Business Notes 17-04-2015
Marijuana is big (seminar) business, and being a news company chief sucks.
Why being a newswire media CEO is an impossible job
A very interesting article on fusion.net goes some way to explaining the great conundrum of being the chief of a newswire organisation. Broadly speaking, it makes a case for the conflict between the interest of the business and the interest of the newsroom. It uses at its outset the examples provided by the recent CEO moves for Bloomberg and Reuters.
Both companies need a news operation to be at the heart of their financial-information terminal business, which is where the vast majority of the profits are always going to come from. Then, given that they’re employing thousands of journalists already, they have decided that they should probably try to monetize all that news beyond the core wire product.
The problem is that the person put in charge of “media” is not really in charge of the newsroom, since the top priority of the newsroom is the terminal business, rather than the media business. Read the full article here:
Potential pot entrepreneurs pay for cannabis career tips at Sacramento seminar
Peter Phect of Sacbee.com filed a report about business opportunity seekers turning out for a seminar on the marijuana industry in California, which now stands at around $1 billion annually. Of interest is the notion of whether California’s laws, which still have some grey areas, will have any impact on the “free trade” perception of the market. Also, as South Africa continues to endlessly debate legalisation and decriminalisation, could we see new industry workshops here soon?
With hundreds of medical marijuana dispensaries, California already boasts the United States’ largest marijuana economy. But unlike states that have passed rigorous regulations on cannabis businesses, the $1 billion-plus California pot economy operates under nebulous guidelines passed by the state Legislature in 2003, seven years after voters approved the Proposition 215 medical marijuana law.
In California, state law merely says that people with doctors’ recommendations for cannabis use can “associate” to “collectively or cooperatively cultivate marijuana for medical purposes.” Read more here:
Ten tips for new businesses in new industries
While we’re quite co-incidentally on a marijuana trip, Greg Engel – the first ever CEO of Canadian medical cannabis producer – has written a useful piece for the globeandmail.com, outlining top tips for new businesses. For those setting out on the path to their first new business, it’s great starter reading.
Think big. Starting out small doesn’t mean thinking small. Take medical cannabis for example. Right now, Canada has the most advanced medical cannabis market in the world. That early leadership translates into a global opportunity to lead in terms of research, development and sharing best practices. Fledgling companies need fearless leadership comfortable with fundamentally transforming the lives of their customers and rising to the challenge of their industries. Read more:
TuneGO – The LinkedIn of the Music Industry
Another new music or “artist” service has emerged, claiming to be the LinkedIn of the Music Industry. We shall see.
If a musician signs up for TuneGO Premium, they get access to the TuneGO Radio Network which will launch in Q3 2015. The network is currently accepting submissions for distribution across Slacker Radio and college radio stations nationwide. Read more here: