2024 Cannabis Industry Power Players

Joseph Abramov, owner of Urban Leaf Dispensary, situated mere minutes from Grand Central Station, possesses a multifaceted background in cannabis and real estate. Originating as a legacy cannabis dealer, he later flourished as a real estate investor and developer, leading Keter Management LLC to success. With a keen focus on revitalizing the New York cannabis scene, Joseph aims to utilize his varied expertise and entrepreneurial drive to pioneer innovation and advancement within the industry.

What do you feel is the most urgent issue facing the New York-Cannabis industry?
Ensuring equitable access and participation, particularly for communities affected by past drug policies, is a critical challenge for the New York cannabis market. Fostering social equity involves creating pathways for small businesses, minority entrepreneurs, and individuals with prior cannabis-related convictions. Simplifying regulations and licensing procedures not only helps legal businesses thrive but also deters illicit market operations, ensuring the market’s longevity and prosperity.

Do you have any cannabis industry-specific advice for people looking to break into the field?
Keep pushing forward tirelessly if this is your genuine passion. Stay dedicated to your vision and believe in it wholeheartedly, knowing that persistence pays off. It’s crucial to actively network and seek opportunities for ongoing education, given the constantly changing landscape of the industry. Attend events, conferences, and prioritize continuous learning to stay informed and seize new opportunities as they arise.

What are your hopes for the future of the cannabis industry in New York?
In the future, I hope to see improved access to financial services for cannabis businesses in New York. This entails easier banking, more accessible loans, and increased investment opportunities. Current federal regulations often limit banking options, hindering growth and stability for many cannabis enterprises. By addressing this issue, the cannabis industry can flourish, innovate, and make a more significant economic impact.

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
Legalizing cannabis in New York has yielded positive effects, such as driving economic growth through job creation and boosted consumer spending. Regulation ensures public safety by standardizing products, guaranteeing quality for consumers. Furthermore, it fosters social equity by enabling minority entrepreneurs and those with prior cannabis convictions to engage in the industry. In sum, legalization enhances the economy’s dynamism and inclusivity while furthering social justice goals.

Mayor Eric Adams has served the people of New York City as an NYPD officer, state senator, Brooklyn borough president, and now as the 110th Mayor of the City of New York. Mayor Adams is a lifelong New Yorker and a proud product of New York City public schools, including Bayside High School in Queen. His administration is committed to empowering a diverse coalition of working families in all five boroughs and is leading the fight to bring back New York City’s economy, reduce inequality, improve public safety, and build a stronger, healthier city that delivers for all New Yorkers.

Ryan Adams is the founder and managing partner at HZQ Consulting, a digital strategy and political consulting firm specializing in campaigns and public affairs. He has been recognized for his marketing and communications work as one of 2023’s “Kings of New York” by Schneps Media, as a 2023 Cannabis Industry Power Power Player by Schneps Media, as a 2022 40 Under 40 in NYC, and as a 2022 Top 75 Political Consultant by City & State.

What do you feel is the most urgent issue facing the New York-Cannabis industry?
The most urgent issue is overcoming the stigma rooted in decades of propaganda. Misconceptions about cannabis hinder its potential benefits. The industry needs robust education efforts to change public perception and highlight the therapeutic advantages of cannabis. That’s why I am proud of the work my clients have been introducing to make the benefits of cannabis more accessible to all.

Do you have any cannabis industry-specific advice for people looking to break into the field?
Newcomers should prioritize education and advocacy as foundational elements of their entry into the cannabis industry. It’s essential to thoroughly understand the complexities of cannabis cultivation, distribution, and regulation. Staying informed about evolving state and federal laws is crucial for compliance and strategic planning. That being said, nothing beats just going out and meeting folks in the industry who are trying to build and make it better! Contact the New York Cannabis Retail Association!

What are your hopes for the future of the cannabis industry in New York?
I envision a robust and flourishing cannabis industry in New York, characterized by widespread legal access and continuous innovation in product development. Once we can get over the regulatory hiccups and administrative fumbles we have experienced over the last few years, we can be seeing job creation, increased tax revenues, and support for ancillary businesses that will bring the industry into the public eye in a positive way. New York should lead the way!

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
Legalization has unleashed a wave of creativity and innovation. Legalization has increased public awareness and acceptance, allowing more people to explore and benefit from informed cannabis use. As misconceptions fade, more New Yorkers are discovering how cannabis can enhance their quality of life, whether for medical relief or recreational enjoyment. This newfound openness is fostering a vibrant, inclusive community, and paving the way for continuous growth and positive social change.

Originally from Louisiana, Beau Allulli was raised with a family valuing community, family, and tradition. His early experiences instilled in him the importance of relationships and connectivity, a principle he carries into all his endeavors. Throughout his youth and into college, he worked in service jobs which was later the foundation for a successful cannabis delivery service he operated from 2006-2021. During that time he was arrested twice for cannabis sales, which made him eligible for CAURD.

