Vested Capital
Vested Capital

Episode 7 · 1 year ago

(EP7): Jennifer Beck Founder Of Jihi.com, Cannabase.io Sold To Helix TCS, Challenges Of Cannabis Startups

ABOUT THIS EPISODE

Jennifer Beck is currently the founder of Jihi.com, a CBD skin and body care producer that aims to help high performing people sleep better and recover faster.

Before this, Jennifer was co-founder of Cannabase, a wholesale exchange platform for the legal cannabis industry, which was acquired for over seven figures by Helix TCS .

I knew the cannabis industry was heavily regulated, but I didn't realize how much of a challenge it presents to potential founders until I heard Jennifer explain what she went through.

While it's an exciting and growing industry, entrepreneurs who decide to get into the Cannabis space have to be ready to face roadblocks around financing, taking payments and even simple things like moving product from one place to another.

Despite the difficulties, Jennifer was able to raise capital, build a team, and exit with equity in a newly publicly traded company. She worked at the acquiring company for two years, before she left so she could sell some of her shares.

Using her capital, Jennifer then decided to fund a new company without outside investors, formulating her own CBD products and launching Jihi, a DTC and subscription CBD product range.

If you want to hear how a two-sided marketplace business was created and then acquired for over seven-figures, how Jennifer monetized her marketplace, and what it takes to launch a physical product in the CBD industry, this interview will definitely give you insights.

Enjoy the podcast.

Yaro

Podcast: https://www.yaro.blog/pod/
Blog: https://www.yaro.blog/

Hello, this is Yarrow, host of the vested capital Podcast, the show about how people make money, build capital and then put their capital to work. I interview start up founders who've enjoyed big exits, Angel Investors, venture capitalists, Crypto and Stock Traders, real estate investors and leaders in Tech. Today you're going to hear my interview for vested capital, episode number seven, with Jennifer Beck. Jennifer is the cofounder of Cannabase, which was acquired by he lex TCS, and currently she is the CO founder and CEO of Gee, which is a cannabis retailer where she's actually making her own CBD products. I should say it's a CBD retailer for skin and body care products. Cannabase, the company she founded and then sold, was a marketplace, basically connecting the producers and the buyers of cannabis related products. So you're going to hear during the first half of this interview how that company was started, all the challenges that come with working within a space that is highly regulated and also, because of the nature of the different laws around the states and around the world, lots of extra challenges in terms of things like getting financing, being able to process transactions, which she still could not do today and could never do when she was the cofounder of cannabase. So, as you will learn, her marketplace was actually running under a business model that was very much a traditional publishing model, bringing together two groups of people for rating an audience, a market place and then monetizing with things like sponsored post and other types of paid advertising that the user of the platform could do to reach and connect with each other. So Jennifer breaks down everything that she did with that, how she met her husband, who became her technical cofounder, she raised investment in that company and then how they eventually sold for over seven figures to the HELEX TCS company. And that was a really interesting story actually, because the timing of the sale was when TCS was actually about to float to an Ipoh with essentially a penny stock. So a lot of the equity that Jennifer and her husband were about to receive in a new company was just floating, could have gone anywhere. The value of that equity, as she said, was all over the place. So's interesting story to hear about that. We also hear Jennifer talked about Geh, her current project, and how she put together the product how she did her initial website launch and got our first customers and water strategy is around that. So Amazing Story. If you're interested in the cannabis space, if you're interested in building a platform, like a two sided market place, here's an in creating a physical product. Jennifer has done all of this, so you'll find this podcast really interesting. Before you go and listen to that, I want and once again introduce you, if you've never heard her before, to my company, inbox donecom which is the sponsor for today's episode. Inbox done is a service where we provide an inbox manager, or several, to take over replying to your emails for you, whether it's your personal inbox, Your Business Inbox, your stomer service email or your help desk, anything to do with email, managing messages, even social media messages, things going into your instagram ims or twitter DM's or Linkedin DM's, all those kind of places. We can answer those questions for you. So we provide English as a first language, great communicator, so one has been specially trained to manage email. They step in and take over this function for you and or your company and your entire team, as we are working with teams now as well, but more information about that head to inbox. DONECOM now let's get onto the interview with Jennifer Beck. Okay, I'm very excited today to be talking to, well, my first ever guests specializing in the cannabis space, and that's not a topic I've had a lot on my podcast before. So this will be hopefully an enlightening experience for me and and the listeners as well. So I'd like to welcome Jennifer Beck to the show. Hi Jennifer, hi, thank you for having me. So I'm just going to just read off your linkedin pay just a couple of highlights so people can get a brief...

...background of what you've done, and this is how I first found out about you. Actually was as a cofounder of Cannabase, which was acquired by Helix TCS. It's funny, I was as a tea something in most of the cannabist names for the TAC TCS, and currently your cofounder and CEO of Veh if I think I'm saying that right, as well, which you've taken your kind of a skill set and applied it, I'm guessing, to direct to consumer like retail, selling your own products. That you've made. So I'd love to hear more about that. So those are the two main companies I know about. Is any other ones that you've got hidden away that that aren't on the Linkedin page that we should know about? NOPE, cannabase in G here the highlights. Awesome. Okay. Well, if you don't mind, I love doing this in chronological order. So if we could go back in time even before kind of base, where were you born and and did you have any entrepreneurial sort of stories in your teenage years or even before that? Yeah, so I'm a Denver native. I've been here my whole life and I was born in entrepreneur so you know, when I was a kid at home in the summer's, one summer I took every book out of our house and I put little bar codes on the side and I put them all back and I was going to open up the house to the neighborhood and make it a library. My parents, who were furious, they had a bull all the tape off everything. So I've always you know, I had newsletters connecting my neighborhood at ten years old. When I was in college, I was a psychology major and I started a blog called miss morphosis, which chronicled kind of my dating, my growing up and my psychology experience and kind of blending it, and that became a really popular blog, you know as kind of the early days of blogging, and that led me to my first job, which was becoming an online marketing director. Okay, well, you have to tell you more about the blog. Off also started in the blogging space. Well, that's not quite starred, but certainly early days. What year was that blog started? So I was about twenty one and I'm thirty four now, so about thirteen years ago. Okay, so fairly like I started my blog in two thousand and five. So you would have been sort of maybe a couple years after that. So that's definitely early days. Did you see that blog becoming like a business? For you? When you first started, it was more of an experiment, totally an experiment. I read a book, I was so inspired. I want to talk to someone then know how to talk to in Google, to how to start a blog, and miss morphous is just kind of float and it did. But I loved it. I loved learning, I loved to blending the copywriting in the art and kind of learning these early days of you know, online marketing, and there was a really there's still an amazing community, but there was a really amazing community of people kind of pioneering back then that I enjoyed learning from. Yeah, I was a bit of the golden days. Can you remind me again? You were in university. I'm assuming was a psychology given the topic of the blog. Yes, I was a psychology major. Did you expect that to turn into a career type job when you were doing that, or is that more just because that was a topic you know you're interested in? Yes, so mental health is really dear to my heart. I had an eating disorder and high school and in college I thought this as my calling. I'm going to become a psychologist and work with young women, and so miss morphosis was kind of the beginning of me exploring that voice and exploring these different schools of philosophy and understanding what applied to me. But then the blog ended up leading me down a different road. But we have kind of returned to the mental wellness calling now with Gee, which has been an amazing full circle experience. Okay, yeah, Miss Morphous is does sound like you're a superhero with that title. That like it, but can you take this for it? So you have the blog. I'm assuming you graduated and then you got a role in marketing. Is that right? Yeah, so I started working for a Tech Company in downtown Denver. They did a conference, software so APP to help you find your sessions and meet ups, which was all very new at that time, and I took over as the online marketing director there, and that is actually where I'm at. My husband, he was a developer at the company and he hopped in and looked at Miss morphosis and said, oh my gosh, this is a mess. I had like thirty fonts going. I discovered you could have custom fonts. I used every font I liked. You know, it was just really, really unstructured, really wild, and...

