Sean Kelly

Founder & Investor. Building companies at the intersection of health, media & founder performance.

Hey there, I’m Sean. I play at the intersection of investing, media and human performance.

I’m a three-time INC 500 founder & entrepreneur with businesses in eCommerce, SaaS, media and B2B services that have collectively generated hundreds of millions of dollars in revenue.

Right now, I serve as a General Partner at The Family Fund and am the CEO of Significant Publications, a B2B digital media holding company.

I'm particularly passionate about our brand FounderIV in support of today's founder-athletes. We help today's top entrepreneurs achieve breakout performance in their personal and professional lives.

I co-founded and led multiple other companies, including SnackNation, a health-centric foodservice and brand discovery platform that served 20,000 businesses across the US. 

Under my leadership, SnackNation was honored as one of the country’s Best Workplaces by Inc. Magazine, recognized for Top Company Culture by Entrepreneur Magazine, and certified as a Great Workplace by Great Place to Work®.

Forbes listed me as one of the top 30 leaders under 30 and one of America’s most promising CEOs under 35. Comparably also ranked me among the country’s top 50 small-to-medium sized business CEOs multiple years in a row. 

Outside of the business world, I’m a two-time national medalist in freestyle snowboarding, hold an advisory role at the growth capital firm, Meaningful Partners, have a degree in Biomedical Engineering from Columbia University and am an avid sports fan of all Michigan sports teams (especially the Wolverines).

I currently live in Venice, CA with my wife and college sweetheart, Shannon, and our goldendoodle, Jameson.

Chairman

We built the first Founderland in 10 weeks.

And almost died.

This past year we gave ourselves 6 months and built an external team to do it and it still wasn’t enough time.

So for next year’s event we decided to make the build a year-round affair…

And are focused on making Founderland a brand that lives throughout the year, not just as once-every-October event.

It’s funny to see how random ideas become full-time jobs lol

Took a quick trip to NYC this week to discuss Founderland ‘26 with one of our top partners J.P. Morgan  

The verdict?

It’s going to be big. 

Perhaps not as big as JPM’s new $3B global HQ at 270 Park Ave (most spectacular office I’ve been in w/ a Warhol or Jasper Johns around every corner)…

But still pretty big and lots of fun with a yuge amount of deals commenced (misspelling intentional)

Thanks for the tour Michael Conte you’re a legend and friend.

And glad to see you’re carrying Ancient Crunch Inc. MASA chips in all of your shops!

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Current health travel stack:

Zoomed off to NYC, Philly and Austin this week.

Back to back meetings all day, late dinners and sports games at night, and planes trains and automobiles like we all know.

Seems like 1/2 of the people I’ve met have a cold.

Here’s what I take on the road to feel good while away…

and do my best to arrive home feeling not-dead to the fam. Works most of the time ;)

 - Sinus rinse bottle filled with filtered water, betadine and salt/baking soda (use after every flight, likely illness prevention tactic #1)

- Zinc acetate lozenges if I’m feeling worn down or fatigued

- KetoneIQ every morning when I wake up to get that cognitive boost

- Momentous whey protein, plant protein, and creatine (10g) + Supergut fiber blended 1-2x per day to supplement diet

- Momentous Sleep pack + medical mouth tape + sleep mask every night

- Metal shaker bottle that doesn’t get gross

- Some type of hydration packets 2x/day minimum (right now using Dry Water)

- WIP 100mg energy pouches for a little boost early in the day usually before workout

- Another ~20 or so supplements in my vitamin case that I pre-fill for each day prior to the week

Sure, sleep/nutrition/exercise are essential and the most  important…but it’s near impossible to not sacrifice them a bit while playing the part of road warrior…so at least for me, travel supplementation is key.

Momentous Ketone-IQ DryWater Supergut

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 ✌️

Co-Founder

Merchant Bank / Advisory / Family Office

Massachusetts might become the first state in history to un-legalize cannabis!

Wait, WHAT???

>> What’s Happening?

A coalition of anti-cannabis activists in Massachusetts claims it has submitted enough valid signatures to put a FULL REPEAL of adult-use legalization on the 2026 ballot. 

And if voters say yes the entire commercial recreational market disappears. 

POOF.

This would kill the adult-use market. Permanently.

Medical stays, everything else goes.

Massachusetts would be the first state to go backwards.

And the people behind it are confident.

>> Why This Matters?

If this passes:

— Investors rethink every legalized state overnight

— Opponents in other states launch copycat repeal efforts

— Capital markets freeze

— Expansion plans collapse

— Regulators panic and overcorrect

This would take cannabis policy back to the stone age and signal to the country that legalization is not an irreversible trend — it’s a political liability.

If Massachusetts falls, no state is safe.

This is the nightmare scenario nobody in the industry thought possible.

>> What I’m Watching?

Whether national groups FINALLY wake up and mobilize.

Which operators step up and which pretend it’s “someone else’s problem”.

Whether this becomes a 2026 wedge issue that spreads beyond Massachusetts.

How fast risk-averse capital exits the sector if momentum shifts.

