This article was originally published on The Leaflet, a newsletter by Feuerstein Kulick.
On September 14, 2021, FK and Focus Growth co-founder David Feuerstein attended the world-renowned SALT conference to join a panel on the future of cannabis investing. Founded in 2009, SALT brings together thousands of alternative-investment experts from around the world to discuss everything from crypto currencies to emerging market ETFs. Prior speakers include President Joe Biden, Pershing Square founder Bill Ackman and actor Will Smith. In other words, it’s a big deal.
(Panel experts SALT’ing attendees with cannabis knowledge.) SALT’s cannabis panel also included industry luminaries Jennifer Drake (Ayr’s Co-Chief Operating Officer), Emily Paxhia (co-founder of Poseidon), Rob Sechrist (President of the Pelorus Equity Group) and Matt Karnes (the founder of GreenWave Advisors). The panel spoke to a packed house about a wide range of cannabis investment issues, including the state of the cannabis market, the fragmentation caused by the dichotomy between state and federal law, the future of Chuck Schumer’s cannabis reform bill, and the potential effects of interstate commerce.
The fact that SALT convened a panel on the future of cannabis investing speaks to how far the industry has come. It wasn’t long ago that cannabis companies were shunned by institutional investors. But, like most things cannabis, that appears to be changing, and if the federal government finally does enact meaningful cannabis reform, institutional investors could be pouring into the space sooner rather than later.