MedMen was America's largest and most valuable legal cannabis retailer. But until the latest update, the golden pot company has burnt down and lost 95% of its value. News is running hot, lawsuits are waiting, so what has gone wrong here with the Apple of the pot industry? And for cannabis start-ups, what mistake to avoid falling into the same tragic ending?
About MedMen - The Apple of the Pot
MedMen was the first-ever mainstream, national cannabis consumer brand in the States. Co-founder Adam Bierman was said to be the 'Steve Jobs of Weed'. Which according to many, is due to his aggressive entrepreneurial style and vision for MedMen in years to come.
Bierman aimed at recontextualizing cannabis use and separating his company from the 'stoner' stereotype. He wanted to reach out and hit hard into others' niches, and truly crave out his empire of cannabis.