Well, that was a year! I will sign off this diary with a bit of flag waving.
Canada is a wonderful place, but it’s not NUMBER ONE, BABY! in much. Ah, but cannabis! Not quite the first to legalize it, but definitely the global leader in the professionalization, policy making, capital raising and production. Shame they haven’t got the profitability piece down...
Being a global leader is why I joined the industry. I liked the idea that I was in something emergent and influential. The aforementioned profitability challenge is why I am no longer in the industry! So, can Canada continue to lead, with its structural weakness but policy advantage?
A few thoughts:
A decade of international expansion in legalization – from the EU to New Zealand to Israel to South America – is exciting. Canada legislation and policies will be the global standard.
We want that legalization process. Except for the US. If/when Biden/Harris get elected, expect legalization within year 2 of that Administration. The US will swallow the global standards whole, especially the marketing regime. Expect Canadian capitulation quickly thereafter.
Others may wipe the floor with Canadian business operations. Look out for Israel to lead entrepreneurially; Malta from a business/governmental overlap that gets decisions made quickly inside the EU. Personal preference, Jacinda Arden in New Zealand should rule the entire world, so if NZ legalizes next year I will rooting for their methodology.
Cannabis will continue towards its CPG end-game. This means the passion play will move to psychedelics. Canada has a chance to replicate its world leadership in that sphere, although my guess is the US will get there first.
Happily, the legal market is winning, and will win out. So Canada will have a solid industry, edging towards and beyond 11-figures in value to the economy. In 10 years, no-one will care to comment about it. It will just be another bedrock industry in the Canadian economy. Nothing to see here. Looking forward to it.
This Much We Know.