The Rise and Fall of MedMen Shows that the Cannabis Industry is Full of Lessons. But is Anyone Actually Learning?

Article by Anisha Dhiman, Regina Leader-Post

World NewsNewsLegislationLegalizationInvestingBusiness The rise and fall of MedMen shows that the cannabis industry is full of lessons. But is anyone actually learning? Author of the article:Anisha Dhiman Showgirls hold cannabis flowers during the grand opening of MedMen in Las Vegas in 2018. BRYAN STEFFY/GETTY IMAGES FOR MEDMEN Grand Opening Of MedMen Downtown Las Vegas LAS VEGAS, NV - JULY 18: Showgirls hold cannabis flowers during the grand opening of MedMen Downtown Las Vegas on July 18, 2018 in Las Vegas, Nevada. (Photo by Bryan Steffy/Getty Images for MedMen)

Craig Wiggins, co-founder of The Cannalysts, is direct and forthright when he likens the cannabis industry to the opening of Saving Private Ryan: “Only a few successful companies will make it off the beach.”

For the longest time, it was thought that MedMen, a chain of cannabis dispensaries from California, wasn’t just one of the few successes, but a leader in an industry that desperately needed one. It was special: a trailblazer, a standard to which other companies could look. MedMen was one of “those rare startups that exceed $1 billion in enterprise value,” reports POLITICO.

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