New York recently passed legislation legalizing recreational marijuana use, which is a huge win for the tri state area, especially after New Jersey’s win in November. With the legalization in New York creating huge opportunities for not only small businesses, but entrepreneurs who are already starting to create the infrastructure, but now they have the backing of the government. Kat shares with us the she has personally “met contacts in the New York area, who are looking to bring the sophistication of the West Coast cannabis industry really onto the East Coast, which hasn’t happened yet, simply because the legality hasn’t been there.” Watch as Kat shares her firsthand knowledge of the changes that are ahead with the legalization of New York.
Harry Brelsford 0:06
Hey 420MSP! We’re back with one of our favorite analysts and someone from a different generation. Love your perspective. us old people need young people to give us more perspective Kat out of the New York City area. How you doing?
Katriana Zommers 0:49
I’m great. How about you?
Harry Brelsford 0:51
Good, good. Well, I got New York on my mind. I’ve been singing that Sinatra song New York. Why am I Why am I excited about New York.
Katriana Zommers 1:03
New York recently passed legislation legalizing recreational marijuana use, which is a huge win. huge win, especially after New Jersey’s win in in November. So so the tri state area you know, we have we have the nice little we have the New Jersey and the New York area and it’s it’s just gonna be it’s all green from here, which is really exciting.
Harry Brelsford 1:27
Yeah, what’s the word on the street? Your own opinion and what’s the word on the street because you’re there.
Katriana Zommers 1:33
So the interesting thing is, you know, cannabis talk has, like, despite the lack of legality, cannabis talk has been, you know, a thing in on the East Coast, not nearly as sophisticated as the West Coast. You know, you can’t necessarily go into a dispensary here and be like, I would like Alemany heavy hybrid with a one gram cartridge please. And and I mean, very few and far between dispensaries are going to be that way, at least for right now. We don’t have the, let’s say Paper and Leaf, or anything like that. That being said, I’m the entrepreneurial spirit around here is so huge. Um, you know, I can personally say I’ve met contacts in the New York area, who are looking to bring you know, who are looking to bring the sophistication of the West Coast cannabis industry really onto the East Coast, which hasn’t happened yet, simply because the legality hasn’t been there, which is really exciting.
Harry Brelsford 2:30
Yeah, yeah, exactly. Go on. I mean, you’re talking to friends, they’re gonna they’re gonna have a party. And let me frame it up. Let me frame it up. I have not studied the New York law. I read the New York Times article, so I know what about this deep and I will catch up on my research. That’s what I do. It went legal. So if you were growing are already in possession. When you have a baggie in your refrigerator, Is that your understanding? That’s legal today? They can’t come knocking on your door today.
Katriana Zommers 3:02
It’s my understanding, basically. Yeah, they can they can’t they can’t go after you. Um, and the great part about New Yorkers in general is before that, you know, there was a lot of underground stuff. Delivery delivery is the big big thing it’s it’s not necessarily like the 1980s you go to Washington Square Park and you know, you find the the person who’s just kind of lingering is sophistication I am talking you know, by referral only secret phone number delivery service of our teasle infused pizza pockets like that’s what we’re talking about as far as the sophistication level and the entrepreneurial endeavors that are already going on pre legalization so with the legalization that creates an opportunity for so many small businesses who are already creating the infrastructure but now they have the backing you know of the government essentially so that’s that’s extremely exciting. I’m I’m in talks with some people who are creating marijuana accounting businesses. Um, so which is something that hasn’t been done on the East Coast at all like people aren’t talking about financing cannabis products because bit most banks don’t want to finance cannabis products, at least at the moment. And so it’s it’s super fascinating, just the entrepreneurs that I’ve talked to in the cannabis industry, especially on the east coast and how they’re working to basically hustle and play catch up to the west coast and their sophistication over there.
Harry Brelsford 4:33
Did you see what what I saw on TV the other night of my beloved Gonzaga lost in the National Finals? Got it. Baylor won, I actually have had a relative go to Baylor so that we’re all good. We’re all good. Well, it wasn’t a great game. I was gonna say great game. It was not a good game. But the point I’m getting at is in Waco, Texas, of course there would have been the cars honking and the people poking their head out of the convertible roof and all that whooping it up? You know, we can question the judgment of that pre vaccine, but but the point is that was a TV image. Did you see the same in New York? Were their cars honkin? Or is that maybe at a future date?
Katriana Zommers 5:14
No, I would say, you know, in general, a New Yorkers are not necessarily the types to be outwardly celebrating and you know, partying in the streets. They’re the type of people who you know, they’re going to be blazing up in their in their Upper East Side condo. Thankful, thankful that they don’t have to worry necessarily about being busted for having something on their purse or on their person, you know. So, yeah, that’s kind of the the vibe that I got, as I was In the city the day that I got legalized.
Harry Brelsford 5:43
Yeah. And again, I’m about four years into this. And it was two and a half. 2.5 years ago, I happened to be in Montreal on the legal day when Canada went legal. Now, of course, it took a year, year and a half before that, to put the pieces in place. And that was a celebration, right? legal day, when the stores open. The news was there. I did a little bit of filming, there were street musicians, you know, because the lines went around the block. I mean, that’s, that’s a whole nother topic. And that may be what’s ahead of you, right, because the more celebratory day will be legal day when that dispensary opens. And there’s a live band and all that.
Katriana Zommers 6:29
Well, we’ve got 420 you know, I know I know for sure.
Harry Brelsford 6:33
Katriana Zommers 6:35
top parties. I don’t know how it is necessarily in Austin, but rooftop parties are all the rage right now. I know at least three entrepreneurs who are hosting their own infused rooftop parties for for 20. So you know, it’s it’s all about it’s all about those. There’s almost like a speakeasy like vibe to the cannabis industry. Even though it’s completely legalized, there’s still an element of exclusivity and being a VIP, at least in the city, which is really cool, at least in my opinion.
Harry Brelsford 7:07
Yeah, I can’t can’t speak towards Texas as I’m a fairly new resident here. And I’ve been keeping it cool till I’m healthy and could in fact, feel comfortable going to a rooftop party. But that day is gonna come probably sooner than we think. But I’ll end on this. So what we’re hearing what we’re seeing with the different states my research is, it typically takes historically 18 to 24 months after passage to go through the regulatory environment and then licenses awarded and then you got to build the the whatever you are, right the the field of dreams or the dispensary, whatever you do, this takes time, which is actually good for my audience of computer guys and gals, managed services providers, right, they need to start today really thinking about developing business in the New York and New Jersey market basically on the same timeframe. So we’re not there. Now. I talked to Duane Roebuck this morning at Blue Star distributing a leading candidate tech influencer. And he thought, you know, it could be just over six months in New York. And he said, Here’s why. And you kind of alluded to this. New York will now benefit from the learnings of the early West Coast states, right. When when, when Washington and Colorado basically came out at the same time. They had to create the paradigm, the policy, the procedures, the this the that stubbed their toe learn along the way. And New York will prop in Ennis, New York. So Duane disagreed with me, he thinks it could very well be six months, the truth is somewhere in the middle. So well, thanks for your enthusiasm and excitement. And I look forward to talking next month and tell you what is we move forward over the next few months, keep your ears open on what you’re hearing on the streets, right? That’s a really valuable contribution and a rollout and deployment. What’s going on?
Katriana Zommers 9:11
Absolutely. That sounds wonderful.
Harry Brelsford 9:13
All right. Take care. Bye bye.