Scot Chisholm & Co. 

Every week I tackle management, operations & startup topics that are helping 100,000+ people become better leaders.

Scot’s Newsletter

Highland

Highland is a “school” & community for founders. If you're a founder/CEO, we should talk!

Founder & Chief Professor

Tall Timbers Holding Co.

A family office and holding company with wholly owned businesses, private investments, and property holdings.

Managing Director & Founder

GoFundMe

After the merger of Classy and GoFundMe, I’ve taken on a strategic advisory role to the CEO & executive team, mainly focused on longer-range product strategy and M&A

Strategic Advisor, GoFundMe & Classy

Classy

Founder & Strategic Advisor (Acq. by GoFundMe, 2022)

Founder & Chairman

Classy is a SaaS giving platform that powers the fundraising of over 10,000 nonprofit organizations. Classy is a certified B-Corp, has a team of 300+ people and has raised over $5 billion for social good since 2011.

CEO & Founder

In Classy’s earliest days, we hosted large scale fundraising events with the goal of connecting millennials with local nonprofits in the San Diego area.

CEO & Founder (pre tech company)

Haskill Creek

Haskill Creek is a new type of self-care store. Imagine a healthier & more holistic version of a Walgreens or CVS. Family owned business.

Co-Founder

ALBION SC

Albion Soccer Club is one of the top youth soccer franchises in the United States with over 10,000 players and hundreds of teams across the country.

Co-Owner

Save Farmland

Save Farmland is a nonprofit organization with a mission to protect and promote small farms in Flathead Valley, Montana, and beyond.

Abundant Montana

Board Member

AERO Montana

Abundant Montana (a program of Aero), makes it easy for anyone to find and choose local food in Montana.

Advisory Board

CEO, Highland & Haskill Creek • Founder of Classy (acq. by GoFundMe) • Founder of nonprofit, Save Farmland

Multi-time founder but operator at heart. 

Industrial engineer and lean six sigma nerd by training. 

Now I write about management, operations & startup topics that are helping 200,000+ people become better leaders.

scotchisholm.com/newsletter


MY BACKGROUND ————— 

🚀 Founder of Classy, a SaaS platform for 10k+ nonprofits raising billions per year. 

🎗️Acquired by GoFundMe in ‘22 to create the largest giving platform in the world. Together we’ve raised over $30 billion for individual & nonprofit causes. 

🏔️ Founder of Highland, a private community & leadership “school” for high-potential founders. 

🏡 Co-founder of Haskill Creek, a much healthier version of a Walgreens or CVS. 

🧑🏼‍🌾 Founder of Save Farmland, a nonprofit protecting local farmland. 

⚽️ Co-owner of Albion Soccer Club, top youth soccer club in country

❤️ Board experience: Nature Conservancy, Abundant Montana, Team Rubicon, Street Soccer USA, Montana Pediatric Cancer Foundation 


👇 WAYS TO CONNECT —————

→ Podcast / speaking oppty? email: partner@scotchisholm.com

→ Join my free newsletter: https://scotchisholm.com/newsletter-linkedin-profile

→ Check out my private community for founders: www.joinhighland.com

Scot Chisholm

Sh*tty managers ruin lives. 
Great managers change them. 

I’ve managed hundreds of people over the last 20 years. 

One of my biggest takeaways is the massive difference between an average manager and a truly great one. 

But, here’s the truth:

No one starts out as a great manager (literally no one). 

And, becoming a great manager can be learned by anyone. 

Just focus on these 12 habits:

1/ Provide business context
2/ Set high standards
3/ Take full ownership
4/ Focus (then focus again)
5/ Create operating cohesion 
6/ Lead with data
7/ But be decisive 
8/ Let your team make decisions
9/ Don’t give sh*tty feedback
10/ Take feedback like an adult
11/ Listen more than you talk
12/ Always be learning

The gap in quality managers is large, but the right behaviors are simple. 

Focus on these 12 habits daily and you’ll be ahead of 99%. 

