Skip to content
Search AI Powered

Latest Stories

Tilt Holdings' About Face: Severs Ties with Social Equity Brands and Shinnecock Nation

Tilt Holding's actions this week have drawn criticism and raised questions about Tilt's commitment to social equity and its strategic direction.

Tilt Holding's actions this week have drawn criticism and raised questions about Tilt's commitment to social equity and its strategic direction.
Tilt Holding's actions this week have drawn criticism and raised questions about Tilt's commitment to social equity and its strategic direction.

Tilt Holdings (OTC: TLLTF), a prominent multi-state operator (MSO) in the cannabis industry, has sent shockwaves through the sector with its decisions this week to sever ties with three social equity brands and to pause a joint venture with the New York Shinnecock Nation it was overly joyed to announce breaking ground on just about a year ago. 

These unexpected moves, made under the leadership of the company's new interim CEO, Tim Conder, have drawn criticism and raised questions about Tilt's commitment to social equity and its strategic direction.


Tilt Gives the Middle Finger to Social Equity 

In a surprising turn of events, Tilt Holdings has chosen to part ways with three social equity-driven cannabis brands:

  1. Her Highness: A female-centric cannabis brand founded in New York by Laura Eisman and Allison Krongard.
  2. Highsman: A cannabis lifestyle brand created by former NFL running back and Heisman Trophy winner Ricky Williams.
  3. Black Buddha Cannabis: A wellness-focused brand launched by Roz McCarthy, the CEO of the nonprofit Minorities for Medical Marijuana.

These brands, aimed at fostering diversity and inclusivity within the cannabis industry, were unceremoniously released without much warning. The decision sparked immediate backlash, particularly considering Tilt's stated commitment to social equity initiatives.

Conder explained the decision, stating that these brands were not aligned with Tilt's evolving strategic direction. However, critics, including Roz McCarthy, expressed frustration and confusion over why Tilt retained non-diverse brands while cutting ties with those promoting diversity. McCarthy's anger was further intensified by the abruptness of the decision, which caught her and others off guard.

Shinnecock Partnership on Pause

In addition to the brand cuts, Tilt Holdings announced during an earnings call that it was suspending its joint venture with the New York Shinnecock Nation. The partnership aimed to establish a vertically integrated marijuana company called Little Beach Harvest on Long Island which broke ground just a year ago. Under the agreement, Tilt was to provide construction, management services, and funding of up to $18 million. 

The abrupt pause in the joint venture has raised concerns and speculation. Conder cited challenges in New York, including unlicensed cannabis operators on Shinnecock land and regulatory restrictions on bringing in or selling cannabis products. While the tribe announced its intention to continue with the construction of their dispensary, the pause suggests uncertainty about the partnership's future.

Turncoats

Tilt Holding's actions this week have drawn criticism and raised questions about Tilt's commitment to social equity and its strategic direction.Tilt Holding's actions this week have drawn criticism and raised questions about Tilt's commitment to social equity and its strategic direction.

Tilt's decisions have attracted scrutiny from many corners of the industry, including analysts and insiders. In Green Market Report, Pablo Zuanic, an analyst, questioned the company's shift in focus toward its Jupiter vape business, a move that seems at odds with declining sales in that segment. 

While Tilt emphasized innovation in Jupiter products, it also faced a patent infringement case from VPR Brands earlier in the year.

The cannabis community has been left puzzled by Tilt's actions, especially given its previous and very public commitments to social equity and partnership agreements. Industry stakeholders are questioning whether Tilt's leadership truly understands the importance of diversity and inclusivity within the cannabis space.

Tilt Holdings is not unique in finding itself at a crossroads, facing both external and internal challenges. Much of the industry is in a similar position. Nonetheless, the decision to sever ties with social equity brands raises questions about the company's dedication to its stated values. While Conder's explanations suggest a strategic shift, they may not be enough to alleviate concerns about the future of social equity initiatives within Tilt, as actions speak louder than words.

Moreover, the pause in the Shinnecock partnership reflects the broader challenges facing the cannabis industry in New York and the complexities of navigating a rapidly evolving regulatory landscape.

As Tilt navigates this challenging period, it must carefully consider its decisions and communication strategies to rebuild trust within the industry and uphold the values it has publicly advocated for. 

The eyes of both stakeholders and the broader cannabis community are on Tilt's next steps, which will undoubtedly shape its reputation and trajectory in the years to come.

More For You

How much are you paying for your weed?
How much are you paying for your weed?

FAQ: How Much Is A Gram Of Weed? An Ounce?

If you’re new to buying weed, one of the first things to learn is quantities. That’s because at a certain point, there are greater savings that come with buying higher quantities. 

Additionally, sometimes you find a favorite strain, and it’s only available in certain sizes. 

Keep ReadingShow less
Lawmakers in the Empire State are making history in 2021.
Lawmakers in the Empire State are making history in 2021.

Cannabis Legal in New York? Here's What You Need to Know

It's official. On March 31, 2021, New York Gov. Andrew Cuomo signed the Marijuana Revenue and Taxation Act (MRTA) into law.

The historic moment comes after a late-night session where state lawmakers pushed the legislation through. Cuomo had vowed to sign the bill into law immediately, calling it “a major step forward for the Empire State.”

Keep ReadingShow less
New California Drug Test Laws

New California Drug Test Laws

As of January 2024, a new California law will prohibit employers from penalizing or discriminating against employees who use cannabis outside the workplace and during their off-hours. The shift in California’s drug testing laws is a massive change, and hopefully, one that inspires other states to do the same. Here are the details you need to know about getting high off the clock in California, plus what you can do to pass a drug test in the meantime.

Details of the Latest California Drug Testing Legislation 

California Governor Gavin Newsom signed legislation amending the California Fair Employment and Housing Act. The amendment bans any discrimination toward cannabis consumers, including in the workplace. Existing employment protections bar employers from discriminating against applicants based on medical disability, race, age, or other protected statuses.

Keep ReadingShow less
11 Black Cannabis Trailblazers and Pioneers

11 Black Cannabis Trailblazers and Pioneers

Legal cannabis remains a relatively new concept, but advocates all over the world have been championing the plant for centuries. 

And just as Reefer Madness swept the nation to target People of Color for their cannabis use, several brave Black cannabis activists forged on, trailblazing a path for the industry as we know it today.

Keep ReadingShow less
If you want to work in cannabis, the role of budtender may be a good entry point.
If you want to work in cannabis, the role of budtender may be a good entry point.

How to Become a Budtender in 2022

Plant knowledge is imperative to industry success, and budtending is the best way to familiarize yourself with the plant, the science behind it, and the industry as a whole. If you’ve ever found yourself googling “how to become a budtender”, you’ve come to the right article. 

As the cannabis industry continues to expand across the country and throughout the world, more people are interested in getting involved and innovating from behind the scenes.

Keep ReadingShow less