The cannabis industry today reminds me of the tech industry in the late 1980s. Contrast that with the cannabis industry, where everyone sells to everyone. This is one of the reasons I was drawn to the cannabis industry. By not offering products in those categories, retailers are leaving easy money on the table. I’m neither an attorney nor a certified public accountant, so consult your professional advisors, but in light of the recent federal ruling that classified cannabis seeds as unregulated hemp seed, COGS for seeds should be deductible.
The cannabis industry today reminds me of the tech industry in the late 1980s. It’s the wild west! In the late ’80s and early ’90s, we had tech nerds building and selling computers in their dorm rooms or sleeping under their desks, banging out software while on the verge of bankruptcy. By 2000, they had grown into titans of the industry, running multibillion-dollar companies like Dell and Microsoft.
Before people like Bill Gates, Steve Jobs, and Michael Dell came along, there was no such thing as a “personal computer.” They helped birth an entire industry. The industry was chaotic, with everyone figuring out business models on the fly. Those...
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