The worst person in cannabis strikes AGAIN!

Welcome to our second installment of the Yak newsletter!

Thank you for subscribing and listening to me wax poetic.

Before we begin, I want to make sure that you download the Green List. It's the all in one compendium of events happening in cannabis for the rest of the year, in collaboration with my good friends the Beard Brothers.

This week I wanted to provide a PSA for everybody in the industry.

In the past week or two, one of my least favorite people has emerged once more, like a buoyant turd that refuses to flush:

It’s Adam Bierman of Medmen!

Bierman is back in the news because he has written a book on his experience running MedMen into the fucking ground. To be completely honest, I can't believe any publisher would give him a platform to project expertise, particularly not one as allegedly reputable as Simon and Schuster. So shame on you for printing such drivel.

Let me make this crystal clear:

— Adam Bierman did NOT create the cannabis industry

— Adam Bierman is NOT the most influential person in the cannabis industry

— Medmen is NOT the most seminal deal in the cannabis industry

The shameless self aggrandizement spouted by Mr. Bierman as well as his misaligned, misinformed view of his place in the ecosystem and on the planet is unbearably cringe.

He is positioning himself as a pioneering creator when in fact he is a prolific destroyer of shareholder value and positive sentiment towards our sector. His legacy is taking $400M in capital and liquidating it.

He has made all of our jobs harder by becoming the poster child for stupidity.

In all the transactions that I have witnessed in my life, MedMen is probably the one which had the lowest level of fiduciary responsibility in it.

And this is something that we in the cannabis industry should unite to prevent happening again. Because when the big institutional capital comes flooding in—and you MARK MY WORDS, it will—we need to have our house in order make sure that the industry isn’t tarred by the incompetence of people like Adam Bierman.

Here’s what else is going on:

Your boy was quoted in the Wall Street Journal!

This was a dream of mine since I was a teenager, so needless I’m delighted. I just wish I was talking about something more positive than the industry’s debt wall…. Read the article here.

And I was featured in Fat Nugs!

Fat Nugs is a serious legacy magazine that spotlights great, real stories in cannabis. They were nice enough to put me into their latest online issue, find out more about their latest print edition focused on current and past cannabis prisoners here.

Glass House closes $50M loan

My client and outright leading operator in California, Glass House, closed $50M loan at 8.58%. IYKYK, this is a boderline unheard of deal right now and one which everyone at the company should be very proud of.

Hall of Flowers

Annnnnnd finally, I’m going to be at Hall of Flowers March 19-20 and YOU SHOULD BE TOO. It’s still the best brand-focused event in cannabis and this year I’ll be posted up at the Access Lounge.

This newsletter is going out in partnership with Jesse Parenti, Shahbaaz Kara Virani and the Beard Bros.