I am an executive producer of Freakonomics. My friend Colin created the Playstation Underground community, and later launched Playstation Online. Now we’re in the hemp business. Ask us anything!

How is it possible to remove THC entirely from something? Doesn’t it attach itself to other parts of the contents? Wouldn’t it be more accurate to say 99% removed?

You're correct that completely removing THC or other components won't get to 100%. There are primary extraction methods which separate individual cannabinoids, and further refinement processes such as chromatography that can isolate individual compounds such as CBD up to over 99%. The trace elements are effectively non-detectable.

Is there any truth to the idea that textiles companies have lobbied against hemp because hemp last longer than cotton and would result in people buying less clothes over time with reduced wear and tear?

There's arguably evidence that competing industries helped form the "Marihuana Tax Act of 1937" which significantly hindered the hemp industry.

What are the economic impacts of hemp going to likely have on a global scale?

In 2017 farmers harvested 400,000 acres of hemp worldwide, 25,000 of which was in the U.S.

That number (25,000 acres in the US) will likely double in 2018 and again for the 2019 harvest. The profit per acres is significantly higher for industrial hemp than for other crops, so likely more jobs, and more money in the pockets of farmers as well as others in the value chain for hemp.

Seems like a risky crop, considering legislation could snuff out all of your buyers pretty quick. Hopefully that changes soon. Permanently.

Good point that regulation is murky, especially at the federal level. A good site to support US hemp is www.hempsupporter.com

The 2018 farm bill is making good progress in committee and hopefully will translate into new law early next year.

how do you justify the price? i buy cbd isolate for $20/g and make my own 200mg capsules for daily use. why should i pay 6x that?

Wow, this is a great question. Thanks for the softball! lol Seriously, though. There is so much "questionable" CBD product out there. We are so completely dedicated to the highest quality, highest potency product and because we make it our priority to be completely transparent with our lab testing (you can see the the results at https://naturearc.com/wp-content/uploads/2018/07/lab-results.jpg

Cheap product coming from overseas is often synthetic, or polluted with pesticides or heavy metals, or have residual solvents....all very detrimental your health. The rule of thumb is --and I can't speak to your specific unnamed brand--if the product is cheap, there's a reason for that, and that reason ain't good.

Why did you decide to take on so many differing careers?

In my case, having a quest is key. Each career transition started with feeling that I had accomplished everything I started out to do and wanting a new challenge or a chance to learn a new industry. Change keeps you on top of your game and you're still able to leverage and use your core skills and competencies.

Seem a lot more fun than taking one on for 60 years.

For me, yes, though a 60 year career in the same field is admirable.

My mom is proudly taking CBD. I hear a lot of people talk about how essential oils is bull shit, is this different from that?

We encourage people to look up the studies concerning the endocannabinoid system on pubmed, as well as the wiki page on the endocannabinoid system.

Do you ever get chastised by religious people who believe you are propagating the "devils cabbage" and encouraging moral decay by selling hemp?

My dad is a pastor in a small church in NY and he personally believes that plants are a natural part of life and have inherent properties that can heal.

One of our core partner farms in Oregon is run by a multi generational farming family and they're devout Christians.

Is cryptocurrency the only safe way for dispensaries to operate? I keep reading these scary stories about dispensaries having to lug 200k cash to the bank because payment processors won’t accept them.

It's amazing that the industry is forced to deal with running their business with cash, especially with the inherent security concerns and risks. Some dispensaries have figured out how to accept debit cards that avoid the V/MC rails. Crypto is an option, and others have used a prepaid card based system using an app to 'store value' vs. using a card.

Do you feel any remorse or responsibility for the gross scientific fallacies related to climate change perpetuated by Freakonomics?

https://www.theguardian.com/environment/climate-consensus-97-per-cent/2013/jul/08/climate-change-superfreakonomics-superfreakingwrong

Not to mention that the original book has also been widely criticized in its views on crime reduction (which are much better explained as a consequence of phasing out leaded gasoline).

My role with Freakonomics was in financing and distribution of the documentary. The content was the responsibility of the creators, so I'm not sure it would be right for me to take a stance on the legitimacy of what they believe and published.

i was a big fan of the podcast (still am to some degree), but the episode on koch bros was shameful. the softball questions and ass licking you people displayed in that one was shameful. i guess my question is, whose idea was to suspend all journalistic integrity for that fluff piece?

My work was focused on the documentary, particularly in financing and distribution. I am not involved with the podcast. Sorry I could not provide any insight here.

The FDA recently approved a cannabinoid/CBD product as a drug that will be priced at $32,500/year.