...he came in and really dialed in my presence and gave me a lot of tech resources. Okay, I'm curious. You took a job in marketing, yet you were kind of more in wanting to help people with sort of mental health. was there an aspect of the marketing, because I know marketing is is a psychology subject at the end of the day. Did you like making that choice to enter marketing? was there a little bit of old. Maybe the later down the track I will do more the mental health and this obviously will pay my bills right now. Or did you actually see there's a connection some way with the marketing in the mental health? Eventually, it's a great question. So the majority of people that enter the CID D programs, which is what I was looking at, it's around twenty seven. So they usually look for some gap years and you need to, you know, do internships and kind of get ready for that. So in that period of time I needed to work and I loved the work of marketing like I loved the work of Miss Morphosis, you know, the actual physical writing, creating, building and so that I kind of got swept away with that. Okay, so there was the kind of a note even feel like you were betraying your mental health studies in any kind of way entering the road of marketing and as people feel like sales and marketing is kind of ICKY, but I'm glad to hear that might not be the case. Take US forward here. So you're working marketing. That your husband. Your website obviously is well. The fonts are at least starting to look consistent, if nothing else right. Take us for how does kind of US enter the picture here? Is it anywhere on the cards yet, or is that coming further down track? That's coming further down the track. So I ended up kind of moving to a couple different companies as I grew as an online marketer and really craved being out on my own again. I really stopped writing this morphosis when I met my husband. There was a lot of dating and a lot of just me being young and very free on that blog and suddenly there were two of us and he wasn't. He was okay with it, but the idea of sharing both of our story didn't seem as fair. So Miss morphosis kind of started to wind down. I started growing as a marketer and I really craved being on my own. I had a lot of ideas. It's always been a challenge for me to work for a job. And marijuana was about to be legalized in Colorado, so at the time we had a medical market. The recreational market was about to open up and that's when we really got curious about the tech opportunities. Okay, so how do you explore that, given, I'm assuming you say we, it's your husband to given he had a technical background. So you've got that kind of combination of your marketing skill set in his technical background, though you're not technical, given you did build a blog yourself as well, and maybe you can connect the that's two for your husband's side of this. Did He have an entrepreneur back ron like because you for you to to consider starting business yourself? was that daunting or just natural? Like how did it feel? That's a good question. So I'm very high risk taker, entrepreneurial, full of ideas, resilient. By husband's also very resilient, but he's not. He's always pictured himself at a very stable job, but he's younger. So He's three years younger than me. So at the time he was still really young and like whatever, this is really exciting. Might be settling down, but we're you know, I think it was a wild ride for him and he was really gung how about exploring it. So his skills are, you know, deep technical development, backend, front and full stack, and then he's also multimedia web, so he can do design, print, collateral, and then I've got the marketing in the business side. So together we were kind of this this one stop shop. We had a little web agency and we know we did some site. So we had been exploring and I had a friend from high school who owned a successful medical dispensary called Doctor's orders. So I took him out to dinner and said, you know, what do you think are the techniques and the cannabis space? And he said here's what's coming. Right now the market is not vertically integrated. So right now you have growers and you have dispensaries and it's mandatory vertical integration. You have to have both. You have to be both a grower and you have to sell your own stuff with this thirty percent allotment for wholesale. So right now you can mix and match, a little strains or a little overflow, but for the most part you just supply your own product. That mandatory seventy...

...thirty vertical integration is going to be ending this spring. This was around like August. It's going to be ending this spring and all of a sudden we are going to have standalone licenses, there's going to be standal and growers, standalone retailers and this whole some market is going to open up. And at the time everything was done over the phone. It was really like, Hey man, I got a little leftover product. That's really good stuff. Everyone wants it. Here's what it cost, but nobody knew, you know, what is the fair price. It's all happening over the phone. It's all happening through communication. So he said, you know, let's create the first wholesale market place, and that was what we ended up doing. Okay, so now I know. When I was reading this, the description a wholesale market place my mind, having not spend a lot of time in wholesale, I do think of maybe Ali Baba. I don't know if that's a good example of a kind of a market place, and I guess it's wholesale in some regards. You're going direct to China. Was Your Vision? kind of a peer to peer market place where we provide the platform and then the growers will come to it, the buyers will come to it and we be the Ebay or the Amazon or whatever, the middle person of that. Is there more to it than that? Certainly when you were thinking about at the beginning, that was very much it. And you know we were huge proponents of the lean start of philosophy. So we get an MVP out there, the minimum viable product and then we're going to iterate you. Our whole emphasis was on scalable, iterative technology that we can move as the market. Of all, because the cone of Uncertain D was deep at the time. You don't know where things are going legislatively and you don't know where you're necessarily going to find the most revenue. Obviously the best outcome would be that we can take a cut off everything that moves through the system, but that's a non license business. That was not legal and it's still isn't legal. You're also dealing with a lot of restrictions in terms of payment processing. So they're just being able to say, move the payment through us like a shopify and then we take our two percent and you pay your payment processor. That's really where the big opportunities were with Canabase, but because of financial restrictions, were not available to us. So what we saw as the present day need was let's create kind of an Ebay Ali Baba community and we can create. First of all, we bring this compliance element, because you really want to be sure these were this was right after the Silk Road, you know, the dark web stuff had been kind of had happened and had been exposed and it we were really sensitive to we want to be sure anyone that's transacting on our platform is supposed to be here and we're not facilitating illegal transactions. So a lot of our business was about the compliance and managing the database and the licensing infrastructure and making sure those rules and permissions were really, really tight and connected to the state, connected to the licenses as they moved with the state. And then another big piece was data transparency, so showing what is the average price in the market, how much our listings being viewed, how many connections are happening over those listings? Where is there really supply and demand? Now it was US kind of moving it out of this phone call environment into this transparent market place. And where is your actual like? What are you making money from in all of that? The start, because, you said, is really challenging, we made a lot of money in advertising. So we set up store fronts, especially for the MIPS. So mips are the infused products manufacturers. There's three license types. You have the growers, you have the retailers and you have the MIPS, who are making infused products, and the infused product manufacturers are the ones that are creating brands that can go to every store. So it's really different than wholesaling flower, where if you wholesale flower there are some shops that will keep your label on it, but for the most part shops are going to white label and say this is all our stuff. They're not going to give credit back to the grower. But with the mips and these branded edible products, you saw people creating brands that really had fallings across the state and then eventually those were the first brands to really go nationwide through different licensing models. So helping the MIPS advertise to all these licensees, these retailers, and then help them source their products through the growers was a...

