Vested Capital
Vested Capital

Episode 7 · 3 months 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 Yaro host of the vestedcapital Podcast, the show about how people make money, build capital andthen put their capital to work. I interview star up founders, who haveenjoyed big exits angel investors, venture capitalists, Crypto and StockTraders, real sat investors and leaders in tech. Today, you're going to hear myinterview for invested capital episode, number seven with Jennifer BeckJennifer is the CO founder of Canobas, which was acquired by Hel ex P C S, andcurrently she is the CO founder and CEO of Gh, which is a cannabis retailerwhere she's actually making her own C B D products. I should say it's a CDretailer for skin and body care products, kind of base, the company shefounded and then sold was a marketplace basically connecting the producers andthe buyers of cannabis related products. Sore going to hear during the firsthalf of this interview how that company was started, all the challenges thatcome with working within a space that is highly regulated and also because ofthe nature of the different laws around the states and around the world, lotsof extra challenges in terms of things like getting financing being able toprocess transactions, which she still could not do today and could never dowhen she was the CO founder of Canobas. So, as you will learn, her marketplacewas actually running under a business model that was very much a traditionalpublishing model, bringing together two groups of people creating an audience amarket place and then monetize with things like sponsored, post and othertypes of paid advertising that the uses of the platform could do to reach andconnect with each other. So Jennifer breaks down everything that she didwith that how she met her husband, who became her technical co founder. Sheraised investment in that company and then how they eventually sold for overseven figures to the Hele tss company, and that was a really interesting story.Actually, because the timing of the sale was when TC was actually about tofloat to an IPO with essentially a penny stock, so a lot of the equitythat Jennifer and her husband were about to receive in a new company wasjust floating, could have gone anywhere. The value of that equity, as she said,was all over the place. So I was interesting story to hear about that.We also hear Jennifer talk about gk, her currunt project and how she puttogether the product, how she did her initial website lunch and got our firstcustomers and what Er strategy is around that so amazing story, if you'reinteresting in the CANOA space, if you just sat in building a platform like atwo sided market place, hers, then in creating a physical product. Jennifer'sdone all of this, so you'll find this podcast really interesting before yougo and listen to that, I want to once again introduce you if you never heardof before to my company in Box Duncome, which is the sponsor for today'sepisode in Box. Done is a service where we provide an in box manager or severalto take over replying to your emails for you, whether it's your personal inbox or business in box, your customer service email or your health desk andything to do with email, managing messages, even social media messagesthings going into our INSARA, ms or twitter D, MS, or linked in dims, allthose kind of places we can answer those questions for you, so we provideEnglish is a first language, great communicator. Someone has beenspecially trained to manage email they step in and take over this function foryou and or your company, and your entire team, as we are working withteams now, as well for more information about that had to in box done com. Now,let's get on to the interview with Jennifer back okay, I'm very excited today to betalking to well my first ever guest specializing in the canabis space andthat's not a topic. I've had a lot on my podcast before so this will be,hopefully an enlighting experience for me and and the listeners as well. SoI'd like to welcome Jennifer back to the show hi Jennifer Hi. Thank you forhaving me so I'm just going to just read off your linkin pay just a coupleof high lights, 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 CO founder ofCanobas, which was acquired by Hel ex P C S. it's funny. I was as a teasomething in most of the kind of US names, the TC TC s and currently yourco founder and Co G. I think I'm saying that right as well, which you've takenyour kind of a skill set and apply it, I'm guessing to direct to consumer likeretail selling your own products that you've made so I'd love to hear moreabout that. So those are the two main companies I know about as any otherones that you've got hidden away, that aren't on the Linkin page that weshould know about no can of Aean g here are the highlight awesome? Okay! Well,if you don't mind, I love doing this in chronological order. So if we could goback in time even before kind of base, where were you born and then did youhave any entrepreneurial sort of stories in your teenage years or evenbefore that yeah? So I'M A DENVER NATIVE I've been here, my whole lifeand I was born in entrepreneurr. So you know when I was a kid at home in thesummers one summer I took every book out of our house and I put little barcodes on the side and I put them all back and I was going to open up thehouse to the neighborhood and make it a library my parents were furious. Theyhad to pull 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. Iwas a psychology major and I started a blog called miss morphosis, whichchronicle kind of my dating my growing up and my psychology experience andkind of blending it, and that became a really popular bog. You know it's kindof the early days of blogging and that led me to my first job, which wasbecoming an only marketing director. Okay. Well, you GE tell you more aboutthe Blagoslav in the blogging space. Well, not not quite stared, butcertainly early days at what year was that blug started. So I was abouttwenty one and I'm thirty four. Now it's about thirteen years ago, okay, sofairly, like I started my block in two thousand and five, so you would havebeen 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 soinspired. I want to talk to someone did know what to talk to and Google how tostart a blog and miss morvis is just kind of float and it did, but I lovedit. I loved learning, elevee blending, the copy writing and the art and kindof learning these early days of you know online marketing and there was areally there's still an amazing community, but there was a reallyamazing community of people kind of pioneering back then that I enjoyedlearning from yeah. I was a bit of the golden days. Can you mind me again? Youwere in university, I'm assuming was a psychology given the the topic of theblog. Yes, I was a psychology major did you expect that to turn into a careertype job, when you were doing that, or was that more just because that was atopic you know you're interested in yes, so mental health is really dear to myheart. I had an eating disorder in high school and in College. I thought thisis my calling I'm going to become a psychologist and work with young womenand so miss morphosis was kind of the beginning of me. Exploring that voiceand exploring these different schools of philosophy and understanding whatapplied to me. But then the blog ended up leading me down a different road,but we have kind of return to the mental wellness calling now with thewhich has been an amazing full circle. Experience Okay, yeah, Miss Morphos ISTdoes sound like you're a superhero that title don't like it. You take this for it, so you have theblog, I'm assuming you graduated, and then you got a roll in marketing. W Tis that right yeah, so I started working for a tet company on downtownDenver. They did a conference software so hap to help you find your sessionsand meet ups, which was all very new at that time, and I took over as theonline marketing director there and that is actually where I met my husband.He was a developer at the company and he happed in and looked at, missmorphosis and said. Oh my gosh. This is a mess I had like thirty fonts going. Idiscovered you could have custome funds. I used every fond. I likes. You know itwas just really really unstructured really wild and he came in and reallydialed 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 helppeople with sort of mental health. was there an aspect of the marketingbecause I know marketing is a psychology subject. At the end of theday, did you like making that choice to inter marketing? was there a little bitof a maybe the later down the track? I will do more the mental health- andthis obviously will pay my pills right now, or did you actually see there's aconnection some way with the marketing in the mental health? Eventually, it'sa great question. So the majority of people that enter the CID programs,which is what I was looking at it's around twenty seven, so they usuallylook for some gap years and you need to you know, do internship and kind of getready for that. So in that period of time I needed to work and I loved thework of marketing. Like I loved the work of Miss Morphosis, you know theactual physical writing creating building and so that I kind of gotswept away with that. Okay, so there was the kind of a no didn't feel likeyou were, betraying your mental health studies in any kind of way entering theroad, a marketing and as someone to feel like sales and marketing is kindof Picky, but I'm glad to hear that might not be the case. Take US forwardhere. So you working marketing met your husband. Your website obviously is well.The fonts are at least tying to look consistent if nothing else right takeus for how does kind of Esente the picture here. Is it anywhere on thecards yet or is that coming further down track? That's coming further downthe track, so I ended up kind of moving to a couple of different companies, asI grew as an online marketer and really craved being out on my own again. Ireally stopped writing this porpies. When I met my husband, there was a lotof dating and a lot of just me being young and very free on that blog andsuddenly there were two of us and he wasn't. He was okay with it, but theidea of sharing both of our story didn't seem as fair, so miss morphosiskind of started to wind down. I started growing as a marketer and I reallycraved being on my own. I had a lot of ideas. It's always been a challenge forme to work for a job and t marijuana was about to be legalized in Colorado.So at the time we had a medical market, the recreational market was about toopen up and that's when we really got curious about the tech opportunitiesokay. So how do you explore that? Given I'm assuming you say we it's yourhusband too, given he had a technical background, so you've got that kind ofcombination of your marking, skill set in his technical background, althoughyou're, not technical, given you did build a blog yourself as well, andmaybe you can connect with dots to for your husband's side of this. Did Hehave an entrepreneur background because for you to to consider startingbusiness yourself? was that daunting or just natural like? How did it feel at ayour question? So I am very high risk taker, entrepreneurial full of ideasresilient. My husband's also very resilient, but he's not he's alwayspictured himself at a very stable job, but he's younger so he's three yearsyounger than me. So at the time he was still really young and like whateverthis is really exciting. He might be settling down but we're you know. Ithink it was a wild ride for him and he was really gungo about exploring it. Sohis skills are, you know, deep technical development back on friendand full stack and then he's also multimedia web. So he can do designprint collateral, and then I got the marketing and the business side. Sotogether we were kind of this. This one stop shop. We had a little web agencyand you know we did some site, so we had been exploring and I had a friendfrom high school who owned a successful medical dispensary called doctorsorders. So I took him out to dinner and said you know: What do you think arethe technics and the Canada space and he said: here's what's coming right now.The market is not vertically integrated. So right now you have growers and youhave dispensaries and it's mandatory vertical integration you have to haveboth. You have to be both a grower and you have to sell your own staff withthis thirty percent allotment for wholesale. So right now you can mix andmatch a little strains or a little overflow, but for the most part youhave to supply your own product that...

