One of the loudest complaints regularly leveled against the legalized cannabis industry is that there are, in fact, too many millionaires in the mix already.
As bottlenecks keep equity applicants waiting in numerous jurisdictions across the United States, those with the capital to jump into the market feet first have enjoyed some serious zeroes in their banks accounts over the past two years. One need look no further than the sordid legacy of former MedMen CEO Adam Bierman for a compelling argument against bringing millionaires into the fold.
Unfortunately, it’s tough to pitch a series called “Next Community-Focused Marijuana Entrepreneur Who Earns Enough to Make a Living But Doesn’t Extort the System for Profit” to most networks. As a result, viewers will instead be invited to watch the debut of “Next Marijuana Millionaire” — a new series set to premiere on streaming services like Amazon Prime, Apple TV and Pluto TV on August 15.
Hosting the program is Michael “Big Mike” Straumietis, perhaps best known as the founder of Advanced Nutrients, which bills itself as the “top-selling cannabis fertilizer brand in the world.”
Straumietis makes for a logical choice to serve as the face of the series given his long and successful tenure as an executive within the industry. In addition to starting Advanced Nutrients in 1999 (a company which currently boasts over $110 million in annual revenue), MG Retailer reports that Big Mike has also consulted on pot-themed Hollywood projects like “Weeds” and “Pineapple Express.”
Now, he’ll reportedly oversee a contest featuring 16 “budding entrepreneurs” who will vie for a grand prize of $1 million as well as the opportunity to form a partnership with Straumietis himself. …”
Read the full article by Zack Ruskin at Bloom & Oil.
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