...huge space for us. As well as servicing the antlery community, the answer community are non license businesses who service the license businesses, so payment processing, banking, compliance, consulting, legal grow equipment, anybody that serves is the legal cannabs industry. We had the decision makers on and engaging and it was a really targeted platform. Okay, so you would have like a sponsored post stereo or like a highlighted person organization within the market place and they would be paying money for that kind of highlight or even, I'm correct, if I'm wrong, you might have had like a newsletter as well that would have gone out and you would have promoted someone in that. I'm kind of thinking back to like traditional publishing models, basically when you monetize with advertising. Is that? Am I on the right track there? Yeah, so when you had the ability for businesses to promote their posts, kind of bump them for those one time fees or by packages, by employee packages, we had actual like catalogs that were really interactive with video polls, giveaways, pictures that the anslerry service providers could purchase and could use those to engage very strong email marketing, because we utilized email marketing to share pricing data. So every week we report canalytics. Canalytics was a phrase week coined and every week we would report canalytics to the market. So we had really high engagement rates with our newsletters. So it was just all of those kind of combined that created our our revenue streams. Yeah, that's interesting. Was the plan that from the start to be such a publishing kind of model, or did you actually think poventually we would be, you know, taking a cut of transactions or facilitating some part of the value chain that you're taking, you know, a part of your doing it for them and charging a fee for it. Was that in your mind? That was always the vision. You know, we hoped that legislation would progress much sooner than it did and and actually still haven't. We still haven't had banking reform. We're still waiting for that. So that would ended up being a huge, huge challenge of the business. And another challenge of the business that we didn't understand going into it. No one knew, it was all brand new, is how tight the margins are for license cannabis businesses. So, you know, we have kind of this impression that the dispensaries and the growers are just rolling and we've money, you know, and numbers are up, everyone's spoken by the quarantine, everyone's making a lot of money. It's actually not really the way it goes. There's two main reasons. One is that there's a lot of licensing and compliance fees that go into being one of these regulated businesses. They're heavily regulated, so you've got all your startup costs and then you have all these licensing fees and then there's this law called to a tee, which most people aren't familiar with, and it's from the war on drugs and it basically states that if your business is selling a federally illegal substance, you can't deduct your business expenses, and so right it changes everything. That's why we were and still are so passionate about banking reform and legalization. I don't know if to et will ever be overturned without legalization and I don't know if they want it to be overturned because it's where they're making. The government's making a lot of money. So licensed canvas businesses are tax on their growth rather than their net and so when you have this to Adee, in addition to all this compliance, in addition to being a startup, you have a lot, especially in the early days when you had way more mom and pops. Now we have more of these multi state operators and the publicly traded companies, and then with all the banking restrictions, there's no access to capital and loans. So it's a stretched community more than you'd think. We did try a couple things like working with a bitcoin company and a grading like this bitcoin thing that would allow people to transfer payments online. Right now it's all cash because of the lack of banking reform and hoping that that might work, and we take a couple percent off the top for facilitating the payment online through this bitcoin stitcher Roue. That happened in the middle, and I mean we had some of our our biggest spenders, the guys that paid...

...for advertising, no questions ask you know, promoted every post like guys that were really, really passionate about using the platform. And one of these guys came back and he said, you know, I would rather count Twentyzero in ones then pay an extra two percent. We don't have it. I mean so it really showed us that this is going to be a long road till it's making back fills, doing map wow, okay, well, yeah, it's interesting. I read, I think it's the billion dollar something like a hearing Canada'n from Montreal, and I think it's Hexo Corpse, right, the author and who's company, and that book, much like you're saying now, is constantly talking about changing legislation and rules regarding everything from packaging to sourcing, to farming licenses to how you advertise. It's just like such a constantly evolving industries. I can see why you two made the choice to focus more on a platform that services rather than becoming an actual service provider, because at least you don't have to deal with quite as much. I mean, you're still in the industry, but you're not worrying about anything more than a technical side of this, which actually I'd love to talk a little bit more about now I understand your platform now, what you were doing and given it's a two sided platform and you were monetizing with all these kind of exposure points for your audience. You have to have an audience for that to be a value to anyone. So, and it's two sided. So you have to find the suppliers and the people who want to buy, or the people who want to pay attention to the people who have something to offer. How did you start that process? And I know you're the marketing brain of this equation to so what was your thinking right from Day One? What do we do? Get the supply side first and then find the audience for it, or what was your thinking? Yeah, anytime you have the these marketplace ideas, it is a chicken and egg and you have to get it off the ground before it starts to move. So engagement was our number one metric. You know, how many people are logging on? How many actions are they taking? And from day one we were building relationships with the growers. We needed to have product available. You know, we went live in January knowing that vertical integration was coming, it was ending, mandatory vertical connegication was ending the end of spring. So we had a little bit of this ramp up period where we could kind of say, are you ready? You know, we have product for you. People didn't know if there was going to be a shortage. There are all these questions and so we spent the first six months really building our growers, building our image. I remember we sent on our first news letter like we have a hundred pounds and it was like we're flush, you know, but eventually have thousands and thousands and thousands of pounds on the platform and then it was about you know, you really think you know what it comes down to it. You end up building these companies, especially in tech, you think we're going to scale and everything is systems and funnels and, especially coming from Web Marketing, you know everything. The perfect funnel will crack any code, and it will. But you really do build it one relationship at a time and you know, one very meaningful relationship at a time. So we built very strong relationships with our growers and then very strong relationship with our retailers, and then I became very involved in the community. I was the vice chair of the Cardo Cannabis Chamber of Commerce. I was the only ancillary business on the board too. Are working with all licensees and it was our mission to support the licensees in representing them on a legislative level, advocating for their needs, advocating for their profitability, advocating for their safety and supporting their businesses. And we had to just really really become their champions to earn their trust and to build that engagement. So you must have spend a lot of time in person and on the phone. For a text start up, you would have been like very, very facetoface. Oh, the hours were insane. Yeah, I mean we never left that office before ten o'clock. We worked, you know, I didn't have a kit and now I have a four year old. At the time I didn't. You know, we worked from eight am to midnight every single day and I was in tons of meetings, always meeting with people, always meeting with investors. We had a very big team and then at night I did like to really get involved in...