What do you feel is the most urgent issue facing the New York-Cannabis industry?
The industry needs control of the market and regulations that support licensed operators. Comprehensive enforcement against illegal operators and a faster rollout of the legal dispensaries. Taxation and banking also play a crucial role in the success of a cannabis operator. Understanding the limitations around 280E is essential when creating a financial model. The federal classification hinders operators from claiming tax credits and deductions for expenses they incur except for the cost of goods sold.

Do you have any cannabis industry-specific advice for people looking to break into the field?
Explore what inspires you and that will lead you to your path. Develop the skill set around that inspiration and put it to use. Get out and visit the licensed shops, meet the operators and the people working in the industry. Most of us are willing to share our story and provide any guidance we can. There are lots of cannabis resources via meetups and expos that have a low barrier for entry.

What are your hopes for the future of the cannabis industry in New York?
I hope for the success of every licensed operator. I believe we will witness the expansion and diversification of the cannabis experience, so all people feel like they have a spot that represents them. I would love to see New York brands rising to national recognition and beyond.

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
The peace of mind from the consumers. So many of our clients have expressed gratitude that we are providing them quality products they can trust. Also, this is just the beginning of job creation in NY. From the farm to the sales floor, there are lots of folks now dependent on the revenue from this new industry. This is a community of collaborators who are now working together as a result of legalization.

Ted Anastasiou is a proven entrepreneur, investor and attorney with over a decade of experience in highly regulated industries. Since 2022, Ted has won over 50 licenses across New York’s supply chain. He provides fractional GC and CSO services to his cannabis clientele, including market leaders Verano, Empire Standard, and Strain Stars and specializes in sourcing and structuring mergers and acquisitions, joint ventures and capital raises, go-to-market and sales strategies, regulatory compliance, and government relations.

What do you feel is the most urgent issue facing the New York-Cannabis industry?
The most urgent issue facing the New York cannabis industry is avoiding the negative pitfalls experienced by other mature legal markets (e.g., California, Michigan, Massachusetts) – saturation, price compression, and consolidation. Managing these challenges early is crucial for sustainable growth and long-term success for entrepreneurs and the industry at-large.

Do you have any cannabis industry-specific advice for people looking to break into the field?
Treat everyone with the same approach you would with an old friend – with kindness, empathy, and patience. The legal market is brand-new and we’re all traversing the same shifting regulatory and competitive terrain that is beset with known and unknown challenges. By embracing collaboration and mutual respect, you will contribute to fostering an industry culture where everyone can succeed. 

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
The significant tax revenue generated by the cannabis industry is one of the many positive impacts of legalization. One third of all cannabis tax revenue is allocated towards mitigating substance use disorders. As someone in long-term recovery, I find this particularly meaningful and applaud the State’s thoughtful approach addressing this important issue. 

Co-founder and managing partner of Merida, Mitch Baruchowitz has 12 years of experience investing in cannabis and over 20 years of entrepreneurial, legal, regulatory, and financial experience in highly regulated industries. He is an expert in the regulatory component of cannabis limited licensing and multi-state cultivation operations, and a frequent speaker and author on cannabis investment strategy and diligence. Prior to founding Merida in 2016, Mitch co-founded Theraplant LLC, one of four Connecticut-based cultivators, and Leafline Labs LLC, one of two Minnesota cultivators. Mitch was previously head of investment banking for ACGM and Cavu Securities.

What do you feel is the most urgent issue facing the New York-Cannabis industry? 
New York has to thread the needle of strong regulatory enforcement and sanctions that encourages legal market participation while not replicating the mistakes made by the War on Drugs in disproportionate criminalization of minorities.  Allowing unregulated activity is hurting legal businesses and is more likely to create unintended consequences that hurt the legal program for years. 

Do you have any cannabis industry-specific advice for people looking to break into the field?
While the rules seem to be moving in a direction that further creates a more normalized cannabis industry, the entrepreneurial energy needed to succeed in the space is daunting.  Challenges arise almost daily that require careful navigation which means even base level employees have to have an entrepreneurial approach to their roles.  The best organizations have a solid structure, but leave room for that energy so bring it from day one in any endeavor you are trying to get into.

What are your hopes for the future of the cannabis industry in New York? 
It would be great to see some of the discussed licenses finally launch, like consumption lounges.  A thriving NY ecosystem would have a ton of product innovation, grow facilities producing amazing products, and would be a great combination of legacy operators and newer entrepreneurs that can unlock the creative potential that exists in such a diverse landscape like NY.

What are some of the positive impacts you’ve seen from legalizing cannabis in New York? 
The way NY rolled out its adult use program was abysmal-it decriminalized before allowing any legal operators to start operations which created a terrible doom loop of unregulated activity.  There is no hiding that and some of the early leaders of that should rightly be criticized for that. However, the creative energy that has been unlocked by legalization has been amazing to watch and seeing formerly incarcerated people now benefitting rather than suffering from legal issues is simply incredible.

