How to Build a Successful Cannabis Brand w/ oHHo's James and Nicola Stephenson

I have to just tell everyone I finish mine, and I feel awesome. (laughing) - Love. - That's good. - But I don't feel like, oh my God, I have to call my doctor, or I just feel the chill. - Yeah. - Like relaxed. (upbeat music) - This is financial team. (upbeat music) - Some evil thing happened here. I mean, how did you happen here? - Three people died in a quiet suburb in Mississauga, Canada. - It's not a coincidence. - One after the other, in the same house. Is this bad luck, or something more sinister? - The worst investigative mess I've ever encountered. - Long simmering what took you so fucking long to get here. - From Sony Music Entertainment, this is what happened to the Harrison's. I'm Amy Dempsey-Raven. What happened to the Harrison's is available now on the binge. Search for it wherever you get your podcasts to start listening today. Subscribers to the binge can listen to all episodes, all at once, add free. (upbeat music) - Hello, I'm Simon Mayo, and I'm Mark Kermod. What a great episode we have for you lined up. Mark, what are you doing on the latest take? It's a packed show. We have reviews of Heart of the Beast, Brad Pitt, and a dog, her private hell, the new film from Nick Winding-Refon, a Bournemon in the Devil, a documentary about the worst film ever made, and sense and sensibility with our super special guest, gorgeous George McKay. Don't miss a single second of the latest take. - Okay, today I have a very special couple guest. I know you guys love when I have couples on. So I invited James and Nicolac, who founded this amazing luxury cannabis and CBD wellness brand, Oho. Okay, today is sort of like 420th AM to JK, but it's like get on board. So you guys welcome to the Financial Tea Podcast. - Thanks for having us. - Oh, and I didn't mention they have British accent. So it's like gonna automatically be a really cool episode just for that reason. But first, let's get into the MDJ market report. Okay, what's up, Sippers? Welcome back to the MDJ market report. I'm coming to you live from Los Angeles. Yes, your girl is in California. I have two stories for you this week, 'cause you obviously need to know how the market's moving, but these were the ones that really jumped out. And then obviously, do you have to say go, Nick, because they're playing. Don't sports bet, obviously, no sports betting. So our first story is about Trump accounts, which a lot of you asked me about, 'cause I feel like a lot of my Sippers have kids, and they're like, okay, what do these mean? We're gonna get free money, I'm confused. And when they were first announced, I was talking about them, but there was no way to actually sign up or make it happen. And so I wanted to mention them on today's show, because they're finally up and running they're officially here. And the deal is that any child under 18 with a social security number is eligible for them. But the kicker is that children born between 2025 and 2028, shout out to my nephew, Ernest, can get a $1,000 government contribution. So that means that if you have a kid born between 2025 and 2028, $3,000 in that account if you sign them up. That's the most important thing though, guys. You're not gonna automatically get the $1,000, you need to actually sign up for it. And then after that, you can contribute up to $5,000 a year in the account, which sounds great, but there's like a lot of restrictions with the account, like they control what you invest in, and like all these things. And so I would rather you focus on like a 529 and a custodial Roth IRA and those other children accounts if you're gonna be putting extra money into it. But please get the $3,000 because that is major. And this is also just a great incentive to start investing for your child at birth because if you do that and you let compounding do its thing, with this account, if you max out the contributions every year, the account could hit $191,000 by age 18 and by retirement could be over $2 million, which is huge. So yes, take the $3,000, but really look at this as a bonus account, not the main event, a 529 or custodial Roth is gonna give you better tax advantages. The Trump accounts are really nice, but they're definitely not the most powerful tool in the toolbox. So we love them, but we also are not like, gonna get catfished into only using them. Okay, and then the second story I wanna talk about is back rooms. So the number one movie in America this weekend was back rooms, which was directed by Kane Parsons who is 20 years old and started making videos about the concept on YouTube as a teenager. And the movie cost about $10 million to me and it pulled in over $80 million in its opening weekend alone, 80 million. So this is so crazy, I think, just as like an economic signal because for the last decade, Hollywood has been obsessed with franchises, like that's what they've been betting on, Marvel, Harry Potter, like anything with a built-in