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Global IT services firm <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> on Monday launched a generative <keyword id="11035466" type="General" weightage="100" keywordseo="ai-studio" source="Orion">AI Studio</keyword> in India to accelerate the adoption of data and artificial intelligence (AI). With the studio, part of Accenture’s $3 billion investment in data and AI, the company's team and clients will co-create solutions with a modern data and AI foundation, LLM architecture, ecosystems partnerships, talent and responsible AI frameworks. “Clients understand the massive opportunity that generative AI can bring to optimise and reinvent their business, opening up new avenues for growth. “However, to harness the full potential of their AI investments, they need to be value-led in every business capability they choose to reinvent with generative AI. Our Bengaluru studio will help our clients around the globe prioritise capabilities across the entire value chain,” said <keyword id="16898323" type="General" weightage="80" keywordseo="senthil-ramani" source="Orion">Senthil Ramani</keyword>, Global Lead–Data &amp; AI, Accenture. According to a recent Accenture survey, 74 per cent of the C-suite executives plan to increase their AI-related spending in 2024, up from 50 per cent in the previous year, as companies move from proof of concept to customising foundation models with proprietary data. “Our clients across 19 industries now have the opportunity to understand, experiment, adopt and scale generative AI solutions to reinvent functions and business models to achieve new levels of performance,” said <keyword id="10732499" type="General" weightage="80" keywordseo="mahesh-zurale" source="Orion">Mahesh Zurale</keyword>, Global Lead – Advanced Technology Centers Global Network, Accenture. The studio will tap into the strategic investments made in Accenture’s Center for Advanced AI for clients and will draw upon Accenture’s more than 1,450 pending and issued patents in AI, and learnings from over 300 active generative AI projects. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/doms-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/106023986.cms" target="_blank">DOMS IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/india-shelter-finance-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/106078554.cms" target="_blank">India Shelter Finance IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/stock-market/news/nifty-sensex-recover-to-trade-flat-after-opening-in-the-red/articleshow/106078519.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/nifty-sensex-recover-to-trade-flat-after-opening-in-the-red/articleshow/106078519.cms" target="_blank">Nifty, Sensex recover to trade flat after opening in the red</a>

Accenture unveils generative AI studio in India to boost data, AI adoption

<ul class="summary-list"><li><keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis" source="Orion">Cannabis</keyword> startups have raised millions over the past few years.</li><li>Some companies focus on tech while others sell vapes or edibles.</li><li>Here are 17 presentations that companies have used to win funding from investors.</li></ul>Legal <a href="https://www.businessinsider.com/cannabis">cannabis is booming</a>, and a wave of startups have raised millions from <keyword id="6357097" type="DEFINITION" weightage="60" keywordseo="Venture-Capital" source="Orion">venture capital</keyword> firms to tackle different parts of the industry.Cannabis could become <a href="https://www.businessinsider.com/us-cannabis-market-size-projection-100-billion-by-2030-2020-12?r=cannapitch-lp">a $100 billion industry in the US alone by the end of the decade</a>, disrupting industries from alcohol to Big Pharma.But because of hurdles to investing in cannabis — namely, cannabis isn't yet legal federally — the competition is steep among startup founders to win the attention, and dollars, of top investors. Insider has published over a dozen of the <keyword id="11953110" type="UNKNOWN" weightage="60" keywordseo="pitch-decks" source="Orion">pitch decks</keyword> these founders used to win over investors.We've compiled them all below. Check it out: <h2>Cannabis tech