CFN Media Interview Gregg Schreiber of Green Table
October 26th, 2017
News, Top News
The cannabis industry is already a multi-billion dollar business. Investors looking to get in while the getting is good are all wondering what the best opportunities are in this early stage of the game. Green Table produces exclusive events in cities around the United States to educate investors and thought leaders on opportunities within the maturing cannabis industry. The goal of these events is to elevate and mainstream the conversations and interactions within the cannabis industry. CFN Media sat down with Gregg Schreiber, founding partner of Green Table, at the recent New West Summit in Oakland to discuss the company’s impressive and innovating approach to empowering entrepreneurs and investors within the cannabis space.
Rachelle Gordon: What is Green Table and how is the company growing the cannabis industry?
Gregg Schreiber: We felt that there was a need for a platform that catered to the more sophisticated investor community, from a high net worth basis to institutional funds as well those who are getting involved or are already are involved in the space. We thought that a community that was private, safe, and very well curated was something that was missing.
Green Table just completed its sixth event in nine months; we’ve been really busy. We’re trying to have a presence in the industry, where the industry is present itself. We’re not really setting a timetable, but the industry is setting the timetable where Green Table needs to be. In November, we’ll certainly be in the forefront of MJBizCon in Las Vegas, and then we plan on being in Miami Beach in December at the beginning of Art Basel.
Some people have looked at me a little sideways when I say Art Basel. As everyone knows, it’s an extremely prestigious art event that takes place with a lot of wealth. We felt that a lot of art investor-types are going to be at Art Basel and because Florida is also a medically legal cannabis state, certainly when Green Table comes to town there will be interest for seeing what we’re doing.
RG: Why should potential investors look to Green Table?
GS: I come from Wall Street. I spent seven years at Lehman Brother, in the fixed income trading area. Then my group went over to Bear Stearns and I spend about 15 years there until the company went out of business. I forged many, many deep relationships with really smart people. Working with hedge funds, family offices, high net worth individuals, asset managers; those relationships ran very deep and when Bear Stearns ended, I was at a few other smaller firms, but the fixed income business was really out of business because of interest rates being so low. I moved out to California and I had a lot of my clients and traders and very wealthy people in New York saying to me, “Hey Gregg, what’s going on out there in Southern California? We hear all about it. It seems like it’s really interesting and we’d like you to keep your eyes out for us on interesting opportunities because we know you have the ability to assess good opportunities.”
So I think that’s one of the things that sets us apart is our ability to assess good opportunities. Then also, who we’re assessing them for. So, that, as I said, is a network that my partners and I had built up over many, many years in the financial industry on Wall Street. We deal with very well known families – blue blood family names here in America. If I said some of them to you, you would know who they are. We deal with billionaires, family offices that have hundreds of millions, and just very high net worth individuals. These are more sophisticated-type investors. I think that’s what separates us from the rest. These are very shrewd people and they see the opportunity that’s coming. They realize that we are having prohibition all over again and although we may still be early in that opportunity landscape, we are attracting a lot of interest from the investor network that we draw from.
RG: What sort of businesses are you looking to work with?
GS: We want to separate the legal businesses from the illegal businesses, because there are so many that are not completely compliant. First and foremost, we want to make sure companies that we’re looking at possibly working with and driving our investors to are in compliance with what the state regulations are now. Of course we all know the conundrum is there’s the federal issue, which is something that has to be contended with and navigated carefully. We look for companies that are properly valued, that have a very capable management team, and that are in different sectors of the business. The biggest thing in cannabis for investors is deciding if they are willing to touch the plant versus wanting to be involved in purely ancillary businesses. Many don’t want to have any involvement in deals that touch the plant, for various reasons. So, that’s the first thing that we look at is, does it touch the plant, does it not touch the plant?
We also ask if there are revenues or is it just a total start-up that is probably disqualified from what our investors look for? Are the opportunities that are being placed in front of us valued properly and does the business make sense to us? If the partners at Green Table feel it doesn’t seem like a smart business or just completely nonsensical, then that’s something that we’re going to filter out right away.
RG: What do you see in the future for Green Table and the industry as a whole?
GS: Well there’s tremendous opportunity over the next few years as we know. There are more and more states now in the country that are legal from a statewide view, from a medical standpoint. Then, of course, there are those states that are recreational. California as you know, goes recreational starting January 1st, which is going to be a very interesting opportunity and over the next few years.
De-scheduling is something that people are hopeful for federally in the next few years. That would change the landscape dramatically. You’re seeing more and more of the forces at play here with cannabis. For example, Senator Orrin Hatch from Utah (one of the most conservative states) has recently come out fully in support of medicinal drugs that contain cannabis.
The other big issue at hand that gets a lot of press are the uses of CBD; where it can be used as medicine in replacement of opioids. That’s a tremendous issue. I had recently read that Aetna will no longer be reimbursing for opioids for certain conditions, which is a big deal. So, you’re getting this continued push and undeniable data from the medial field of the remedies that cannabis-contained medicines have and again. If CBD can be used in replace of certain conditions where opioids don’t have to be used, that’s a majorly big deal.
RG: What else should the cannabis community know about Green Table?
GS: We started this business because we felt there was a need for a higher level of opportunity and now we’re trying to go back and reevaluate ourselves. What have we accomplished in the past nine months? Where do we want to go from here? What do we want to do differently? As we mature and become more educated in the industry itself, we want to raise the content of the investment opportunities that we’re showing out to our investors.
What makes a lot of sense is trying to build more relationships with the universities, the research entities, the pharmaceutical companies, the doctors, and the scientists and focus on those types of investment opportunities. We think this will only increase the interest from even more significant players from the institutional side. If institutional money that we would like to see comes into the space is going to come into the space, they’re going to come into opportunities like that from very high medical business, research, patents, IP – things like that, rather than getting behind cannabis brands. That’s institutional money that I don’t think we’ll ever really be interested in.
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This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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