audience. But I feel like this is a ship because studios are now going to figure out that internet communities are actually intellectual property. Like back rooms wasn't just a movie, it was years of YouTube videos and fan theories and games and lore that built this deeply engaged audience before a studio even spent a dollar. I think that these communities are more loyal, they're younger than traditional audiences and they're also cheaper to reach. So I would not be surprised if we saw the Hollywood model flip and instead of like creating a franchise and then trying to find fans, studios wet first for where fans are and then turned them into the franchise. And so I think that we're going to see a lot more YouTubers and creators with Hollywood deals because really, the content isn't even the asset, the audience is. But love you guys, I will see you next week and I hope that you love this episode. Be sure to rate, review, subscribe. Let me know if there's any guests that you're dying for me to have. We love all the feedback and stay rich and enjoy that episode. We always start the show with the same way. I'm going to ask you three rapid-fire questions coming at you. What is your financial ache? - I hate meanness. - Like meanness with, like be like this. - Like meanness with money, being tight with money, like being tight with other people with money, that's my way like, okay, like cheap. - Be sure to, yeah, don't be cheap. - Okay, love that, that's my ache. - Great, James would love me to be more cheap. But my, my ache would be, yeah, people who are cheap. - My ache is when she's not being cheap. - That's a good ache. Okay, what were your best and worst purchases of the week? I know it's only Tuesday, but. - Wow, yeah. - I bought a very overpriced, but handmade pair of slippers. - So it was best because they are absolutely beautiful. And I'm going to shout out the brand called Sand M. But of course, I did not ask the price, not thinking they could possibly, we won't take all of it. So it's my worst too. But they're beautiful, check them out. - So that's a good worst, 'cause you love the slippers, but also like the price. - Not quite, not quite what I was planning. So there I am being cheap, but I was trying, I was hoping, yeah, no, best and worst. - It's a relief for me. I don't think I've bought anything yet. - You probably bought something. - What about all your teculas? - I bought too many teculas last night, yes, good point. - And lastly, do you feel rich today? - No. - Rich and experienced. - Rich and experienced, okay, we're going to get into that. - We're in a startup, so no. - Yeah, no, I got it. - We're so deep. - We're so deep. - We're so deep. - We talked to me about that. Like when you're in a startup like this, like it is impossible to really feel like, okay, like ever financially confident or like solve it, I feel like it's always- - It's getting there. - It is, okay, great. - But it takes time. - Yeah. - And it's taking a long time. - Well. (laughs) - Too long. (laughs) - Yeah, and we had sold a company. My first company, we had sold in 2018. And so we felt rich for a minute. And then- - What was our company? - It was a PR company. - Oh, cool. - Our marketing company. And it was in London and New York. And we sold it to a group that was gonna go public. And everything that could have gone wrong in that transaction went wrong. That is a story from our teeny. - Okay. - And so- - Very rich. - So you feel like you're rich, you know, for a minute and you get that money in your bank account and you're like, wow. And then we got into- we were not aligned with our acquirers, which happens all the time when you sell your company. And that is something someone should write a book on. And so we ended up in a fight. So we spent money fighting. - So you don't want to do. - So you had to spend what you made on lawyers. - So that was part of it. But my- - A substantial proportion. - So substantial. - But my dad also gave me some really great financial advice, which of course I ignored when he was alive, which is it's all very well selling your company and having that moment. But the minute you're not working, you're not earning. - Yes. - And so you're into reserves and your life doesn't change, right? You're still going to the grocery store, you're still sending your kids to school, you're still- - Yes, it's been an exponential amount of money, you know. - Different. - Yeah. - But then you're living on your reserves and we are both, I speak first both, but we are both completely unemployable. So then we had to start again. - No, I agree with that. I am also an employer bot. - If I were this or nothing. - I've got far too much to say for myself. - Yeah, yeah, I agree. and then you're going to put the money that you have into starting something new. And then that's going to take time. So it just, yeah, it all is a cycle. And then you have to, you know, everyone's like, "Oh, is that company that's doing 100 million?" And I'm like, you