is on a tear</h2>Startups like <a href="https://www.businessinsider.com/exclusive-cannabis-startup-fyllo-pitch-deck-26-million-series-a-2020-8?r=cannapitch-lp">Fyllo</a> and <a href="https://www.businessinsider.com/dutchie-35-million-series-b-pitch-deck-thrive-capital-2020-8?r=cannapitch-lp">Dutchie</a> that provide software or tech services to cannabis companies offer a bright spot to investors who want to get involved in the space but can't bet on companies that grow and sell <keyword id="40905" type="PERSON" weightage="60" keywordseo="Marijuana" source="Orion">marijuana</keyword>.Most mainstream venture firms are barred from investing directly in cannabis companies, since THC, the chief psychoactive compound of the plant, is illegal at the federal level in the US. Read more:<a href="https://www.businessinsider.com/exclusive-cannabis-startup-fyllo-pitch-deck-26-million-series-a-2020-8?r=cannapitch-lp">The cannabis-tech startup Fyllo used this pitch deck to land $26 million. Here's an inside look at how it's using AI to shape the future of cannabis retail.</a><a href="https://www.businessinsider.com/cannabis-tech-company-trym-investors-pitch-deck-2020-10?r=cannapitch-lp">We got an exclusive look at the presentation a cannabis-tech startup used to raise $3.1 million by convincing investors its software can help farmers grow better pot</a><a href="https://www.businessinsider.com/dutchie-35-million-series-b-pitch-deck-thrive-capital-2020-8?r=cannapitch-lp">Cannabis startup Dutchie raised $35 million from Josh Kushner's Thrive Capital and Starbucks founder Howard Schultz. Here's an exclusive look at the pitch deck it used to close the round.</a><a href="https://www.businessinsider.com/pitch-deck-cannabis-software-company-canix-raises-25-million-2021-2?r=cannapitch-lp">See the 13-slide presentation that a Facebook engineer and a Wall Street analyst used to convince investors to bet on a new kind of software tool for the cannabis industry</a><a href="https://www.businessinsider.com/cannabis-tech-startup-pistil-data-65-million-pitch-deck-2021-11?r=cannapitch-lp">Here's an exclusive look at the 14-slide presentation that cannabis-tech startup Pistil Data used to raise $6.5 million from Snoop Dogg's venture fund and a cofounder of Wired magazine</a><a href="https://www.businessinsider.com/cannabis-recruiting-startup-vangst-19-million-series-b-pitch-deck-2022-2?r=cannapitch-lp">Here's an exclusive look at the 13-slide pitch deck the 29-year-old founder of Vangst, a cannabis-recruiting startup, used to raise $19 million</a><h2>Distribution is essential, and investors want in</h2>Companies that specialize in getting products from one place to another are essential cogs in the marijuana ecosystem, especially since there are strict regulations around who can transport cannabis and where they can sell it.Companies like Nabis <a href="https://www.businessinsider.com/marijuana-cannabis-distributor-nabis-raises-23-million-series-b-california-2021-6?r=cannapitch-lp">work with brands and cultivators to deliver flowers, edibles, and other products to dispensaries</a>, who then sell directly to consumers.And then there are the retail delivery companies — like <a href="https://www.businessinsider.com/eaze-2020-pitch-deck-verticalization-amid-scaled-back-ambitions-2020-5?r=cannapitch-lp">Eaze</a> — that set up ways for customers to have products shipped directly to their homes. Once hailed as the "Uber of weed," Eaze vastly <a href="https://www.businessinsider.com/eaze-2020-pitch-deck-verticalization-amid-scaled-back-ambitions-2020-5?r=cannapitch-lp">scaled back ambitions in 2020</a>, as evidenced by its <keyword id="9106531" type="UNKNOWN" weightage="60" keywordseo="pitch-deck" source="Orion">pitch deck</keyword>.Read more:<a href="https://www.businessinsider.com/marijuana-cannabis-distributor-nabis-raises-23-million-series-b-california-2021-6?r=cannapitch-lp">Former engineers from Microsoft and Facebook just raised $23 million to dominate a crucial but overlooked piece of the biggest US cannabis market</a><a href="https://www.businessinsider.com/eaze-2020-pitch-deck-verticalization-amid-scaled-back-ambitions-2020-5?r=cannapitch-lp">We got a look at Eaze's 2020 pitch deck, which shows vastly scaled back ambitions as the once-soaring cannabis startup shifts to a new strategy</a><a href="https://www.businessinsider.com/pitch-deck-europe-cannabis-cansativa-15-million-series-b-2022-2?r=cannapitch-lp">We got an exclusive look at the 11-slide pitch deck that a cannabis startup used to sell investors on its unique approach to an untapped market and raise $15 million</a><h2>Cannabis isn't just about flower anymore. Companies are targeting edibles, drinks, and vapes.