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Canada officially made weed legal for all uses yesterday, but are share prices too extreme for the budding industry? The Hustle Sponsored by The day has come: Weed is now fully toke-friendly in Canada Yesterday, Canada officially became the first...
By: Wes Schlagenhauf
October 18, 2018
Canada officially made weed legal for all uses yesterday, but are share prices too extreme for the budding industry?
The day has come: Weed is now fully toke-friendly in Canada
Yesterday, Canada officially became the first major economy and the second country in the entire world (behind Uruguay; who knew?) to legalize marijuana for all uses.
We couldn’t be happier for our neighbors to the north for puff puff passing the legislation — although they probably should’ve waited until 4/20.
The weed-gates have opened...
And the front-runner is a company called Canopy — the first Canadian marijuana grower to debut on the New York Stock Exchange with a valuation of more than $10B.
For perspective on how big the world’s new money-making industry is, according to The New York Times, Canopy is now worth more than Canadian company Bombardier, one of the largest airplane and train manufacturers in the world.
Hell, even big bev is pushing its chips into the marijuana game. Companies like Molson Coors and the maker of Corona (who is reportedly spending $191m to develop weed-infused beverages).
But, some believe the hype is too damn high
Aswath Damodaran, AKA Wall Street’s “Dean of Valuation,” believes pot stocks are inflated, saying none have provided “compelling enough stories” to back up their price tags. Come up with a more compelling nickname then we’ll talk, Aswath.
In the meantime, Mean Dean Damodaran (just throwing out options here) recommends investors “stay out for the moment.”
Oddly enough, as Canada opened its dispensary doors nationwide, pot stocks actually came down -- With Canopy and other front-runners Aurora Cannabis and Tilray stock dropping a collective 24.4%.
Dirty Deans and the down dirt cheap
Icon, a 3D printing startup, raised $9m to revolutionize homeownership
Icon, a startup that 3D-prints homes in 24 hours, raised $9m in seed funding to expand its affordable housing projects across the globe.
Thanks to tech that reduces 3D home-printing costs to as low as $4k, Icon is one of several companies trying to revolutionize homeownership -- much like Sears (pour one out) did a century ago.
Icon’s house-printing apparatus, Vulcan, works by stacking ¾-inch layers of concrete like zigzags of ketchup on a well-crafted, all-beef frank.
The company has already constructed a fully functional prototype near its Austin headquarters. In partnership with housing nonprofit New Story, it plans to build an entire community of $4k houses in El Salvador in the next 18 months.
A home-building revolution for the 21st century
Icon is just one of several companies trying to deliver a cheaper, faster home-building solution: Other startups also offer 3D-printed homes, and Amazon released a $36k shipping container house earlier this month.
But, neither Icon nor Amazon is the first for-profit company to revolutionize home-building — Sears did it first.
Between 1908 and 1940, Sears sold 70k+ mail-order kit homes (in 400+ varieties), making houses cheaper for buyers. Now, Icon is trying to take a page out of Sears’ book. They’re just skipping chapter 11.
Subscription box businesses aren’t pulling any punches in the fight for $2.6B
The value of the subscription box industry increased from $57m to $2.6B in just 5 years, attracting more than 3.5k would-be subscription box champions to fight for their chunk of the prize-money.
While some subscription box businesses make it to the multibillion-dollar big time, many more are just trying not to get knocked out in the first round.
Eyes on the prize
The heavyweights rake in big bucks: Razor-box Dollar Shave Club sold for about $1B and fashion-box Stitch Fix is worth more than $2B.
Other companies are also punching above their weight to sell niche products ranging from dog biscuits to sex toys -- and some are succeeding. FabFitFun, the Apollo Creed of trendy hand creams and eye shadow products, has grown 300% annually.
But 47% of today’s subscription boxes launched within the past year, meaning there are plenty of contenders swinging for the purse...
And there can only be so many champions
You know the market is saturated when people launch businesses to launch other people’s businesses, but Cratejoy.com does just that with posts like “8 Simple Steps” to succeed as a subscription box biz.
In reality, it's hard for most subscription box businesses to stay on their feet; more than 1 in 10 went bankrupt in the early rounds, and others are taking a slow beating, selling for less money than they raised to pay off their debt.
So all we’re saying is this: If you’re planning to sink your life savings into your brother-in-law Ted’s hedge-clipper subscription box, just be ready for a financial black eye.
26 years after its cable debut, the show is breaking boundaries once again with an interactive aspect that allows fans to vote on the final cast member through Facebook Watch Party’s synchronized viewing and chat platform.
7 strangers picked to live on a platform
The Real World is Facebook’s first big tent-pole for Watch after its debut in August 2017, and it’s coming just as the platform picks up steam.
50m people now spend at least 1 minute per month on Watch, with total view time up 14x since the beginning of 2018.
Now, the big book of faces is hoping to beat out premium competitors like YouTube Originals and Snapchat Discover in the battle for mid-length social video supremacy.
But, will anyone care?
So far… not really. There’s just too much content to compete with, and it’s only getting worse.
Last week, Snapchat announced 12 original shows, and that’s not to mention the rate at which platforms like Netflix and Amazon Prime sling new hot ‘tent (Netflix is also working on interactive content).
Plus, The Wall Street Journalreports that Facebook underreported just how bad its video ad view time metrics were inflated after catching a bug a few years back and now, studios may be skeptical that it’s a worthy investment.
That said, “The Real World” is awesome and gross and impossible to look away from — and it could be just what Facebook Watch needs.
Maybe it’s the fact that they give you everything you want --tons of features, free support -- and nothing that you don’t --goodbye, annual contracts.
Or it’s the fact that no other marketing automation platform is this damn easy to work with. But the way we see it, it’s probably a bit of both
You’ve got enough on your plate, so leave the nuts and bolts to them
Here’s the nutshell pitch: SharpSpring helps make the most of every client, every time.
They’re focused on making marketing easy for you, whether that means giving your agency better client management tools or just making sense of your client’s fragmented funnel -- which is, like, exactly what they hired you to do. Hell, even the free demos are painless.
We could talk all day, but like you, we’re more of do-ers. Give their demo a shot today and see what all the fuss is about.
BLOCK: Every screen in the “real” world with these shades, $49
This Kickstarter project wants to shield your eyes from our LCD overlords. The IRL glasses use a special filter to block the light emitted from TVs and most computers. The result? Face blinders for every screen you peep.
CHARGE: Your iPhone X with this built-in solar cell, $4600
What do you get when you take a ridiculously expensive smartphone and slap a ludicrously expensive solar panel on the back of it? The Tesla X iPhone by Caviar -- a Russian company specializing in custom iPhone mods and friends of Steven Seagal and Fred Durst (seriously, look it up).
CHEW: On this never-ending-flavor electrified gum, Who knows
Researchers at Meiji University in Japan have created an electric tongue zapper capable of making gum taste like, well, anything. The device exploits the -- science alert -- piezoelectric effect, which tricks your t-buds into tasting any flavor forever (in theory).
LEARN: What makes great businesses so damn great, Free download
Hired polled tech talent all over North America and Europe to get the inside scoop on what makes a company a killer place to work -- like a great culture, benefits, dolla dolla bill bonuses, and more. If you’re looking for your next big role (or you’re trying to recruit top talent), click below to download Hired’s 2018 Global Brand Health report.
FIND: The best utilities at the best price, Free account
Arcadia Power’s online platform monitors the electricity market in your area to hook you up with newer, lower rates and renewable energy sources you can feel good about. How? Sign up for their alerts, connect them with your current utility account, and let the deals roll in.