Brandon Pollack is the co-founder and CEO of Theory Wellness a cannabis company he built from a single medical dispensary in Bridgewater, MA in 2015 to 15 locations across five states, with 350 employees and zero outside equity investors. Two years ago, he sold the company to its own workers through an ESOP a move that eliminated federal taxes entirely and locked in value for every person on his team.
In this episode, Jason and Brandon get into the mechanics of how Theory actually works: why they stayed bootstrapped when everyone else was raising, how they watched overleveraged operators collapse in real time, why indoor cultivation is a dangerous bet right now, and what the hemp ban in November actually means for licensed operators.
Brandon also breaks down the ESOP structure in plain language how employees earn equity, why cannabis companies specifically should consider it, and what it costs to maintain. Plus: the Massachusetts ballot question that could repeal adult use entirely, and why the industry needs to show up for the "No" campaign with real money.
To help fight the state hemp ban, join the Committee to Protect Cannabis Regulation and RSVP for the upcoming Framingham Summit here: http://www.bit.ly/framinghamsummit21+ where legal. Nothing for sale.🎧 Full Episodes: highfunctioning.show🔔 Subscribe: tr.ee/highfunctioningsubscribe🎙️ Spotify: tr.ee/highfunctioningspotify🍎 Apple: tr.ee/highfunctioningapple