—

If you’re in cannabis, this is not optional:

1. Support local advocacy groups in Massachusetts
2. Pressure trade groups to launch a coordinated response
3. Educate your customers, partners, and elected officials
4. Start preparing contingency plans — yes, REALLY

We talk a lot about federal reform.

But right now, the real fight is at the state level and the first battle could be a full repeal of legalization in a major market.

Eyes open. Voices loud.

TOGETHER!!

Cannabis is heading to the US SUPREME COURT!

On December 12 the court is meeting to decide whether they want to touch the third rail of American drug policy:

Is federal marijuana prohibition unconstitutional inside states that already legalized it?


>> What’s Happening?

A coalition of cannabis businesses (plus some very loud conservatives) filed a lawsuit arguing that:

The federal government can’t criminalize something that a state has fully legalized without violating the Commerce Clause.

Translation: If a State says “legal business,” the feds shouldn’t be allowed to say “felony” for exactly the same activity.

The Court has now received briefs, felt the heat and is set to meet on December 12 to decide whether to take the case.


>> Why This Matters?

This isn’t just a legal debate...it’s the chokehold that this $30+ billion industry is stuck in.

The federal government refuses to update laws written when people still thought space travel was a fad.

If SCOTUS takes the case, we finally get clarity.

If they deny it, we stay in the same insane limbo that says:

Cannabis companies are legal AND illegal…states are allowed to license behavior the feds say is criminal.

And the IRS still steals 70–80% of operator profits through 280E

Federalism, but make it dysfunctional.


>> What I’m Watching

Whether the Court ducks this (likely).

Whether conservative justices realize they can’t scream “states’ rights” for everything except cannabis.

Whether the industry finally gets the constitutional showdown we’ve needed since 2009.

But here’s the real kicker:

The Supreme Court isn’t deciding if cannabis should be legal.

They’re deciding if reality counts.

And if that doesn’t sum up U.S. drug policy, nothing does.

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.

Is Cali Sober a trend or data set?

Every few months the alcohol lobby tries to convince congress cannabis is some dangerous, fringe, counterculture indulgence.

This typically comes right after scientists show up and drop a truth bomb:

— When people use cannabis, they drink less alcohol.

Not theoretically. Not anecdotally.

In a controlled trial…with real adults…using real THC.

You can almost hear the Bud Light boardroom panic.


>> What’s Happening?

Brown University ran a clinical trial with 157 adults (ages 21–44) who both drink heavily and regularly use cannabis (≥2x/week)

Across three sessions, each participant smoked joints with:

Placebo THC / 3.1% THC / 7.2% THC

The results:

3.1% THC → Alcohol consumption dropped ~19%
7.2% THC → Alcohol consumption dropped ~27%

Reminder: This wasn’t a SURVEY. 

This was human behavior in real time under controlled conditions.


>> Why This Matters?

Controlled clinical DATA illustrates what the market has been screaming for YEARS:

Cannabis isn’t competing with tobacco…it’s competing with ALCOHOL.

And it’s WINNING.

No hangover/less consumption = lower cost/people want to feel better, not worse

This research is the academic validation of what retailers, bartenders, C-store operators, and everyone under 40 in LA already knows:

California Sober isn’t a vibe …it’s a market shift.


>> What I’m Watching

Alcohol companies pretending this isn’t happening while banning hemp by paying off Congress.

Regulators scrambling because alcohol tax revenue is about to lose its training wheels.

THC beverages eating share in bars, clubs, stadiums, and concerts as the on-premise unlock kicks in.

Where does it say go now ?

How about give me a Miller High-Life??

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

Long term value in c@nnabis ?

I am not sure where it comes from 
I am not sure it comes from pure retail (alone)

Whats coming ?
Maybe a system where you can get hemp anywhere...
Have to go to a dispensary for things over a certain level ?

You think the Farm Bill closures was random?
Not when you are selling 1000mg edibles on Beale Street...

Think about it....

Thanks to Alex DeFazio and The High Index for the spot..

Is the Sunshine State going GREEN? Or will DeSantis come back to haunt us all in 2026?

Florida Rec is coming back again, kids…

Smart & Safe Florida says they’ve gathered over one million signatures to put adult-use legalization on the 2026 ballot.

And they needed that buffer because a Florida judge just invalidated 200,000 of them over…get this…formatting changes.


>> What’s Happening?

Florida’s adult use effort is coming back with steam.

Forget the signature drama.

If Florida goes adult-use, the industry gets a once-in-a-decade reset button.


>> Why This Matters?

Florida would likely become the biggest cannabis market on earth.
→ Population. Tourism. Purchase patterns. Retail cadence. No state touches it.

The beverage category goes STRATOSPHERIC.
→ Florida is the perfect petri dish: heat, beaches, nightlife, stadiums, hospitality. If drinks are going to dominate anywhere, it’s here.

Seniors + wellness turn into a gold rush.
→ This demographic is already using medical — adult-use removes all friction.

Tourism becomes a revenue cheat code.
→ 140M+ visitors. A tiny participation rate = millions of transactions.

This is the closest thing the cannabis industry gets to “Day 1” economics again.


