Retail investors get bored really easily. You may have read about Robinhood, the gamified investment app where apparently young people are investing their time and energy, their luck and their dopamine on short-term wins. Recently, one young investor somehow managed to leverage his way to $750,000 of losses and killed himself.
Anyway, Robinhood is fully aligned with the cannabis lifecycle story: excitement and cool factor getting in early, I can talk about my investment with my friends and family and they ask “are you sure?” and I say “I got this…”
Then the zeros start to get added at the end of the figures and I am rolling in it. Then I think I am invincible. Then the market corrects me in my mistaken thinking.
Then I’m sad, and it’s not fair.
But not for long, because here comes the new new:
- boutique cannabis (“hand trimmed, small lots, legacy growers…”)
- celebrity-endorsed cannabis (“He’s from Hollywood, they know about blockbusters there”)
- cannabis extraction (“White labellig where’s it at…”)
- cannabis beverages (“They have solved the mettalic taste conundrum! No, really, this time it’s different…”)
And the new, new new: psychedelics! Until next week…
This Much We Know.