...the actual development and that was the beauty of having my husband running the development side, as we were really close. We called it flowing. We would flow through the APP all the time. So how many actions does it take me to get from here to here? Where does it get confusing, where does it break? And we were just constantly flowing because there's all these permutations of experiences depending on who's viewing the APP, what type of we had all these different user experiences and that was one of my absolute favorite parts. But yes, it was about constant feedback and that dative model. Than iterating on that feedback now. You mentioned investment. Did you get investors from day one or that come later on? Yeah, so we raised money right at the very beginning. We had it ended up being Josh, the one who owned doctor's orders and came up with the idea, and then we had another silent partner. So we did raise money to get off the ground and then we continued building relationships with investors until we actually found the person that we decided to sell to. So when you're raising for this kind of space, is it difficult to raise funding and ask that knowing, like you said before, the banking side of it is difficult and having read this book before, I remember they were also having trouble getting traditional financing. So at any point in time during, you know, your process of raising money, did you have to like I'm guessing it's always within the cannavas space. You're almost raising always from other players in the space. Is that accurate? Yeah, it's always, you know, family offices in De pendantly wealthy individuals. There aren't. There are some institutions that touch it, but largely they don't, you know, and that's the same situation we still have with thanks. There's limited banking. So it's a lot of meetings, you know, just like anyone who needs to be constantly raising money, you're constantly asking answering a lot of questions why, people who are very curious about this big industry and and then just generating those relationships and hoping that they're available when you need them. But it's it is challenging and you really are staying with family officers and private investors. Yeah, I know. I've listened to a lot of podcast with like DC's and angels and and some of them have a blanket policy like no sex, no drugs, and we tends to fall into that. So therefore they don't back anything to do with cannabis, even a platform like yours, which is not actually doing the selling, you're just doing the matchmaking. So extra challenge. Can we go back to the growth of the company. So you're doing all this work to get this supply side. How long did it take you to reach the point where you're actually making, and maybe you can do it in like chronological order, making a full time living, because you must have been working a job, I'm assuming, while you two are building this at nights, or do you soon as you get the invested money you quit everything you were doing elsewhere? How did that growth phase go financially for you too? Yeah, so financially it was a really good time in the market. You know, a lot of this stuff is all about timing. So it was the opposite of a pandemic. It was cannabis market was flying high and the regular market was doing really well. So we were actually able to secure a very large investment before we even went live. So we weren't working and we launched with a team, so we launched full speed ahead. It was just one of those very fortunate divine timing situations and we were able to put everything into it and we continued growing the platform for about three years until we sold. Okay. So that's an interesting because in that case you're doing that not from a place where, okay, we need to make tenzero a month to pay our bills. It's more of we have a much money. This one's runway from our investors. Usually it's like eighteen months to survive to the next raising of funding and then during the eighteen months you have to double, double, triple or something like that in terms of your overall growth. You don't have to be profitable yet. Like I know, before we hit the record button, we talked about sharing numbers and what you're comfortable with. I'm kind of curious, especially consume. You sold so quickly. Like three years is a fairly I mean, it's not that on common nowadays, I think, but still it is from zero to three years later. Exiting a company is a wild three years. Can you maybe take us through each of the stages of growth in terms of okay, so we raise this big amount of money,...

...we launched the service. Do you go from zero to transacting millions of dollars in deals on the platform within a month, a year, like, what was that growth for the company in terms of what it actually did? So the company and never made that kind of money. I mean it was always making advertising dollars. mean. Sorry, just to clarify me. Like how much was being transacted on the platform, not you actually making the money, but between the buyers and the sellers. Oh, that is such a good question and the truth is I don't remember. I'd have to look back at it, at how much was moving per month. There's about five years ago now, but I could look back and I could try and find out some numbers. Three in terms of how much was moving on the platform. And some of it that here's but a lot of it. Here's a lot of it, here's a lot of why it's fuzzy is because we don't always know, because we weren't transacting the payments right. So a lot of what we had was a lot of listed. We had a hundred thousands of pounds that were listed and then we're the listings were moving and they were connecting, but actually what those that final price data, what it transacted for, getting that final feedback. We had the mechanisms for that reporting so that businesses could download that and have that, but they didn't have to share that with us. They would take those connections and move off the platform. So that's why I don't know, because we didn't know. We just knew how many businesses were engaging, how many employees were using it, how much was being on at any given time, and the goal was really what it was about. You know, we were supporting the team with advertising dollars, but really what it was about was the value of these users. We had a really, really targeted user base of licensee business owners and that was valuable as part of a technology ecosystem. So in cannabis you have to have the plant tracked from seed to sale, at every stage of the plant's life cycle. So the government knows, based on these RFID tags, this seedling is in this room at this stage and it's this whatever, and that happens through a point of sale system, and so the point of sale system, integrating that point of sale and at RFID government tracker into cannabase and having all of these business owners using these synced up systems. That was where it needed to go. It needed to have that kind of relationship and that was the kind of technology company we sold it up into. So it was left at out saying this has reached its Max potential, there's nothing left for us here, we're going to exit. It was much more about taking it and spinning it up into an area where our user base was so valuable. Our Technology was incredibly clean, incredibly easy to manipulate and work with, and we were able to spin it up into a bigger technology suite that can now support all these systems, grow at a faster rate and then hope eventually that, you know, they were able to charge more of a subscription and then hope that eventually the payment processing would open up and there could be a cut. And that's kind of the life cycle. So we sold it at a very early stage in the life cycle of the business, okay, and that's what Helex TCS kind of were doing and aiming to continue to do. All those elements you're talking about. Can you tell me, in your three you've talked about how you had a vision kind of at the star about potentially, once the legislation opened up, taking parts of the transaction, which never has happened so far. So that obviously, I guess, as of the years went by, even it was only three years you were thinking, we don't know and this is going to happen, so we can't base our decision making on that. We're doing really well with being a platform and monetizing our audience as a kind of a publishing platform and, like you said, we have a very high value stakeholder, the people paying attention to our platform, our decision makers within the industry. Can you take me through the period when the acquisition happened? Was that a...

