High Spirits: The Cannabis Business Podcast

AnnaRae Grabstein and Ben Larson
  • 4.7 (12)
  • ENTREPRENEURSHIP
  • UPDATED WEEKLY

Hosts Ben Larson and AnnaRae Grabstein serve up unfiltered insights, reveal their insiders' perspectives, and illuminate transformative ideas about the cannabis industry for people who want to make sense of it all.

  1. TWICL (May 15, 2026) - DEA Registration Wave, GA's Medical Milestone & What Earnings Season Told Us

    4D AGO

    TWICL (May 15, 2026) - DEA Registration Wave, GA's Medical Milestone & What Earnings Season Told Us

    Join the teams from Cultivated, High Spirits, and Cannabis Musings for your weekly roundup of the biggest stories in cannabis. The DEA just announced it's opening a new registration window for cannabis manufacturers, growers, labs, and distributors — and with nearly 400 dispensary applications already in the pipeline, the race is on. We break down what operators need to know before applying, including the disclosure questions that are most likely to sink an application. Then we're joined by Judson Hill of Fine Fettle for a live segment on what Georgia's newly signed medical cannabis expansion means on the ground — what changed, who it affects, and what comes next for one of the more closely watched state programs in the country. We'll also get into: Brazil's opening cannabis market — the regulatory frameworks, foreign capital flooding in, and why local partnerships are everything Indiana's Republican push for medical cannabis in 2027 — and how Trump's rescheduling move is giving political cover to fence-sitters The East Coast Eighth Index — four of five tracked states hit all-time pricing lows in May, and price convergence is accelerating across the region Earnings season recap — what we learned (and didn't) from a busy week of cannabis financials, including our conversation with Cronos Group CEO Mike Gorenstein This Week in Cannabis News is produced by Cultivated, your daily source for cannabis industry intelligence. Subscribe at  https://cultivated.news. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    28 min
  2. #138 - Unmasking Cannabis Pathogens with TUMI Genomics CEO Melanie Nash

    4D AGO

    #138 - Unmasking Cannabis Pathogens with TUMI Genomics CEO Melanie Nash

    In an industry squeezed tight by relentless global price compression, cannabis operators can no longer afford to pay a premium for operational inefficiency. Yet, an invisible enemy is quietly draining up to 40% of cultivation yields across the country. About This Episode In this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein go back to the roots of the industry to explore the critical, often misunderstood world of plant genetics and pathogen prevention. They sit down with Melanie Nash, CEO of TUMI Genomics, to pull back the curtain on how commercial operations are inadvertently spreading devastating crop diseases and why treating pathogen management as a business system—rather than a crisis response—is the ultimate lever for protecting wholesale profit margins. What You’ll Learn The Invisible Profit Killers: The big three pathogens—Hop Latent Viroid (HLVd), Fusarium, and Pythium—and why HLVd alone is costing untested facilities roughly 1 in every 10 pounds produced.The Tissue Culture Myth: Why standard tissue culture is just "mini-cloning" and the crucial scientific difference behind true apical meristem tissue culture for cleaning genetics.Ag-Style Operational Infrastructure: How sophisticated cultivators are shifting away from risky, time-consuming in-house pheno-hunting to focus on strict quarantine and preventative testing protocols.CEO Evolution & Scaling with AI: How Melanie transitioned from a hands-on COO to a strategic CEO using the EOS framework, while leveraging data and AI to build predictive pathogen tracking models. Meet the Guest Melanie Nash is the Chief Executive Officer of TUMI Genomics. She brings over a decade of deep operational infrastructure experience across the cannabis supply chain, moving from early retail management to leading large-scale nursery operations in California. Previously serving as COO at Dark Heart Nursery—where her team first identified Hop Latent Viroid in cannabis—and later as COO at Purple City Genetics, Melanie possesses a rare blend of deep scientific credibility, operational instinct, and a passion for helping cultivators build scalable, disease-free business models. Why Tune In? If you are a cannabis executive, entrepreneur, or cultivation director, this episode is a masterclass in operational risk management. You will walk away with actionable insights on how to secure your supply chain, audit your testing lab’s scientific validity, and stop catastrophic crop losses before they hit your P&L. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    57 min
  3. #137 - The $11B THC Beverage Roadmap with Jason Zelinski (NielsenIQ)

    MAY 15

    #137 - The $11B THC Beverage Roadmap with Jason Zelinski (NielsenIQ)

