With the latest mega-buyout of LA-based CBD brand & Hollywood's darling, Lord Jones this week, heads are spinning on what this means for the CBD space in general. With a $300 million price tag, it's no wonder. Canadian company Cronos Group picked up Lord Jones for $225 million in cash and the rest in stocks to add to their rapidly expanding portfolio of cannabis brands with their goal of "...striv[ing] to improve people's lives and generate long-term value for our stakeholders."
We're Californians, so the tired trope that Silicon Valley has worn to the bone of "improving people's lives" falls as flat as yesterday's avocado toast. However, cliché slogans are still not immune to scrutiny so buckle up, here we go.
With the latest mega-buyout of LA-based CBD brand & Hollywood's darling, Lord Jones this week, heads are spinning on what this means for the CBD space in general. With a $300 million price tag, it's no wonder. Canadian company Cronos Group picked up Lord Jones for $225 million in cash and the rest in stocks to add to their rapidly expanding portfolio of cannabis brands with their goal of "...striv[ing] to improve people's lives and generate long-term value for our stakeholders."
We're Californians, so the tired trope that Silicon Valley has worn to the bone of "improving people's lives" falls as flat as yesterday's avocado toast. However, cliché slogans are still not immune to scrutiny so buckle up, here we go.
Zoom in a bit, and you'll see…