</h2>Welcome to cannabis consumption in 2021: It's not your dad's old joints anymore. Startups have raised millions to tackle novel form factors of cannabis consumption, from <a href="https://www.businessinsider.com/cannabis-infused-beverage-startup-cann-seed-round-pitch-deck-2019-6?r=cannapitch-lp">THC and CBD-infused seltzers</a> to <a href="https://www.businessinsider.com/herve-3-million-pitch-deck-for-luxury-cannabis-infused-edibles-2021-6?r=cannapitch-lp">luxury macarons</a> to <a href="https://www.businessinsider.com/respira-heat-free-vaping-device-investors-pitch-deck-2020-1?r=cannapitch-lp">medical-grade vaporizers</a>.Read more: <a href="https://www.businessinsider.com/cannabis-infused-beverage-startup-cann-seed-round-pitch-deck-2019-6?r=cannapitch-lp">A VC firm led by a Net-A-Porter cofounder just made a big bet on cannabis beverages. Here's an exclusive look at the pitch deck that helped Cann raise $5 million.</a><a href="https://www.businessinsider.com/herve-3-million-pitch-deck-for-luxury-cannabis-infused-edibles-2021-6?r=cannapitch-lp">We got an exclusive look at the pitch deck luxury-edibles startup Hervé used to raise $3 million in a bid to become the 'Dom Perignon' of cannabis</a><a href="https://www.businessinsider.com/respira-heat-free-vaping-device-investors-pitch-deck-2020-1?r=cannapitch-lp">Respira raised over $2 million to disrupt the embattled vape industry with a heat-free vaporizer. Here's the pitch deck that made it happen.</a><a href="https://www.businessinsider.com/exclusive-look-at-synthetic-cannabis-biotech-hyasynth-pitch-deck-2021-12?r=cannapitch-lp">Here's the 13-slide pitch deck that helped IndieBio-backed Hyasynth land a total of $10 million to produce synthetic cannabis compounds</a><a href="https://www.businessinsider.com/pitch-deck-cannabis-lifestyle-brand-pilgrim-soul-raised-2-million-2022-1?r=cannapitch-lp">See the presentation the former CMO of MySpace used to raise $2 million to build a startup that wants to tap into cannabis-fueled creativity</a><h2>CBD companies are raising cash to fight for a piece of the $20 billion market</h2>CBD, or cannabidiol, is one of the most popular compounds found in the cannabis plant. It doesn't get you high, and it's legal.Since the passage of the <a href="https://www.businessinsider.com/farm-bill-legalizes-hemp-boom-marijuana-cbd-industry-2018-12">2018 Farm Bill</a>, CBD has shown up on store shelves from bakeries to Sephora.Despite the <a href="https://www.businessinsider.com/hemp-legal-cbd-industry-regulators-fda-warning-2018-12?r=cannapitch-lp">murky status of CBD</a>, a wave of startups has raised millions to capitalize on consumer interest in the trendy cannabis compound. Read more: <a href="https://www.businessinsider.com/cbd-startup-kadenwood-50-million-series-b-exclusive-2021-6?r=cannapitch-lp">A hot CBD startup just raised a fresh $50 million — and the CEO said the company is eyeing an IPO as early as next year</a><a href="https://www.businessinsider.com/european-cannabis-startup-sanity-group-29-million-pitch-deck-2021-1?r=cannapitch-lp">Here's the 14-slide pitch deck that cannabis startup Sanity Group used to raise $29 million from some of Europe's top VCs and celebrity investors like Scooter Braun, Alyssa Milano, and Will.i.am</a><a href="https://www.businessinsider.com/b-great-cbd-startup-pitch-deck-used-to-raise-money-2020-8?r=cannapitch-lp">We got an exclusive look at the presentation that wellness startup B Great is using to raise $2.5 million to chase down the $2 billion CBD market</a>

Check out the pitch decks that hot cannabis startups used to raise millions from top investors

Welcome to <keyword id="9884466" type="UNKNOWN" weightage="60" keywordseo="insider-cannabis">Insider Cannabis</keyword>, our weekly <keyword id="621414" type="PERSON" weightage="60" keywordseo="Newsletter">newsletter</keyword> where we're bringing you an inside look at the deals, trends, and personalities driving the multibillion-dollar global <keyword id="14728" type="ENTERTAINMENT" weightage="100" keywordseo="cannabis">cannabis</keyword> boom.<a href="http://newsletter.businessinsider.com/join/cultivated">Sign up here to get it in your inbox every week</a>.We're off tomorrow for the Juneteenth holiday, so you're getting your weekly dose of cannabis industry news on Thursday afternoon.There's a <a href="https://toddharrison.substack.com/p/random-thoughts-all-things-cannabis">rumor</a> <a href="https://twitter.com/BettingBruiser/status/1403405326284693506?s=20">floating</a> <a href="https://twitter.com/JasonGWild/status/1403538551032135680?s=20">around</a> the heavily engaged cannabis Twitter and Reddit-verse that the Toronto Stock Exchange is going to update its rules to allow listed companies to invest in the US cannabis industry. If true, that could be a watershed moment: US cannabis companies like Curaleaf, Trulieve, and Green Thumb Industries, would likely move from the CSE and over-the-counter exchanges to access deeper-pocketed investors plying the TSX.And it's possible that Canadian cannabis companies like Tilray, Canopy Growth, and Cronos Group would decamp from the Nasdaq to the TSX so they could invest in the US.But, a spokesperson for the TMX Group, which owns the TSX, told me, basically, not so fast:"We continue to monitor the evolution of the industry. Our position has not changed with respect to U.S. cannabis law. Nothing more I can add beyond that," TMX Group spokesperson Catherine Kee said in an email.We'll keep monitoring this story. If you have any info to share, please reach out to <a href="mailto:jberke@insider.com">jberke@insider.com</a>. Signal number for encrypted communication available on request. Last, it's great to see so many pitches in my inbox of cannabis companies putting their money where their mouth is ahead of the Juneteenth holiday, in terms of backing organizations, nonprofits, and companies dedicated to advancing social justice goals in cannabis. More of that, please. - Jeremy Berke (<a href="https://twitter.com/jfberke">@jfberke</a>) If you like what you read, share this newsletter with your colleagues, friends, boss, spouse, strangers on the internet, or whomever else would like a weekly dose of cannabis news. Here's what we wrote about this week:<h3><a href="https://www.businessinsider.com/weedmaps-stock-starts-trading-ceo-interview-not-afraid-of-amazon-2021-6">The CEO of $3 billion cannabis-tech company Weedmaps explains why he's not afraid of Amazon</a></h3>The CEO of Weedmaps is ready to take on Amazon - if the tech and retail giant wants to get into cannabis. Amazon recently <a href="https://www.businessinsider.com/amazon-says-its-actively-supporting-federal-marijuana-legalization-2021-6">said it supports federal cannabis legalization</a>. Some industry experts say it's only a matter of time before tech giants start to compete with incumbents like Weedmaps."What we've seen traditionally is the Googles, the Amazons, the others of the world have had difficulty dealing with areas where there are really complex products," Weedmaps CEO Chris Beals <a href="https://www.businessinsider.com/weedmaps-stock-starts-trading-ceo-interview-not-afraid-of-amazon-2021-6">told me in an interview</a>. "I watch and observe, but I don't really worry about those companies coming in because what we do is incredibly complex." <h3><a href="https://www.businessinsider.com/exclusive-trait-biosciences-closes-25-million-series-a-round-2021-6">A cannabis-chemistry upstart just raised $25 million for a new approach to one of the hottest parts of the industry</a></h3>Cannabis beverages <a href="https://www.insider.com/cannabis-seltzer-spirits-get-you-high-quicker-than-weed-edibles-2021-6">are a hot topic in the industry</a>, and a bevy of startups are working on technology to make it easier to infuse chemicals like THC and CBD into drinks. One of those startups, Trait Biosciences, on Wednesday closed a CA$31 million ($25 million) Series A funding round led by Btomorrow Ventures and Gotham Green Partners, the company told Insider. Btomorrow is the VC arm of British American Tobacco, which <a href="https://markets.businessinsider.com/news/stocks/organigram-stock-price-british-american-tobacco-invests-177-million-2021-3-1030173969">invested in</a> a Canadian cannabis producer in March.