I Lost My Job in the Cannabis Industry

This week, the Texas House passed a bill to outlaw THC from hemp, HB 46. The Senate had already approved a similar bill, SB 3. Governor Greg Abbott and Lieutenant Governor Dan Patrick were strongly in favor. It's not yet known for sure if Abbott will sign it into law, but this remains the extremely likely scenario.

I wrote earlier this month about the risks to hemp-based cannabinoids, suggesting that several states are now pushing back, including Texas. Texas has a miserable medical cannabis program and no state-regulated adult-use, and this move is going to wipe out a lot of jobs and limit access to products that people want or need. This ban is wrong, just like alcohol prohibition was. The right way to deal with this war between state-regulated cannabis and federally legal hemp is to have more consistent regulation of products in the states and, perhaps, at the federal level.

I first came into the cannabis industry in 2013, launching 420 Investor and learning a lot. In 2015, I launched New Cannabis Ventures with a partner. Both businesses are very challenged currently, but I put a lot of time and effort into them still.

I have had a lot of concerns about the hemp-based products market. Too many sellers selling garbage like synthetics to people who aren't at all protected by regulation. There is limited testing, and the sellers are not regulated at all. One day, I was walking in my neighborhood, and I walked into Cecret Library smoke Shop on West Gray. This is the second location in Houston, and it is owned by Bahama Mama. I was very impressed with Toby, a salesperson who works there. We had a long conversation. A few weeks later, I was on a walk in the Heights and walked into Bahama Mama, meeting Mohammed, who owns the franchise. Again, I was very impressed. Today, I spoke with Toby again.

Ahead of the vote in Texas, I came up with a new business idea: a website to help educate consumers about hemp-based products in Texas. I had a great website name that I didn't buy and that remains available. My idea was to help people better understand the products and the retailers.

While I never launched my new cannabis business, it looks like for now that I won't be able to do so. My hope is that the federal government will re-do the Farm Act of 2018 and create a regulated national marketplace.