    Is the "Christmas of BevAl" about to change forever? While federal policy looms like a shadow, the world’s largest retailers and data giants are leaning into a category that is proving to be 100% incremental to the bottom line. About This Episode: In this episode, Ben Larson and AnnaRae Grabstein dive deep into the numbers with Jason Zelinski, VP of North American Retail at NielsenIQ. As one of the most prominent voices translating THC beverage performance for mainstream retail, Jason shares exclusive insights into why Target is expanding its hemp-derived drink program and how data is finally legitimizing the cannabis-adjacent market. What You’ll Learn: The "Target" Strategy: Why a $107B retailer is expanding into 300+ stores just six months before a potential federal ban.The Incrementality Argument: Proof that THC beverages aren't just "robbing Peter to pay Paul" but are actually bringing net-new customers to retail.The $11 Billion Prediction: Jason breaks down the "back of the napkin" math on how big this category could truly become with full distribution.Consumer Trends: Why 10mg is becoming the new "sweet spot" for shoppers and why soda is the leading form factor for new adopters. Meet the Guest: Jason Zelinski is the VP of North American Retail at NielsenIQ. With two decades of experience at the intersection of retail and data—including a ten-year tenure in merchandise operations at Walmart and Sam’s Club—Jason has become a critical bridge between the emerging THC market and traditional CPG. He is a leading expert on how grocery, convenience, and mass-market channels are adapting to the explosion of hemp-derived beverages. Why Tune In? If you are an operator or investor, this is the data-backed roadmap you’ve been waiting for. Learn how to speak the language of "Category Management" to get your products on mainstream shelves and understand the critical benchmarks for the industry as we head toward the 2026 "July 4th Christmas." Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    52 min
  4. #136 - Rescheduling Financial Deep Dive with Gail Rand & Michael Harlow

    MAY 6

    #136 - Rescheduling Financial Deep Dive with Gail Rand & Michael Harlow

    The DEA has finally spoken, but the path forward for cannabis operators is far from simple. As we move into a post-rescheduling world, the industry is bracing for a complex, bifurcated future that could redefine winners and losers overnight. About This Episode:  On this episode of High Spirits, hosts Ben & AnnaRae go deep into the technical and human sides of the rescheduling order with two of the industry’s sharpest minds: Gail Rand (Founder of Grand Consulting) and Michael Harlow (National Cannabis Lead at CohnReznick). We explore the potential for retroactive 280E relief, the looming battle for market share, and why your business fundamentals matter more now than ever before. 💡 What You’ll Learn: The 280E Retroactivity Debate: Can operators actually expect tax refunds for prior years, and how should you be planning your cash flow today?The Bifurcation Challenge: Why the industry might split into distinct Medical vs. Adult Use silos and what that means for your licensing strategy.M&A and the Horizontal Shift: How the move toward Schedule III could trigger a wave of consolidation and a departure from the traditional vertical integration model.Operational Readiness: Why "cleaning up your books" is the most critical move you can make while waiting for federal agencies to harmonize their rules. 🌟 Meet the Guests: Gail Rand is a CPA and the Founder of Grand Consulting, bringing over 30 years of finance expertise to the industry. Her journey began as a patient advocate, helping pass Maryland’s medical cannabis legislation to secure access for her son, and she eventually became the CFO of the state’s first cultivation licensee. Michael Harlow is the Managing Partner of CohnReznick’s DC Metro office and leads the firm’s National Cannabis Practice. With a decade of experience advising everyone from single-site dispensaries to the largest MSOs, Michael is a preeminent expert on the tax, accounting, and regulatory hurdles facing cannabis businesses. 📅 Why Tune In? If you are an operator or investor trying to make sense of the "gobbledygook" of federal policy, this conversation provides the roadmap you need. Ben & AnnaRae cut through the noise to help you understand how to protect your margins and position your business for the next era of American cannabis. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    1h 1m
  5. TWICL ( May 1, 2026) - Cannabis Rescheduling: What We Still Don't Know

    MAY 4

    TWICL ( May 1, 2026) - Cannabis Rescheduling: What We Still Don't Know

    It's been one week since cannabis rescheduling to Schedule III was announced — and the questions keep multiplying. Jay Rosenthal, Marc Hauser, and Ben Larson unpack the real-world implications for operators, lawyers, accountants, and states navigating this seismic shift. In this episode: The DEA registration question: does it matter for 280E relief? The "Schrödinger's Cannabis" problem — how the same product can be Schedule I and Schedule III simultaneously State-level ripple effects: South Carolina, Nevada, Indiana, Texas, and more The 60-day application window and what it means (or doesn't) Congressional pushback: an appropriations bill that could defund rescheduling? Political dynamics: Trump, Kim Rivers, and the hemp connection 4/20 data: pre-rolls dominate, infused pre-rolls surge nationally Plus clips from Mike Feldman (NABIS General Counsel) and Rick Bashkoff (Lit Alerts) on what rescheduling means operationally and at retail. Hosts: Jay Rosenthal, Cultivated Marc Hauser, Cannabis Musings Ben Larson, High Spirits Streamed live May 1, 2026 Join us every Friday at 12PM ET / 9AM PT 🔔 Subscribe for weekly cannabis industry analysis, news, and live conversations. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    24 min
  6. #135 - The Rescheduling Order: A Legal Deep Dive