know, that great expression of it takes whatever 25 years to be an overnight success, right? Like, it takes a long time. It's so funny, too, because I feel like the media loves to highlight, of course, the overnight successes. But like, I know, with Mrs. Dow Jones, like, this is year nine for me. - Yeah. - And like, it's the nicest thing. - Oh, it's been one foot in front of another, like, even now being in this moment with the book and stuff, it's like, it doesn't. This was all day by day. And there's, of course, those people who start on social media and are immediately one weekend have 300, 400,000 followers, but it's just couldn't have been me. You know, that's who they always compare you to, though. - But I don't know that it's anyone, when you really look into it, they've all had different. So, yeah, anyway, I was very short, no, for me. You might be feeling which today, I don't know. - Yeah. - I love it. - When you put your body in the hands of a surgeon, you assume your doctor will do you no harm. - I'm looking at the surgery board for tomorrow. These people are (beep) crooked doctors have launched their most ambitious fraud yet, worth over $1 billion. - One doctor says, "My kickback was 25,000," and the other doctors go, "I only got 12,000." - From Sony Music Entertainment and Western Sound, this is Dr. Billions, coming October 1st to the binge. Listen, wherever you get your podcasts. - Some evil thing happened here. - Three people die in a quiet suburb in Mississauga, Canada. - One after the other in the same house. - Is this bad luck or something more sinister? - Long simmering, what took you so fucking long to get here. - Good. - But I do feel like the universe is sort of shouting at me today that I need to trade my obsession with drinks and alcohol for THC. And this is really where Oho comes in. So I've actually never tried it. So I feel like it's just maybe the time. I don't know, is it crazy? Should we just pop one? - So there's a three-mellogram. So they're the lowest we do. So yeah, very relaxed. - Okay, so can a lopin' wildfire honey for so like gorgeous? - This is our summer favorites. Can a lopin' wildfire honey. - Okay, cheers. - Cheers. - You're a little hungover too. - Me neither. - No, no, no, couldn't be you. Oh, that's so good. - It's pretty good on. - Oh my God, the canelo. When do you ever have like a canelope as a flavor? That's so thoughtful. - It really is. - It hits, but it's like a very canelope. - And then you got the honey kind of from the fridge. - Yeah, it doesn't feel at all artificial. Like it's just like, I feel like. - That's all thing. - This is amazing. - Okay, I'll sit, please. - Yeah, you need a sip. And now that we're really like selling it, we're not having it, but it's so good. Okay, so. - So this is a limited flavor. So yeah, this is for the summer. - I love it. So, but speaking of like, you know, people thinking about not drinking, we're seeing this massive cultural wave right now. Like the data is showing that Gen Z is drinking 20% less alcohol per capita than millennials. - Yeah. - Recent polling shows only about half of Americans under 35 are drinking alcohol at all, which is crazy. And I feel like younger generations are just so much more mindful. Like, and they associate alcohol with like, you know, bad sleep and anxiety and a hit to their productivity and mental health. And so I'm just wondering, like, how did this sober, curious trend sort of affect your initial decision to start Oho or were you just, did you happen to just catch the perfect wave? - A little bit of both. We didn't start and drinks initially. We started in right back when, in like 2021, we started on CBD, that kind of. - Oh, wow, okay, amazing. - Yeah. Realized there's a lot of mediocrity in the category. Sort of spent a year trying to develop some great products, find some great partners to make them. And then we started on in CBD, tinctures, gummies, topicals. I was always very skeptical about topicals about, you know, putting CBD in topicals. It was really actually going to work. - Including to try. - Yes. - Oh yeah, I love it. - Those are like creams. - Oh, they're amazing. - They are, they are if they got a decent amount of, you know, cannabinoids in them. - Oh wow. - But a lot of them have like 25 milligrams of CBD in the entire part and it's not going to do anything. - Okay, I'm so excited to try. - Yeah, so we went into, into, into topicals. Shopbooks became a huge thing. We talked the story about that one. How that came about. Yeah, we were working with a hotel group approached us about having our sleep products in the rooms and they wanted to use our tincture. And we were like, that's a kind of big barrier. You know, I kind of imagine you checking into a hotel and opening a tincture and how much do I take? And so we created a chocolate square, you know, that used to get when you, you know. - Oh, that's so smart. - Like the pot on the pillow. - Mm-hmm. - To put on the pillow. - But Jay is