I'm confused by that sentence... do you mean $32.5k per perscription/person per year? Surely that's an unrealistic barrier to entry.

Very good question. This is precisely why healthcare costs are so outlandish.

Who will pay these prices? Not necessarily just the patient. Pharma, Insurance, and hospitals may pick up the tab, but everything trickles down...

Are you hiring right now? :)

Keep an eye on our website :)

How do you like your new jobs versus your old jobs?

My early career was banking software over the internet, then I did financing for a number of independent films, and now an exciting hemp venture. The common theme is finding the trend; fast growing parts of the economy in industries that are ripe for disruption and attract entrepreneurs looking to make an impact. Just like organic farming and consumer demand for natural, healthy products drove changes to how our food is grown and consumed, hemp is going through a similar trajectory.

Why did Freakonomics go from telling interesting stories to audio-fellating rich people?

I am not a creator, nor involved in the podcast. My role involved financing and distribution of the documentary-- ensuring it achieved the reach necessary to have an impact.

How does the medical benefit of marijuana with high THC content compare with marijuana with high CBD content?

Edit: also, what is your opinion on legalization, recreationally and medically? How should we go about it?

Due to federal regulations, we cannot make any claims about the medical efficacy of cannabis. We encourage you to check out our FAQ, as well as PubMed for peer reviewed medical cannabis information.

https://naturearc.com/#faq

If you'd like to see cannabis legalized, make your passions known to your elected officials and be sure to vote.

What are your levels of education that lead you to where you are today?

I didn't have the means to attend University straight out of college, so I began work as a clerk at a bank after high school. I was lucky to have the right mentors along the way that helped me progress my career at that bank and others over the next decade.

3 years after high school, I began taking night classes at Nassau Community College while working full-time. After 3 years at Nassau, I attended night classes at NYU for another 6 years to complete my degree.

Where are you guys located? Do you need any help at the moment?

We are headquartered in Los Angeles, with operations in Oregon and New York.

Keep an eye on our website-- where openings will be posted as they become available.

Are you going to get really stoned and play Red Dead redemption later?

No comment.

Why produce hemp oil instead of cannabis derived CBD oil?

In our case, it's a desire to comply with federal policy. Although hemp and cannabis are regulated by different governing bodies, CBD derived from hemp is the same molecule as CBD derived from cannabis.

What's for dinner?

Love watching nfl games, so maybe HQ Gastropub in Woodland Hills...

How can I get a job with you?

Keep an eye on our website as well as social media - we may post opportunities in the future. https://www.instagram.com/naturerxhemp

Hi, thanks for doing this AMA!

What type of extraction methods are legal in CA and which method do you use most frequently? In my state, I believe only supercritical CO2 extractions are legal, which creates an enormous barrier to entry in the industry, considering the price of the required equipment.

Have you explored extraction of terpenes, followed by reintroduction after removing THC or isolating CBD?

What prices do you pay for hemp? What is the CBD content of the hemp you buy? How many different hemp suppliers do you procure from and how much material do you process in, say, a month?

What is the cutoff on THC content in hemp for it to meet compliance standards in CA?

Edit: just spent some time on your website, looks like you guys use CO2. Have you explored any other extraction methods or solvents?

We procure all of our CBD from large scale certified organic farms. When buying any CBD product, consumers should focus on how the hemp was grown and how its been extracted (in our case CO2.) All of our products are tested internally and validated by third party lab testing and are always testing at virtually 0% (the legal limit is 0.3%). Current lab testing is available on our website. In addition, we are able to process thousands of pounds of biomass every day.

When the federal government does begin allowing banks to do business with retail cannabis companies, is there any reason for a dispensary to continue using POSaBIT?

We do both Crypto POS and regular POS. If dispensaries want to switch in the future-- great. We're here for them.

How did you get roped into the hemp business?

I see what you did there ;)

It was an industry I had been monitoring for the last decade. It was the rise of anecdotal evidence, my own friends and family's experiences, and especially my brother that inspired me.

For both of you to answer independently:

• What are your families' net worths? What were they, on average, as you were growing up?
• How many square feet were the houses you grew up in?
• How many houses and/or businesses did your parents own growing up?
• How much did your educations cost? Who paid for them?

Thank you!

1. In the hundreds of dollars. My dad worked for the transit authority, and is now a pastor. My mom was a housewife.
2. Small house an a middle class neighborhood in Long Island.
3. Just the one.
4. I started at community college for three years, then did six years of night school at NYU. My employers assisted me, for which I am very fortunate.

what made you think you are interesting enough to warrant an AMA?

Our younger teammates insisted we give it a try. I don't know if I am interesting enough or not, but we're having fun so far.