<h3><a href="https://www.businessinsider.com/cannabis-amc-meme-stocks-retail-investors-shareholders-proxy-voting-2021-6">Meme stock shareholders may have diamond hands, but they're not voting on things like exec pay and M&amp;A deals. And that's creating a big headache.</a></h3>Companies with large retail-investor bases face difficulties reaching a quorum in shareholder votes. "It's hard to get those shareholders to show up and vote," Tilray CEO Irwin Simon told me. "You know, nobody has home phones anymore. No one answers their cellphone to an unknown number. When you mail a proxy to someone's house or apartment, it goes in the garbage."The issue has led to the launch of several startups looking to redefine how public companies interact with their shareholders.<h3><a href="https://www.businessinsider.com/herve-3-million-pitch-deck-for-luxury-cannabis-infused-edibles-2021-6">We got an exclusive look at the pitch deck luxury-edibles startup Hervé used to raise $3 million in a bid to become the 'Dom Perignon' of cannabis</a></h3>Cannabis-infused edibles <a href="https://www.businessinsider.com/cannabis">are having a moment</a>. Edibles sales grew by more than 60% across seven state markets in 2020, according to data provider Headset.To capitalize on that trend, Hervé, a Toronto-based maker of what CEO and founder Sebastien Centner calls "luxury" infused edibles, closed a $3 million Series A funding round in May. Take an exclusive look at the deck Centner used to close the round. <h3><a href="https://www.businessinsider.com/decriminalize-all-drugs-cannabis-heroin-cocaine-2021-6">2 Democrats are pushing for decriminalizing possession of all drugs, including cocaine, heroin, and meth</a></h3>Two House Democrats have for the first time unveiled legislation that would decriminalize possession of all drugs including heroin, cannabis, cocaine, and LSD, and ensure that past drug use wouldn't get in the way of jobs or voting prospects.Democratic Reps. Bonnie Watson Coleman of New Jersey and Cori Bush of Missouri introduced the legislation, the <a href="https://drugpolicy.org/sites/default/files/dpra_summary_2021.06.11_v2.pdf">Drug Policy Reform Act</a>, on Tuesday.<h3><a href="https://www.businessinsider.com/cannabis-company-cronos-pharmacann-110-million-deal-new-york-2021-6">Canadian cannabis giant Cronos is making moves to enter the US. Its $110 million deal with PharmaCann would give Cronos access to New York's $7 billion market.</a></h3>New York is shaping up to be the next hot spot for cannabis M&amp;A. Canadian cannabis giant Cronos recently struck a deal with private US company PharmaCann. PharmaCann is one of the few cannabis companies operating in New York.<h3><a href="https://www.businessinsider.com/cannabis-delivery-services-new-york-market-what-to-know-2021-6">The potential for cannabis delivery in New York as the market comes online - and where to keep an eye out</a></h3>New York is expected to see substantial sales when its cannabis market eventually comes online. A huge part of that growth could be delivery, but regulations still need to take shape.Experts warn activity will be mainly in urban centers and rely on fast, quality delivery service.<div type="image" title="marijuana cannabis" height="2334" width="3500" msid="83620222" hostid="261"></div><h2>Executive moves</h2><ul><li>Cannabis software firm TruTrace <a href="https://www.businesswire.com/news/home/20210616005129/en/TruTrace-Technologies-Names-Robert-Lelovic-as-Chief-Financial-Officer">has a new CFO</a>: Robert Lelovic.</li><li>Travis Goad is joining cannabis real estate fund Pelorus Equity Group as managing director.