MedMen: what went wrong at the cannabis industry’s first unicorn, with Founder and former CEO Adam Bierman
Look, we’re going to tell you straight – this is a blinding episode – and that’s because we’re talking to a man who is unflinchingly honest about his Founder experience.
On the outside it looked like Adam Bierman had it all. He was the Co-Founder and CEO of MedMen, a cult phenomenon and the world’s first cannabis unicorn. They were seen as the Apple of weed and they looked unstoppable.
But in 2019, a year after hitting its all time high on the Canadian stock market, the company had lost 95% of its value. Adam’s personal wealth was also up in smoke because he hadn’t listened to his advisors – instead of diversifying his assets, he’d bought even more MedMen stock. And then came the lawsuits.
Adam is no longer with the company and was in a reflective mood when he sat down with Dan.
So what on earth happened? Why did he leave the company? And what has he learnt from all of this?