In the latest episode of the Bodacious Women in Cannabis podcast, I had the pleasure of sitting down with Allie Faver, a dynamic and insightful lawyer-turned-cannabis industry professional. Allie's journey from a traditional legal background to the forefront of the cannabis business is not only inspiring but also a testament to the evolving landscape of the industry.
Allie shared her unique story, beginning with her roots in New York, where she completed her education and started her career in labor and employment law. The pandemic, however, prompted a significant reevaluation of her professional and personal goals, leading her to pivot into the cannabis industry. She and her now-husband made the bold decision to move to St. Louis, where she joined CBD Kratom, the largest cannabis and Kratom retailer in the United States.
Despite her initial lack of industry-specific experience, Allie's passion for being a business partner and her eagerness to learn propelled her into a successful role within the company. She candidly discussed the challenges and learning curves she faced, as well as the cultural shock of relocating from New York to the Midwest.
Our conversation delved into the regulatory battles that the hemp industry faces, particularly against the marijuana industry. Allie highlighted the importance of common-sense regulation and the need for the hemp and marijuana sectors to join forces rather than compete. She emphasized the detrimental impact that current legislative efforts have on small businesses and farmers, advocating for consumer choice and transparent labeling.
Allie also touched on the various products offered by CBD Kratom, from microdosing gummies to high-potency smokables, catering to a diverse customer base. She underscored the importance of providing consumers with a range of choices to suit their individual needs and preferences.
As a woman in the cannabis industry, Allie acknowledged the male-dominated nature of the field but expressed optimism about the increasing presence of female leaders. She encouraged listeners, especially women, to boldly pursue their interests in the industry, despite potential stigmas.
Lastly, Allie provided insights into Kratom, a plant native to Southeast Asia, explaining its effects and the industry's push for responsible regulation. She shared her contact information for those interested in learning more about her work or the products offered by CBD Kratom.
This episode is a must-listen for anyone interested in the intersection of law, business, and cannabis, as well as those seeking inspiration to make a bold career change. Allie Faver's story is a powerful example of the opportunities that arise when we embrace change and pursue our passions with determination and an open mind.
Allie Faver is CBD Kratom's General Counsel, leading the St. Louis-based hemp and kratom retailer's legal matters. Allie additionally oversees the Company's government relations efforts, helping to push common sense cannabis- and kratom-related regulations at the federal, state and local levels. To aid in this effort, Allie is on the board of directors for the Hemp Industries Association ("HIA"), US Hemp Roundtable, and the Texas Hemp Coalition.
A native New Yorker, Allie received her Bachelor's Degree from the University at Albany and her Juris Doctor from Hofstra University. She previously worked for an Am Law 100 law firm in New York before moving to St. Louis to join CBD Kratom in January of 2021.
Allie currently lives in St. Louis with her husband, Nathan, and their dog, Bear."
TIMESTAMPS
00:00:16 - Introduction to Bodacious Women in Cannabis
00:00:33 - Host Susan Burns Welcomes Listeners
00:01:03 - Guest Introduction: Allie Favor
00:01:28 - Allie's Journey to the Cannabis Industry
00:02:39 - Decision to Move and Join CBD Kratom
00:03:42 - Regulatory Challenges in Cannabis
00:04:41 - Hemp vs. Marijuana Industry Dynamics
00:05:18 - Consumer Choice and Product Lines
00:06:02 - Legal Distinctions in Cannabis
00:07:42 - Industry Impact on Small Businesses
00:08:33 - Shift in Marijuana Industry Players
00:09:27 - Big Pharma's Influence on Cannabis
00:10:39 - The Plight of Hemp Farmers
00:11:40 - Regulations Impacting Hemp Industry
00:12:25 - Accessibility and Consumer Choice
00:13:15 - The Future of Hemp Feed for Farmers
00:14:12 - Tax Challenges in the Marijuana Industry
00:14:55 - Consumer Preferences and Dosage Variations
00:16:09 - CBD Kratom's Diverse Product Range
00:17:49 - Microdosing and High-Potency Products
00:18:42 - Dispensaries vs. Hemp Retailers
00:19:13 - Distribution Challenges for Hemp Products
00:20:25 - Beverage Market Dynamics in Minnesota
00:21:44 - Stigma and Education in Cannabis
00:22:35 - The Legal Landscape and Learning Curve
00:23:12 - Misconceptions and Legislative Hurdles
00:24:05 - The Irony of Restrictive Regulations
00:24:46 - The Role of Kratom in the Industry
00:27:48 - Allie's Experience as a Woman in Cannabis
00:30:25 - Advice for Aspiring Industry Professionals
00:31:08 - Defining 'Bodacious' in Professional Context
00:33:18 - Contact Information and Closing Remarks