What habits resonated most?
Let me know in the comments 👇

⁂

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Operator & Investor • Founder of Classy (acq. by GoFundMe) • Building Highland, Just, Haskill Creek

12 insanely simple habits to become a high performing mana

Leadership is misunderstood.

Building Classy taught me that the best leaders aren't necessarily the ones with the biggest titles, or the ones who can charm a room.

Some of the best leaders in our 300+ person company were individual contributors at the very bottom of the org chart. Young managers. First-time team leads.

Over the years I started noticing what made these unlikely leaders so effective. They had traits that, quite honestly, my executives lacked at times. Including me.

Over time I boiled them down to 10 core traits that our best leaders always exhibited. It’s no surprise they rose fast within the company. Many are still there today, 15 years later.  

The very best leaders: 

• Clarify - Never assume everyone understands
• Believe - Push forward when everyone doubts
• Adapt - Evolve rapidly without ego
• Anticipate - Solve problems before they explode
• Persist - Get kicked in the teeth, get up anyway
• Empower - Create leaders, not followers
• Own - Own failures without excuses
• Hold the line - When quality dips and others compromise
• Always Learn - Learn and grow faster than the company
• Lead by Example - Live values when no one's watching

Most leaders start off strong in a few, but not all of these traits. You must intentionally develop them over time. It's a lifelong thing. 

But many executives forget this. Maybe they were great once. But they start slipping. They stop learning. They get cocky. I've seen this too many times. 

I don't care where you’re at in your career. Keep these traits in mind. And never stop developing them. 

⁂

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Top 10 traits of the very best leaders:

Every high performance culture starts with this… 

I recently asked a founder about his culture. And he started talking about free lunches and other perks. 

This is not culture. 

He was a coaching client of mine, so I nicely explained… 

Here's what real culture looks like: 
→ A shared purpose. Everyone understands and resonates with the 'Why'.

→ Excitement about the future. The vision is clear to all and it creates an almost kid-like excitement about the future.

→ Strong empathy and trust. Great orgs know if you neglect empathy, trust evaporates.

→ The correct level of accountability. People know you're building a championship team.

→ Mutual respect and encouragement. High performers have admiration for each other.

→ Hunger to learn and improve. Without being asked. That's the diet of champions.

→ Aligned financial incentives. Compensation that's aligned to the organization's top goals.

→ Career mobility. Lots of opportunity, with clear expectations around advancement.

→ Work-life balance. Clear boundaries that are enforced across the org.

→ Pride in the work. Numbers one through nine create an amazing sense of pride. You'll find yourself bragging about work to complete strangers.


When you get the culture right, people are excited to show up, employees self-manage, and retention is extremely high. 

And great business results naturally follow.

 ⁂

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10 signs of great culture.

Most people waste their leadership meetings. 

Do this instead: 

When I was building Classy I got this meeting wrong for years. We’d talk about everything BUT the important stuff. Too much time wasted on low-level “issues”. Too many tangents and distractions. Everyone left feeling:

• Confused
• Misaligned 
• Unaccountable

I talked to advisors and scoured the internet for help. But it took loads of trial and error to land on a meeting structure that actually worked. We stuck with it for nearly ten years. 

One of the major improvements was focus. Teams spend months setting goals only to let them collect dust. Your leadership meeting should be your #1 checkpoint for progress. 

Once we got “tight at the top” as a leadership team, everything started to change. More results, less talk. It became the tip of the spear of our entire operating rhythm.

To this day, I call it your most important meeting. If I only had one, it’d be the leadership meeting. 

The entire leadership team meeting structure is in the carousel. Copy it for your own company and let me know what you think. 

⁂

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How to nail your  leadership meeting every time:

Most people think goals fail because the team screwed up. 

They’re wrong. 

99% of goals fail because of poor leadership.

It doesn’t matter what framework you use…

→ OKRs
→ Rocks
→ SMART

If you’re sloppy with your approach, the company won’t hit its goals. 

That’s on you. 

I learned this the hard way, running a company with hundreds of people. 

Now I see it working with nearly 100 CEOs across all industries. 