...mandatory seventy thirty verticalintegration is going to be ending this spring. This was around like a August.It's going to be ending this spring and all of a sudden we are going to havestand around licenses, there's going to be Sandal and growers Sandal andretailers, and this whole some market is going to open up and at the timeeverything was done over the phone. It was really like: Hey man, I got alittle left over product, it's really good stuff, everyone wants it, here'swhat it costs, but nobody knew you know what is the fair price? It's allhappening over the phone. It's all happening through communication, so hesaid you know, let's create the first whole sum market place, and that waswhat we ended up dealing okay. So now I know when I was reading this. Thedescription, a wholesale market place my mind, having not spend a lot of timein wholesale. I do think of maybe Ali Baba. I don't know if that's a goodexample of a kind of a market place, and I guess it's wholesale in someregards you're going direct to China was your vision, kind of a peer to peermarket place where we provide the platform and then the growers will cometo it. The buyers will come to it and we be the e Bay or the Amazon orwhatever 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 andyou know we were huge proponents of the lean start at philosophy, so we get anMV out there, the minimum viable product and then we're going to iterate.Our whole emphasis was on scalable intrat ive technology that we can moveas the market of all, because the cone of uncertainty was deep at the time youdon't know where things are going legislatively and you don't know whereyou're necessarily going to find the most revenue. Obviously the bestoutcome would be that we can take a cut off everything that moves through thesystem, but that's a non license business. That was not legal and itstill isn't. Legal you're also dealing with a lot of restrictions in terms ofpayment processing, so just being able to say, move the payment through uslike a Chapa, and then we take our two percent and you pay your paymentprocessor. That's really where the big opportunities were with Canobas, butbecause of financial restrictions were not available to us. So what we saw asthe present day need was, let's create kind of an Bay Ali Baba community andwe can create first of all, we bring this compliance element because youreally want to be sure these were. This was right after the Silk Road. You knowthe dark web stuff had been kind of, had happened and had been exposed, andwe were really sensitive to. We want to be sure anyone, that's transacting onour platform is supposed to be here and we're not facilitating illegaltransactions. So a lot of our business was about the compliance and managingthe database and the licensing infrastructure and making sure thoserules and permissions were really really tight and connected to the stateconnected to the licenses as they moved with the state and then another bigpiece was data transparency so showing what is the average price in the market?How much our listings being viewed? How many connections are happening overthose listings? Where is there really supply and demand, and that was US kindof moving it out of this phone call environment into this transparentmarket place? And where is your actual like? What are you making money fromand all that at the start, because you said, was really challenging? We made alot of money in advertising, so we set up store fronts, especially for themits. So mits are the infused product manufactures, which three lives ensetypes you have the growers, you have the retailers and you have the MIP whoare making infused products and the infused product manufacturers are theones that are creating brands that can go to every store. So it's reallydifferent than wholesaling flower, where, if you wholesale flower, thereare some shops that will keep your label on it, but for the most part,chops are going to white label and say this is all our stuff they're not goingto give credit back to the grower. But with the MIBS and these branded edibleproducts, you saw people creating brands that really had fallen acrossthe state and then eventually those were the first brands to really gonationwide through different licensing models. So helping the mits advertisedto all these licenses these retailers and then help them source theirproducts through the growers was a huge...

