logo
Members-Only Event: The Future Of The Cannabis Industry

Members-Only Event: The Future Of The Cannabis Industry

Forbes17-04-2025
Cannabis is still illegal on the federal level, but that hasn't stopped entrepreneurs from creating a $30 billion industry. Join us on Monday, April 21st at 12 PM EST as some of the most successful founders talk about what it is like to do business, and where the opportunities are, in America's blossoming weed economy.
Attend and learn:
Will Yakowicz
Forbes
Will Yakowicz is a staff writer on the vices beat, covering cannabis, gambling and more. He believes in the many virtues of vices. Previously at Forbes, he covered the world's richest people as a member of the wealth team. He has also been a staff writer at Inc. magazine where he wrote about entrepreneurs doing business in the legal fringes of society. Before that, he reported stories that took him to the West Bank, Moscow and Brooklyn.
Kristi Palmer
Forbes
Kristi Palmer is the co-founder and president of Kiva Confections, makers of the most recognized, trusted, and beloved cannabis and hemp edibles available across the U.S. Her passion for creating a healthy regulatory environment for the industry led to serving on the boards of several reputable cannabis trade organizations including nine years on the Board and a term as President for CCIA (CA Cannabis Industry Assoc.), and as a founding Board member of CCMA (CA Cannabis Manufacturer's Assoc.).
Kyle Sherman
Forbes
Kyle Sherman is the Founder and CEO of Flowhub, the cannabis retail software company for dispensaries nationwide. In addition to founding Flowhub, Kyle is the creator and producer of The Great American Dispensary Tour docuseries, which showcases the intersection of culture, policy, and technology shaping the future of the cannabis industry. Kyle has been named on Cannabis 42.0 by Forbes, Top 100 Cannabis Leader by Entrepreneur Magazine, and 30 AND UNDER by Business Insider. Kyle's leadership extends to his work as a Founding Director and former Vice Chair and Treasurer of the Cannabis Trade Federation (CTF), as well as a Founding Director of the US Cannabis Council (USCC), organizations dedicated to building an inclusive cannabis industry and passing federal cannabis legislation.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US faces $9.4bn tourism loss from new $250 visa fee targeting African countries
US faces $9.4bn tourism loss from new $250 visa fee targeting African countries

