Steven Jung, a seasoned operations leader, has had an illustrious career spanning various industries, including the US Army, Silicon Valley startups, finance, and Twitter. He entered the cannabis industry in 2017 as the President and COO of Weedmaps and currently serves as the Chief Operating Officer at PAX. In an interview, Jung discusses the intersection of cannabis and technology, the key qualities needed for success in the cannabis industry, and the importance of policy reform.
- What experiences influence Steven Jung’s work at PAX?
Jung’s work as COO at PAX is influenced by his entrepreneurship, startup experience, adaptability, and lifelong commitment to service. He brings a sense of purpose to his role and approaches challenges from multiple perspectives.
- How is technology shaping the cannabis industry?
Technology plays a crucial role in the evolution of the cannabis industry. PAX leverages its intellectual property and engineering expertise to integrate technology seamlessly with their consumable products, enhancing the consumer experience. Technology also allows for scalability, efficiency, and personalized experiences in the industry.
- What is PAX’s focus on innovation?
PAX prioritizes innovation in both technology and other areas. They aim to create groundbreaking products that set new standards in the cannabis industry. PAX also focuses on social impact by supporting causes within the industry and advocating for safe access, equity, and the rectification of past injustices.
- How has PAX expanded into the edible market?
PAX recently launched Live Rosin gummies, their debut edible product. This expansion is a natural progression for PAX as they grow their cannabis lineup and prioritize quality and consistency. The gummies have been carefully developed and designed to deliver a premium experience with real fruit ingredients.
- What is the most important thing to consider in cannabis legalization?
PAX believes that policy reform is the top priority when discussing cannabis legalization. Reforming regulations, taxation, and compliance will allow the industry to grow and thrive, fostering a world-class consumer experience. Addressing the challenges faced by the industry is crucial for its overall growth.
- What are the social responsibilities of cannabis companies like PAX?
PAX acknowledges its responsibility to give back to the community and support the cannabis culture. They actively engage with nonprofit organizations and focus on social reform, safe access, and sustainability. Through their program, Peace By PAX, they aim to forge meaningful partnerships and work towards positive change.
- What qualities are essential for running a successful cannabis business?
According to Jung, resilience, curiosity, and focus are the three qualities needed for success in the cannabis industry. Resilience helps overcome challenges, curiosity keeps one updated and relevant, and focus ensures that priorities are managed amidst distractions.
- What advice does Steven Jung offer to those entering the cannabis industry?
Jung emphasizes the importance of preparation when entering the cannabis industry. Potential entrants must be ready to navigate the challenges posed by competitors, partners, policymakers, and the dynamic nature of the industry. Being well-prepared is key to success in this fast-paced environment.