...space for us. As well as servicing theAncelle community, the answer community are non licensed businesses who servicethe license, businesses, so payment, processing, banking compliance,consulting legal grow equipment. Anybody that church is the legalcanamus industry. We had the decision makers on and engaging, and it was areally targeted platform. Okay, so you would have like a a sponsored post areaor like a highlighted person or organization within the market place,and they would be paying money for that kind of highlight, or even I'mcorrectly, O I'm wrong. You might have had like the newsletter as well, thatwould have gone out and you would have promoted someone in that. I'm kind ofthinking back to like traditional publishing models. Basically, when youmonetize with advertising, is that coming on the right track there yeah,so you had the ability for businesses to promote their posts, kind of bumpthem for those one time fees or five packages by employee packages. We hadactual, like catalogs that were really interactive with video polls, giveaways pictures that the ancelle service providers could purchase and could usethose to engage, a very strong email marketing because we utilize emailmarketing to share pricing data. So every week we report Canalis Canalettiswas a phrase week coined and every week we would report Canaletti to the market,so we had really high engagement rates with our newsletters, so it was justall of those kind of combined that created are that our revenue streams?Ah That's interesting- was the plant from the start to be such a publishingkind of model, or did you actually think? Eventually, we would be. Youknow, taking a cut of transactions or facilitating some part of the valuechain that you're taking you know a part of you're, doing it for them orcharging a fee, for it was that in your mind, that was always the vision youknow. We hoped that legislation would progress much sooner than it did and Iactually still haven't. We still haven't had banking reform, we're stillwaiting for that, so that was ended up being a huge, huge challenge of thebusiness and another challenge of the business that we didn't understandgoing into it. No one knew it was all brand new is how tight the margins arefor license. Candidates businesses. So you know we have kind of thisimpression that the despensers and the growers are just rolling in weed money.You know and numbers are up everyone smoking bad during quarantine, everone'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 andcompliance feast that going to being one of these regulated businesses,they're heavily regulated, so you've got all your start up costs, and thenyou have all these licensing fees and then there's this law called O ohundred and eighty which most people aren't familiar with, and it's from thewar on drugs, and it basically states that if your business is selling afederally illegal substance, you can't deduct your business expenses and soright it changes everything. That's why we were, and still are so passionateabout banking reform and legalization. I don't know if ted will ever beoverturned without legalization, and I don't know if they want it to beoverturned, because it's where they're making the government's making a lot ofmoney so licensed canvas businesses are tax on their growth rather than theirnet, and so, when you have this two ate in addition to all this compliance, inaddition to being a start up, you have a lot, especially in the early dayswhen you had way more mom and pops. Now we have more of these multi stateoperators and the publicly traded companies and then with all the bankingrestrictions, there's no access to capital and loans. So it's a stretchedcommunity more than you think we did try a couple things like working with abit coin: Company in a grating like this bit coin thing that would allowpeople to transfer payments online right now, it's all cash, because it'sthe lack of banking or form and hoping that that might work, and we take acouple percent off the top for facilitating the payment on linethrough this bit coin. Switcher that happened in the middle, and I mean wehad some of our our biggest spender the...

...guys that paid for advertising. Noquestions ask you know promoted every post like guys that were really reallypassionate about using the platform, and one of these guys came back and hesaid you know I would rather count twenty thousand dollars and once thenpay an extra two percent. We don't have it I mean, so it was really showed usthat this is going to be a long road till it's making back till t doing that.Wow, okay, wow yeah! It's interesting! I read, I think it's the billion dollarsomething like here in Canada, I'm from Montreal, and I think it's exocoetusthe author and whose company and that book much like you're saying now, wasconstantly talking about changing legislation and rules regardingeverything from packaging to sourcing, to farming licenses, to how youadvertise it s. just like such a constantly evolving industries. I cansee why you two made the choice to focus more Helen, a platform thatservices rather than becoming an actual service provider, because at least youdon't have to deal with quite as much I mean you're still in the industry, butyou're not worrying about anything more than a technical side of this whichactually I'd love to talk a little bit more about now. I can understand yourplatform now what you were doing and given it a two sided platform, andyou were monetize 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'stwo sided, so you have to find the suppliers and the people who want tobuy or people who want to pay attention to the people who have something tooffer. How did you start that process, and I know, you're the marketing brainof this equation to so? What was your thinking right from Day One? What do wedo? Get the supply side first and then find the audience for it or what wasyour thinking yeah? An a tango? The is market place ideas, it is a chicken andegg and you have to get it off the ground before it starts to move. Soengagement 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 buildingrelationships with the growers we needed to have product available. Youknow we went live in January, knowing that vertical integration was coming,it was ending mandatory, vital indication was ending the end of spring,so we had a little bit of this rampant period where we could kind of say. Areyou ready? You know we have products for you, people didn't know if therewas going to be a shortage. There were all these questions, and so we spentthe first six months really building our growers. Building our EMENTO member.We sent out our first news letter like we have a hundred pounds and it waslike were flush. You know, but eventually have thousands and thousandsand thousands of pounds on the platform, and then it was about you know. Youreally think you know when it comes down to it. You end up building thesecompanies, especially in tact. You think we're going to scale andeverything is systems and funnels and especially coming from Web Marketing.You know everything. The perfect final will crack any code and it will, butyou really do build it. One relationship at a time- and you knowone very meaningful relationship at a time, so we built very strongrelationships with our growers and then various strong relationship with ourretailers and then I became very involved in the community. I was thevice chair of the Cardo Canavas Chamber of Commerce. I was the only ancellabusiness on the board who are working with all licenses, and it was ourmission to support the licenses in representing them on a legislativelevel advocating for their needs, advocating for their profitability,advocating for their safety and supporting their businesses, and we hadto just really really become their champions, to earn their trust and tobuild that engagement. So you must have spent a lot of time in person and onthe phone for a text start up. You would have been like very very face toface. Oh the hours were insane yeah. I meanwe never left that office before ten o'clock we worked. You know, I didn'thave a kid an now. I have a four year old at the time I didn't you know, weworked from eight am to midnight every single day, and I was in tons ofmeetings always meeting with people always meeting with investors. We had avery big team and then at night I did like to really get involved in theactual development, and that was the...

