David Drake, founder and CEO of Cannabis Reports, was recently invited to speak with Investing in Cannabis about the importance of foundational data based on accurate cannabis information.
Investing in Cannabis tells the stories of the hardworking members in the cannabis industry, including regulators, founders, investors, and pioneers.
Drake was interview by Brandon David at the Oakland offices of Investing in Cannabis, where the two engaged in an awesome conversation about the future of a fledgling cannabis industry.
You can watch the full video below, or via the original source: Investing in Cannabis (May 22nd, 2016).
Building an Industry on Data and Good Information
Cannabis information varies widely, and accuracy has been an issue as our community tries to build trust with those still skeptical about cannabis.
The topics brought up in the interview stem from Drake’s underlying mission at Cannabis Reports. Here are some of the key points of discussion presented by Drake:
- Promoting education and helping customers feel more comfortable by making information available and open and transparent. People should be able to develop their own relationships with cannabis, and people should be able to do this at their own pace.
- Understanding that there is a strain called Blue Dream, but that different cultivators will produce different versions of that strain. Being able to discuss cannabis strains at deeper levels of specificity.
- Genealogy can be an important factor as patients try to find what works for them. Experiences with different strains are at a personal level, and the recommendation engine ties that information back to landraces.
- In 2008, Smoke Reports started as a research project to get all of the strain data into one place.
- Building a dataset, hundreds of sources not just Big Book of Buds, by manually entering seed company and strain history information. That is how we are able to have a recommendation engine based on these landraces.
- Helping business in the cannabis space. It is very important to Drake that data does not get lost again like it did for Overgrow.com in the early 2000s. Open APIs allow developers and technologists to start with foundational tech and not have to do their own massive research.
- Leafly closing down the API hurts the development community. Drake does not have an exclusive attitude.
- “We just want to deliver GB of data to folks.”
- We do not believe there is a winner or owner of the data. With this thinking, we can then build in a more open and collaborative way.
- Cannabis Reports team does not even use the word ‘competitor’. Our structure and organization of Cannabis Reports makes every company a potential partner. Working together means helping people at a larger scale.
- Data is available for free for API users. Producers and dispensaries pay small monthly fee for their listing and admin tools, but developers do not have to pay any money.
- The underlying question: Is cannabis going to be an open space, or is it going to be a private me vs. you community?
- Been very interesting for Drake to explain the Cannabis Reports mission to investors with more traditional mindsets. Sticking to the goal of providing small business owners and technologists underlying tools so they can do their jobs better without gathering all their own data.
- Cannabis Reports is silently become a major support pillar for the cannabis industry and community.
- One of the biggest things we are trying to do right now is to develop the open cannabis future. We want to see if there is a possibility for developing open standards for operation. If we as an industry and community can agree and adopt standards in the open, we can be very powerful moving forward as one unified group.
The entire team at Cannabis Reports wants to extend a huge “Thank You!” to Brandon David and the Investing in Cannabis team! This was a great opportunity for us to capture a glimpse of the positive cannabis future we are working toward.