A bad experience with an edible? You may be part of the challenge facing the cannabis drinks industry
In today's big story, it's 2025, and cannabis-infused beverages are still on the cusp of becoming the next big thing.
What's on deck:
Markets: An investing legend shares how his hedge fund is using AI.
Business: What the new China chip taxes tell us about doing business in Trump's America.
But first, what are you drinking tonight?
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The big story
THC drinks are going flat
Have you ever tried an edible? Did you have a bad experience? If so, you may be part of the challenge facing some founders trying to sell the world on drinking cannabis.
For those already on board, the hesitation is hard to grasp. Cannabis beverages boast the buzz without the hangover. Consumers consider them to be healthier, and even the taste is improving, BI's Emily Stewart writes.
So, why isn't your fridge full of them?
Maybe you're a beer drinker, perfectly happy with how things are. Or perhaps you're a cannabis enthusiast, and the dosages — typically around 2 mg to 10 mg per can — are too mild to notice.
Or, possibly, you simply just haven't seen them. Dispensaries have had a tough time selling them, with cannabis drinks representing 1-1.5% of their total sales, per the cofounder of market research firm BDSA.
When the rest of their inventory is small, easy to move, and doesn't require refrigeration, cans of drink start looking cumbersome and costly to carry.
Then there's the regulations …
The legality of where and when these drinks can be sold is murky or downright unfriendly, even in some unexpected places, Emily writes.
In some states where marijuana is legal, like California, cannabis beverages are up against stricter regulations. Meanwhile, states like Texas and Florida have emerged as "hotbeds" for the products, according to a Brightfield Group analyst.
Despite this patchwork of regulations, Brightfield forecasts that hemp-derived THC beverages will hit $756 million by 2029. That's a solid 33% growth, but still a far cry from the US beer market, which is currently valued at $117 billion and not without its own threats (the latest is a group of young tech founders adding to the growing sober revolution: their bodies are temples and they need clear minds to "lock in").
For Blake Patterson, the chief revenue officer at Keef Brands, hope for the cannabis drink industry lies with an unlikely demographic: the " reclusive soccer-mom" constituency.
People who are too afraid to go into dispensaries because of the lingering stigma around cannabis, but might pick them up off the shelf in a liquor or convenience store.
They'll get "canna-curious," Patterson says, and start looking for what's next.
3 things in markets
1. This week's inflation report might be bad news, no matter what. Investors are worried that too-hot inflation could take a September rate cut off the table. On the other hand, a sharp drop in inflation could stoke imminent concerns about a slowdown. Here's a rundown of the Goldilocks scenario.
2. Quant pioneer Renaissance Technologies hit a mini dark age in July. Renaissance Technologies' two funds available to investors both lost money last month, BI exclusively reports. It also lost money in June amid a bad summer to be a hedge fund.
3. A hedge fund titan uses AI essentially as a "summer intern." On a Columbia Business School podcast, investing legend Seth Klarman said he and his colleagues mostly use AI as a time-saver, not as a stock-picker. He likened it to a capable assistant: "Not somebody who knows which stocks to buy, but a way to tabulate data quicker."
3 things in tech
1. How to succeed in tech with a liberal arts background. Mira Lane runs a team of philosophers and artists at Google. In order to make it as a non-technical hire in the industry, she says you need to have success in your field first — and still experiment with technology.
2. GitHub's CEO defends Microsoft's memo about evaluating AI use. Thomas Domhke said it was "fair game" to ask employees to reflect on AI usage, referring to an internal Microsoft memo that said using AI was "no longer optional." Domhke added that GitHub employees are required to use GitHub, and if they don't want to, there are "other tech companies."
3. If you can't beat 'em, join 'em. Revel is ditching its ride-hailing business in New York City and going all in on building EV charging networks, including to power the cars that drive for Uber and Lyft.
3 things in business
1. Ford's CEO is squaring up with BYD and Tesla. Ford CEO Jim Farley unveiled plans for a midsize EV truck starting at $30,000, which Ford hopes will help it take on competitors. Farley also said the automaker is investing another $2 billion in EV production.
