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Marijuana's High Hopes
New drug classification opens up big opportunities
👋 Welcome, Jobseekers
In this week’s newsletter:
🌱 Marijuana's High Hopes: New drug classification opens up big opportunities
📉 Pixar Cutting 14% of it’s workforce; TikTok; Replit
🤰 New York is the First State to Mandate That Employers Pay for Prenatal Care Leave
🔧 Interviews.chat - Personal Interview Prep & Copilot - Now with vision capability for coding challenges and whiteboard tasks.
📉 Layoffs
AI Coding Startup Replit Cuts 20% of Staff, Shifts to Enterprise Sales
TikTok is planning to lay off employees in its operations and marketing teams, The Information reports. Those teams comprise roughly 1,000 people, and it's unclear how many will be affected.
Disney's Pixar has cut 175 jobs, or 14% of its workforce, Bloomberg reports.
Spirit AeroSystems, a key Boeing supplier, is cutting 450 jobs at a Kansas factory due to slowing jet deliveries, Bloomberg writes.
GoPuff is laying off 6% of its workforce in its fifth round of job cuts since 2022, The Information reports.
🌱 Marijuana's High Hopes: New drug classification opens up big opportunities
President Biden's announcement to reclassify marijuana as a Schedule III drug could significantly expand its medical use and impact the tech industry, particularly in health tech and regulatory technology. This "pot-ential" reclassification would acknowledge marijuana's medical benefits, fostering more research and innovation in the field.
Key Takeaways:
Marijuana reclassified from Schedule I to Schedule III under federal law.
Potential expansion for medical marijuana use and research.
Still requires final DEA approval; a 60-day public comment period is in place.
The move keeps marijuana as a controlled substance, necessitating dispensary registration with the DEA.
Mixed reactions: potential health risks highlighted, but some benefits like reduced anxiety and better sleep "blossom."
Significant public support for legalization, with major stock market impacts on cannabis-related companies.
What does this mean for me?
Robust Job Security and Growth: Legalization and reclassification drive industry expansion, high demand for tech solutions, and creation of diverse job opportunities.
Diverse Career Opportunities: Roles in software development (dispensary management, CRM, e-commerce), data analytics (consumer behavior, market trends), cybersecurity (data protection, compliance), and product management (seed-to-sale tracking, patient care apps).
Investment and Funding: Significant venture capital and public market growth, fostering tech innovation and job creation in the cannabis industry.
Innovation and Collaboration: Emerging startups and incubators offer dynamic work environments, with cross-industry projects in agriculture, pharmaceuticals, and retail.
Societal Impact and Public Health: Development of cannabis-based treatments and therapies, tech solutions ensuring regulatory compliance, and enhancing public health and safety.
Where should I look?
Cannabis Technology Companies:
LeafLink: A leading "grassroots" wholesale cannabis marketplace connecting buyers and sellers.
Meadow: The Best All-in-One Dispensary POS
Green Thumb: a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis
Eaze: A platform providing cannabis delivery services and supporting dispensary operations.
Regulatory Tech:
Metrc: A regulatory compliance system for tracking cannabis cultivation and sales.
Simplifya: Provides regulatory compliance software for the cannabis industry.
BioTrackTHC: Offers seed-to-sale tracking solutions to ensure regulatory compliance.
Health Tech Firms:
Jazz Pharmaceuticals: Known for developing cannabis-based medicines like Epidiolex for epilepsy.
Zynerba Pharmaceuticals: Focuses on cannabinoid therapies for neuropsychiatric conditions.
Cannabis Dispensaries and Retailers:
To roll this all up, us job seekers need to be students of the market to understand where our next opportunities are. Last week we dove into how the Gaming Industry is rising from the ashes and the explosion of jobs that will come with the go-ahead given to many gaming studios. The cannabis industry is showing similar signs of life driven by a political and regulatory shift. Just be there with your net to catch these opportunities as they fly by!
🤰 New York is the First State to Mandate That Employers Pay for Prenatal Care Leave
In late April, New York Governor Kathy Hochul signed into law a new policy that will require employees to pay for 20 hours of prenatal care leave per 52-week period.
A few weeks later at the Moms First Summit in New York, a diverse group of policymakers, activists, and business leaders gathered to address the critical challenges mothers face in the workforce. The event highlighted the economic necessity of child care and family benefits, emphasizing that these are not just personal issues but essential for a thriving economy.
Key Takeaways:
Economic Impact: Investing in child care benefits yields significant returns for employers, improving employee retention and productivity.
Policy Changes: New York's policy for paid prenatal care is a groundbreaking move, setting a precedent for other states.
Employer Responsibility: Companies like UPS are leading by example with innovative child care solutions.
Public-Private Partnerships: Programs like the Tri-Share approach showcase effective collaborations to reduce child care costs.
🔧 Jobseeker Tools
🔦 Spotlight: Interviews.chat
Your Personal Interview Prep & Copilot - Now with vision capability for coding challenges and whiteboard tasks.
Other Jobseeker Tools:
Key Values - Find engineering teams that share your values
Himalayas - The best remote jobs at top remote companies.
CareerFlow - Land your dream job. Without the stress.
Sonara - Automate Your Job Search With Sonara
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