Here are 7 non-negotiable rules that will make your goal-setting 10x better…

(regardless of your framework) 

⁂

Rule 1 –  
Focus (then focus again):

• Maximum three goals, period
• Goals aren't task lists
• Everything priority = nothing priority

Rule 2 – 
Always be measurable: 

• Three metrics maximum per goal
• Measure outcomes, not tasks
• "$1M ARR" beats "update deck"

Rule 3 – 
Challenging but realistic: 

• Impossible goals kill momentum
• Stretch without delusion
• No sandbagging, mutual accountability

Rule 4 – 
Never forget the ‘why’: 

• No context leaves team guessing
• Each goal deserves a 'why'
• 1-3 sentence rationale

Rule 5 – 
Track consistently:

• Break annual into monthly
• Weekly red/yellow/green updates
• Never leave dashboards stale

Rule 6 – 
Create accountability:

• Use leadership meeting
• Address every yellow or red
• 20% status, 80% solving

Rule 7 – 
Align incentives:

• Pay goals to comp
• Ignore the OKR purists
• Bonus plan is perfect for this

Does this resonate? 
What rules would you add?
Let me know in the comments 👇

 ⁂

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How to actually achieve your company goals in 2026

If there's one thing you do on Linkedin today... 

I'd be forever grateful if you'd consider applying, or sharing this role with someone you really respect. 

Christopher Himes & I started dreaming up this company about a year ago.  Now the dream has turned to reality. 

With a fresh round, a tiny team of insane talent, and a massive opportunity in front of us... 

We. are. ready. to. go!

Who wants to join us? 

p.s. We're not listing this company as "stealth" because that's dumb. But you'll learn way more about the market, opportunity and product when you apply. Trust me its badass. 

🔥

Seth Yakatan

Raising & Selling 📈 $1B+ Raised 💰 22 Companies Sold 🤝

Are you struggling to communicate your vision to the capital gatekeepers?

Are you exploring selling your business but don’t know anything about:
✘ Due diligence
✘ Term sheets
✘ Earnouts

Friend, you're lucky you found me...

I'm Seth Yakatan.

I have 30-odd years experience as a corporate finance professional.

My specialties are:
💰 Raising money
🤝 Selling companies

And I’m f**king good at it.

I’ve raised over $1B and sold 22 businesses.

My career has mostly been supporting small-cap and major corporations seeking capital to grow, or
to find strategic acquirers.

Most of these companies are in: 
— biotech
— cannabis
— pharmaceuticals
— DTC consumer goods

I’ve been on boards, taken companies public, gone up against multinational corporations, raised from VC and PE funds.

All of it. 
Many times over.
Whatever your problem is, I’ve seen it before.

But let me level with you:

What I REALLY love is helping people to get to the finish line.

Talking to entrepreneurs excites me.

But in my experience, entrepreneurs are mostly s**t at raising capital and selling companies.

** They just don’t understand investors **

And that’s where I come in.

Together, we workshop: 
✔ Your pitch
✔ Your deck
✔ Your strategy 

And help you raise the capital to GROW and SELL your business.

If you need this help—and almost every business does—send me a DM.

Like, now.

Don't lose another potential investor or acquirer with the wrong pitch.

Seth ✌️

Merchant Bank / Advisory / Family Office

While politicians are arguing about hemp, Kratom is being sold as a “natural wellness supplement.”

But let’s STOP pretending.

This is NOT chamomile tea.

This is NOT “plant-based stress relief.”

This is an unregulated opioid analogue with street-corner quality control.

And it’s ending up in gas stations, smoke shops, and TikTok “self-care” feeds.


>> Whats Happening?

Kratom is being sold everywhere with little to no restrictions.

And, IMO, it is DANGEROUS.

It contains mitragynine and 7-hydroxymitragynine, compounds that we know:

→ Bind to mu-opioid receptors
→ Produce opioid-like euphoria and sedation

And it creates tolerance and withdrawal patterns basically indistinguishable from low-grade opioid dependence.

California’s Department of Public Health just issued a formal advisory (NR25-016) warning that:

Kratom products are ILLEGAL to manufacture and sell in the state.

Claims about pain, anxiety, or withdrawal treatment are unproven.