    APR 29

    #135 - The Rescheduling Order: A Legal Deep Dive

    Is it time to get giddy or stay skeptical? The federal rescheduling of cannabis is the biggest regulatory shift in decades, but it comes with a complex web of DEA registrations and international treaty considerations. Join Ben Larson and AnnaRae Grabstein as they sit down with top legal minds Alyssa Samuel (Husch Blackwell), Eric Berlin (Dentons), and Michael Cooper (Madison J Solutions) to unpack what happens when the DEA portal opens and how you can position your business to be a winner in this new era. 💡 What You’ll Learn: The DEA Registration Roadmap: How the new 60-day registration window works and why being "deemed compliant" is the first step toward federal legality.The Interstate Commerce Conflict: Will Schedule III trigger the Dormant Commerce Clause and finally break down the "closed-loop" state systems?Banking & Capital Markets: Why Schedule III status could be the "mic drop" moment for NASDAQ listings, SBA loans, and institutional investment.The Future of Adult-Use: The legal hurdles involving international drug treaties and the upcoming June hearing that could decide the fate of recreational markets. 🌟 Meet the Guests: Alyssa Samuel: An attorney at Husch Blackwell with over a decade of experience in the Colorado and multi-state markets, specializing in complex regulatory compliance.Eric Berlin: Lead of the US and Global cannabis sector at Dentons, the world’s largest law firm, bringing 18 years of specialized cannabis legal expertise.Michael Cooper: Founder of MadisonJay Solutions and Chair of Policy for the NCIA, Michael is a leading voice in regulatory strategy for cannabinoids and spirits. 📅 Why Tune In? The "Knife Fight" for survival just got a lot more technical. If you are a cannabis operator, investor, or policy wonk, this episode provides the direct legal clarity you need to navigate the next six months of federal transition without falling for industry misinformation. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    1h 5m
  7. TWICL (Apr 17, 2026) - 4/20 & Rescheduling — Medical Cannabis Goes Federal

    APR 24

    TWICL (Apr 17, 2026) - 4/20 & Rescheduling — Medical Cannabis Goes Federal

    What does rescheduling really change — in the next 90 days, the next year, and the next decade? Jay Rosenthal and Jeremy Berke  from Cultivated are joined by AnnaRae Grabstein and Ben Larson from the High Spirits podcast and Marc Hauser from Cannabis Musings for a live breakdown of the  stories that defined this week in cannabis. Rescheduling: We're bringing in a special guest to help cut through the noise — what does moving cannabis from Schedule I to Schedule III actually change for operators? What happens to 280E? What does it mean for banking, for institutional investment, for the broader legitimacy of the industry? And critically: what doesn't change at all? Subscribe → https://cultivated.news Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    38 min
  8. #134 - Centralized Strategy, Local Execution: Inside the iAnthus MSO Turnaround w/ CEO, Richie Proud

    APR 22

    #134 - Centralized Strategy, Local Execution: Inside the iAnthus MSO Turnaround w/ CEO, Richie Proud

    Is the "growth at all costs" era of the MSO officially over? According to Richie Proud, success in today's cannabis market isn't about having the most square footage—it’s about operational efficiency, consumer engagement, and a "flower-first" mentality. About This Episode: On this episode of High Spirits, hosts Ben Larson & AnnaRae Grabstein sit down with Richie Proud, CEO of iAnthus. Since taking the helm in 2023, Richie has led a strategic restructuring of one of the industry's most storied public companies. He shares how his background in high-stakes retail at Abercrombie & Fitch and Hollister is shaping the way iAnthus connects with consumers in complex medical markets like Florida and emerging adult-use hubs in the Northeast. 💡 What You’ll Learn: The "Flower-First" Strategy: Why iAnthus is prioritizing craft-quality genetics and cultivation over sheer canopy size to drive brand loyalty.Operational Restructuring: How Richie moved the company from a regionalized model to a "centralized strategy, localized execution" framework.The Florida Market Deep Dive: Insights into the unique medical consumer demographic and why patients "vote with their feet" in a vertical-only state.Transitioning from Big Retail: How to adapt traditional CPG playbooks to the unpredictable and highly regulated world of cannabis without failing.🌟 Meet Richie Proud: Richie Proud is the CEO of iAnthus, a vertically integrated MSO with a significant footprint across the East Coast. With over two decades of experience in retail leadership—including executive roles at Abercrombie & Fitch, Hollister, and Curaleaf—Richie brings a consumer-obsessed, data-driven approach to cannabis. He is currently focused on steering iAnthus toward sustainable EBITDA expansion and refining its portfolio of brands like The Vault and Cheetah. 📅 Why Tune In? If you are an operator or investor looking for a masterclass in the "stabilize and grow" phase of the cannabis business cycle, this conversation is essential. Richie provides a transparent look at how a public MSO can pivot from legacy baggage to become a lean, consumer-centric competitor in 2026. Have a question for us? Send us a text. We may answer it in the next show! -- High Spirits is brought to you by Vertosa and Wolf Meyer. Your hosts are Ben Larson and AnnaRae Grabstein. Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows. THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.  Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

    59 min
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4.7
out of 5
12 Ratings

About

Hosts Ben Larson and AnnaRae Grabstein serve up unfiltered insights, reveal their insiders' perspectives, and illuminate transformative ideas about the cannabis industry for people who want to make sense of it all.

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