really obsessed with drinks. - Emily. - Yeah, I just saw drinks as the biggest opportunity. - I mean, this is so good, but also even you saying the hotel group thing, I'm like the whole vibe of the brand feels really elevated, you know. Like this feels like something that, I mean, we're talking about Gen Z and millennials, but this feels like something that even if you're sort of like above that age category, you could go for. - Yeah, and have something that feels approachable and, you know, a lot of hemp products historically and, you know, marijuana products have been probably targeted. - Probably targeting leaves. - Yeah, targeted towards guys, not, you know, feel a little bit intimidating. This is really a product category that's exploded, that is really aimed at the kind of everyday consumer, you know, and they're shopping in the grocery store, the liquor store or whatever. And so it's a really new audience as well, I think. - Yeah. - So there wasn't like this aha moment when you realized that the culture was shifting dramatically, it was sort of like you said, like a series of events. - I think everything that we were doing, which is very typical of startup, led us to like, you know, keep evolving. - We initially developed these for the regular basis market in New York, but the reality is drinks make up such a tiny proportion of dispensary sales, like maybe one or two percent. And then along came this opportunity to derive the THC from hemp, which was federally legal. So it allowed us to then sell it in retailers by liquor stores and grocery stores, and it just changed the landscape completely. - I love that. So the other thing that I was thinking about before you came on was, you know, all of these celebrity liquor brands, like there was such a gold rush there. - There was. - I love, you know, we saw Casa Migos, we saw the rocks tequila, like all of these brands, and then of course the Kardashians jumped on board, and, you know, Kendall started eight one eight, which hasn't sold, doesn't seem to be doing incredibly well. And then Kylie started sprinter, which was, you know, canned cocktail line, and now they're pivoting to electrolytes. So I'm just wondering, like, do you think that canned cannabis cocktails are sort of going to replace the traditional celebrity tequila or a salsa? And then when you're launching the brand, did you ever think about bringing maybe a celebrity on to front it to sort of follow that wave? - So I think the alcohol category itself has done an incredible job at adopting THC beverages. So they have identified, you know, it's a little split, but you've got retailers like Specs in Texas, or Total Wine. And they are now clearing aisles to bring in - Oh, wow. - THC beverages. - Total Wine started last year, I think, with maybe an eight-foot line of THC, it's now like at 40 feet. - Wow. - Yeah. - Yeah. - So it's crazy. - And so a lot of people, I think, get a little down on the alcohol industry, but the alcohol industry has really been a leader in looking at the consumer trends, and George Clooney just launched a non-alcoholic beer. So non-alcoholic beers massively on the rise, high-nic and massively on the rise with NA. NA cocktails coming through. I think where THC has a slight edge is, if you have a non-alcoholic cocktail, you're kind of swapping a drink, where you're going to get some effects. - You're going to get your first sugar-free drink. - Yeah, it's like a consolation prize, right? - I agree. With the mocktail stuff, it's just like I'm drinking juice, and I'm not getting anything, but like at least with this one, but you're getting a little something and if you want a little more you can have a little more so I think that the industries have kind of come together the the old couple basically the cannabis industry in the alcohol industry have kind of come together around this category and that has really helped it to explode yeah I feel like the modern luxury now is just feeling functional the next year when you wake up totally but do you are you targeting the younger audience or are you targeting people who are maybe more like middle aged so yeah we're in over 21 for that so I would say it's so interesting you've got people in different life stages so you've got young people who are like maybe going to yoga class whereas I was probably falling out of the taxi having that yeah I'm like a huge scorer my shoulder from getting too drunk like in tipping up but you know like waking up with a gash like couldn't be me but they are you know going to their finishing work they are going to an excise class then maybe having a drink like something like this then you've got that kind of older say man who just cannot be hung over you know she's got just wake up at 6am and she's like I really want to have a rosé on a Friday but I just also don't want to wake up on a Sunday evening so I think people are adding into their routine and using it to drink less and the older generation as well as taking it and