The Lede, Wednesday, August 15, 2018
By David Royse
Miles Away From Ordinary
Big Beer is betting big on cannabis being big too.
Cannabis going mainstream got a huge vote of confidence today when one of the world’s biggest beer companies, Constellation Brands, announced it is upping its investment in what is already one of the world’s biggest corporate cannabis companies, Canopy Growth to the tune of another $4 billion American. Constellation is the company behind Corona Beer in the United States.
Canadian company Canopy Growth, already ambitious in terms of seeking out market growth opportunities around the world, immediately said it’s taking Constellation’s beer money and looking for ways to move closer to world domination.
“You know as we look around the world, we’re going to be expanding production, we’re going to be doing more research, we’re going to develop more intellectual property, we’re going to create more leading brands, we’re going have more products and we’re going to be way more global,” Canopy Growth CEO Bruce Linton said this morning on a conference call after Constellation announced it would up its ownership stake in the cannabis company to 38 percent. “This is about growth around the globe.”
As a big player in the beer industry puts its money behind the notion it may one day have to worry about losing some market share to cannabis, a major concern in New York state, which is considering making cannabis legal for non-medical purposes, is one of the things that has bedeviled the alcoholic beverage industry for decades – how to keep users of its products from causing mayhem on the roads.
One interesting development in that regard: a breathalyzer test will soon be available that could detect use of marijuana. More from the Rockland Westchester Journal News.
Notes From the Age of Disruption
The Los Angeles Subway
Is about to be the first mass transit system in the US to install body scanners to screen passengers for weapons. AP
Is giving some details about its 5G rollout. CNBC
Saw a good first couple of months after the legalization of sports betting in New Jersey. LedeTree
Is making a jacket out of graphene. Fast Company
UPCOMING CONFERENCES, TRADE SHOWS AND MEETINGS
Cannabis World Congress and Business Expo
Sept. 26-29, Los Angeles
Thanks for reading.