Business Insider

time6 hours ago

  • Business Insider

US faces $9.4bn tourism loss from new $250 visa fee targeting African countries

The United States could forfeit an estimated $9.4 billion in visitor spending over the next three years following the introduction of a new $250 'visa integrity fee,' according to industry groups, who warn the policy risks undermining tourism and costing thousands of jobs. The U.S. government recently introduced a $250 'visa integrity fee,' provoking concerns about negative impacts on tourism and economic activity. The Congressional Budget Office estimates the fee could generate $27 billion over ten years Industry experts however, claim the fee may lead to a loss of $9.4 billion in visitor spending and 15,000 travel industry jobs The United States' decision to introduce a $250 'visa integrity fee' on international visitors has triggered sharp criticism from the global tourism industry, with officials warning that the measure could deter millions of travellers and cost the U.S. economy billions. The $250 'visa integrity fee, ' part of the One Big Beautiful Bill Act signed on July 4, 2025, will take effect later this year. According to immigration law firm Envoy Global, it applies to all nonimmigrant visa holders which include students, tourists, temporary workers, and business visitors particularly from African countries. The fee is non-waivable, non-reducible, and charged on top of existing MRV, anti-fraud, and reciprocity fees. The policy has drawn particular concern across Africa, where high travel costs, tariff barriers, and strict visa regimes already limit access to the American market. For many middle-class travellers from Nigeria, Kenya, South Africa, and Ghana, an additional $250 charge could turn U.S. tourism into a privilege reserved for the ultra-wealthy. Economic Fallout According to the U.S. Travel Association, the fee is expected to reduce visitor spending by $9.4 billion and tax revenue by $1.3 billion over the next three years. The group also estimates that about 15,000 U.S. travel jobs could be lost as a result of fewer international arrivals. Forbes reports that these projections stand in sharp contrast to calculations by the Congressional Budget Office (CBO), which expects the fee to generate $27 billion over ten years, roughly $2.7 billion annually, for the U.S. Treasury. However, industry economists argue the CBO analysis focused only on revenue collection, excluding the wider economic fallout of reduced travel demand. 'By longstanding tradition, the Congressional Budget Office does not incorporate macroeconomic feedback effects into its traditional cost estimates, ' a CBO spokesperson told Forbes. 'We didn't specifically do a dynamic analysis of this provision.' Similarly, Tourism Economics, a division of Oxford Economics, estimates the $250 fee could discourage 5.4% of international visitors, almost one million trips annually. Fewer visitors mean reduced spending on hotels, restaurants, retail, and cultural attractions, which in turn lowers tax income and weakens job creation. Erik Hansen, senior vice president of government relations at the U.S. Travel Association, said: 'Congress made the mistake of assuming that this worldwide visa integrity fee would not have a big impact on visitors from countries like India or Brazil. This is the exact type of armchair public policymaking that is going to get us into a big mess.' While Hansen highlighted India as a 'bright spot' for inbound travel, with Indian tourists spending $13.3 billion in the U.S. in 2024, similar growth has been recorded across Africa. Demand from students, entrepreneurs, and leisure travellers has been rising since the pandemic, with airlines such as Ethiopian Airlines, South African Airways, and Royal Air Maroc expanding U.S. bound capacity. However, a new supercharge from Washington could halt this trajectory. For African students in particular, the cost comes on top of visa application charges, SEVIS fees, and proof-of-funds requirements. Analysts warn that the fee risks slowing down people-to-people exchanges, business travel, and academic opportunities that have traditionally linked the U.S. and Africa. And could redirect African families to more accessible destinations such as Canada, the UK, and China. Refund Controversy Congress has described the fee as refundable once a visa expires, provided all conditions are met. But with most U.S. visitor visas valid for ten years, the refund process appears impractical. ' The idea that you're going to give the government money and then wait around 10 years and remember to ask for it back, even if you followed the rules, is just absolutely crazy,' Hansen told Forbes. The CBO itself acknowledged that only 'a small number of people would seek reimbursement' and noted that the State Department would require years to create a refund system. Tourism Competitiveness at Risk The timing of the new fee raises further questions about U.S. tourism competitiveness and openness, especially as the country prepares to host global sporting events like the Olympics and the FIFA World Cup. A World Travel & Tourism Council (WTTC) report in June forecast that international visitor spending in the U.S. could fall by as much as $29 billion in 2025, the only major economy projected to see a decline. 'While other nations are rolling out the welcome mat, the U.S. government is putting up the 'closed' sign,' Julia Simpson, president and CEO of WTTC, said. Outlook Unlike travellers from over 40 countries, including Japan, South Korea, most of Western Europe, and Australia, who enjoy visa-free entry to the U.S. under the Visa Waiver Program, no African country is included. This means African travellers, already burdened with strict visa requirements, will be disproportionately affected by the additional $250 fee. Fewer Africans travelling to the U.S. could mean reduced cultural, academic, and professional exchanges, weakening U.S.–Africa ties at a time when China, Europe, and the Gulf states are aggressively courting African travellers. The fee could also discourage family visits, cutting remittance-linked travel flows, and make it harder for African SMEs and startups to access U.S. markets.

Global Networks Help Women Advance In The Hospitality Industry
Global Networks Help Women Advance In The Hospitality Industry