And that multiple fatal overdoses have already been linked to kratom in Los Angeles County

This is not “maybe dangerous.”…this is DOCUMENTED harm.


>> Why This Matters?

OxyContin addiction didn’t start because people wanted to get high.

It started because people were in pain, desperate & were told something was safe and “less addictive.”

We have seen this movie before and I know exactly how it plays out.

Kratom is unregulated, inconsistently dosed and frequently adulterated.

And marketed using the same language pattern that launched the opioid epidemic:

“Natural”, “Safer than pharmaceuticals”, “Helps with withdrawal”

The result is people self-dosing their way straight into dependency.

Not because they’re reckless.

But because the product is designed to look harmless.

And the supply chain knows exactly what it’s doing....


>> What Am I Watching?

The pattern is repeating: 

Normalization via wellness marketing (“It’s just a plant.”)

Distribution concentrated in deregulated retail (Vape shops, convenience stores, social media DMs.)

Dependence masked as “daily routine" (Users don’t realize they’re sick until they stop.)

Regulators reacting only after deaths accumulate.

If we wait for “more data,” we are doing nothing more than running the Purdue Pharma playbook in slow motion.

This is not a supplement it’s an unregulated opioid with branding.

Kratom should not be sold.
Kratom should not be normalized.
Kratom should not be framed as “self-care.”
Kratom should be STOPPED.

When you want to push the boundary, what do you do?

TRY HARDER.
 
So I am honored to announce my latest collaboration with Fat Nugs Magazine x Seth Yakatan: A New Live Industry Series

>>> WHAT ?
I'm teaming up with Fat Nugs Magazine to launch a brand-new live discussion series spotlighting cannabis products and brands. 
 
And to start we're tackling pre-rolls - a category whose growth cannot be denied.

>>> WHO ?
Andrew Wells
Cesar Angobaldo
Courtney Zalewski
Fernando Bent-Mullings
Mei-Ling Campbell
Timeka Drew
Catherine Sidman
Luna Stower, MAT, CG ✨

>>> WHEN ? 

The series kicks off with its first episode Thursday, November 20th at 11AM EST/ 8AM PST.

FNM Presents: Voices of the Plant w/ Seth Yakatan
Preroll Edition 
Business. Culture. Community.

 
Sign up here: https://lnkd.in/geV4jVmy 

& MARK YOU CALENDARS for Thursday, November 20th at 11AM EST/ 8AM PST.

You want your 15 minutes of fame?

Then find me and my man Lance C. Lambert ✓ in VEGAS....

My friends at Fat Nugs Magazine have made the questionable decision of giving me a camera and a microphone (LOOK OUT!!!)

Fat Nugs Magazine  x PufCreativ event, Light Up Las Vegas, is going to be 🔥 

Me + Lance, badass activations, the food, infused beverages, live art, live music from John Shute's band, Bubala, the Faces of Cannabis, and I GOT A MIC!!!

Fat Nugs Magazine
John Shute, MBA
PufCreativ

Well folks, I have to admit that I was WRONG… I know, SHOCKER 😱

About 3 months ago I put up a post on AYR Wellness.

I said RIP…

But suddenly, AYR has come back from the dead…

Last week AYR Wellness Inc. announced that it was going to initiate CCAA proceedings. 


>> What's Happening?

On November 17, core assets of AYR’s subsidiaries will be transitioned to a newly formed acquisition vehicle (NewCo) owned by certain AYR senior note holders.

Basically this means that the lenders are going to run the company to try to get a recovery.

This is the same thing we’ve seen with several other companies…


>> Why is it Relevant?

1. Note trend
2. See #1

Just another case of investors taking the keys and trying to operate…


>> What Am I Watching?

This is about the fourth version of this flavor, will see if it tastes any different.

This industry has now become an SOP for the ‘equitization of debt and operate’ strategy…

Grabbing popcorn….

Hit the Debt Wall Jokes in the comments please.

Getting pumped for earnings season ???

WELL I AM...

Talking about Q2 a while back with the squad from 

The Dales Report

How do you think that that Q3 is going to look ???