</li></ul><h2>Deals, launches, and IPOs</h2><ul><li>Cronos Group <a href="https://www.globenewswire.com/news-release/2021/06/14/2246438/0/en/Cronos-Group-Announces-Strategic-Investment-in-PharmaCann-a-Leading-U-S-Cannabis-Company.html">is paying</a> $110 million for an option to buy a 10.5% stake in US cannabis company PharmaCann. The option can be exercised only when a change in cannabis' federal status in the US makes the deal permissible, <a href="https://www.businessinsider.com/canopy-growth-acreage-holdings-deal-could-spur-cannabis-ma-boom-2019-4">similar to Canopy Growth's Acreage deal</a>. </li><li>Berlin-based CBD and medical cannabis startup Sanity Group <a href="https://techcrunch.com/2021/06/16/cannabis-and-digital-health-start-up-sanity-group-closes-44-2m-series-a-led-by-redalpine/">closed a $44 million Series A funding round</a>, led by Swiss venture fund Redalpine, and including Navy Capital and SOJE Capital, among other investors. We got an <a href="https://www.businessinsider.com/european-cannabis-startup-sanity-group-29-million-pitch-deck-2021-1">exclusive look at Sanity Group's seed deck in January</a>.</li><li>US cannabis company Columbia Care is expanding in Colorado, <a href="https://www.businesswire.com/news/home/20210615006157/en/Columbia-Care-Signs-Definitive-Agreement-to-Acquire-Medicine-Man-a-Rapidly-Growing-Vertically-Integrated-Operator-in-the-Denver-Metro-Area">acquiring Medicine Man Denver</a>, which has four retail locations, for $42 million in cash and stock. </li><li>Cannabis tech company LeafLink raised $40 million from investors Nosara Capital, L2 Ventures, Founders Fund, Thrive Capital, and others. LeafLink said the new funding doubles its valuation, without providing a figure.</li><li>Brains Bioeceutical Corp., a maker of EU-GMP certified CBD, <a href="https://www.newswire.ca/news-releases/brains-bioceutical-corp-completes-a-usd-31-9-million-capital-raise-with-lead-investor-dsm-venturing-895462314.html">closed a $32 million funding round led by the venture arm of Royal DSM</a>, one of the world's largest nutrition and ingredients manufacturers. </li><li>US cannabis company <a href="https://www.globenewswire.com/en/news-release/2021/06/14/2246626/0/en/Acreage-Holdings-Announces-Sale-of-Notes.html">Acreage Holdings sold $28 million</a> in promissory notes. </li><li>Cannabis producer Flora Growth is <a href="https://www.globenewswire.com/news-release/2021/06/14/2246437/0/en/Flora-Growth-to-Acquire-Koch-Gsell-and-Enter-Europe-with-Leading-Manufacturer-of-Natural-Swiss-Hemp-Products.html">acquiring Swiss company Koch &amp; Gsell</a>, which makes hemp and blended hemp and tobacco cigarettes under the Heimat brand, in a $22 million cash and stock deal.</li><li>Jay-Z and TPCO's $10 million social equity fund has <a href="https://www.prnewswire.com/news-releases/the-parent-company-announces-the-peakz-company-as-second-social-equity-investment-301313481.html">made an investment in The Peakz Company</a>, an Oakland-based cannabis brand. </li><li>Cannabis compliance and software firm <a href="https://www.simplifya.com/">Simplifya closed a $6 billion Series B funding round</a>, led by Blue Zone Wealth Advisors, with participation from previous investors including Merida Capital and Mercury Payment Solutions Founder Jeff Katz. </li></ul><div type="image" title="cannabis" height="1333" width="2000" msid="83620228" hostid="261"></div><h2>Policy moves</h2><ul><li>Democratic Reps. Bonnie Watson Coleman of New Jersey and Cori Bush of Missouri <a href="https://www.businessinsider.com/decriminalize-all-drugs-cannabis-heroin-cocaine-2021-6">introduced legislation</a> that would decriminalize possession of all drugs including heroin, cannabis, cocaine, and LSD.</li><li>A <keyword id="40905" type="PERSON" weightage="60" keywordseo="Marijuana">marijuana</keyword> legalization bill is <a href="https://www.marijuanamoment.net/connecticut-marijuana-legalization-bill-heads-to-governors-desk/">heading to Connecticut Gov. Ned Lamont's desk</a> on Thursday after both the state House and Senate passed the bill. Lamont is supportive of the bill, and if he signs it, marijuana will be legal in Connecticut as soon as July 1, with recreational sales to begin in May 2022. </li><li>Louisiana Gov. John Bel Edwards <a href="https://www.theadvertiser.com/story/news/local/2021/06/15/louisiana-marijuana-decriminalization-bill-becomes-law/7702747002/">signed a marijuana decriminalization bill</a> into law on Tuesday. </li></ul><h2>Chart of the week</h2>Like their recreational counterparts, medical cannabis consumers still prefer smoking regular old weed over edibles, beverages, tinctures, and