Forbes

time8 hours ago

  • Forbes

Global Networks Help Women Advance In The Hospitality Industry

Women in hospitality are being assisted by global networks. Eric Sun Photography The global hospitality industry, a behemoth sector with a market size of nearly $4.7 trillion annually, is projected to grow to $5.8 trillion by 2027, according to Forbes. The industry encompasses a wide range of businesses, including hotels, restaurants and various leisure activities. The industry is experiencing trends like increased personalization of guest experiences, the rise of "bleisure" travel (combining business and leisure) and the integration of new technologies like AI. The US hospitality market is a significant part of the global industry, with a market size of $247 billion in 2025. The US leisure and hospitality sector employs around 17 million people, while the US hotel market was valued at $263.21 billion in 2024 and is expected to reach $280.63 billion in 2025. Women are gaining more spots at the podium each year. Lucas Savoie The Network of Executive Women in Hospitality (NEWH) is the international community connecting the hospitality industry, providing scholarships, education, leadership development, recognition of excellence and business development opportunities. NEWH, Inc. recognizes the talent and ability of students and encourages involvement in all areas of the Hospitality, Foodservice and related fields through scholarships, seminars and educational programs. It's about Scholarship, Education and Business Networking. The World Travel & Tourism Council is a global authority on the economic and social contribution of Travel & Tourism and promotes sustainable growth for the Travel & Tourism sector. 'These women are experienced, adaptable and people-focused,' says Esther Hertzfeld, Executive Editor of HOTEL MANAGEMENT. 'They don't hesitate to speak up and advocate for themselves and their teams. They also put themselves out there. You'll see them educating and advocating at industry events. They are also at the forefront of industry, whether they are in investment, operations, technology or anywhere else in the hospitality ecosphere.' Sandy Banks, President, NEWH. NEWH Forty-one years ago, several visionary women identified a need in the hospitality industry to address a lack of equality, inclusion and diversity and took necessary steps to form an organization that would support women and young people pursuing hospitality careers. NEWH, as it was known then, Network of Executive Women in Hospitality, was born. Our mission is simple and powerful. NEWH is the international non-profit community connecting the Hospitality Industry, providing scholarships, education, leadership development and recognition of excellence. Forty one years later, we not only continue this mission, we have expanded it beyond women and young people to include people from all generations, genders, racial and cultural backgrounds who are underrepresented in the hospitality industry and as the demand for safe inclusive spaces increases in our world. NEWH proudly champions equity, inclusion and diversity across everything we do, from scholarships and education, to networking and membership. We have contributed to building a diverse, global community that champions inclusivity and belonging in the hospitality industry. The testimonials from our scholarship recipients, those involved in our mentorship program and attendees of our Leadership Conferences confirm that we have built a platform that supports membership and participation from people of all backgrounds around the globe. We continue to work at maintaining crucial educational opportunities and providing programs that are inclusive and relevant to the survival of our hospitality industry. We are invested in being a lifeline for people of all ages, backgrounds and genders who are interested in excelling in the hospitality Industry. Why are inclusive cultures so vital for the hospitality industry? In short, the hospitality industry spans the globe and touches all cultures, countries and humanity. We must have representation in all areas of our industry if we are going to be successful as a sector. Inclusivity is no longer optional, it is essential in today's world. Inclusion and diversity play a vital role in the success of businesses, the health of communities and the well being of cities and neighborhoods everywhere. Because the hospitality industry touches nearly every corner of life, through travel, lodging, dining and experiences, it carries an even bigger responsibility. Whether people are traveling by air, train or car, staying in hotels or airbnbs, cruising the seas or dining out, they are interacting in our industry. Our reach is global, and so is our impact. That is why we must be intentional and vigilant in curating environments that make people feel comfortable and that reflect our global diversity. Everyone deserves to feel welcome in the spaces we create. Julia Simpson, World Travel & Tourism Council President & CEO. WTTC Julia Simpson, WTTC President & CEO, addressed trends and issues facing women in hospitality. Women are graduating from hospitality programs at high rates. What can you attribute this to? We are a new generation of talent that views Travel & Tourism as a serious global employer with long-term career potential. The sector has evolved. It is increasingly recognized as a driver of economic growth, innovation and international engagement. This is attracting ambitious women who are looking for careers that are both dynamic and globally relevant. At the same time, educational institutions have matured in how they present the sector: shifting from a purely service-oriented view to one focused on leadership, entrepreneurship, technology and global mobility. That repositioning is critical. The demand for female leadership is rising across industries, and Travel & Tourism is no exception. The challenge now is to ensure that this strong pipeline translates into leadership at the top. Gender equity should be embedded into succession planning. WTTC What will it take for women to reach parity at the executive levels in the hospitality industry? It requires structural change. Parity will not be achieved through goodwill alone. It demands data-driven targets, leadership accountability, and a willingness to challenge legacy systems and mindsets that no longer serve the needs of a modern, high-growth sector. Companies must take ownership of talent development at the executive level. This means embedding gender equity into succession planning, aligning incentives to performance on inclusion linked to results and ensuring that pathways to the C-suite are transparent and accessible. Gender-diverse leadership drives performance, innovation and resilience. The industry can no longer afford to treat this as optional. Strong professional networks play a vital role for women in hospitality. WTTC The statistics reveal that more and more women are beginning to start their own hospitality businesses. Explain this growing trend. Women are reshaping the hospitality sector through ventures that are agile, values-driven and globally connected. This shift reflects not only increased access to capital and technology, but also a determination to lead on their own terms. Some, like Andrea Grisdale of IC Bellagio, have built exceptional businesses from the ground up, guided by a clear purpose and local expertise. Others, like Gloria Fluxà, have taken forward family enterprises while embedding sustainability and innovation at scale. These different paths reflect the breadth of leadership now shaping our sector. Critically, mentorship and strong professional networks play a vital role. Women who have access to experienced guidance and supportive peer communities are more likely to lead, grow and overcome structural barriers. Empowering more women to connect, share and support one another is essential to sustaining this momentum. Forbes UHNWIs Opt For Safaris In Exclusive And Restricted Locations By Roger Sands Forbes Pakistan's Ski Terrain May Be The Sport's Best Kept Secret By Roger Sands