...beauty of having my husband running thedevelopment side. As we were really close, we called it flowing. We wouldflow through the APP all the time, so how many actions does it take me to getfrom here to hear? Where does it get confusing? Where does it break and wewere just constantly flowing because there's all these permutations ofexperiences depending on WHO's, viewing the AP? What type of we had all thesedifferent user experiences? And that was one of my absolute favorite parts?But yes, it was about constant feedback and that itata model than iterating onthat feedback you mentioned investment. Did you getinvestors from day one or that come later on yeah? So we raised money rightat the very beginning we had it ended up being josh the one who owned doctors,orders and came up with the idea, and then we had another silent partner. Sowe did raise money to get off the ground and then we continued buildingrelationships with investors until we actually found the person that wedecided to sell to so whenn you're raising for this kind of space. Is itdifficult to raise funding and, as that, knowing, like you said before, thebanking side of it is difficult and having read this book before, Iremember they were also having trouble getting traditional financing. So atany point in time during you know your process of raising money did you haveto like I'm guessing it's always within the kind of a space or almost raisingalways from other players in the space? Is that accurate yeah? It's always youknow family offices independently wealthy individuals there aren't. Thereare some institutions that touch it, but largely they don't. You know andthat's the same situation we still have with thinks: There's limited banking.So it's a lot of meetings. You know just like anyone who needs to beconstantly raising money, you're constantly asking answering a lot ofquestions by people who are very curious about this big industry andthen and then just generating those relationships and hoping that they'reavailable when you need them, but it is challenging and you really are stayingwith family offices and private investors yeah. I know I've listened toa lot of podcast with like tss and angels, and and some of them have ablanket policy like no sex, no drugs, and we tend to fall into that. Sotherefore they don't back anything to do with cannabis. Even a platform likeyours, which is not actually doing the selling you're just doing thematchmaking, so extra challenge can we go back to the growth of the company soyou're doing all this work to get the supply side? How long did it take youto reach the point where you're actually making- and maybe you can doit in like chronological order making a full time living, because you must havebeen working a job, I'm assuming what you two are building this at nights? Ordid you sooner you get the invested money, you quit everything you weredoing elsewhere. How did that girl phase go financially for you, two yeah?So financially it was a really good time in the market. You know. A lot ofthis stuff is all about timing, so it was the opposite of that Panada it wascannavat market was flying high again the regular market was doing reallywell. So we were actually able to secure a very large investment beforewe even went live, so we weren't working and we launched with a team, sowe launched full speed ahead. It was just one of those very fortunate devinetiming situations and we were able to put everything into it and we continuedgrowing the platform for about three years until we sold okay. So that's that's an eares thing because inthat case, you're doing that not from a place where okay, we need to make tenthousand a month to pay our bills. It's more of. We have this much money, thismuch runway from our investors. Usually it's like eighteen months to survive tothe next raising of funding, and then during the eighteen months you have todouble 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 get the recordbutton, we talked about sharing numbers and what you're comfortable with I'mkind of curious, especially caucons der you sold so quickly like three years,is a fairly. I mean it's not that uncommon. Nowadays, I think, but stillit 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 launch the service. Do you go fromzero to transacting millions of dollars in deals on the platform within a montha year like what was that growth for the company in terms of what itactually did? So the company had never made that kindof money. I mean it was always making advertising dollars. A sorry just to clarify mean like howmuch was being transacted on the platform, not you actually making themoney, but between the buyers and the sellers. Oh, that is such a goodquestion and the truth is, I don't remember: I'd have to look back at itat how much was moving per month. It was about five years ago now, but Icould look back and I could try and find out some numbers three in terms ofhow much was moving on the platform and some of it, 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 alwaysknow because we weren't transacting the payment for so a lot of what we had wasa lot of listed. We had a hundred thousands of pounds that were listedand then were the listings were moving and they were connecting, but actuallywhat those that final price state or what it transacted for getting thatfinal feedback. We had the mechanisms for that reporting so that businessescould 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 Idon't know because we didn't know, we just knew how many businesses wereengaging, how many employees were using it, how much was being on it any giventime and the goal was really what it was about. You know we were supportingthe team with advertising dollars, but really what it was about was the valueof these users. We had a really really targeted user base of license businessowners and that was valuable as part of a technology ecosystem. So in cannabisyou have to have the plant tracked from seed to sale at every stage of theplant's life cycle, so the government knows based on these R F, I d tags.This seedling is in this room at this stage and it's this whatever and thathappens through a point of sales system and show the point of sales systemintegrating that point of Salem at R F. I d government tracker into can abaseand having all of these business owners using these sinked up systems. That waswhere it needed to go. It needed to have that kind of relationship, andthat was the kind of technology company we sold it up into. So it was less atout saying this has reached its Max potential. There's nothing left for ushere, we're going to exit. It was much more about taking it and spinning it upinto an area where our user base was so valuable. Our Technology was incrediblyclean, incredibly easy to manipulate and work with, and we were able to spinit up into a bigger technology, sweet that can now support all these systemsgrow at a faster rate and then hope, eventually that you know they were ableto charge more of a subscription and then hope that eventually, the paymentprocessing would open up and there could be a cut and that's kind of thelife cycle. So we sold it at a very early stage in the life cycle of thebusiness. Okay and that's what he licks tss kind of were doing and Haming tocontinue 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 startabout potentially once the legislation openedup taking parts of the transaction which never has happened so far, sothat obviously I guess, as the years went by even if it was only three years,you were thinking, we don't know, and this is going to happen, so we can'tbase our decision making on that we're doing really well with being a platformand monetize our audience as a kind of a publishing platform, and, like yousaid, we have a very high value stake, holder the people paying attention toour platform or decision makers within the industry. Can you take me throughthe period when the acquisition...