vaporizers, according to New Frontier Data:<div type="image" title="Chart of preferred cannabis products among medical consumers with smokeable cannabis as the top product followed by edibles, pills, vaporizers, and concentrate (respectively)" height="1040" width="1240" msid="83620231" hostid="261"></div><h2>What we're reading</h2><a href="https://theintercept.com/2021/06/06/cannabis-legalization-rhode-island-weed/">Rhode Island Coalition Pushes Most Equitable Legal Cannabis Regulations Yet</a> (The Intercept)<a href="https://www.townandcountrymag.com/society/money-and-power/a36700958/abby-rockefeller-hemp-cannabis-farm-hudson-valley/">Ms. Rockefeller's Cannabis Farm</a> (Town &amp; Country)<a href="https://www.bloomberg.com/news/articles/2021-06-14/pro-athletes-cbd-use-coming-under-scrutiny-cannabis-weekly">Pro Athletes' CBD Use Is Coming Under Scrutiny</a> (Bloomberg)<a href="https://apnews.com/article/washington-lifestyle-coronavirus-pandemic-business-government-and-politics-5b24a89f691f1760a4b16576ed22cb27">Washington's 'joints for jabs' vaccine program falling flat</a> (Associated Press)<a href="https://www.tmz.com/2021/06/15/joe-exotic-launching-own-cannabis-line-products-prison/">JOE EXOTIC LAUNCHING HIS OWN CANNABIS LINE ... Straight from the Joint!!!</a> (TMZ)

Weedmaps CEO isn't afraid of Amazon

<div class="KonaFilter image-container display-table"><div><div class="image on-image">FCAFCA CEO Mike Manley.</div></div></div><ul class="summary-list"><li><a href="https://www.businessinsider.com/category/fca">FCA</a> and Renault announced plans to <a href="https://www.businessinsider.com/fca-starts-nissan-renault-merger-talks-to-spark-electric-vehicles">execute a 50/50 merger</a> that would create the world's 3rd-largest automaker.</li><li>Renault is in a longtime alliance with Nissan and Mitsubishi; that alliance could be ending, as its engineer, Carlos Ghosn, awaits trial in Japan.</li><li>On its face, the proposed merger looks like a tie-up of Fiat and Renault, two companies that have struggled as the auto industry has witnessed surging sales since the financial crisis.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a></li></ul><a href="https://markets.businessinsider.com/stocks/fiat_chrysler-stock">Fiat Chrysler Automobiles</a> is a creature of the 2008 financial crisis and the skillful financial engineering of late CEO Sergio Marchionne.Marchionne had turned around Fiat before he saw bankrupt, bailed-out Chrysler - the basket-case of the collapsing US auto industry - as an appealing target. His dealmaking was sweetened by the US government's desire to effectively pay Fiat billions to take Chrysler off its hands.The new entity, Fiat Chrysler Automobiles, has been a success. The Jeep and RAM brands have witnessed surging US sales, and Marchionne savvily spun off Ferrari, the crown jewel, in an IPO that unlocked what's now a nearly $30-billion market cap (FCA's is only about $20 billion).Read more: <a href="https://www.businessinsider.com/why-renault-nissan-head-carlos-ghosn-was-arrested-2018-11">No one has the details of why Renault-Nissan head Carlos Ghosn was arrested - but here are the main theories</a>But that success has some issues. FCA is strong in the US market, but the company is heavily exposed to Europe, where Fiat has struggled. The group is well behind in China, and FCA has been using partnerships to keep up in self-driving development, mainly with Alphabet's Waymo. FCA, like Detroit rivals Ford and General Motors, has been able to amass cash as pickups and SUVs have sold well in recent years, but Marchionne also spent much of his CEO-dom chiseling down FCA's debt. The carmaker's ability to invest aggressively in the global transformation in mobility took a back seat to Marchionne's banker's instinct to tidy up FCA's balance sheet.<h2>Managing a many-headed automotive beast</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersCarlos Ghosn engineered the Renault-Nissan-Mitsubishi alliance.