...case of you, like them, approaching you out of the blue, or you starting to think maybe we do want to exit, or just, you know, kind of the magic of meeting the right people at the right time? Like, how did it all go down? Yeah, one relationship at a time. So we reach out to Helix, Helix, TCS, met, helix technology compliance security. So their vision was to house all of these key ans lerry services under one roof and we had been meeting with them. They were really interested in the technology side. They were deal guys and they had a lot of access to capital and their background was in emerging markets and mergers and acquisition. So Ma and emerging markets and growing businesses through Ma, and that was really their strategy. So their strategy was to go public early on so that they could use the stock is capital for mergers, which is are an acquisitions, which is basically what's happened throughout the cannabis space. Because you don't have access traditional capital. You have all these small companies that are doing interesting things, but it's a still small market. So a lot of the power is held in the publicly traded side. That's where a lot of the companies just that's the vehicle for investment and it's the vehicle for acquisitions, and so it really all happens there. So I went to them because we wanted to. I was involved in the advocacy for courier allowing outside courier services. At the time you had to have a license to drive the product. So we did a wholesale deal between a grower and a dispensary. We couldn't deliver the product because it couldn't leave a license the's hands, and so you have these like ninety five pound bud tenders, these girls, throwing, you know, huge bags of weed into their car and driving it sometimes hours, you know, up to the mountains. It was and still is incredibly, incredibly unsafe and incredibly dangerous and carying all the cash then bringing the cash back. So we're advocating for curier services to be allowed. That was about to go through and we wanted to be involved in the early stages of that. So reached out to Helix CCS, who had a big security arm and had cars, the insurance, you know, all of that bricks and mortar pieces that you would need to implement that, and we started meeting with them about sinking up on integrated deliveries and that was when the conversation began. They were just about to go public and so it was a little bit was a huge leap of faith on our part because we had no idea where this petty stock was going to go. But Zach, the person who ran it, was he's incredibly dynamic, incredibly smart, incredibly quite a visionary, and he was working on a deal as well with biotrack THC, which is the largest point of sale company in the market and really runs the analytics that, you know, all the analogs cross the country and the compliance. So he had this vision of bringing us all together, but it needed to start with a cannabase arm. So That's when we were folded in with them. So how does that play out? These they say we want to acquire you and you say, okay, let's talk about numbers. Is As simple as that? Basically, yeah, it was, he said. You know, we were at a stage where we really either needed to raise. We needed to raise we needed money. So we were been looking at a couple different investment deals, but they were complicated. They were complicated because we you know, every it's just negotiating the deal. Some people wanted more equity. They didn't know. We want to be nondeluted. Other current investors we had weren't agreeing with that, and then so these other guys were going to walk away. And so we had about two or three of these deals on the table where I couldn't get everyone to agree on a path. We had one investor that was really early on and he was looking to do new things and needed some liquidity, and so he was blocking some of our other options. So we were in kind of this tight space and when Zack showed up and said, listen, we could fold you in, we can support all your employees, we can provide you with these integrations that you really need. We're raising a lot of money. We have access to capital, you can grow how you need to grow and and now you, through the stock, will have liquidity. So it's an exit. You know that you can choose when you exit. You're...

...still on this road as long as you want to be part of it, but when you're ready to exit, you and your investors have liquidity. And so it took us, you know, six months to get to a deal, but everyone was really happy in the end with how it worked out. Okay, so that means it wasn't like an all equity deal at that time. Know, there was cash. There was the cash that went to the investors, debt got paid off, employees were hired and then, for my husband and I, we were the ones that took mostly equity and we took a lot of equity. But that ended up working because the cannabis stock market went way up. The choice it was. I mean, it's been a gamble. It's been a roller coaster the whole way. But yes, is it possible to put in like a number on this? I know there's lots of stakeholders. You're getting rid of some investors. You two are coming on as equity holders, but could you value cannonbase at a number when it was folded in at that time. That would be really hard because so much of it was equity that swung so wildly. So you know how much what you know? We took the exact day versus a year later, what it was worth and what it was. You know what that was worth all of us. It was a seven figure acquisition all in and we did really well with it. But it was a high risk acquisition because when they took us on they had just gone public. So we ended up getting, you know, millions of shares, millions and millions or shares at twenty cents a share and then those shares went to three dollars a share and so and then they been, you know, they've been vacillating wildly and we still hold some of them. So he looks ended up then merging with Biotrack, THC, this largest point of sale system, and then actually got swallowed up by a bigger company named for and. So now it's on the NAVSDAG and it's a company called Corey and and the how the shares work have changed, but now it's a thirteen dollar share stock. I'm an as DEC so it's really it's a roller coaster and a lot of the companies in our space have that trajectory. It's mergers, its acquisitions. That's moving, it's changing, it's just happening really fast and you're trying to enter and kind of keep up. Yeah, it's it does seem like an unusually wild space to be in, even just like you can't have a courier move your product because there weren't licenses to do something like that. I don't even think you know second guess. So I'm going to sell anything. I just you know, ups whatever will take it. But it's not so simple when the kind of a space. Before we leave this acquisition story, I just would love to know from your personal perspective, with you and your husband, when it came to selling your company and taking mostly equity to in a penny stock, as you said, which is like, potentially you might be trading your whole company for nothing at the end of the day, you are really sure what was the like the emotional decision around that, like, will you hoping this would be like get you retirement money one day? Or, I'm guessing because you decide to stay on and keep working with the company, you did see your future still doing the same thing on some level. It just would be for another company that owns your company, because you didn't sell to like kind of leave completely and, you know, go see it on the beach or something like that. There was still something you wanted to do. So what was the mindset for you too, and we're there, Laur, conversations this you to as a couple of deciding what to do with essentially your baby at that time? Yeah, it was challenging, but we very much saw as a next step and a growth opportunity. You know, it was an amazing team that was running the company that was buying us with a lot of experience, a lot of access to capital, things that were challenging in this space and canvas was expensive. They needed money and needed integrations and needed things that this could give it really, really quickly and really well and a rapidly developing space. You know, I don't think. I think in one sense, part of us has like never fully exited. We've been on this ride for ten years now and we're kind of still on it. You know, we raised a bunch of money, we started cannabase, we moved cannabase to its next step, we took a bunch of equity. We worked for them, we were able to we eventually did have to leave so that we could open up our ability to sell some stock. As long as we're working there, we were insiders, which made it...

