How To Get A Job At High Times – The investor webinar in mid-May began with a discussion of the company’s debt load, prospects for an initial public offering and its plans for a stock split. Things changed when the string of financial jargon briefly gave way to the sound of bubbling water.
Since three years ago, Levin has faced complaints that he was using the magazine’s brand for profit without regard for its storied history in cannabis culture. With skepticism on his high street, Levin showed off by fielding questions from potential investors.
How To Get A Job At High Times
“I can’t read your name because my eyes are following this bong,” the private equity investor told one questioner. By tracking stock sales in real time, he offered to smoke one more time to spot the next investor cashing in online. Before the caller could catch him on the call, Levine followed through anyway.
From The Archives: Pets On Pot (2007)
A few weeks later, the company announced a deadline for the Securities and Exchange Commission to disclose its financial condition, causing the stock offering to be halted.
Long the biggest name in American weed, High Times has fallen on hard times. Since its inception in 1974, Marijuana Record magazine has attracted a loyal audience not only among recreational users, but also among growers and activists who see cannabis as a lifestyle and a cause.
For generations of readers, it was a “voice in the wilderness,” explained former editor David Beanenstock, “talking about the harms of the drug war, talking about the racism of the drug war, talking about the medicinal benefits of the plant, teaching people was giving All over the country and all over the world, how can we grow this plant and take that culture forward.
Constantly defying the authorities, the magazine became a symbol of the counterculture and an essential guide to the cannabis underworld. It also survived the suicide of its outlaw founder, the war on drugs and three federal grand jury investigations.
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But now that cannabis has been legalized in many parts of the country, High Times finds itself in a different kind of trouble.
A review of SEC disclosures and court filings, as well as dozens of interviews with former employees and others with insight into its operations, paints a picture of a company that has traded on its reputation in cannabis circles to chase big “green rush” profits. It came true.
Above: Visitors pose for a photo at the 2017 High Times Magazine Cannabis Cup event in San Bernardino. Bottom, left to right: Snoop Dogg attends the 3rd Annual “Stony” Awards presented by High Times in New York City in 2002. James Franco arrives at the 2008 Stones in Malibu. And Tommy Chong arrives at Estonia 2010 in Los Angeles. | AP Photo; Getty; magical movie; AP
Less than a decade ago, High Times was entering a golden age, poised to take advantage of mainstream weed prizes, riding the strength of a highly successful events business anchored by its Cannabis Cup tournaments. But the death of its longtime boss Michael Kennedy in 2016 upset the delicate balance of power in what was essentially a family business. Private equity firm Levin Oreva Capital bought the company a year later with the participation of reggae star Damian Marley. High Times’ moves since then — to expand its live events, launch its own dispensaries and open a delivery service — were to establish it as a 21st-century media brand and a leading player in the business. Put legal pot growing.
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Instead, there have been layoffs and resignations. The publication of its flagship magazine has been stopped and court cases have accumulated.
This latest chapter of High Times’ storied existence closely follows the state of the wider cannabis industry. The initial promise of the Green Rush has, in many ways, given way to frustration that legal cannabis has become a mercenary business, benefiting minority communities harmed by the drug war or even offering lucrative returns to investors. Professional does not provide.
“High Times has become very much a symbol of the corporatization of cannabis,” said a former editor, one of several departing employees who spoke on condition of anonymity. “I can’t think of a better symbol than what happened to it.”
The company is selling stock to consumers at $11 a share, while disclosures suggest that savvy institutional investors have secured stock deals at an effective price that is much lower. The company has also repeatedly delayed plans for an IPO, raising the possibility that its stock will never be publicly traded.
High Times Aug 09 (digital)
On several occasions, High Times has announced acquisitions and partnerships, only for the parties involved to oppose the announcements or for the deals to be quietly scrapped.
The CEO and minority owner of a Los Angeles pharmacy said he was shocked that High Times announced it had acquired a majority stake in his business because, he said, the purchase was not valid without his approval. “This Adam, he’s sleeping,” CEO Alexis Branson said.
“High Times has become a symbol of the corporatization of cannabis. I can’t think of a better symbol than what happened to it.
In one case, the founder of a popular cannabis festival claims High Times deliberately drove him out of business and maneuvered behind the scenes to prevent his event from going ahead, a charge Levine denies.
High Times Marijuana Magazine Issue 275 April 2007 Redman
The company’s new approach has alienated everyone from old-timers to former Mexican President Vicente Fox, who resigned earlier this year amid concerns over repeated delays to a planned IPO, according to his senior adviser, Juan Garcia. “Being a former president of a country, we could not allow him to face any wrongdoing,” Garcia said.
Levin, who agreed to respond to emailed questions, argued that he has put the company on a path to success in a challenging business environment and said he is looking to take the company’s stock public by October. “I understand there will be those who believe High Times has lost its way,” he said. “This industry is bad sometimes.”
The magazine’s path to this point has been a long and strange journey in 50 years of American history.
In the second half of the 20th century, the national culture turned to sex, drugs and rock and roll, bringing together the magazines: Playboy, Rolling Stone and High Times.
High Times Magazine Cannabis Cup Promo On Behance
The origin of the pro-drug publication follows this cultural shift: from adaptation to disillusionment and hope that consciousness-raising drugs can usher in a world of peace and free love.
Born Gary Goodson in 1945 and raised in Phoenix, High Times founder was the son of a military contractor who died in a car accident at a young age. Goodson studied business at the University of Utah in the early 60s, but during that decade he increasingly strayed from his narrow path.
By the time he went to college, advances in printing technology had dramatically lowered the cost of periodicals, and small, independent centers were springing up across the country. When not studying business, Goodson dropped out of college to join the Utah Socialist Press, a subversive organ of the growing underground press movement.
The appeal of this counterculture only increased when Goodson’s peers traveled to Vietnam to fight a war they didn’t believe in, and psychedelic use became a political statement in favor of peace.
High Times June 2014 (digital)
For America’s alienated youth, radical publications provided an outlet for their disgust with the status quo. “While people are being beaten, starved, and killed,” Goodson once said, incriminating the mainstream newspapers, “you fill your rag pages with news of cake sales and first balls.”
Left: Various fashion magazine covers in 1977. Right: A meeting of the International Youth Party at Tom Fourcade’s underground press syndicate office (top right), in New York City, 1970. | Getty Images
When President Lyndon Johnson increased American involvement in Vietnam, Goodson joined the Air Guard and learned to fly, but soon left to enlist full-time in the counterculture and returned to Phoenix to start his own radical magazine, Orpheus. . He supported the publication by smuggling weed, both by land and, thanks to his military training, by air. To avoid embarrassing his family, he began using the name Thomas King Forkid.
Fourcade, who stood 5-foot-7 and weighed just 120 pounds, made up for his diminutive frame with a big personal style: He wore his hair shoulder-length, sported a Fu Manchu mustache and accessorized his smuggler-chic look with brimmed hats. Sometimes he wears a cape.
Vintage High Times Magazine May 2000 12th Annual Cannabis Cup
In the late 1960s, the FBI Edgar Hoover considered the underground press a threat to national security and helped local police harass publications across the country. An undercover drug agent infiltrates Orpheus
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