In this episode, Amber is joined by Jeannette Ward, the Co-Founder and CEO of NuProject, a non-profit organization dedicated to helping people-of-color entrepreneurs in the legal cannabis industry by providing financial assistance.
Jeannette sheds light on the deep-rooted inequities within the cannabis industry, particularly affecting black and brown-owned businesses. She discusses the high costs and significant barriers to entry, including exorbitant licensing fees and the lack of access to banking services, which make it difficult for marginalized communities to thrive.
Their conversation also delves into the critical need for legalization and the allocation of cannabis tax revenues toward reparations, using examples from states like Illinois and New York to illustrate how these funds can address systemic underinvestment in black communities. She also highlights the ongoing impact of cannabis criminalization on black communities and advocates for greater involvement in organizations like the Marijuana Policy Project (MPP) and Students for Sensible Drug Policy (SSDP) to push for racial equity in cannabis legislation.
Tune in with Amber and Jeannette for an insightful conversation on navigating the cannabis business landscape.
KEY POINTS:
QUOTABLES:
“There's so many layers that cannabis criminalization has woven for black communities. [It] is such a central part of policing and how the system has continued and how much money the system makes — 43% of drug arrests — or cannabis arrests.” – Jeannette Ward
“When we're doing our underwriting, our evaluation is based on character, on future business projections, [and] not based on your credit score or how much cash you can bring to the table. Eventually, any bank on the corner will lend to a cannabis business, but what banks aren't figuring out is how to lend to black people [or] how to lend women – [which are] we're working on.” – Jeannette Ward
RESOURCES
Jeannette Ward
LinkedIn | @jeannette-ward-1614ab5/
IG | @bamcabral
LinkedIn | @ambercabral
Facebook | @amber.cabral
Twitter | @BamCabral
Watch Amber’s TED TALK episode here.
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Allies and Advocates: Creating an Inclusive and Equitable Culture
Guilty Privilege is produced by EPYC Media Network
WOW! I am always enthralled by the conversations had and topics discussed on this podcast. As someone who rarely feels motivated or inspired, I am so grateful to have found this podcast. I have shared this podcast with so many people in my life as each episode offers a brilliant mind’s insight. This past episode I had to pull over and just allow myself to feel the the feeling of motivation and then gratitude. This show doesn’t present itself as a self help podcast, nor does it attempt to—for lack of a better word— preach to it’s audience. However, every episode I find myself unapologetically happy with myself. I find myself sharing this podcast hoping others feel this feeling. Having access to this podcast is one privilege I absolutely refuse to feel guilty for—and boy what a privilege it is!
This podcast provides a path to self-awareness in the most refreshing and engaging way. The conversations are so yummy (yes, yummy!) and they make me feel like I’m sitting on the sofa with Amber and her guests.
Just finished the first episode (whispers: via YouTube) and I was NOT ready for the conversation to end. So I came on over to the apple podcast streets to subscribe and listen again on my commute to work. While this is not the work I’m exclusively dedicated to, I want to increase awareness around equity so I can be more intentional in my practice personally and professionally. This conversation is an absolute resource that I have the PRIVILEGE (time) to tap into and I look forward to digging into new episodes every week.
Great listen/watch. People really underrate how important emotional intelligence is in business. Hopefully more people will listen and utilize some of the information shared.
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