Digital marketing agency 420MEDIA and the Marijuana Business Association (MJBA) have joined forces to create a series highlighting entrepreneurs trailblazing the cannabis scene. Each week, we’ll profile a noteworthy business pioneer, and ask each 5 questions. This week’s featured trailblazer is Alan J. Brochstein, CFA, Partner at New Cannabis Ventures and Analyst & Portfolio Manager for 420Investor.
1. Tell us about your Company
I run two companies. 420 Investor, which I founded in 2013, is the leading source of information for publicly-traded cannabis stocks and an interactive community with over 1000 members. New Cannabis Ventures, which I co-founded with my partner, Joel Theard, in 2015, is the leading source of cannabis business news information as measured by site visitors. Both sites share a common goal of serving as a filter of information for cannabis investors and entrepreneurs.
2. Why did you choose the cannabis/hemp business?
I was fortunate to already have a deep passion for cannabis legalization on moral grounds before I stumbled upon the sector in early 2013 and was able to quickly apply my skills that I had already developed. I noticed a void in real financial analysis at this early stage of the industry’s development.
3. What change will your firm address in the industry? Does it address an unmet need?
Both of my businesses have indeed met an unmet need. There is an information overload, and investors struggle to separate the hype from the reality. Unfortunately, the many opportunities for our industry attract lots of opportunists. Both 420 Investor and New Cannabis Ventures provide their audiences with a focus on the real entrepreneurs and investors in the space. I think that we have also led the way on providing useful data on publicly-traded companies to our readers at New Cannabis Ventures.
5. What has been the reaction to your product/service/technology?
Not a day goes by that I don’t receive some sort of affirmation that both 420 Investor and New Cannabis Ventures are providing value. 420 Investor has helped members to become better educated and to prosper, and it has generated excellent reviews. Similarly, we get excellent feedback from our readers at New Cannabis Ventures, whether it is notes that we receive from them or the excellent reviews for our news app.
6. Are there any upcoming milestones for your company?
We are adding staff at both 420 Investor and New Cannabis Ventures, which is exciting. We have some really neat initiatives we are pursuing at NCV to give our readers even more resources and data, so stay tuned!
Where can readers learn more?