Cannabis Industry Power Players

Richard Gottfried has chaired the Assembly Health Committee since 1987. Elected in 1970, he is the longest-serving legislator in New York history. Highlights of his work: decriminalizing marijuana possession (1977); the Health Care Proxy Law; Child Health Plus, the Prenatal Care Assistance Program & Hudson River Park Act; laws legalizing medical marijuana and syringe possession; GENDA; and sponsoring the first same-sex marriage bill. He carries the bill to create universal single-payer health coverage for New York State and gets consistently high ratings from environmental and pro-choice groups.

Where do you see the cannabis industry in New York State in five years?
Hopefully there will be more independent retailers and all retailers will carry high quality products and be able to inform customers with specific information so they know what to expect. Cannabis should be regulated similarly to alcohol and tobacco.

What attracted you to the cannabis industry?
I co-sponsored a bill like MRTA in 1972. I introduced decriminalization in 1975 (which became law in 1977) because carrying marijuana shouldn’t be a criminal offense. When I became aware of the therapeutic and medicinal uses for marijuana, I introduced that bill in 1997 (became law in 2014).

Cannabis has clear value to people’s health. Tell us your favorite way to stay healthy and fit.
I walk as much as I can. I also maintain a pescatarian diet.

Michael Gruber is a seasoned investor, operator, advisor and board member. Mr. Gruber co-founded Salveo Capital and serves as managing partner. Salveo Capital is an investment platform focused on investing across the cannabis ecosystem, from cultivation to manufacturing to retail, along with technology and supply chain solutions that serve the industry.

Where do you see the cannabis industry in New York State in five years?
New York has the potential to quickly become the second largest cannabis market in the U.S., behind California.

What attracted you to the cannabis industry?
This incredibly large market is moving from black market to being legal and regulated, where we can provide much greater access to customers for both medical and adult-use.

Tell us one fun fact about cannabis!
Beer hops are in the same family of flowering plants as cannabis.

Cannabis has clear value to people’s health. Tell us your favorite way to stay healthy and fit.
I’m a big fan of full spectrum and solventless products; they can take the form of oils, concentrates, and edibles.

Todd Harrison is the founding partner and chief investment officer of CB1 Capital Management. He has spent over three decades on Wall Street managing risk and researching financial market strategies with career stops at Morgan Stanley and Cramer, Berkowitz and Co. Todd was also the founder and CEO of Minyanville, an Emmy Award-winning financial media company, and his first book, The Other Side of Wall Street, was published in 2011 by FT Press. Todd lives in Port Washington, New York, with his family and dogs.

Where do you see the cannabis industry in New York State in five years?
Thriving as an economic and jobs engine. And – quite hopefully – well on its way to righting the wrongs of the War on Drugs.

What attracted you to the cannabis industry?
Personal experience with the plant after 9/11, which led to a process of discovery: the history; the science; how it was weaponized as an immigration tool. Profound stuff.

Tell us one fun fact about cannabis!
It’s not about getting high – it’s about getting well (we actually trademarked that!).

Cannabis has clear value to people’s health. Tell us your favorite way to stay healthy and fit.
Well, I exercise. But I’ve also swapped pharmaceutical poison for the earth’s medicine (cannabis), which has done wonders for me (and those who know me).

Matt was one of the first to launch a private growth equity fund in the cannabis industry, and they have allocated over $200 million since 2014 into over 70 companies, across multiple funds. EEC is currently raising their Flagship Fund (Fund III), which has a targeted amount of $150 million, to further expand holdings in the legalized landscape. This fund is focused on later stage growth opportunities with a goal of achieving significant scale in their portfolio companies as we rapidly approach the end of federal prohibition.

Where do you see the cannabis industry in New York State in five years?
I am confident that New York will be the single largest player, next to California, in size and scope.

What attracted you to the cannabis industry?
I’d been in private equity for over 20 years and saw the opportunity to invest in the actual equity of the cannabis companies themselves. 

Tell us one fun fact about cannabis!
Legalizing cannabis would generate $8.7 billion in federal and state tax revenue per year!

Cannabis has clear value to people’s health. Tell us your favorite way to stay healthy and fit.
Golf! While I don’t get out as much as I used to, walking 18 holes is a fun way to stay fit.

David Hernandez is the COO of Happy Munkey, LLC, and has been instrumental in its legacy to legally transition into the cannabis industry, as well as establishing Happy Munkey as the East Coast’s premier cannabis lifestyle brand. David has traveled to 31 of the 38 legal cannabis states and has a depth of knowledge spanning across the entire cannabis industry. In addition to his work in cannabis, David is a passionate photographer, a community builder with a love of NFTs and Web3, and a proud Harlem native with Dominican roots.

Where do you see the cannabis industry in New York State in five years?
In five years, I see New York State as the largest cannabis market in the world, with a thriving cannabis-fueled nightlife and social scene.

What attracted you to the cannabis industry?
The cannabis community is what first solidified my passion for the plant. From bartenders to billionaires, I have seen cannabis connect people in ways unlike any other.

Tell us one fun fact about cannabis!
Uruguay became, in 2013, the first country in the world to make it legal to grow, sell, and consume cannabis. Go Uruguay!

Cannabis has clear value to people’s health. Tell us your favorite way to stay healthy and fit.
I love running, yoga, and pilates to stay physically fit. I use breathing exercises and meditation to stay mentally fit!

During her time in office, Governor Hochul has repeatedly demonstrated her commitment to pursuing an equitable adult-use cannabis industry. Shortly after assuming office, she revitalized the rollout of the Marijuana Regulation and Taxation Act by appointing to the Office of Cannabis Management and the Cannabis Control Board experienced and effective representatives who are committed to social and economic justice. Governor Hochul continues to prioritize these goals and recently announced a $200 million fund to provide financial assistance to social equity applicants looking to start a business.

David Holland is a litigation attorney and the executive and legal director of Empire State NORML, the New York State affiliate of the National Organization for Reform of Marijuana Laws. His legal practice has successfully represented a wide variety of clients in the cannabis industry, from investors to start-up businesses. David is also the co-founder of the New York City Cannabis Industry Association and legal advisor to the Last Prisoner Project.

Where do you see the cannabis industry in New York State in five years?
In five years, cannabis will likely be nationally legalized and New York State will be at the forefront of the industry.

What attracted you to the cannabis industry?
After nearly three decades of experience in the criminal justice system – and after working with High Times Magazine – I dedicated much of my career to undoing the harms of the xenophobic and racist War on Drugs.

Tell us one fun fact about cannabis!
It has been used by humans for thousands of years.

Cannabis has clear value to people’s health. Tell us your favorite way to stay healthy and fit.
I feel better knowing that I have done something to fight systemic injustice.

Boris Jordan is founder and managing partner of Measure 8 Venture Partners, an investment firm committed to the developing cannabis industry. Mr. Jordan has a long history of supporting emerging industries, experience that will prove invaluable to the cannabis businesses and entrepreneurs of New York. In addition to his role at Measure 8, Mr. Jordan also serves as the executive chairman of the board for Curaleaf, one of the largest cannabis companies in the nation.