then you get old and you get manopause not sleeping and that's a whole other oh yeah that's so true who I just say we can't drink anymore and I can't sleep and you're going to sleep brilliantly and you say all the time what you know Jay's hard his own relationship with alcohol which is which 100% and that has been I love it I mean I don't get me wrong I came for that generation yeah no I love it too yeah it's so fun to get drunk but it is hard after it is as you get older it just gets worse I mean I'm feeling it buddy yeah but you were like I have to I have to make a change I have to make some changes in my life otherwise I'm just gonna be yeah you know no drunk hello it's Elizabeth Day from How to Fail here my next guest is the pioneering British fashion designer renowned for his signature classic with a twist aesthetic so Paul Smith they say oh Paul's job yes head of happiness that's my job what a great job I do close as well yeah listen to How to Fail whatever you get your podcasts hello I'm Simon Mayo and I'm Mark Kermod what a great episode we have for you lined up Mark what are you doing on the latest take it's a pack show we have reviews of Heart of the Beast Brad Pitt and a dog her private hell the new film from Nick Winding Reffen a Bournemon in the Devil a documentary about the worst film ever made and sense and sensibility with our super special guest gorgeous George Mackay don't miss a single second of the latest take so this is the second time that you guys have started a business so what were the absolute like first steps that you sort of took when you decided to build oh oh like how do you approach that initial phase then this is for anyone listening who wants to start a business because this is now your second endeavor sure so I think you know we are not everyone's the same right but we're very kitchen table right so we are like second hand furniture boots strap own money own capital perfect concepts and get it get get it that far you know one one plus one hundred percent growth in sales you know like we stood in fields and farmers markets with the product like eight in the morning you know and you know that's one route and then the other route is you go out new ways gobs of capital at evaluation and maybe you have something that works and maybe you can't like always remember someone telling me there's a great story where they were like this company's amazing it's doing you know two million in revenue and I was like how interesting how much capital have they raised and he was like 20 million and I'm like that's not a business if I raise 20 I should be doing a hundred you know so I think I think not getting bent out of shape on your equity not getting bent out of shape on your capital being really efficient and not being frightened to go slower you'll make mistakes undoubtedly yeah and and you don't have to you know people want to tell you how much money they're making and how much product they put out that but actually did you come back and buy it again oh that's it that's what we are looking for I feel like you know in this Asia marketing you obviously have marketing backgrounds how do you decide what's really worth the investment like there's this you know age of influence or gifting and outspan and what have you really seen actually move the needle for a luxury beverage brand or is it like you should just do as much as you can we're quite restricted to what we can do oh interesting because of cannabis okay so Nick is more than the marketing group but that has been a big barrier so there's a lot of things we simply can't do we've been obviously been on meta Instagram Facebook yeah that's a very expensive game it's that's how do you know there used to be a lot cheaper yeah yeah and now it's that's not where to go yeah like how lose you know 10 million but 100% yeah I would say one of the best things we've done not intentionally is you have this opportunity to take over an old firehouse in beverage village which is obviously your home yeah and we tied it into a cafe you know for the brand and it's open from eight in the morning till eight at night so you come in you buy a coffee you buy some product to you know and next we have other brands and products that are adjacent to our products and you can talk to your customer yeah that's huge so you just mentioned the restrictions of running economists based business in terms of marketing what are other like frustrating regulatory or like financial headaches of running a cannabis business that no one really knows about or talks about having to work with a band there's very few banks a little work with you oh interesting so hard to get loans and almost impossible wow you pay more for everything so your insurance is a premium your trucking is a premium your car car they really come for you yeah we're going to legalize it but we're going to take so much of it where is the actual cannabis like where like how do you produce it so we do have everything from hemp oh okay