Picture the scene. You’ve just come off the Las Vegas Strip. You’re in a taxi heading for the airport to catch your flight home and that sinking feeling kicks in… You can’t find your passport.
It was in your pocket earlier… Hell, you had it this morning when you checked out of the hotel. But somewhere between taking the Monorail, traipsing through countless casino corridors, getting a pic with a half-naked cowboy, taking the Deuce bus, and last-minute shopping at Barnes & Noble, the bastard has disappeared.
Now TSA are rigorously checking your carry-on bags. you did ditch that last bit of weed, right? A border patrol guard huffs and puffs, scratching his head whilst looking befuddled at your UK driving license.
How the fuck did this happen? I wasn’t even that stoned, was I?
“OK – you can go through,” Mr TSA finally says, after flicking through a girthy copy of Guide To Drivers Licenses Of The World. “But I can’t guarantee they’ll let you in the other side.”
“I’ll be an hour’s flight from home when I land in Dublin,” I reply. “I’ll take my chances.”
MJBizCon – The biggest yes, but the best?
Las Fucking Vegas. You feel cheated just being there. It can be fun and all, but nowhere else I’ve visited on Earth so shamelessly solicits your wallet. Like the mega-casinos at the heart of the city of sin, the house here always wins.
Love it or hate it, Vegas is where the cannabis industry congregates in droves for Weed Week – aka MJBizCon – every December. I was last here two years ago, when the cannabis sector still felt shiny and new. Fast forward to 2024, and while so much has changed in 24 months, the excitement feels far less palpable.
Maybe that’s because Vegas does hyperbole superbly – the effect being that nothing at all seems impressive. Everything’s the ‘biggest’, ‘best’, ‘warmest’ (in one notable case) or insert self-aggrandising adjective here.
Here lies the problem. Cannabis as an industry, at least that on display here in Vegas feels like it’s following suit. Perhaps it’s the cynical Brit in me, but frankly, the whole American cannabis experience can feel disingenuous – with some exceptions.
Like many, I’m getting impatient with a distinct lack of traction here in the UK. Germany’s cannabis laws are still unfolding. Other European nations are making the right noises. North America seems to present the most opportunity for the green-minded entrepreneur, but despite the veneer of legality, it’s still difficult to run a cannabusiness in the USA.
You wouldn’t think that wandering the halls of the Las Vegas Convention Center. At least, not given the number of stands hawking everything from the latest extraction doohickeys to good old-fashioned rolling papers. However, while there were a lot of exhibitors – with clearly a lot riding on the eventual success of the cannabis industry – attendee numbers seemed to be lacking.
30,000 people sure sounds like a lot, but in a 2.5 million sq ft convention centre, those numbers didn’t seem to touch the sides. Regardless, those that were there seemed to be in good spirits. Lots of chatter, bonhomie, and celebratory high-fives between those who’d dug their heels in tight and are continuing to hold out in these tough times.
And right they are to be joyful, because even being part of the cannabis industry is difficult right now. A good few folks I spoke to expressed their disillusionment. Not because they expected to be part of a Great Green Payout anytime soon; but because operating a cannabusiness doesn’t seem to be getting any easier.
The great rescheduling
In the US, the hallowed promise of rescheduling is yet to happen. Plant-touching cannabusinesses still operate despite 280E restrictions – which prevents them from claiming tax relief for their expenses. While 25 states are now adult-use (with 38 offering medical cannabis programs), on a federal level, cannabis is still essentially a narcotic.
Yet, the hardy hempsters hold out hopefully. And will do so as long as they can afford to. The sheer expense of exhibiting at MJBiz highlights just how prohibitive the entry bar has become for smaller operators. Is this just symptomatic of cannabis + capitalism? Perhaps. But no one I chatted with about the state of the industry wanted to see a handful of companies dominate the sector.
Cannabis + capitalism = advertising. Credit: Dave Barton
There’s nothing wrong with making money. At all. But no one’s ready for Corporate Cannabis quite yet – not in the way that MJBizCon wants it to be. In addition to a lack of cash flow, the level of formality employed in other industries doesn’t wash in cannabis. Nor does hierarchy. Sure, there’s a whiff of ‘pharma formal’ about the medical side, but by and large, cannabusinesses are small; with many maxing out their marketing budgets on a single Vegas blowout.
How long will that be sustainable for in a struggling market?
Magic on the fringes
Let’s be honest: we all know that the side events outside of the conference are where the real connections are made. And there are tons of them – covering every interest, social, and support group.
For me a personal highlight was the Global Cannabis Network Collective (GCNC)’s C-Suite Connector event; held well away from The Strip at the funky Beverley Theater, in downtown Vegas. (Full disclosure, this is my client’s event.)
I had the privilege of interviewing a host of international attendees on camera – some of whom were here for the first time. The event was themed ‘Global Cannabis Stories’ and midway through the event attendees were ushered into the venue’s movie theatre to watch a 15-minute movie trailer showcase featuring a handpicked selection of films covering all ends of the cannabis spectrum – from stigma, persecution, and social equity; right through to the burgeoning Icelandic hemp industry and ‘Reefer Madness: The Musical’. Eclectic, but accurate.
Another highlight was the Roll Models filmed event (coming soon to Netflix), which took place in ‘The World’s Largest Dispensary’; aka Planet 13; part of a wider piece being curated and produced by Catherine Sidman. I participated on a marketing and cannabis panel alongside Boveda Inc.’s Kate Holste and Twister Tech’s Jocelyn Prefontaine; with Heidi Whitman from emPowHer hosting alongside Melanie Wentzel, author of Cannabis Queens; which debuted at MJBizCon.
I went to a couple of other things too. I even ventured out to the Chandelier Bar in The Cosmo, not once, but twice, where the Canna Elite can be spotted conversing and cocktailing. The best part of that experience was getting to hang with my buddies at Sister Merci. For a few short moments, I got to be one of the cool kids.
Collaboration is key
While MJBizCon itself was a bit short on excitement, all-in-all I fucking love cannabis conventions. I love walking – parading, even – across a trade show floor. I love the way extraction equipment looks like it came from Willy Wonka’s workshop. I love how terpenes have become a category in their own right. I love the way Jürgen Bickel l looks at me when he sees me wearing my shirt with his face all over it. I love the merch. The high fives. I love how rolling paper suppliers sit side-by-side with SaaS platforms and soil nutrients. The diversity is testimony to just how far cannabis has come in recent years.
What I love most though is the fact I continue to see a collective camaraderie among cannabis people. We share our stories as we share our joints. For all the things going wrong with cannabis, the way the majority of the sector interacts is second to none. We lift each other up. We connect, support, and celebrate together.
I’d wager there’s more equality and diversity here than any other industry. It’s far from balanced, but the presence of numerous women in cannabis groups alongside minority, Indigenous, and other organisations, demonstrates that cannabusinesses are looking to increase representation and participation in this still fledgeling sector. There’s a mental agility that corresponds with entrepreneurship. And there’s buckets of it in cannabis. There are a lot of smart, enterprising people; most of whom are very down-to-earth and genuinely helpful and caring. You don’t get that at many industry events.
All of this nurtures my soul – in a way that Las Vegas cannot. People are building the industry, and laying positive foundations. But for the cannabis sector to truly flourish we need to collaborate – not just congregate.
And congregate we will – in Las Vegas, I guess, for the foreseeable. But if push comes to shove it helps to know you can escape the madness… as long as you have a picture of your passport and a driver’s license. Even one that is out of date.