...really, really, really challenging to sell. So we work there for about a year and then left and then came back and kept coming back a little bit. I really enjoyed the team. I really enjoyed the new companies that cannabase was growing into. We had a lot still to offer, but it was really challenging to continue to exit when we were in the company. So that became a dance that went on for a couple of years and then we've moved now into the CBD space and we still own a lot of pot stocks. We're still pretty heavily invested in the pot stock space, which vacillates really, really wildly. So part of me sees us is still on this cannabis ride that we've just managed to turn into this very interesting career. Yeah, I guess you didn't see that coming when you were running your blog or even before that, setting psychology and mental health. So, although I know there's some overlap, as we're going to hear with Gee he your next company? But before I ask you about that, this show is called best in capital and frequently, like yourself, I have guests who have had some kind of exit from selling a business and I'm always curious what you do with that money in terms of investing. You said you work for the company, but you had to what you decide to quit, because then you could actually sell some of your stocks and, you know, get some liquidity. I'm open to whatever transparency you like here. Every guest is different and what they talked about with investing. But once you were able to sell some stock, is that a case of like, let's just buy the house. We've have our own house and some other people like let's buy a cryptocurrency? I mean you're ready in a volatile industry with pot stock, so I'm not sure where you want to add another volatile asset class here investing. But could you maybe anything you want to share around what you did with the money? Yeah, so we did put a lot into our house, a lot into our living a lot into our infrastructure. That was really good. Made a lot of things off and upgraded our lifestyle, which was a fantastic and we did move. So a lot of it was moving out of the we were heavily invested in Helix. So taking that and just diversifying into a broader stock portfolio. We weren't ready necessarily to sell completely. We were kind of that mill ground. We wanted to just but we found some other companies in the industry we're interested in and then some companies outside and we diversified our portfolio and then we used a cash investment to start ge, which has been fantastic because we own a hundred percent of it, which is really exciting for us. You know, at some point we'd like to raise but to be able to have the runway, the equity and the ability this time to give a little more in terms of Sweat Equity Advisory Boards. We were. You know, the downside of raising a lot of money in the beginning is you have a lot of vested interests and people that need to be paid back from day one. And then a start up, especially the kind of start of culture we really enjoyed building, there's a lot of people that have to show up to make that happen every day and that have to really believe in it, because there is especially like in this industry. There's so much uncertainty. It's changing every day, you're always you need people that are resilient and flexible and creative and aren't searching for just stability. So that same personality is searching to be part of it and to be part of the exit. And it was very challenging for us, with these investors in from day one, to do that, to divvy up stock to employees, to bring on an advisory board. It was already a lot of people kind of fighting for the equity from day one. So having Gee free and clear owned a hundred percent, with its runway in the bank, a diversified stock portfolio, the house, the infrastructure, you know, and then putting some in the bank kind of you know, it took care of it. And then there's we still we still have quite a bit of sack we haven't sold. So I'd say, though, we're still very much on the ride, because we did put a lot of it into starting Kiki and doing the next thing and and seeing where that would take us. Yeah, well, I'll tell you more about that. So I'm a little surprised, to be honest. After you would have been exposed to the hassles and their challenges in the cannabis space as a actual retailer or distributor, not just a platform for I get you correct me from wrong. Decide to go and make your own products in this space. So what led to that decision?...

Yeah, so, and we did get into CBD. So CBD is a little bit different than cannabis. They come from the same plant, but CBD is extracted from what's classified as the hemp plant, which has less than two percent THC, so or point two percent, TC. So you're looking at really, really, really low THC levels. You're looking at this is industrial hemp and it does not have the licensing requirements that cannabis has. So we don't have to have a license, we don't have to have our I fid tracking, we can sell across state lines, we have much more generous access to banking. That said, there are still a lot of the same challenges. We don't have access to advertising and the same way traditional company does. We deal with much higher rates everywhere. We're considered a high risk, you know, payment processor. So it's five percent instead of two percent. You're still dealing. We would still benefit greatly from cannabis reform, but it is much more open and available. So it's a little bit different and we decided to move into CBD because of our experience in cannabase and watching the supply chain and watching the products people were producing. We saw this flood of businesses, people starting CBD companies, and the majority of them were two things. One, there's all white labeled, so couple major manufacturers producing lotions Gel capsules, pet treats, whatever it is, and these thousands of companies popping up, but they're all buying the same products and putting their label on them and it's just who they get to market the fastest with the most CBD in their products. And we didn't, with our experience and advocacy and with the plant and having been in the space for so long, we didn't think that was the future at all. It's not about how many milligrams of CBD can I shove into a cheap lotion. It's about really effective, synergistic products that use CBD as a hero ingredient, but it needs to be complimented. The rest of the product needs to also be really strong and what we also saw was that statistically, the majority of CBD users are still in their young twenties. Their cannabis consumers, their liberal. It's an extension of the cannabis community and that are a liberal community. But really who benefits from CBD is a more aging audience. That Middle Age demographic three thousand two hundred and fifty five isn't as tapped into, we believe, from the CBD market, and that's the consumer that has, first of all, the disposable income, but also has the needs it. So people seek out CBD for, you know, pain. Really, if they seek it out for because they're feeling anxious, they're not sleeping, fine lines and wrinkles when it's used topically, increasing skin cell turnover. These are all benefits we see as we begin to age and none of these issues, we believe we're tackled as well. And these white labeled, mass produced products. So that was your goal? To produce your own and sell directly, all white label to anyone else. Exactly. Okay. So how do you do that? You obviously you how to source materials, but you have to get into your own little lab and start testing and making your own product first and then move to selling it from there. Yeah, yeah, so, you know, spent time finding the highest quality cbd producers we could find. We knew from the marijuana space that it's very dangerous to extract lazily. So in marijuana you extract the Tahc from the plant, you can make gummies, you can make edibles, but if you're extracting and the plant has a bunch of pesticides or chemicals on it, you're extracting that as well and that can create these products that if people headaches and if people feel sick. So it's a lot of it comes down to purity and quality. So first it's finding the right growers and producers on that side and then we worked with an amazing lab. We spent two years building these formulations. So we have three hero products, a face hereum body bomb and then a sleep tincture, which we believe together really nourish all the layers of the endocannabinoid system and deal with the main reasons people seek out these solutions. So we worked with building these real effective, clean, synergistic formulations with other hero ingredients. Clean, Vegan, everything you'd expect from a really high quality product. And thinking...