...happened? Was that a case of you like them approaching you out of theblue or you started to think? Maybe we do want to exit or just you know, kindof the magic of meeting the right people atthe right time like how did it all go down? Yeah one relationship at a time,so we reach out to heal. Like Helix TC estimate he licks technology compliancesecurity, so their vision was to house all of these key and celery servicesunder one roof and we had been meeting with them. They were really interestedin the technology side, they were deal guys and they had a lot of access tocapital and their background was in emerging markets and mergers, anacquisition so ma and emerging markets and growing businesses through Ma, andthat was really their strategy. So their strategy was to go public earlyon so that they could use the stock as capital from mergers, which is heracquisitions, which is basically what's happened throughout the and of a space,because you don't have access traditional capital. You have all thesesmall companies that are doing interesting things, but it's a stillsmall market. So a lot of the power is held in the publicly traded side.That's where a lot of the companies just fits the vehicle for investmentand it's the vehicle for acquisitions, and so it really all happens there. SoI went to them because we wanted to. I was involved in the advocacy for acourier allowing outside courier services. At the time you had to have alicense to drive the product, so we did a wholesale deal between a grower and adispensary. We couldn't deliver the product because it couldn't leave alicense these hands. So you have these like ninety five pound bud tenders,these girls, throwing you know huge bags of weed into their car and drivingit sometimes hours. You know up to the mountains, it was. It still isincredibly incredibly unsafe and incredibly dangerous and paring all thecash then bringing the cash back so we're advocating for Carter services tobe allowed. That was about to go through and we wanted to be involved inthe early stages of that so reached out to helices who had a big security armand had cars, the insurance. You know all of that bricks and mortar piecesthat you would need to implement that and we started meeting with them aboutsinking up on integrated deliveries, and that was when the conversationbegan. They were just about to go public, and so it was a little bit wasa huge leap of faith on our part, because we had no idea where this pennystock was going to go but zack the person who ran it was he's incrediblydynamic, incredibly smart, incredibly quite a visionary and he was working ona deal as well with bio track THC, which is the largest point of salecompany in the market and really runs the analytics that you know all theanalysts across the country and the compliance. So he had this division ofbringing us all together, but it needed to start with a can of based arm. SoThat's when we were folded in with them. So how does that play out the they say?We want to acquire you, and you say: Okay, let's talk about numbers is assimple as that. Basically yeah it was. He said you know we were at a stagewhere we really either needed to raise. We needed to raise we needed money. Sowe we've been looking at a couple. Different investment deals, but theywere complicated. They were complicated because we, you know every dish justnegotiating a deal. Some people wanted more equity, they didn't know he wantedto be non diluted. Other current investors. We had weren't agreeing withthat and then so these other guys were going to walk away, and so we had abouttwo or three of these deals on the table. where I couldn't get everyone toagree on a path. We had one investor that was really early on and he waslooking to do new things and needed some liquidity, and so he was blockingsome of our other options. So we were in kind of this tight space and whenZack showed up and said, listen we could fold you in. We can support allyour employees. We can provide you with these integrations that you really needwe're raising a lot of money. We have access to capital, you can grow out,you need to grow, and now you through the stock will have liquidity. So it'san exit. You know that you can choose...

...when you exit you're still on this roadas long as you want to be part of it, but when you're ready to exit you andyour investors have liquidity, and so it took us. You know six months to getto a deal, but everyone was really happy in the end with how it worked outo. So that means it wasn't like an all equity deal at that time. No there wascash. 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 thattook mostly equity. We took a lot of equity, but that ended up workingbecause the CANOVA stock market went way up the choice yeah it was, I mean it'sbeen a gamble. It's been a roller coaster, the whole way, but yes is itpossible 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 asequity holders, but could you value Canon base at a number when it wasfolded in at that time? That would be really hard, because so much of it wasequity that swung so wildly. So you know how much what you know. We tookthe exact day versus a year later, what it was worth and what it was. You knowwhat that was worth all of us. It was a seven figure acquisition all in and wedid really well with it, but it was a high risk acquisition because when theytook us on they had just gone public. So we ended up getting. You knowmillions of shares, millions and millions of shares at twenty cents ashare, and then those shares went to three Dars a share and so and thenthey've been. You know, they've been vacillating wildly and we still holdsome of them, so he looks ended up then merging with biotech this largest pointof sales system and then actually got swallowed up by a bigger company, NewForan. So now it's on the NASTA and it's a company called Corean and thehow the shares work have changed. But now it's a thirteen dollar a sharestock on an Aztec. So it's really it's a roller coaster and a lot of thecompanies in our space have that trajectory. It's murders. Iacquisitions. It's moving its changing. It's just happening really fast andyou're, trying to iterate and kind of keep up yea it. It does seem like anunusually 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.Like I don't even think you know. Second Guess So, I'm going to sellanything. I just you know, ups whatever will take it, but it's not so simple inthe kind of a space before we leave this acquisition story. I just wouldlove to know from your personal perspective with you and your husbandwhen it came to selling your company and taking mostly equity to in a pennystock, as you said, which is like, potentially, you might be trading yourwhole company for nothing. At the end of the day, you weren't really surewhat was the like. The emotional decision around that like were youhoping? This would be, let get you retirement money one day orI'm guessing, because you decide to stay on and keep working with thecompany. You did see your future still doing the same thing on some level. Itjust would be for another company that owns your company because you didn'tsell to like kind of leave completely and you know, go see on the beach orsomething like that. There was still something you wanted to do. So what wasthe mind set for you to and were there a lot of conversations as you to as acouple of deciding what to do with? Essentially your baby at that time?Yeah it was challenging, but we very much saw it as a next step and a growthopportunity. You know it was an amazing team that was running the company thatwas buying us with a lot of experience, a lot of access to capital, things thatwere challenging in this space and canvas was expensive. They needed moneyand needed integrations and needed things that this could give it reallyreally quickly and really well and a rapidly developing space. You know, Idon'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. Youknow we raised a bunch of money, we started cannoby, we moved candidates toits next step. We took a bunch of equity, we worked for them, we wereable to. We eventually did have to leave so that we could t open up ourability to sell some stock as long as...

