Our week began with a deep dive into what weed-aware California has known for years: MedMen is the towering inferno of hot pot messes.
- Having lost 95% of its stock market value, the Culver City-based company has become a cautionary tale. According to a suit, “the WeWork of weed” provided a salary for Bierman’s personal marriage counselor and, among other remarkable expenditures, a panic room for the CEO’s home, Cadillac Escalades and a Tesla SUV.
- Independent of wild spending and profligate partying, MedMen was as much undone by “dealing with regulators who are just kind of making it up.”
- On Tuesday, Santa Barbara supervisors are expected to do what critics say the county should have done a long time ago: Make all permits conditional.
Santa Barbara Independent
- Not many would have remembered the failed canna business Genius Fund. But last month a former employee filed a lawsuit claiming Genius Funds’ owner blew through $165M. That owner was billionaire Dmitry Bosov, who died weeks after the suit was filed in what the Russian government called suspected suicide.
Radio Free Europe
- The suspected killers of Santa Cruz grower Tushar Atre have been arrested. Two of the men arrested were employees at Atre’s cultivation facility.
Silicon Valley Business Journal
- A potential Supreme Court case is asking a big labor question: Under federal labor law, can cannabis workers sue their employers?