the full effect of coronavirus on the global economy in general and the North American cannabis industry in particular. But in put- ting together this issue, we’ve collected business advice to help marijuana and hemp companies make educated decisions in times of growth as well as times of crisis. Recruiting in 2020 Despite a rash of industry layoffs that began in fall 2019 and continued into the spring, the continuing legalization of markets for cannabis sales all but ensures that the number of jobs in this sector will continue to increase for years to come. When developing the cover package, we decided to evaluate: • How hiring and salaries have changed in the past year. • Whether stock options remain a compelling incentive when recruiting talent. • How the legalization of hemp changed hiring and salaries in that sector. • The state of recruiting in Canada. • Whether executives from the consumer packaged goods sector are the best fit for the burgeoning can- nabis industry right now. • Specific jobs and cannabis industry sectors that are hot—plus those that are not. For a complete overview on the state of hiring and compensation in the United States and Canada, turn to page 38. In These Pages Elsewhere in this issue, staff writer Omar Sacirbey spoke with two companies that secured approval from the U.S. Food and Drug Administration to study the effects of cannabis on humans, and his sources spoke candidly about what is required to get the blessing of this federal agency. Hint: It’s beneficial to partner with faculty from a well-respected university and offer full transparency into the process. Learn more on page 76. You’ll also find information about how to evaluate whether cannabis trade organizations are worthy of your time, dues and—in some cases—reputation. (See page 64.) Intrigued by the success of the plant-based Beyond Burger, veteran reporter Anna Robaton-Winthrop sought out producers of hemp-based foods to learn what road- blocks they encountered in bringing products to market. (See page 86.) She learned that emphasizing the local nature of hemp-based foods can help manufacturers avoid slotting fees grocers often require in exchange for taking a chance on shelving new products. Looking Ahead This issue also contains analysis of how the launch of smokable marijuana upset the top players in Florida’s bustling medical marijuana market, plus interviews with a retail executive and an ETFmanager about how in-person sales and investing are likely to unfold in the years to come. From the entire staff at Marijuana Business Magazine, we wish you the best of luck remaining healthy, safe and well-staffed in the coming months. The Only Constant Is Change Kate Lavin Marijuana Business Magazine Editor