2. Now Trump is tariffing American companies, too. Trump's decision to impose a 15% tax on Nvidia and AMD's chip sales to China shows a major lesson about doing business in his America. He's increasingly inserting the federal government into private companies' dealings, writes BI's Peter Kafka.
3. Will David Ellison's big bet to challenge Netflix pay off? The newly merged Paramount Skydance just landed a $7.7 billion deal for UFC streaming rights for the next seven years. Ellison is spending billions to turn Paramount+ into a major streaming player, but it could be just a pipe dream.
In other news
DoorDash CEO says he gets hundreds of emails weekly from customers and workers. They show it has work to do.
Gen Zers have serious investing FOMO.
The US military command that okays hopefuls for service is creeping toward a crisis.
Revel is ditching its ride-hailing business and going all in on EV charging.
An AI-driven "jobless recovery' could hit this group of workers particularly hard.
Are you getting bad investment advice from AI? Experts explain how to tell.
Elon Musk's Grok is briefly suspended from Elon Musk's X.
What's happening today
The Bureau of Labor Statistics releases July CPI data.
Hallam Bullock, senior editor, in London. Grace Lett, editor, in New York. Meghan Morris, bureau chief, in Singapore. Akin Oyedele, deputy editor, in New York. Amanda Yen, associate editor, in New York. Lisa Ryan, executive editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York (on parental leave).
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Apple iPhone 17, iPhone 17 Pro Release Date: New Date Enters The Schedule
Updated Aug. 13 with further details for the full schedule of what's coming when. In less than four weeks, all will be revealed about the iPhone 17 series. That's because on Tuesday, Sept. 9, Apple will hold its keynote unveiling the new hardware, I believe. Now, a new date has been added to the mix. You can read the full schedule here but it's also laid out in detail below. Apple iPhone 17 Release Date: The New Entry In The Schedule Mark Gurman's Bloomberg Power On newsletter is always full of interesting nuggets. In the latest issue, he mentioned something that has so far been absent from release date schedules. Among all the talk of the keynote date, the onsale date and even the date for when the keynote date will be unveiled (all of which are below, with timings down to the minute), there has been scant talk of the release for iOS 26. More than in recent years, the new software has captured the public's imagination this year. Although iOS 26 will be pre-installed on the iPhone 17 series, it will also work on iPhones all the way back to the iPhone 11. So, when will it go on general release? Gurman commented that the new software is 'pretty smooth', and has since said on X that the latest, sixth developer beta is 'ridiculously snappy'. So much so that 'it's clear that we're pretty close to the release of the final, public versions,' he said. I believe it's possible to pin the release down further than 'the first half of September,' as Gurman comments. Last year, iOS 18 went on general release on Monday, Sept. 16, exactly a week after the keynote and four days before the Friday, Sept. 20 onsale date of the iPhone 16 series. I believe this year's general release for iOS 26 will follow a near-identical schedule, and will be available from around 10 a.m. Pacific on either Monday, Sept. 15 or just possibly Tuesday, Sept. 16. I favor the Monday because excitement in the new software is so high Apple will want it out as soon as it can, plus, it seems in good shape already. iPhone 17 Release Date: The Full Schedule As for the rest of the schedule, here are the most important dates. I'll also update this post as soon as any are confirmed officially. First up is the announcement of the keynote. This is likely to be around 8 a.m Pacific, on Tuesday, Aug. 26. This is when invites are sent out by email to selected members of the press and special guests. The exact time is subject to an hour or so's leeway, and it's even possible that the invites will go out a day before. Check back here for details as soon as it's gone live. The next big piece of the puzzle will be the keynote itself. The time will be 10 a.m. Pacific, as this is always Apple's chosen time for Cupertino unveilings. I believe it will be on Tuesday, Sept. 9 and the possibility of a date change now seems vanishingly small. Pre-orders open: 8 a.m. Pacific, Friday Sept. 12. Reviews appear: Tuesday, Sept. 16 or Wednesday, Sept. 17, likely 6 a.m. Pacific. Onsale date: Friday, Sept. 19 at 7.a.m. wherever you are.
