Loaded Question: Should the problems in New York be a red flag for future social equity programs?
Jeff 
| CEO | GetHerb.Co
“Every state that has had social equity programs has had one problem or another. New York is not unique in that way. Most offerings for social equity programs don’t set the applicants up for success. There needs to be ongoing business and financial support once they are awarded.”
Nicolas Guarino | CEO | Naturae
“The attempt that New York made at social equity should serve as a very important learning ground for any new states contemplating their social equity initiatives, on every front, but especially on timing and funding. Ultimately, many of the mistakes in New York were avoidable, especially the codification of the social equity program into law and the speed of funding social equity licensees. Both these factors, in my opinion, are the main reasons leading to the failure of the Marijuana Regulation and Taxation Act’s small business and social equity-focused goals (which were well intentioned but not well executed) for the New York market. Other states can avoid this pitfall by studying New York and setting up a plan that prioritizes the speed of retail opening in parallel to production opening, not subsequently, and that also means fast availability of funding for qualified social equity licensees who do not have access to capital otherwise.”
Madison Shockley | CEO | Cadre
“The fact that places like New York and California have adopted social equity legislation is a positive thing, but the challenge of creating an equitable society is bigger than the cannabis industry alone. No existing equity programs to date have been stellar but I think there are best practices that can be gleaned from each state that takes on the mission of righting the wrongs of the War on Drugs.”
Breanna Neff | Chief Food Scientist | Brelixi
“While the simple answer is yes, the complex truth is that expecting government social equity programs to truly achieve social equity is overly optimistic. Throughout American history, such initiatives have yet to yield widespread results. New York City consistently falls short in meeting social equity requirements for contracting and personalized education. If the unemployed and children aren’t benefiting, why would the cannabis industry? We should focus on what we need from our politicians and citizens to ensure future social equity initiatives succeed. Until politicians prioritize lasting solutions over press releases, we’ll continue to see underwhelming outcomes.”
Drew Harriss | Director of National Accounts | Qredible
“I think there are a lot of issues going on in New York but in regard to the future of social equity, I think these types of cases you are seeing in NYC could be a trend. The process you have to go through is so time-consuming. If the states make people wait even longer, they will grow restless and when there’s a case like the one in NYC, they will have no other choice but to speak up.”
Kim Prince | CEO | Proven Media
“New York bungled their entire cannabis launch. They have lost millions of dollars in tax revenues by allowing non-licensed companies to operate. They’ve got a lot of work to do in order to correct their mistakes and give social equity winners, and the entire industry, a chance for success.”
Christopher Peak | Consultant | Pipeline
“Honestly, we should always be learning and adjusting from failed or misguided strategies, no matter how meaningful the intent of those policies and strategies. You don’t throw the baby out with the bathwater. Learn from what works and disregard the rest. The intent of social equity programming is appropriate and necessary. Not just in the canna space — we need to be able to effectively resolve the misguided and abusive policies of the past everywhere we can. How we do this is complicated and requires the ability to learn and adjust. Requires it.”