In this episode, host Jessie Kater explores the rapidly evolving hemp industry, with a wide range of products being marketed and sold through regulated channels. Jessie welcomes two industry insider guests to shed light on this topic; David Neundorfer, Co-founder & CEO of Open Book Extracts, offers invaluable insights into responsible hemp-derived cannabinoid production. Morgan Davis, a renowned cannabis attorney, provides expertise on the legal aspects of the hemp-derived space and shares advice for consumers navigating this diverse market. The crew discusses the industry's trajectory, regulatory challenges, and hopes for the future, including the upcoming 2023 Farm Bill. They also cover the challenges of obtaining a level playing field in the industry, potential market course corrections, and tips for navigating this ever-changing landscape. **The information, opinions, and views expressed in this podcast are those of Mr. Kater and his guests only and may not reflect the views of Curaleaf or its employees. The material and information presented here is for general information purposes only. Curaleaf does not endorse or recommend any particular product or service discussed, including products containing cannabinoids. Products discussed in this podcast may not be available to all listeners depending upon the residence state of the listener, the listener’s age, etc. Any products discussed in this podcast are not intended to diagnose, treat, cure, or prevent any disease.
Topics of Discussion:
[2:04] David shares his journey of transitioning from automotive manufacturing and industrial automation to the cannabis space in 2017.
[3:03] Open Book Extracts' mission is to be a responsible, trusted, transparent, one-stop shop for ingredients, formulation, research and development, and finished goods manufacturing.
[5:40] Morgan discusses her pathway to cannabis and highlights the fine line between civil and criminal liability in the cannabis space.
[6:09] How Morgan became a leading expert on the legal and regulatory aspects, evolving to the emerging hemp psychoactive market.
[8:43] David and Morgan offer their perspectives on the evolution of the cannabis market and the journey from the 2018 Farm Bill to its current state.
[11:24] How the cannabis industry has outpaced the law and the challenges this presents.
[19:39] Recommendations for manufacturers seeking entrepreneurial opportunities and advice for consumers navigating the hemp market.
[20:09] Why consumers must advocate for themselves, especially in emerging markets with ambiguous regulations.
[32:44] The group discusses whether the current state of the cannabis industry benefits the overall market.
[35:31] David shares his hope for the 2023 Farm Bill, emphasizing the importance of a harm reduction approach and the role of market forces.
[37:06] Creating a safe harbor with specific requirements to attract large retailers and support responsible brands.
[42:18] Morgan shares insights on North Carolina's proposed HB 563 and its potential implications.
[44:53] The significance of comprehending the risks and opportunities in the cannabis market.
[56:25] The group emphasizes the importance of always checking the ingredient panel in hemp-derived products.
[58:22] Opportunities and hope for the 2023 Farm Bill.
[58:55] David advocates for setting a level playing field in the market, allowing for growth and encouraging investment in safety studies for more transparent sharing of results.
Want to Learn More?
Cannabis Unraveled: Instagram
David: Open Book Extracts