Vladimir Bautista is the CEO and co-founder of The Happy Munkey brand, an internationally known NYC lifestyle company that is synonymous with cannabis culture. Born and raised in Hamilton Heights, NYC, Vlad and The Happy Munkey are formidable advocates and leaders in the cannabis space. Vlad is widely recognized for his deep relationships with the international cannabis elite and his successful experience in music, hospitality and event production. Their first dispensary opens this summer.

What do you feel is the most urgent issue facing the New York-Cannabis industry?Enforcement of the illicit stores throughout the state, but specifically in NYC is definitely on top of the list as well as finding locations where the rent is affordable to CAURD licensees. Even with the rescheduling of cannabis to Schedule 3 from Schedule 1 won’t make more investment money available to those who need it the most to succeed. New York will find a way to make it work and become the world epicenter for cannabis.

Do you have any cannabis industry-specific advice for people looking to break into the field?
Patience. Nothing happens overnight and you need to have a strong business team behind you.

What are your hopes for the future of the cannabis industry in New York?
I have the highest of hopes for the future of the cannabis industry in NY. Although there have been some bumps along the way, I still believe this has the potential to be the best program, not only in the U.S., but worldwide.

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
Job creation and opportunities for those most impacted by the failed War on Drugs to get into the legal side. Also, the tax revenue generated by legal sales has 4% going to each community so it will be great to help the communities get more teachers, police and other services that they’ve lacked.

As co-founder and chief operating officer of Bliss + Lex, Chris ensures seamless dispensary operations, crafting an inviting and upscale retail environment. He curates a team of passionate budtenders, manages vendor relations, and spearheads product selection. Chris brings over a decade of experience in sales, construction, and hospitality. Beyond his entrepreneurial endeavors, Chris is committed to positive social impact and currently serves as the Facilities Director for a non-profit organization serving victims of domestic violence and homelessness.

What do you feel is the most urgent issue facing the New York-Cannabis industry?
Success will be greatly dependent on the regulation and enforcement of unlicensed retail locations. In addition to the impact on consumer buy-in and trust, operating an unregulated business can pose a significant risk to the long-term stability of the industry. With a projected market value of $2 billion and a focus on social equity licensees, we must support market regulation to make impactful strides in diversifying ownership and leadership in one of the largest markets.

Do you have any cannabis industry-specific advice for people looking to break into the field?
When looking to open a licensed retail location, it is important to have a good understanding of the neighborhood, its demographics, and market potential. You want to ensure that there is a notable demand for the products you are offering and that your location is accessible to consumers. In addition to accessibility to consumers, location also plays a role in attracting and retaining the best employees.

What are your hopes for the future of the cannabis industry in New York?
I hope to see more legacy cultivators and legacy operators, like myself, enter the market.

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
New York’s provision of social equity licenses presents a significant opportunity. The success of CAURD licensees in New York can serve as a blueprint for future social equity applicants in other markets. This forward-thinking approach has the potential to enhance business and financial prospects for social equity applicants in upcoming markets.

As co-founder and CEO of Bliss + Lex, Nicole Lucien spearheads the intricate management of strategic business operations. With a rich professional pedigree spanning education consultancy, computer science, and management, she seamlessly blends her expertise to foster pivotal business alliances and craft an overarching strategic vision. Additionally, Nicole leverages her background in software engineering to analyze data on Bliss + Lex’s sales trajectory and consumer behavior to inform key business decisions.

What do you feel is the most urgent issue facing the New York-Cannabis industry?
The restrictive marketing and advertising regulations make it difficult to reach adult-use consumers. Despite current efforts to fight the stigma associated with cannabis use, restrictive marketing regulations can send a conflicting message and have adverse consequences. While there should be regulations to ensure that marketing is directed at adult-use consumers only, such restrictions create a veil of secrecy that can have the potential to perpetuate negative narratives and stereotypes.

Do you have any cannabis industry-specific advice for people looking to break into the field?
A great team is the key to success. Good legal representation will support you through complex business negotiations. A strong management team will ensure everything runs smoothly and allow you to focus on critical business tasks. Budtenders are one of the most important aspects. They are your connection to the consumer. Ensure your staff is paid appropriately, is adequately supported, and knows that they are greatly appreciated. It will make all the difference.

What are your hopes for the future of the cannabis industry in New York?
I look forward to seeing more CAURD dispensaries open and seeing one of the largest markets in the country run by those most negatively impacted by cannabis prohibition policies. For our consumers, I am excited to add new products to an already strong profile of New York State-grown brands. It will increase variety and allow consumers to find the products that work best for them. As we like to say at Bliss + Lex, “Cultivate Your Bliss.”

What are some of the positive impacts you’ve seen from legalizing cannabis in New York?
There is so much hope and support for the legal cannabis industry in New York. We speak to consumers daily whose lives are positively impacted by the products they purchase, the consumer education provided, and the customer service they receive at Biss + Lex. As more licensed dispensaries open, with greater accessibility to quality products, this effect will only compound.