This is an overview of the cannabis industry I prepared in early 2019, as part of an interview process with a leading US growth and crossover investing team.
It’s a comprehensive industry analysis based on the same frameworks I have used in my other buyside experience, and, unlike the work I have produced for my employer, shareable.
Several of my conclusions, particularly around medical marijuana’s ability to displace opioids and the risk of oversupply in the Canadian market appear to be borne out by more recent data (for example, in this study on MMJ and opioids and this newspaper article).