Marijuana Business Magazine February 2020

February 2020 | mjbizdaily.com 13 rather think about using a CBD-based product than popping a synthetic chemical pill. There’s definitely almost a holistic view of it as being a little safer. If you ask different consumers, you get different responses, but overall, the response has been favorable. What was your reaction to the stringent testing and sampling protocols that were included in the USDA’s interim final rule for hemp production? Coming from the food industry, it’s a fact of life. There are times that too much regulation or testing can crip- ple industries. I don’t think that’s what this is. This is a pragmatic approach that says if we’re going to separate hemp—and we don’t have federal approval of canna- bis—we do now have a federal window to start driving hemp. Why would we argue against that? And this way, I think the consumer will also feel much more assured that they’re not going to get some THC that they may or may not want … and feel more confident that if they have something made from hemp oil, they know it’s not going to be psychoactive. Given your experience in the food industry, what are some similarities you’re seeing in hemp regulations? At the end of the day, we’re selling a consumer product and the same rules apply. The difference, for example, when I joined (the food industry) back in 1996, is there wasn’t an organic standard. Companies that succeeded were the ones who really spoke to consumer needs and did it with transparency and honesty and delivered products that (customers) enjoyed consuming. This is the same thing. It’s about granting the trust, the confidence, meeting the market need, being genuine and really delivering each and every time with consistency so that you build that trust and loyalty. Branding is branding—this is no different. Laura Drotleff writes for Hemp Industry Daily and Marijuana Business Magazine. She can be reached at laurad@hempindustrydaily.com. An intensely focused yet aptly mellow approach to cannabis M&A. 1592 Union Street, Suite 325 San Francisco, CA 94123 415-215-5227 BRE License # 01354419 Our sole focus is California’s cannabis industry, so we interact with more businesses here than any other investment bank. And that’s how we get deals done in California. See our completed deals: KOacq.com/transactions