...about you know you're going to a woman in her S who's interested in trying out CBD for fine lines and wrinkles and making your face really younger. It needs to be a really incredible serum that and her astetition or her dermatologist would recommend. So it was beginning to look at the products from that perspective. So we spent two years with the lab are and Ding formulations and really getting the product styled in and then we work with a contract manufacture. We did all the packaging and house, the website, all those pieces and went to market in January of this year, of this year. Oh, talking to you when it's also fresh. Yes, how's it going? So far? Very well. It was interesting watching into the pandemic. You know, when we talked about cannabase, it was about being in meetings all the time and the beauty of those meetings is the constant feedback. You really can see you're selling all day and you can see when people start looking around and you can see when people go away. You know, you can see these questions and that is, to me, the energy, the thing that feeds the business is the questions and the feedback. And now you know where to focus, somewhere to channel your energy. And with Gee we launched into this pandemic. And so there was in the beginning very little feedback. It was a lot of just us putting things out there and then trying to understand where the orders are coming from and what's tying them and what parts of the message are resonating and dialing it in, and that was at that most challenging piece. But as things have started to open up, the brand's gotten really tight. Now we're moving into a scaling phase and we've had a lot of interest by some incredible high end retailers. So we're beginning to move into that deeper place of scaling, both in the retail space also direct a consumer launching subscriptions, building our team. We're finally hiring. I've put up a job posting for Social Medium Manager, just twenty hours a week. We got five hundred applicants in two days. It's been it's been wild. So the energy now around having the dialed in brand and scaling it is there and now we're on that adventure. It's a lot of applicants, five hundred. Tell me, for someone who M I've even listened to this too, is thinking I want to get into the Canadas space and even just from your recent experience, which e. he, how do you do an MVP in this space, not the side. I can understand what based on what you just said, the testing, the laboratory, coming up with your actual product. That in itself is a job and you know you have to do that. But once you've done that, you've got your first product. It's packaged, it's got a brand and label, it's ready to go. But you said this some challenges with everything from advertising to paying a higher price on the transaction fees. How do you MVP selling a CBD product online, which, I know it sounds funny, but I feel like it's also competitive now there's quite a few CBD products for sale. I'm just thinking back clear random but I was in Croatia two years ago and I'm just at a local market and as people selling CBD oil is just at that market there too, so it's certainly not an unknown product category now. So how do you MVP, or how did you MVP with G he purely online or offline or both? That's a great question. Yeah, and the competition's enormous. That's the most challenging part. I wouldn't say that the competition is the most challenging part, because you still have to create a product that's very unique and our products are very unique and have very unique selling propositions. But because there's so many, so much cbd out there, there is a wall. You know, the minute nobody's excited about the idea of talking about CBD or like you're not going to get a bunch of press coverage because you started a CBD company. I mean it's just not interesting. So I think the biggest challenge is creating the brand that's multidimensional and really selling the products outside of the CBD. But then you still have to really educate on the CBD. It's a complicated sales puzzle and a marketing puzzle and it is about getting yourself kind of out of that pack and out of that conversation as CBD, Gold Russian and focusing on what the products are. So that is a definitely a challenge. In terms of Mvping, I mean you can't do the same as you can with technology, which is the beauty of building a tech company. You know you can build a few features and get people using it and say where do we go from here? And you don't have this...

...inventory sitting in a warehouse that needs to be moved. So there's this different it's a different dynamic. There's also a lot of room to iterate everything outside of that product. So you're stuck with your packaging, your stuff, with your formulations. Are Stuck with that commitment. In terms of distribution channels. You know, we've spent a lot of time launching a very base, sick brand ambassador program so somebody gets a discount and then they can have a referral link. We had a lot of success with our brand ambassador program it brought in a lot of revenue. So now, how can we scale that? What? There are so many models now above commission structures. Were looking at professional ambassadors versus, you know, a customer ambassador and then moving in subscriptions and others, recurring revenue. Has that recurring revenue impact the ambassador program there's still a lot of room for iteration, especially because I do have chase and we do have this technology side where we can spin up and connect solutions and a really strong way. So you're you know, you're stuck in certain ways, but there's also there's also something really beautiful about having a physical product that does have a barriered entry in a way that I remember with cannabase. Everything was proprietary, everything was the technology was really beautiful and really scalable and really flexible, and then you'd get somebody coming out of the wood works with a really fancy work press site. And this happened a couple times and you'd be in conversations with investors and they would get in the middle and start saying, well, we've got it too, and it really making a lot of noise and you know we're going to be bigger than them and you try explain like the technology they won't be here. But you there's no bared entry. Anybody wants to spend up a work press site and make it look good can come in and say they're a competitor and really challenge or relationships with press customers investors with a product there at some point. There is an amount of capital that goes into the formulations, the ingredients of the warehousing, but all of it there's a leak at a little room there, and then it's about iterating the rest. Yeah, and I can imagine the branding side of it really comes down to it as well, and the product itself of course. Why you was saying all that, I was thinking, so if I create my own product and assuming I like it. Can I just get a shopify store, find an influencer on Instagram, give them a free sample of my product, get them to be an INBASSADOR, pay or for row commission and a way I go. Is that? Is it a simple is that for if I I know? Maybe, yeah, I'm getting a guess here. Yeah, it is that simple. I mean the Internet's amazing. I mean it is amazing. It's amazing. You know how accessible it is to spend something off the ground and reach a lot of people. So yeah, I mean you'd need it would be a lot easier if you're not selling CBD. So, for instance, payment is shopify really favors vendors who use their payment processing. So you get the lowest rate, you get subscription hookups, you get all these pieces and shopify, if you use shop by payment processing, they won't work with us because we're CBD. So now we have to find a high risk payment processor. And for us to release subscriptions we need to do some really fancy custom microsites, the headless microsite plugin kind of staff where it's off our primary commerce. There's a lot of sophisticated tech that has to happen for us to move around our barriers, which is why, in a sense, even though we have all our product like our first, you know line of products, we're still envping it and building that, it were, expanding the technological ecosystem, which is really a lot of our strategy and our edge. But if you're selling anything, if you're selling a widget, yes, you can create a shopify store, you can put up your widget, you can apply for shopify payments, you can go find an influencer, send I'm your widget. And now it's just about traffic. It's about, you know, getting your story out there and brand awareness, because the bared entry for creating a brand is so low that there is a lot of noise and I'm guessing what I've what we've just described, is what you're up against for the months and years ahead. You're just going to be testing traffic sources, creating new...