...you're working there. We were insiderswhich made it really really really challenging to sell. So we worked therefor about a year and then left and then came back and kept coming back a little,but I really enjoyed the team. I really enjoyed the new companies that Canobaswas growing into. We had a lot still to offer, but it was really challenging tocontinue to exit when we were in the company, so that became a dance thatwent on for a couple of years and then we've moved now into the CD space andwe still own a lot of pot stocks were still pretty heavily invested in thePADSOP, which vacillates really really wildly so part of me sees us is stillon the canopus ride that we've just managed to turn into this veryinteresting career yeah. I guess you didn't see that coming when you wererunning 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 Gheor your next company, but before I ask you about that, this show is calledbest, a capital and frequently like yourself. I have guessed to have hadsome kind of exit from selling a business and I'm always curious whatyou do with that money. In terms of investing, you said you work for thecompany with the you you have to when you decided to quit, because then youcould actually sell some of your stocks and you know get some liquidity open towhatever transparent you like here. Every guest is different on what theytalk about with investing, but once you were able to sell some stock. Is that acase of like? Let's just buy the house? We've have our own house and some otherpeople are like. Let's black crypto currency, I mean you're ready in avolatile industry with pot stock. So I'm not sure where you want to hadanother volatile ass IC class to your investing. But could you may beanything you want to share around what you did with the money yeah? So we didput 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 that.We were heavily invested in Helix, so taking that and just diversifying intoa 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 othercompanies in the industry we were interested in and then some companiesoutside and we diversified our portfolio and then we use a cashinvestment to Star G, which has been fantastic because we own a hundredpercent of it, which is really exciting for us, but you know at some point we'dlike to raise but to be able to have the runway Vaqui and the ability thistime 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 havea lot of vested interests in people that need to be paid back from day, oneand in a start up, especially the kind of statical ure? We really enjoybuilding. There is a lot of people that have to show up to make that happenevery day and they have to really believe in it, because there isespecially like in this industry, there's so much uncertainty, it'schanging every day. You're, always you need people that are a resilient andflexible and creative and aren't searching for just stability, so thatsame 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 dothat, to divy up stock to employees to bring on an advisory board. It wasalready a lot of people kind of fighting for the equity from day, oneso having G, free and clear owned, a hundred percent with its runway in thebank, a diversified stock Cortola, the house, the infrastructure, you know andthen putting some in the bank kind of you know it took care of it and thenthere's we still. We still have quite a bit of sack we haven't sold so I'd saythat we're still very much on the ride, because we did put a lot of it intostarting fee and doing the next thing and and seeing where that would take usyeah. Well, he'll tell you more about that. So I'm a little surprised to behonest after you would have been exposed to the hassles and thechallenges in the can of a space as a a tol retailer or distributor, not just aplatform for I, yet you correctly from...

...wrong beside to go and make your ownproducts in this space. So what what led to that decision? Yeah so and wedid get into C bde. So CD is a little bit different than candidates. Theycome from the same plant, but CD is extracted from with classified as thehemp plant, which has less than two percent to C so or point two percent C,so you're looking at really really really love THC levels. You're lookingat this is industrial hamp and it does not have the licensing requirements theCANOVAS has. So we don't have to have a license. We don't have to have ridtracking. We can sell across state lines. We have much more generousaccess to banking. That said, there are still a lot of the same challenges. Wedon't have access to advertising and the same way traditional company. Doeswe deal with much higher rates everywhere were considered a high risk.You know payment processor, so it's five percent. Instead of two percentyou're still dealing, we would still benefit greatly from canabis perform,but it is much more open and available. So it's a little bit different and wedecided to move into CD becausee of our experience and can abase and watchingthe supply chain and watching the products people were producing. We sawthis flot of businesses, people starting CD companies and the majorityof them were two things, one that was all white labels. So a couple majormanufacturers producing motions, Joe Capsules pet, treats whatever it is,and these thousands of companies popping up but they're all buying thesame products and putting their label on them and it's just who can get tomarket the fastest with the most CD in their products, and we didn't with ourexperience and advocacy and with the plant and having been in the space forso long. We didn't think that was the future at all. It's not about how manymilgrave can I shove into a cheap lotion. It's about really effectivesynergistic products that use CD as a hero ingredient, but it needs to becomplimented. The rest of the product needs to also be really strong, andwhat we also saw was that, statistically, the majority of C B Dusers are still in their young twenties, their cannabis consumers, they'reliberal, it's an extension of the cannabis community and that are inliberal community, but really who benefits from C B D is a more agingaudience that middle aged demographic, thirty to fifty five isn't as kept into,we believe from the CD market, and that's the consumer that has first ofall the disposable income, but also has the knees it so people seek out CD, foryou know, pain relief. They seek it out for because they're feeling anxiousthey're, not sleeping fine lines and wrinkles when it's used, topicallyincreasing skin, sell turnover. These are all benefits we see as we begin toage, and none of these issues we believe were tackled as well in thesewhite labeled mass produce products. So that was your goal to produce your ownand sell directly, not white label to anyone else, exactly okay. So how doyou do that? You obviously knew how to source materials, but you have to getinto your own little lab and start testing and making your own productfirst and then move to selling it from there yeah yeah. So you know spent timefinding the highest quality CD producers we could find. We knew fromthe marijuana space that it's very dangerous to extract lazily. So inmarijuana you extract the thse from the plant. You can make gummies' you canmake edibles, but if you're extracting and the plant has a bunch of pesticoatson it, you're extracting that as well, and that can create these products thatgive people headaches and make people feel sick. So it's a lot of. It comesdown to purity and quality. So first, it's finding the right growers andproducers on that side, and then we worked with an amazing lab. We spenttwo years building these formulations, so we have three hero products, a face,herum body bomb and then a sleep tincture, which we believe togetherreally nourish all the layers of the end of canavans system and deal withthe main reasons. People seek out these solutions. So we worked with buildingthese really effective, clean synergistic formulations with otherHeron gredients clean Vegan. Everything...

...you'd expect from a really high qualityproduct, and thinking about you know, you're going to a woman in her fortieswho's interested in trying out CD for fine lines and wrinkles and making yourface feel younger. It needs to be a really incredible serum that and herEstetica or her dermatologist would recommend. So it was beginning to lookat the products from that perspective, so we spent two years with the labrending formulations and really getting the product styled in and then we workwith a contract manufacturer. We did all the packaging and how's the websiteall those pieces and went to market in January of this year of this year. Ohtalking to you and it's all so fresh yeah how's it going so far very well. It was interesting watchinginto the pandemic. You know when we talked about Canobas, it was aboutbeing in meetings all the time and the beauty of those meetings is theconstant feedback. You really can see your selling all day and you can seewhen people start looking around and you can see when people go wait. Youknow you can see these questions and that is to me the energy. The thingthat feeds the business is the questions in the feedback, and now youknow where to focus somewhere to channel your energy and with Ghe welaunched into this pandemic, and so there was in the beginning, very littlefeedback. It was a lot of just us putting things out there and thentrying to understand where the orders are coming from and what's tying themand what parts of the message are resonating and dialing it in, and thatwas a that most challenging piece, but, as things have started, to open up thebrands gotten really tight. Now we're moving into a scaling phase and we'vehad a lot of interest by some incredible high and retailers, so we'rebeginning to move into that deeper place of scaling both in the retailspace. Also direct a consumer launching subscriptions building our team werefinally hiring. I put up a job posting for a social media manager. Just twentyhours a week we got five hundred applicants in two days. It's been it'sbeen wild, so the energy now around having the dials and brand and scalingit is there and that wereon that adventure to a lot of applicants. Fivehundred tell me for someone who might even this now. This too is thinking Iwant to get into the Canada space, and even this from your recent experiencewith Gee, how do you do an mb in this space? Not The side? I can understandwhat, based on you just said, the testing, the laboratory coming up withyour actual product. That thing itself is a job, and you know you have to dothat, but once you've done that you've got your first product. It's packaged.It's got a brand of the label, it's ready to go, but you said there somechallenges with everything from advertising to paying a higher price onthe transaction fees. How do you M bpe selling CD product online, which I knowit sounds funny, but I feel like it's also competitive now, there's quite afew CD products for sale, I'm just thinking back slay random, but I was inCroatia two years ago and I'm just at a local market and as people selling CDoils just at that market. There too. So it's certainly not an unknown productcategory now. So how do you MV? Or how did you NB with GK, durly, online orrough line, or both that's a great question yeah and the competitionsenormous? That's the most challenging part. I wouldn't say that thecompetition is the most challenging part, because you still have to createa product that are unique and our products are very unique and have veryunique selling propositions, but because there's so many so much C, b dout there there's a wall. You know the minute nobody's excited about the ideaof talking about CD or like you're, not going to get a bunch of press coveragebecause you started a CD company. I mean it's just not interesting, so Ithink the biggest challenge is creating the brand. That's multidimensional andreally selling the products outside of the CD, but then you still have toreally educate on the CD. It's a complicated sales puzzle and amarketing puzzle, and it is about getting yourself pend of out of thatpack and out of that conversation as bde, gold, Russian and focusing on whatthe products are. So that is a definitely a challenge in terms of NB,I mean you can't do the same as you can with technology, which is the beauty ofbuilding a tech company. You know you can build a few features and get peopleusing it and say: Where do we go from...