D.Law Named to Inc.'s 2025 Best Workplaces List
D.Law Named to Inc.'s 2025 Best Workplaces List

Los Angeles Times

time11 hours ago

  • Los Angeles Times

D.Law Named to Inc.'s 2025 Best Workplaces List

The annual list recognizes the businesses that set the standard for workplace success and awards excellence in company culture is proud to announce it has been named to Inc.'s 2025 Best Workplaces list, honoring companies that have built exceptional workplaces and vibrant cultures that support their teams and businesses. This year's list, featured on is the result of comprehensive measurement and evaluation of American companies that have excelled in creating exceptional workplaces and company cultures – whether inperson or remote. The award process involved a detailed employee survey conducted by Quantum Workplace, covering critical elements such as management effectiveness, perks, professional development and overall company culture. Each company's benefits were also audited to determine overall score and ranking. is honored to be included among the 514 companies recognized this year. 'At we believe our people are the heartbeat of everything we do. From professional growth opportunities to team celebrations and community involvement, we're committed to cultivating a workplace where everyone feels empowered, supported, and inspired to do their best work,' said Emil Davtyan, founder and managing attorney. 'Being named one of Inc.'s Best Workplaces confirms that our focus on people-first culture makes a meaningful difference. We're proud to be part of a new generation of firms that are redefining what it means to be in this profession.' Founded in 2015, is a purpose-driven law firm focused on providing compassionate, effective legal services to clients across California. With a team-oriented approach and an emphasis on continuous learning, has quickly built a reputation for both its client service and its inclusive internal culture. The firm is part of a growing movement to redefine what it means to be an employment law firm by putting people, empathy and impact at the center of everything it does. 'Inc.'s Best Workplaces program celebrates the exceptional organizations whose workplace cultures address their employees' welfare and needs in meaningful ways,' says Bonny Ghosh, editorial director at Inc. 'As companies expand and adapt to changing economic forces, maintaining such a culture is no small feat. Yet these honorees have not only achieved it – they continue to elevate the employee experience through thoughtful benefits, engagement, and a deep commitment to their teams. is an employment law firm dedicated to defending the rights of workers under California employment law. Based in Los Angeles with offices throughout the state, represents workers in every industry, whether they work for large corporations or small companies. specializes in the full range of employment law, including wrongful termination, pay and overtime issues, discrimination and harassment, workplace retaliation, leaves of absence and more. attorneys have over 350 years of collective experience in employment law and have helped over 150,000 workers get more than $1.5 billion in settlements.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store