...product, seeing what converts the US, what drives the most customers, building some brand loyalty, getting those subscription customers on there. Where does the vision go? Is this a case of potentially having an exit as well? You are, as you said, a hundred percent owners. It's all your own equity so far in the company. So where's Geez I'm saying that right again, I got yeah, so tg going in the future? Yeah, so we hope to grow for a long time. We are looking at a lot of different distribution channels we'd like to keep pursuing. So we have our direct to consumer, which we want to grow that brand loyalty through subscriptions and a very sophisticated customer journey and community journey to build that director consumer relationship where, you know, we have the best margins and we also have the best, I want to say the best control. There's a huge education component to CBD. There's a wellness come and at, a lifestyle component, and the more we can communicate with someone and create buy in there, we really create that brand loyalty and again, it's our highest margin. So continuing to develop that side of the business is ongoing. We also sell to spas and Salon's because of the formulations, and acupuncture offices. So we have a professional program where we're looking how do we be building relationships with people at these spas, salons acupuncture offices, getting them using it in the treatment rooms and building out more skews for them that complement the products when they're selling it. And that channel and then our third channel is high end retail. So we have retail sales fires we're working with, we're working at contracts for bigger distribution there. That is the lowest margin but of course provide the most brand credibility and then also allows us to tap into new audiences really quickly and grow our volume numbers. So they all have difference, different pieces. It's a multichannel strategy. They each have important pieces and they each have different products that they require US building out. So we're in R and D and kind of these three different segments right now, because we're finding our director consumer business is much heavier on the reverie, the Tincture, which people just buy and use and buying news and buying news, versus a retailer. Most retailers, because they don't have high res payment processing, don't want to touch anything oral. They just want to use topical products. So our retailers and then the more personal care side is much stronger on our topical offerings. So we have kind of this functional wellness, strict to consumer branch for building, as well as this high end resort spots side and then the retailer channel, and they all require different products and different strategies and interesting. You sounds like you so know this space so well, Jennifer. I can just telling then your and obviously we're excited about it. Maybe last question before we wrap it up. All the way back in the start of this story we talked about mental health and you know your original studies and your blog topic and I felt like at that stage there was a sense of a connection to ze he at the moment, with the sense that it is about wellbeing. Can you maybe touch on that a little bit, like how much is the product itself that? I didn't even ask you. What is Geez products beside? I know it's CBD and its topical and Oral, but is there a connection there to a mental health like? Is it designed to deal with anxiety, depression, any other kind of mental illnesses? Like where is the overlap? Absolutely so. CBDS, an ingredient, really helps our body come into balance and come into alignment, and the topicals work different than the oral but together that is what the products are about and they're also very deep selfcare products in terms of rest, rejuvenation, relaxation. We have a whole wellness philosophy at gee called self centered wellness. It's about coming within it's about. We have meditations, we offer bullet journaling, we have lots of resources, we have a private facebook community. So that's really where our heart is. As products in mass retail, when we sell online, we tend to fall into this beauty category, but I see us as very different than a beauty brand that ask people to kind of cover up, shrink look like this thing. Gee He and CBD as an ingredient are so much more about finding our balance, our truth and using that as a source of power and performance. So we really love working with athletes, high performing individuals,...

...people that aren't sleeping, neither body to feel good and bringing back that wellness component and making gee he about my body soul. Performance has been really our biggest differentiator and where the brand has found so much energy in the community. HMM, yeah, that's great. I've use a little bit myself and I know some people who definitely benefited from it too, from the like the helping sleep. If just as simple as that, Jennifer, maybe this should be the last question then. For anyone who's listened into your story, it's it is interesting because of your background, maybe not technical, but then became technical through blogging and then, through your husband, very technically, your first platform was a platform that was technical, you know, building a platform to connect suppliers and buyers hemp and weed and Mariana products. To then now, very much a very like a physical product or actually, you know, creating something and selling it. You've gone across the whole range of different kind of industries and careers almost in some ways, to from also working within another company, starting your own with backers, to starting your own a hundred percent with your own capital. If there are, as there are many people listening to this who are entrepreneurs, now that you've had that experience, what would you advise them in terms of getting started with their first project? Do you think it's best to start with something that is physical with no investors, or go digital and get investors? What do you think is the best combination for a day one founder, if there is an answer for that? I don't know there's an answer to that. I think. I think it's about very much surrendering to the journey. You know, in your first start of it's all about keeping your overhead really low. I was really grateful. We were really young. We didn't take a paycheck for a long time. I mean there was a point with cannabase wherestled my car and I was like great, we got two months living in the bank. I mean we put everything into Canna base and the hours were really, really extreme, and that was also part of that tech environment. You know, in the tech environment you can you have people that can work around the clock and can just build, and so you have to be keeping up with that, which is a very different pace than having a physical business. Physical business has been much slower. You know, you're working with a retailer your weeks and between conversations and but then things move. You know, then all of a sudden order comes through and you you move a lot of products. So they're very different paces. I think it's about looking at your stage in life and how much you have, what kind of a life you want to live. A physical product for us has been much more it's worked better with we have a young daughter. We have a little bit more balanced we're living more of that GE lifestyle. I don't know if I could do what I did with the Tech Company today, even just a thirty four compared to twenty four. I had a lot of different kind of energy. So but there's so much beauty to just that that leans start up model, getting started and really using that MVP of anything and seeing market traction and then investing. You know one something is working, there is money available, and so getting those ideas just off the ground and really knowing who your target market is from day one and then is it resonating for them is probably just the number one question. It's great. Well, I appreciate the time. Besides. Well, and let's mention your website. The obvious place first get. So it's JIHICOM. Great, the main name you picked up there. Well done. Any other websites are places you want to send people? No, other websites. A great place to start. Okay, and you can check out all your products there. Yeah, thanks for sharing the full Jennifer back story. It's been a fun ride and I can tell it's very much still going and I feel like actually want to ask it. Miss Morphousiscom is? That's also something we can still check out. It. Is that up and running still? No, it's got actually, it's very sad, or maybe it's very define. I stopped paying attention after I had my daughter. I gave birth. I wasn't paying attention for a couple months and I didn't pay my media temple bill and they took the site down. Oh No, I still have the domain and I still have the backups, but it was like kind of this life transition of having a daughter and all of a sudden miss morphous was was gone and it was like well, professionally, maybe miss morvous has should be down. So they've let it stay there.

Fair enough. Okay. Well, geeecom is definitely the place to kill right now. But no, I appreciate the time and the inside into the cannabis space. It's been wild. It feels like it's still very wild for anyone who's getting into it and I think your insight will give them either courage or maybe we'll stay away. I don't know. That's a result of what you said. But no, I do appreciate the inside. Thank you absolutely. I maybe stay way. It is very challenging. It's a roller coaster. So if you're looking for an adventure, I would continue to call it an adventure. Okay, sounds good. Thank you. I hope you enjoyed that interview with Jennifer Beck and appreciated the detail she went into regarding her two companies, Gee and cannabase. Including the exit of Cannabase as well. I was fascinated by the whole story. Now, if you want to get all the interviews I release in the future, as well as access to the entire back catalog of vested capital and my previous podcast episodes as well, all you have to do is subscribe. Pick whatever APP you currently use, whether it's spotify, apple, Google, Amazon, any of the other third party on Stitcher, tune in and so on. You will find the show there. Just look for a bested capital or my name, Yarrow, why a er? Oh, and they hit the subscribe button. You can access everything. It's always free and I appreciate if you do subscribe. Also, if you think this episode in particular would be helpful to any friend or family members you might have. Maybe they're getting interested in the cannabis space or building a marketplace or creating a physical product, send this episode to them. It's best a capital episode number seven. Send them an email, send them an instant message, what's APP, text message, whatever social media platform you use, and tell them to check out invested capital episode number seven. I'd appreciate it. I'm sure they'd appreciate it, and that's it. My name is yarrow and I'll talk to you on the very next episode by by.

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