...here? And you don't have this inventorysitting in a warehouse that needs to be moved so there's this different? It's adifferent dynamic, there's also a lot of room to iterate everything outsideof that product, so you're stuck with your packaging you're stuck with yourformulations you're stuck with that commitment in terms of distributionchannels. You know: We've spent a lot of time, launching a very basic brandambassador program, so somebody gets a discount and then they have a referrallink. We had a lot of success with a brand ambassador program. It brought ina lot of revenue. So now, how can we scale that? What there are so manymodels now above commission structures were looking at professionalambassadors versus you know, a customer ambassador and then moving insubscriptions and others were paring revenue had, as that recurring revenueimpact the ambassador program, so there's still a lot of room foriteration, especially because I do have chase, and we do have this technologyside where we can spin up and connect solutions in a really strong way. Soyou're, you know you're stuck in certain ways, but there's also there'salso something really beautiful about having a physical product that doeshave a barrier to entry in a way that I remember with Canobas everything wasproprietary. Everything was the technology, was really beautiful andreally scalable and really flexible and then you'd get somebody coming out ofthe wood works with a really fancy work. Press side- and this happened a coupletimes and you'd, be in conversations with investors and they would get inthe middle and start saying. Well, we've got it too, and in really makinga lot of noise, and you know we're going to be bigger than them, and youtry and explain like the technology they won't be here, but you there's nobar to entry. Anybody wants to spend up a work crest site and make it look.Good can come in and say they're a competitor and really challenge ourrelationships with press customers, investors with a product there. At somepoint there is an amount of capital that goes into the formulations, theingredients of the warehousing, but all of it. There is a league at a littleroom there and then it's about iterating, the rest yeah and I canimagine the branding side of it really comes down to it as well and theproduct itself. Of course, while you was saying a that, I was thinking so,if I create my own product and assuming I like it, an I just get a shop, a Fistore find an influencer on instar. Give them a free sample of my product.GET THEM TO BE AN investor pay referral commission and a way I go is that is itas simple as that? For, if I I know, maybe yeah, I'm getting a guess here,yeah it is that simple I mean the Internet is amazing. I mean it isamazing. It's amazing, you know how accessible it is to spend something offthe ground and reach a lot of people. So yeah I mean you'd need it would be alot easier if you're not selling CD. So, for instance, payment is Shoppie,really favors vendors who use their payment processing. So you get thelowest rates you get subscription hook. UPS, you get all these pieces in chop,a fie, you shot five paven processingn. They won't work with us because we'reVD. So now we have to find a high risk payment processor and for us to releasesubscriptions. We need to do some really fancy custom micro sites, butthe headless microcycles kind of stuff, where it's off our primary commercethere's a lot of sophisticated tact that has to happen for us to movearound our barriers, which is why, in a sense, even though we have all ourproducts our first you know, line of products were still Envy Ping it andbuilding that were expanding the technological ecosystem, which isreally a lot of our strategy in our edge. But if you're selling anything ifyou're selling a widget, yes, you can create a shop of ice store. You can putup your widget, you can apply for shop, IFI payments, you can go, find aninfluencer, send them your widget, and now it's just about traffic. It's about!You know getting your story out there and brand awareness, because theBaridan for creating a brand is so low that there is a lot of noise and I'mguessing what I. What we've just described is what you're up against forthe months and years ahead, you're just...