Hit me in the Comments....

and thank you Shadd Dales + Anthony Varrell

BIG SCANDAL in NY this past month…

Omnium Health just found out the hard way that renting your license isn’t the same as running a business.


>> What’s Happening?

NY state says Omnium was renting out warehouse space to unlicensed operators and then moving products through its own distribution channels.

The regulators are moving to yank Omnium Health’s permits and hit them with 7-figure fines, and recall $10M worth of product.


>> Why is This Important?

This is the first major enforcement under the state’s new crackdown.

It signals a shift from “we’re building the market” to “we’re cleaning it up.”

And now the fallout is real:

Multi-million dollar recall.
Permanent ban on participation.
Dozens of brands hurt.


>> What Am I Watching?

I have called out that New York’s cannabis roll out experiment has been chaos from DAY ONE.

Slow licensing, illegal stores on every block, and bureaucrats chasing their tails.

But this move finally shows they’re willing to go after the suits, not just the bodegas.

It’s a warning shot.

Maybe, just maybe New York will clean up its act?

You enjoy your freedom ?

Then thank a VETERAN...

I am honored that members of my family have proudly served to ensure that my butt can. go get a burger fries and a coke...

Lets give it up for a REAL AMERICAN HERO...

Evan Hunt

Evan is a:

— Decorated 20-year veteran and combat aviator
— Community and business leader
— Texas family man
and has NO AGENDA other than his SERVICE !

He's running for U.S. Congress in Texas as a Democrat. 

He's taking on MAGA extremism and wants to recapture the House in 2026.

You can donate to help his cause here: https://lnkd.in/gQana6Wu

Who keeps me bullish?

Wyld & Aaron Morris

In ANY other industry, THAT'S A ROLL-UP PLATFORM.

General Catalyst (CALL ME)

Thanks to the gents From the Weeds to the Clouds - Michael Krefman + Michael Peterson

Do you have a functioning company?

i.e. Are you generating CASH FLOW??

Then consider yourself SUCCESSFUL, because you are in the MINORITY
in c@nnabis.

So what advice do I give you....???

Well with 5 companies over $150M in revenue in receivership...

1. STAY IN IT
2. STAY IN IT
3. STAY IN IT!!!

And thanks to my friend Scott Greiper for moderating a great panel....

The 5 Stages of Grief: Cannabis Edition


Stage 1: Denial

For everyone: The initial shock and disbelief that loss has occurred, acting as a buffer against overwhelming emotions.

For us: The initial shock that prices are NOT going to stay high forever and act as a buffer against the mountain of debt raised.


Stage 2: Anger

For everyone: A natural reaction to loss, where one may feel frustration, resentment, or rage at the situation.

For us: Manifests in yelling at A/R collections, city counsel meetings, boardrooms, or in the comments on LinkedIn.


Stage 3: Bargaining

For everyone: Negotiate with fate or a higher power to undo the loss, often involving phrases like "If only..." or "What if...".

For us: “Well I can just SELL the license, not pay taxes, not pay suppliers, vendors, employees or investors and get my creditors to amend and extend, plus FEDERAL HAS TO come soon, right??”


Stage 4: Depression

For everyone: Feelings of sadness, despair, and hopelessness set in as the reality of the loss becomes clearer.

For us: This market SUCKS, this industry SUCKS, these people SUCK, this government SUCKS. 


Stage 5: Acceptance

For everyone: Reach a point where the loss is acknowledged and understood, and one begins to adapt to the new reality.

For us: Lower prices, market volatility, hope for “catalysts” and a maybe we never get a Federal “save”.

Plus, all this s**t I’m eating is making my stomach stronger!

Did this resonate with anyone??

Hit those comments.

Alcohol has a BIG problem brewing…

People ain’t pounding brews like they used to.

Now, some Bev/Alc folks on this platform seem to want to downplay this.

Maybe they’re too invested in the space?
Maybe they’re pushing a narrative?
Maybe they’re afraid?

Which is understandable when you see the numbers…

Because the data don’t lie.

