2026-07-14
Everyone in cannabis is trading the same doom narrative: markets are cooked, exits are dead, small operators are done. Seth Yakatan, who has sold 22 companies and raised over a billion dollars across 30 years, sits down with Jason Reposa to argue the opposite. His frame is simple and uncomfortable. Profit solves everything, sales solves nothing, and the operators quietly winning are the ones nobody wants to talk about.Seth walks through the state-by-state door economics he tracks every week, from Maryland stores clearing $11M each to the Arizona market conventional wisdom keeps calling dead. He explains why Massachusetts is about to become a buyer's market, where the real M&A money will actually come from, and the one question he asks every founder before anything else: why did you do this? Along the way he covers schedule three, Chapter 15 bankruptcies, the unicorn companies defying the odds, and why the exit most founders are waiting for does not exist.21+ where legal. Nothing in this episode is investment, legal, or financial advice. Listen to the full conversation on High Functioning.