</div></div></div>The bottom line is that the truck and SUV brands kept the whole undertaking on track, while efforts to reestablish Fiat and Alfa Romeo in the US largely failed. The Ferrari spinoff was a highlight, leading to speculation that Maserati might follow - but that brand has seen sales take a hit as the luxury market has become more competitive and the China market has slowed down.I could spend another thousand words sifting through all the ins-and-outs of FCA's many-headed composition and detailing why this lucky beast - Italian and American, with hubs in Detroit and Milan but officially based in London and financially based in the Netherlands - is very difficult to sort out.But I won't - having covered FCA since before the financial crisis, suffice it to say that ... it's complicated.Now a proposed merger with Renault could take the complexity into the stratosphere.On its face, it's straightforward: FCA and Renault would merge 50/50, with a new parent company holding the combined entity. However, there's the not insignificant matter of Renault's alliance with Nissan and Mitsubishi, created by disgraced CEO Carlos Ghosn, who was arrested last year in Japan and has been awaiting trial on financial malfeasance charges ever since."While the proposal focuses on a combination of FCA and Groupe Renault, FCA looks forward - as part of a combined enterprise with Groupe Renault - to working with Groupe Renault's Alliance partner companies on ways to create additional value for all Alliance members," FCA said in a statement."FCA recognizes the standing and achievements of Groupe Renault's partners and sees significant expected benefits to all parties from the expanded partnership. The FCA and Groupe Renault combination together with its Nissan and Mitsubishi partners would be the largest global OEM alliance, selling more than 15 million vehicles annually."<h2>Politics, politics, politics</h2><div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersGhosn was arrested in Japan last year.</div></div></div>Obviously, this looks like an FCA-Renault hookup that's excluding Nissan-Mitsubishi. Or, from another angle, Nissan concluding that it's better off on its own, given that it contributed 80% of sales to the alliance and always chaffed at the imbalanceThat could mean that we're witnessing the enactment of a plan that Ghosn had devised to bolster Renault at his Japanese partners' expense, adding to the "palace coup" theory of his ouster that sought to explain why his downfall happened in Japan. But it could also mean that the alliance served its purpose and Nissan was more than happy to cut ties with Renault, declining participation and marking the end of the world's biggest combined automaker by sales.Even if the outcome is somehow a mega-alliance, combining FCA, Renault, Nissan, and Mitsubishi, it's tough to figure out how that alliance would be managed. To be honest, it's tricky to figure out exactly how FCA CEO Mike Manley and Renault chief Thierry Bolloré would steer their new ship, with no Japanese captains on deck.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersLate FCA CEO Sergio Marchionne.</div></div></div>The Renault-Nissan-Mitsubishi alliance was already something of a miracle in the global auto industry, where tie-ups have often ended badly. FCA, after all, was a result of Daimler jettisoning Chrysler before the financial crisis.Against that history, Manley and Bolloré could be looking to share costs as much as possible to remain competitive as the traditional auto industry comes under stress from expensive technological innovation and confronts a downturn in both the US and China, alongside the flat European market.This is an old playbook, and it stands in opposition to what General Motors has been doing: cutting costs, selling off the underperforming division, and creating new entities such as Cruise, a self-driving startup, that can be independently capitalized by outside investors like Japan's SoftBank. As far as FCA and Renault are concerned, a merger might work, is better than nothing, and creates a way for Renault to either dictate terms to the Nissan side or frees Renault from an alliance that had run out of gas. But it doesn't come without significant risks. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-app-make-money-repurposing-cars-autonomous-2019-4">Elon Musk says Tesla owners could make up to $30,000 a year turning their cars into 'robotaxis'</a></h3> <div> </div> </div>

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