From a recent research report from Jefferies:

“Alcohol consumption has dropped from a peak of 9.5L in 2021 to 8.3L by end of 2025. In the absence of a major intervention, e.g. a severe tax increase / regulatory headwind, the industry could be close to trough. However, we now build in a further step down to 7L, which would take alcohol consumption to lower than 1960s levels (7.8 litres).”

But don’t worry. It’s ALL GOOD.


>> What's Happening?

Common logic dictates that alcohol is the next tobacco.

Beer sits at a -27% discount relative to staples, compared to its 20Y average discount of 7%.

Harm reduction has driven lower consumption overall.

And the COVID bump is over.


>> Why It Is Important?

The sector NEEDS a catalyst

Wellness is NOT going away and consumers continue to choose health…

And as everyone who follows me knows, THC beverages are eating everyones lunch.


>> What Am I Watching?

I’m paying attention to what the young people are doing, and you might have noticed that they ain’t drinkin’!

Most Analysts now think alcohol consumption is set to FALL by 2% per year over the next decade.

What area is growing?

(Hint: HEMP/THC Beverages)

We’re standing at the dawn of a new era in social consumption folks.

Want to see me in a SUIT???

Well if you are Inside the Beltway today there is a CHANCE...

You'll find me in my clown suit, all dressed up for my crew at IgniteIt Cannabis.

See you today in the District for my photo opp.

Use my link and get in at a discount: https://lnkd.in/e45zHKrW

I Failed As An Odds Maker
And almost got run out of Vegas as a result !!!

What I Thought ??? 
I used to believe I could predict things. 
I thought outcomes were logical: 
Markets mature THEN prices stabilize 
Regulators see tax revenue AND regulation eases 
Consumers migrate to legal markets WHILE illicit fades 
Capital flows to efficiency LETTING good operators win 
None of that happened.

What I Learned ??? 
Regulation became politics: NOT economics 
Taxation became punishment: NOT policy 
Consumers followed availability: NOT governance 
And capital flowed to the loudest or biggest: NOT the best
So, I tried to be an odds maker and failed..

What Did I Learn ??? 
The cannabis and hemp space is not a market it's a game of unlocks: 
Access unlocks: Who can sell where 
Distribution unlocks: Who gets shelf space 
On-Premise unlocks: Who gets to shape consumer behavior 
Regulatory unlocks: Which side of the line you operate on

The people who win are not the ones with the best products
They're the ones with the best positioning when the unlock happens
I wasn’t wrong about the demand…I was wrong about the sequencing

So I failed as an odds maker, and changed my lens 

I stopped predicting when something will change 
I started positioning for what happens when it does 

I don’t need to guess the date Congress wakes up 
I just need to be on the board when they do
You don’t have to be an oddsmaker… 
You just have to be aligned when the unlock hits. 
And that’s a game I like my odds in.

Today I give THANKS...

That I am not a Turkey...although some of you might beg to differ....

Thats it...

Happy Holidays !!!

And make sure you tell someone you love them today....

When something that NEEDS to exist but doesn't, what do you do?

YOU CREATE IT.
 
So I am honored to announce my latest collaboration with Fat Nugs Magazine

A new series of LinkedIn Live sessions to educate, spotlight and discuss critical issues around PRODUCTS.

Why? 

Because Instagram is NOT a safe space and LinkedIn seems to have critical mass for OUR INDUSTY.
 
I'm teaming up with Fat Nugs Magazine to launch a brand-new live discussion series spotlighting cannabis products and brands. 

Expect we will amplify voices from every corner, deeply knowledgeable professionals to everyday consumers.

Episodes will stream across multiple platforms, giving an unfiltered look at the products, stories, and people behind them.
 
And to start we're tackling pre-rolls - a category whose growth cannot be denied.

Expect 8 panelists to break down the good, the bad, and the ugly of pre-rolls,

Panelists will also get the chance to sample prerolls LIVE, bringing real-time reactions and insights to the conversation.

This isn’t just another panel, it’s the start of an honest, wide-open dialogue about the products that define our industry.

The series kicks off with its first episode Thursday, November 20th at 11AM EST/ 8AM PST.

