Celebrity weed brands keep dying and LMC has a theory about the room where those deals get made.
Everyone at that table is incentivized for the deal to close. Nobody gets paid to say no. So even when someone in there knows cannabis works nothing like liquor licensing, there's no reason for them to speak up.
He walks through why the ones that survive all have the same thing in common: they live it. Wiz with Khalifa Kush. Method Man out there in the story feeds gifting boxes. TCA reps working events. Compare that to Jay-Z and Monogram, where the D'Ussé playbook got copied into an industry that doesn't work that way.
Then the Drake and Canopy Growth story. LMC interviewed Bruce Linton, Canopy's founder, who told him the deal was a promo vehicle. Canadian rules block direct brand advertising, but you can advertise through news, so every press release about Drake was the actual product. He doesn't think they ever seriously intended to launch a brand.
Plus why running a cannabis company like a tech company doesn't work, and his actual advice if a celebrity asked him how to enter the space.
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