This week, we’re taking a deep dive into all things cannabis.
Why? Well, for one thing, it’s just nice to focus on an industry that’s actually doing pretty well despite current events.
But I’m also doing everything I can to make sure we’re all prepared for tomorrow’s live Q&A with Don Yocham. You may already know Don as our Director of Deal Flow Analysis over at the Angels & Entrepreneurs Network… but he’s also one of the top dogs at the National Institute for Cannabis Investors.
In other words, he’s the number one person I call when I have questions about cannabis investing. Public companies, private companies – Don is on top of all of it.
Today, I came across some news that got me really excited.
Drop Delivery, a California-based startup often dubbed the “Grubhub of weed,” announced a new software product this morning – one that could put some real firepower behind the cannabis industry during these uncertain times.
Their product is what’s known as a “turnkey solution” – a system that’s ready to use immediately upon implementation – and the problem it solves is a big one.
See, medical and recreational cannabis sales have been way, way up over the past few weeks. People are anxious. They’re stockpiling enough inventory to get them through the next few weeks. And without a doubt, some people just have a lot more free time at home and are buying it for fun.
But as countrywide lockdowns become stricter, brick-and-mortar cannabis retailers could struggle to get people in the door.
That’s where Drop Delivery comes in. Their software allows cannabis businesses to launch custom delivery services in just hours – and it comes with a suite of features that produce a great customer experience right away.
Every day, the prospect of leaving one’s home becomes less appealing (and staying in becomes more important). But life doesn’t just stop inside the walls of our homes. It’s quite clear that home delivery is one of the most promising ways companies can sidestep some of the negative economic impacts of coronavirus. And now that a “plug and play” solution exists… I think cannabis retailers would be crazy to ignore it.
Drop Delivery is just one example of a cannabis startup that’s making serious waves right now… but it’s far from the only one.
In fact, while the majority of sectors are experiencing everything from temporary slowdowns to full-on beatings, the cannabis space has largely stayed above water. In fact, in many cases, companies in this industry are doing better than ever.
And, with market conditions pushing valuations down day by day, we could be coming up on one of the best times to invest in private equity that we’ve seen in decades.
Now, I do dabble in cannabis investing – not in the product, mind you, but even I can’t deny the profit-making potential here – but I’m far from being an expert.
And while I’d love to be your one and only source of information, it’s much more important to me that you get the best information out there.
So, if you’re interested in learning more about investing in cannabis startups, just click here. You’ll get all the information you need from some of the biggest pros out there – including legendary quarterback Joe Montana, who’s been involved in more than 150 deals and counting.
And, of course, don’t forget to sign up for tomorrow’s virtual meeting.
We’ll talk soon.
Until next time,