FNM Presents: Voices of the Plant w/ Seth Yakatan
Preroll Edition 

Business. Culture. Community.
Welcome to Voices of the Plant - the new Fat Nugs Magazine LinkedIn Live series that brings real conversations from the heart of cannabis.
 
Sign up here: https://bit.ly/3LpTDXd

& MARK YOU CALENDARS for Thursday, November 20th at 11AM EST/ 8AM PST.

You doing anything today??
 
Fat Nugs Magazine x Seth Yakatan present: The Plant Panel

We're hosting a new LinkedIn live with some of the sharpest minds working in cannabis.

Andrew Wells
Cesar Angobaldo
Courtney Zalewski
Fernando Bent-Mullings
Mei-Ling Campbell
Timeka Drew
Catherine Sidman
Luna Stower, MAT, CG ✨

TODAY: November 20th at 11AM EST/ 8AM PST.

FNM Presents: The Plant Panel w/ Seth Yakatan

Episode one is the Preroll Edition 

Business. Culture. Community.

Sign up here: https://lnkd.in/geV4jVmy

Believe it or not, I continue to hear from people that c@nnabis is NOT efficacious.

“Cannabis doesn’t really work for pain, sleep, or anxiety.”

I hear this from people who have:
— Never read a single clinical data table
— Never treated a patient
— Still think weed = teenagers + Bob Marley poster

Meanwhile, the SCIENCE is right there.


>> What’s Happening?

Recent clinical evaluations show consistent, measurable benefits:

Pain: 
→ Patients report statistically significant reductions about 0.5cm on a 10cm scale across populations. 
→ No placebo, that’s real analgesic effect at scale.

Sleep: 
→ Cannabis improves subjective sleep quality. 
→ If you’ve ever actually not slept, you know that you feel in the morning matters more than what your polysomnography printout says.

Anxiety: 
→ At appropriate dose and context, cannabinoids produce reliable anxiolytic effects, especially CBD.
→ THC requires respect and calibration yes. But to pretend it “doesn’t work” is just LAZY.

These effects are real, repeatable, clinically observed, and patient-reported across thousands of data points.

This is evidence!!!


>> Why Does This Matter?

There is a massive cultural blind spot around what counts as “meaningful efficacy.”

We are conditioned to think only in miracle outcomes:

— Erase all pain
— Cure insomnia
— Eliminate all anxiety

That’s not how real medicine works.

Real medicine is incremental improvement that accumulates into quality of life.

And cannabis delivers exactly that.


>> What Am I Watching?

The brands, operators, clinicians, and researchers who will win the next decade are the ones who:

1. Respect the evidence
2. Respect individual response and dosing
3. Position cannabis as a meaningful tool in the therapeutic toolkit
4. Communicate in clinical, human terms

Because here’s the TRUTH:

Cannabis works. It’s medicine. PERIOD.

So when someone dismisses cannabis because it’s not a miracle cure…

They’re telling you they don’t understand patients, medicine, or reality.

(and if you don’t know who is with me in the picture DO YOUR HOMEWORK)

So Ohio just issued a BAN on THC drinks, gummies, other hemp products…

Is this just another domino to fall in the ever changing Hemp landscape?

I’ve seen this movie before, pretty sure I now how it is going to end…

Alcohol lobby keeps making it RAIN!!


>> What’s Happening?

Ohio Gov. DeWine just dropped a 90-day ban on intoxicating hemp products — drinks, gummies, the whole lot.

The justification? Predictably it was to “protect the children…”

The reality is this is just another political move after months of legislative inaction.


>> Why It Matters?

Let’s be clear: This isn’t about safety. It’s about control.

Hemp beverages have been sitting on shelves for years — in gas stations, grocery stores, and yes, maybe even in a few PTA moms’ purses. 

But now they’re suddenly dangerous candy? Please.

What’s really happening is that regulators are scrambling because hemp is moving faster than their tax codes and licensing frameworks.

Meanwhile, the consumer is left wondering why they can buy 1.5L of vodka at Target but not a 5mg seltzer.