...going to be testing traffic sources,creating new product, seeing what converts the best? What drives the mostcustomers building some brand loyalty putting those subscription customers onthere? Where does the vision go? Is this a case of potentially having anexit as well? You are, as you said, a hundred percent owners. It's all yourown equity. So far in the company, so where's Gz, O thin, saying they're.Right again, I got a yeah, so gg going in the future yeah, so we hope to growfor a long time. We are looking at a lot of different distribution channels,we'd like to keep pursuing. So we have our director consumer, which we want togrow, that brand loyalty through subscriptions and a very sophisticatedcustomer journey and community journey to build that director, consumerrelationship, where you know we have the best margins and we also have thebest. I want to say the best control. There's a huge education component to CVD. There's a wellness component, a lifestyle component and the more we cancommunicate with someone and create by and there we really create that brandloyalty and again it's our highest margent, so continuing to develop thatside of the businesses ongoing. We also sell to spas and salons because of theformulations and acupuncture offices that we have a professional programhere, we're looking. How do we be building relationships with people atthese spas, salons, acupuncture offices, getting them using it in the treatmentrooms and building out more kues for them that complement the products whenthey're selling it in that channel? And then our third channel is high andretail. So we have retail sales fires we're working with we're working atcontracts for bigger distribution there. That is the lowest margin, but ofcourse, provides the most brand credibility and then also allows us tohappen to new audiences really quickly and grow our volume number. So they allhave differers different pieces at a multi channel strategy. They each haveimportant pieces and they each have different products that they require USbuilding out. So we're in rd and kind of these three different segments rightnow, because we're finding our director consumer business is much heavier onthe revery, the tincture, which do people just buy and use and vious, andbuy a news versus a retailer most retailers because they don't have highrest payment processing, don't want to touch anything oral. They just want touse topical products, so our retailers and then the more personal care side ismuch stronger on our topical offerings. So we have kind of this functionalwellness trick to consumer branch were building as well as this high andresort Sposi, and then the retailer channel, and they all require differentproducts and different strategies. Interesting, you sounds like you can soknow this space so well Jennifer. I can just telling and you're and obviouslyvery excited about it. Maybe last question before you wrap it up all theway back in the start of the story, we talked about mental health and you knowyour original studies and your blog topic and I felt like at that stage.There was a sense of a connection to Ghe at the moment with the sense thatit is about. Well being, can you maybe touch on that? A little bit like howmuch is the product itself that I didn't even ask you? What is Gee'sproduct beside? I know it's C VD and is topical and oral, but is there aconnection there to a mental health like? Is it designed to deal withanxiety, depression? Any other kind of mental illnesses like where is theoverlap? Absolutely so CD as an ingredient really helps our body comeinto balance and come into alignment and the topical work different than theoral but together. That is what the products are about, and they are alsovery deep self care products in terms of rest, rejuvenation relaxation. Wehave a whole wellness philosophy at Ghe, called self centered wellness it'sabout coming within it's about. We have meditations, we offer a bulletjournaling, we have lots of resources, we have a private face book community.So that's really where our heart is as products in mass retail. When we sellonline, we tend to fall into this beauty category, but I see, as is verydifferent than a beauty brand, that asked people to kind of cover up shrink.Look like this thing, G and C B D is an ingredient, are so much more aboutfinding our balance, our truth and using that as a source of power andperformance. So we really love working...

...with athletes, high performingindvidual people that aren't sleeping either body to feel good and bringingback that wellness component Ben Making g about my body, soul performance hasbeen really our biggest differentiator and where the brand has found so muchenergy in the community Hm. That's great. I've used a little bit myselfand I know some people who definitely benefited from it too. From the likethe helping sleep of just as simple as that Jennifer. Maybe this should be thelast question then, for anyone who's listened into your story, it's. It isinteresting because of your background, maybe not technical, but then becamepenical through blogging and then, through your husband, very technically.Your first platform was a platform that was technical. You know building aplatform to connect up, plyers and buyers of Hempen, weeds and Marianaproducts to then now very much a very like a physical prod, actually creatingsomething and selling it you've gone across the whole range of differentkind of industries and careers, almost in some ways to from also workingwithin 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 peoplelistening to this, who are entrepreneurs now that you've had thatexperience? What would you advise them in terms of getting started with theirfirst project? Do you think it's best to start with something that isphysical, with no investors or go digital and get investors? What do youthink is the best combination for a day, one founder, if there is an answer forthat? I don't know. If there's an answer for that, I think I think it'sabout very much surrendering to the journey. You know in your first start,it's all about keeping your overhead really low. I was really great, but wewere really young. We didn't take a pay check for a long time. I mean there wasa point with candidates where I told my car- and I was like great- We got twomonths living in the bank, I mean we put everything into Canobas and thehours were really really extreme, and that was also part of that techenvironment. You know in the tech environment you can, you have peoplethat can work around the clock and can just build, and so you have to bekeeping up with that, which is a very different pace than having a physicalbusiness. Physical business has been much slower. You know you're workingwith a retail or your weeks and between conversations and but then things move.You know, then, all of a sudden order, coster and you you love a lot ofproducts, so they're very different paces. I think it's about looking atyour stage in life and how much you have. What kind of a life do you wantto 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 livingmore of that g lifestyle. I don't know if I could do what I did with the TechCompany today, even just a thirty four compared to twenty four, I had a lot adifferent kind of energy, so but there's so much beauty to justthat. That lean start up model getting started and releasing that MV ofanything and seeing market traction and then investing. You know one somethingis working. There is many available, and so getting those ideas just off theground and really knowing who your target market is from day one and thenis it resonating for them is probably just the number one question O it's great. Well, I appreciate thetime besides well and let's mention your website, the obvious place for s g.So it's JI, Hi com, great the man, an you picked up there well done any otherwebsite or places you want to send people now. I the website s a greatplace to start okay, and you can check out all your products there. Yeahthanks for sharing the full Jennifer back story. It's been a fun ride and Ican tell it's very much still going, and I feel like actual want to ask, isMiss Mortham. Is that also something we can still check out is a up and runningstill? No, it's got actually it's very sad or maybe it's very divine. Istopped paying attention after I had my daughter. I gave birth, I wasn't payingattention for a couple months and I didn't pay my media temple bill andthey took a sight down on so I still have the domain and I still have thebackups, but it was like kind of this life transition of having a daughterand all of a sudden, Miss Marpsas was...

...done and it was like wellprofessionally. Maybe miss marvises should be down so I've. Let it staythere fair enough. Okay, well, G COM is definitely the place to go right now,but now I appreciate the time and the inside ins of the can of the space it'sbeen wild. It feels like it's still very wild for anyone who's getting intoit, and I think your insight will give them by the courage or maybe they'llstay away. I don't know it a result of what you said, but now I do appreciatethe the inside. Thank you absolutely h. A D maybe stay way. It is very talented.It's a roller coaster. So, if you're looking for an adventure, I wouldcontinue to call it an adventure. Okay sounds good. Thank you. I hope youenjoyed that interview with Jennifer back and appreciated the detail shewent into regarding her two companies Gh and Canobas, including the exit ofcannabis as well. I was fascinated by the whole story. Now, if you want toget all the interviews I release in the future, as well as access to the entireback catalogue of vested capital and my previous podcastepisodes as well. Allyou have to do is subscribe pick whatever APP. You currently use whetherit's POTII apple, Google, Amazon, any of the other third party one stitchertune in and so on. You will find the show there just look for a bestedcapital or my name Yaro, and hit the subscribe bottom. You can accesseverything it's ours free and I appreciate if you do subscribe. Also,if you think this episode in particular would be helpful to any friend orfamily members, you might have maybe they're getting interested in the countof his space or building a marketplace or creating physical product. Send thisepisode to them. It's best to capital episode, number seven, send an email,send them a inside message. What's up text message, whatever social mediaplatform you use and tell them to check out vested capital episode, numberseven I'd appreciate it. I'm sure they'd appreciate it and that's it. Myname is Yao and I'll talk to you on the very next episode by Bye.

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