so we're in we're in the hemp derived THC so hemp and marijuana are basically the cannabis genus basically the same plant what's separates them as the amount of THC so you just need more hemp to get the THC from marijuana is not federally legal although president Trump is trying to push through a de-escalation and we share joll and that is great because that will open banking and 280 attacks and that will help but hemp is federally legal they are trying to shut it down so we're fighting so you know yeah oh Jay is a new challenge wow and then the other thing that I was thinking about besides the regulatory thing is like you're obviously in business with your spouse so how do you sort of prevent business stress from bleeding into your relationship like how do you keep things separate how do you keep your romance alive like and keep the sparks strong I think it's very lucky we love working we know what we're doing in the business and inevitably always comes home right but that doesn't necessarily it's a negative thing of course because it's also like when you run a business if you don't leave that at home yeah it's such a big part of your life and your identity is like having that business building that so you're bringing it home always yeah and the kids live it you know yeah we never on time yeah both of them want to want to be you know entrepreneurs for some reason I don't know why yeah everything is a compromise nothing is perfect you know I love that it's the usual but yeah didn't that we would change it but um well as just as we're unemployable so I love that like that's going to be the title of episode um how did you are like personal approach to your finances and like wealth management shift or evolve once your entire household income came mixed up with this company because it's like you still you have kids you want to plan for college you want to like send them to do you know you still have expenses and you want to live a certain quality of life but you're also so in this business and we hope that it goes to the moon but with any startup there's a risk so how do you plan for that I think um you know you read about it all the time about people going right to the wire you know to they're not really being able to get 20 bucks out of the cash point and then it kind of turning around um I think you have to sort of have a little bit of that in you if you are going to set being a startup because you've turned around and we like the company needs X and and it's going to come from you so we we managed it as best we can but nothing is perfect you know and you've got to also believe that's the one thing that's the one thing if you're going to start up a business you've got to believe it's going to succeed but in terms of like the actual numbers like how are you protecting yourselves So I think being able to pay yourself a modest salary, the sooner you can, the better. - Yeah. - So that's really important. And then keeping aside, keeping a little bit back, protecting your assets, and knowing when you need to raise money, and knowing when you've got to draw that line on getting deeper in yourself, knowing where your limits are and where your comfort level is. - Nikola, during your appearance on lipstick on the rim, you spoke really beautifully about sort of major health event. So I just wanted to ask you a little bit about how, you know, getting diagnosed with cancer changed not only your personal outlook, but sort of the entire trajectory of your life and like the purpose behind Oro 'cause that's such a big moment. And I, so powerful to hear you speak about it. It was a really just so unlucky situation. We had just met in the States. We'd been here about six months. We had set up, we'd expanded our New York office. We had an amazing team here. And the business was just exploding. And then I got a mouth ulcer. And I had a, you know, two by four centimeter tumor in my tongue. - Wow. - So I was treated at Memorial Sloan here in New York. Doctor Richard Wong saved my life, no doubt. And it was a real watershed moment. I think for us as a family, as a couple, I think you look at everything differently. And I'm not saying money becomes any less important to you, but I think what fulfills you, doing what makes you feel good, learning what you say no to. I think those all become much more heightened. Yeah, because you say yes to everything. Like yes, I can be here and I can be there. And actually. - No, it's a complete sentence. - So just give you a lot of perspective. - Yeah. And then when Jay really wanted to start Oro and he asked me if I would help him and he had helped me so much in my work life, it was really just a joy to be able to jump in and help out. So that's beautiful. Thank you for sharing. - So how much money have you raised for your company? Because you said that you first got it to a place where it was making money. - Yeah. - And then how did you. - Making revenue, not making it. It wasn't profitable. - Yeah, but it was