In this audio interview, Leslie speaks about the once in a lifetime industry in the cannabis industry.
Topics covered include:
Why Leslie and Electrum Partners are interested in the disruption of industries and businesses that will change the way we live and do business in a massive way.
The friction between State markets that allow for legalized cannabis and the federal illegality of the plant which creates a “ringed-fence” economic environment within each state offering cannabis. How wholesale pricing is insulated from larger competitors due to federal prohibition of cannabis and why some states have distinct advantages over others due to better regulatory frameworks.
How the experience of working with States such as Nevada and Pennsylvania allows Electrum Partners to offer invaluable insight to entrepreneurs seeking guidance on how to engage State and local jurisdictional matters as they prepare their business to enter the market.
Why businesses in the cannabis industry must have the agility to quickly adapt to changing regulatory environments.
Why it is critical to be able to sift through and correctly interpret the mixed messages that have been conveyed by the Trump administration. Why we want to avoid the same fate as the dot com/internet industry experienced when former Federal Reserve Chairman, Alan Greenspan declared that there was “irrational exuberance” in the marketplace.
Leslie also makes a point to express his appreciation for Senator Earl Blumenauer from Oregon who has worked tirelessly to end cannabis prohibition and who has championed the cause for citizens in need of medical marijuana.
His advice to startups raising capital is to build a great team with successful experience, make sure your value proposition is very well supported with evidence you can reference, you want to be extremely well read in the vertical you are in, make sure you have some type of defensible advantage over your competition and lastly to have a well thought out exit strategy.
Leslie Bocskor is the Founder and Chairman of Electrum Partners, a venture management company specializing in medical and adult use cannabis and ancillary businesses.
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