‘Tis the season for celebrations, and unsurprisingly, the cannabis industry knows how to throw a party! We’re freshly back from the industry’s largest annual conference, MJBizCon 2019, held in the city conducive to festivities: Las Vegas. This massive event contained 250,000 sq. ft. of exhibit space, 1,300 exhibitors and over 31,000 attendees. It felt inspiring to walk the floor, taking in the companies—large and small, established and startups—that drive the massive growth of the industry. Just the energy and excitement in this space was palpable.
MJBizCon 2019 is the place to meet movers, shakers and innovators in the cannabis industry—and meet we did. With everything-and-everyone-cannabis in the same location, business was happening all around. I found myself meeting with companies throughout the Las Vegas Convention Center and in nearby lobbies and coffee shops, making valuable new connections and gaining valuable new insights. The many deals and discussions are indicative of an industry that’s rapidly gaining legitimacy as more “traditional” businesses and businesspeople enter the space. Large multi-state operators (MSOs) are hiring executives with impressive Fortune 500 backgrounds, and it’s more common to hear introductions to company leaders supplemented by their experience with known companies outside cannabis.
MJBizCon 2019 is the event where cannabis industry trends, changes and challenges collide, interact and move the industry forward. While cannabis in 2019 was marred with news of vaping concerns, state market issues, slides in public company stock prices and an overall softening of the investment space, it is clear the market is here to stay. Cannabis is still moving forward, and the demand remains strong. The makeup of how industry-leading companies will look in the years to come and what opportunities will emerge has yet to be determined. However and wherever the industry and its players evolve, it will continue to be decided at places like MJBizCon.
From the Silver Leaf CBC Team: wishing you and yours the merriest of seasons!