we were selling. - It was really. - It wasn't. - Yeah. - Yeah. - Important, but also. - Sales are rolling. We did a. Adventure at VC. So we started with a VC, which we kind of loved. Recommend because VC's expect to lose their money. (laughs) - So why don't you VC? - Then we did a small funds round and then we did a convertible round. So all in, we've probably raised only about six million. We're rolling around. - We're going with lending as well, I think. - And a bit of debt. And then we're rolling 15 million. So that's where we are today. - Wow, that's amazing. - So super efficient on the capital fund, which you can do it. I think we've pushed it a bit hard. And we're raising around for energy, which is our new. - Oh yeah, I'm really excited to try that. And then we've been very lucky we've had. You know, there are a lot of options open to you like you can factor your invoices and you get charged for that, but you can basically use that. We have a partner that helps us with big purchase or the financing. So if we need to order like 20 million cans, we can do that and buy time on that. So I think it's about looking at all the things you can leverage whilst not having your own thing, whilst not diluting yourself to the point where you're going to put all your blood, so that you can taste into it and get to the end and be like, I don't own it anymore. - Yeah, so how much you owe now of the business? - Probably about 35%. - Oh, that's great, yeah. And you're doing another round. So will you have to give up more equity? - So that'll be in a subcode. And then we'll. Yeah, a small round, so. - Trying carve out some non-dialogue. - Yeah, yeah, yeah, keep it. But as much as you care. - Yeah. - And we have options. You get options as well, obviously. So you can. - Love an option, so good. How much revenue do you think you need to get to before you are a company that people want to buy? And who do you think would want to buy you? Like what's like your dream exit here? Like walk us through like. If everything goes right. - She's trying to get through today. - Okay, I don't know if we have like a vision board. - So you actually ask a great question, which I think is the financial world to try to come to grips with. So you're seeing like liquid dust just go public. - Oh, okay, so there's even. - No, one can buy Oli Pop because the money's too big, right? Like they're making over a billion dollars. You know, we have two quite separate businesses, you know, THC is in a more regulated framework and then energy is like, we can sell like, do I know that? - That's not, yeah. - So, you know, it'll be really interesting to see is it, you know, diagio. Do diagio move into the THC space and acquire the most in course? Take a position? Is it more. - I can't believe you. - Coca-Cola, who knows? - Yeah. - But you're saying you're at 15 now, like, where do you think that you would have to go to get the deal that you want? And like, how much are you growing year over year? - So we grew 105% year over year last year. - Okay, killing it. - So that's very exciting. - Yeah, that is so. - Shout out to the OHO team 'cause they all contributed heavily to that. - Big time. - So, I think that, like, if you want anything started, like a fire, like, you know, anything, we're really good at that. - We're really good at that. - We're really good at grinding it out, starting it with nothing, getting it going. But you get to 50 million, 100 million, your expertise that you need in. - No, it's very different to run that company. - Yeah. - Once it's all like a startup anymore. - Right, and it's a real business. - So I think for us, it'll be recognizing at what point we need to have people that can really help us scale to that level. And we'll go as far as we can. But I think 50 to 100 million will be a really good. - That'll be a point, that'll be a moment. - I like really believe in you guys. Like, I'm like, okay, like, this is really gonna happen. Like, I love the product, and I just feel like you're. You can tell everything about a company's success through the founders. And I have to just tell everyone I finished mine, and I feel awesome. - I love it. - We love it. - I love it. - But I don't feel like, oh my god, I have to call my doctor. - Yeah. - I just feel the chill. - Yeah. - Like, relaxed. - And over the space of an evening, you can maybe have two or three, there's a. - Oh, I might have two or three. I have a meeting after this. Like, I could have another. Like, but I'm not like slurring my word. Like, it is sort of the same as a cocktail where it's like, you could have multiple over the night. Well, this was so fun. I love talking to you guys. And more than that, I love the product. And I'm really going to be depressed if you're relying about sending it to me because this is gonna be the summer of Oho for me as a can drink connoisseur. But thank you for coming in the financial tee and stay rich. - Thank you for having us. - Thank you so much. (upbeat music)