>> What I’m Watching

Who’s quietly building Florida infrastructure RIGHT NOW.

Which operators are locking in distribution, co-packing, and supply before the herd wakes up. 

Who upgrades their retail experience (medical menus won’t cut it in adult-use Florida).

Which MSOs understand this is the Super Bowl, not a policy story.

Here’s the truth:
If Florida flips, the companies who prepared early become giants, and everyone else gets eaten.

Thoughts?

Hit those comments….

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

What's going to happen ???

Honestly not sure...

Felt like at times in 2025 we had momentum towards:
State-level interstate commerce compacts
Federal-leve change

In 2026?
Feels like we might be further than ever? 
What do you think ???

Thanks to Alex DeFazio and the crew from The High Index for this spot

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.

Do you have a business ???

Or do you have a collection of assets which were compiled to exit...

Well if you have #2 you have a problem (no pun intended)

A greater fool must arrive, which does not seem to be showing up...

Time to integrate and operate

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.

I’m in a New York State of Mind right now.

I’ve been spending some time in the Empire State recently.

I’ve put together a few observations and suggestions…

Take them with a grain of salt.


>> Lessons From The Future

New York is currently a $1.7B market and will certainly grow.

But price compression has not yet begun to occur…

Jarred 1/8ths are amongst the highest price per gram of any legal state.

Most pure retail operators are not businesses but borderline not-for-profits.


>> Where the Pitfalls Are

Regulators in New York have already showed their hand, so HOPEFULLY they won’t continue the clown games.

A/R issues are coming, bank on it.

More brands are coming, and so is more high quality flower.

Retailers are going to feel the pinch of high rent, overbuilt stores and lack of profitability.


>> Who Can Win?

1. Those willing to study and learn from the past to avoid the inevitable future

2. Brands and those who are both entrenched and currently profitable

3. Anyone with one of the 10 RO licenses

4. Those currently there and in the lead


>> Who Can Lose? 

1. Consumers and investors

2. Anyone who is currently unprofitable - because it AIN’T gonna get easier.

3. Anyone without one of the 10 RO licenses.

4. Those eyeing the market from other states thinking it’s a gold mine...

Agree? Disagree?

Hit those comments.

Here’s the big thing I learned from the hemp ban:

First, NO ONE has been louder than me about the coming “inflection.”

Well…maybe I’m the dumbest guy on the internet…

Let’s break down why:


>> The Good

The Farm Bill allowed for the ubiquitous distribution of these molecules.

Loophole/Grey Area/ Unintended consequence, I don’t care what you think about that.

Putting the MOLECULES on Main Street and in the mail was NOT the intent.

But guess what, the consumer chose….the MOLECULES. 


>> The Bad

Cannabis is demonized, marginalized and constrained.

Produce, manufacture and sell in limited silos in specific areas in selected states.

Want to purchase? Go to the crappiest part of town where they put airports, chop shops and strip clubs.

Banking? Forget it. Normalization? Sure as soon as there is a dispensary on Rodeo Drive.


>> The Ugly

Once the Farm Bill allowed for the democratization of cannabis to occur, the consumer made a clear choice.

THEY CHOSE THE MOLECULES.

In the mail, in grocery stores, in liquor stores, in big box retail.

When you put the MOLECULES in the normal consumer purchase cycle they CHOSE IT.

and then what happened? Retail adopted. 

And that SCARED THE SH$T OUTTA: 
— ALCOHOL
— BEVERAGE
— CPG
— TOBACCO
— PHARMA

End of the day whether its Hemp or THC we are talking about the same MOLECULES.

The public WANTS it. So let’s keep making that case and stay united.

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....

Has all the weed left us with short term memory loss???

Folks are excited that STIIIZY just bought 12 ex-Gold Flora dispensaries in California for $25M at a court-ordered auction. 

But everyone’s acting like yesterday’s retail shake-up just appeared randomly.

Let’s rewind the tape.


>> What’s Happening?

With this deal Stiiizy boosts its store count to 58 doors in CA and 61 total. 

Firstly, props to them. Those are BIG numbers.

BUT… Gold Flora, once a powerhouse, fell apart under debt, lawsuits, and legacy baggage.

Let’s NOT FORGET, #1 among those was The Parent Company.

The Jay-Z-linked startup that burned $575M before folding into the Gold Flora Flotilla.


>> Why is this Important?

This isn’t just Stiiizy “getting bigger”.

It now officially means that TONS of capital + celebrity gloss couldn’t make a business.

TPC was supposed to be culture × capital × regulated cannabis legitimacy.

In reality, it became ANOTHER cautionary tale of story over structural economics.


>> What Am I Watching?

We are no longer in the “founder vs. operator” stage.

We are in the “unit economics vs. vanity metrics” stage.

Stiiizy’s dominance continues in CA organically. Let’s see when it absorbs distressed assets.


Do we LEARN ANYTHING based upon this one?

Celebrity brand equity can sell cars, perfume and luxury goods. 

It does not make up for loss-making dispensary portfolios and too much debt.

To quote Jay Z: “Industry is shady, it needs to be taken over”…

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)

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

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