>> What Am I Watching?

I’m watching who profits from the pause. Follow the money and, more importantly, the LOBBYING.

Does this becomes a blueprint: ban first, regulate later? (n=2 Ohio and California?)

How do brands now pivot? On-premise and licensed retail just became the only legal outlets for 90 days.

I hate watching growth and innovation get punished for outpacing bureaucracy.

And Ohio just told every hemp company: “Thanks for the R&D, we’ll take it from here.”

So your cannabis company “got international distribution?”

Well….let’s look a little more closely here shall we:


THE REASON PEOPLE ARE RUNNING OVERSEAS

Domestic cannabis margins are garbage right now.

Wholesale prices down 40–70% in key markets in 24 months.

Effective tax rates north of 60% because 280E is the IRS’s medieval torture device.

45%+ of “multi-state operators” are over-levered and drowning in debt like college kids with their student loans.

So everyone says the same thing:

“We’ll just go international. Less competition. More upside. Cleaner markets.”

Yes. But also NO.

International IS an opportunity… it’s just not the one you think it is.


THE ACTUAL RISKS (THESE ARE NOT THEORIES)

Currency risk
— Mexico, Colombia, Israel, Thailand have all experienced 5–35% currency swings in the last 18 months. Your “15% margin” becomes a rounding error.

Political volatility
— Governments change & cannabis policy gets rewritten in the hallway on the way to the vote.

No brand memory
— Your U.S. brand means nothing to a consumer who has never seen THC sold legally… ever.

Supply Chain Reality
— “We have a distributor” ≠ you have distribution. You have a person with a PDF and enthusiasm. Ask anyone who has done cross-border THC/GMP transport.
The paperwork alone can send a grown adult into silent prayer.


SO WHEN DOES INTERNATIONAL WORK?

When you stop trying to export identity and start importing infrastructure.

The winners will be the ones who:

1. Partner with local operators who already own distribution
2. Don’t show up loud but show up boring
3. Aren’t dependent on the U.S. capital mood swings
4. Understand on-premise unlocks will take years, not quarters
5. Oh and you know…have a grown-up strategy!


WHEN DOES IT FAIL?

When you think: “We found a supplier and a buyer… we’re global now.”

No, you’re not.

You just created a customs liability and a future LinkedIn apology tour.

I am bullish on international markets. 

There is real opportunity.

But don’t confuse “different” risk with “less” risk.

International is not your lifeboat.

It’s a rope bridge in a windstorm.

Still walkable.

Just don’t do cartwheels on it….

Big revealing news NO ONE was talking about:

This entrenched strategic jumped form factor and doubled down on the industry.


>> What Happened? 

The Boston Beer Company is expanding its “beyond beer” play.

Its brand Emerald Hour is launching THC gummies in Canada. 

These vegan gummies contain 5 mg THC, and the product is hitting dispensaries in Ontario and Alberta.


>> Why Does This Matter?

This is major because Boston Beer is signaling serious commitment to cannabis AND NOT just beverages (well, after the Hemp ban…pffft).

They are leveraging Bev/Alc cred into a new category, attempting to transfer brand equity from “beer & seltzer” into THC edibles.

The REAL question: Are they poised to win, or is this just a land grab without the operational muscle of a cannabis native?


>> What Am I Watching?

Will Boston Beer ramp distribution quickly (600+ dispensaries for the beverages already) and build meaningful shelf-presence?

How will Boston Beer execute operationally: supply chain, compliance, packaging, vegan/clean-label positioning?

Will this move prompt other major beverage players to accelerate into cannabis edibles, or has Farm Bill repeal made everyone gun-shy??

Success will be visible when margin expands, repeat consumer behavior is high, and the brand becomes credible not just in beer.

If you’re playing the game, EYES WIDE OPEN…this is a flanking move worth tracking. 

If you’re counting on it to drive immediate growth or dominance, chill.

Either way we just moved to DEFCON 2… 

And if you needed any further examples that alcohol was Donald Ducked then here you go.

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Seth Yakatan

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The Battle

Scot Chisholm

Seth Yakatan

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