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Emily Paxhia. She\\u2019s the founder of Poseidon Asset Management and she shifted her focus entirely to the cannabis industry, in 2013. Since that time, she\\u2019s taken her experience of researching markets, companies and strategic opportunities and turned them entirely to the world of cannabis. Her focus on understanding where the market is headed rather than where it has been, has been critical to developing a diverse portfolio of companies that span the sector. With over 15 years working with Fortune 500 companies\\u2014developing products, resolving strategic errors and addressing new target audiences\\u2014her work has been fundamental to stewarding her companies\\u2019 portfolios along the paths to success.

Famous Five:
Favorite Book? \\u2013 The Hard Thing About Hard Things
What CEO do you follow? \\u2013 Mark Zuckerberg
Favorite online tool? \\u2014 Asana
How many hours of sleep do you get?\\u2014 3-5
If you could let your 20-year old self, know one thing, what would it be? \\u2013 \\u201cI wished I had took it easier\\u201d

Time Stamped Show Notes:
01:04 \\u2013 Nathan introduces Emily to the show
01:53 \\u2013 Poseidon is a VC firm for cannabis
02:02 \\u2013 Emily was from an industry where companies were looking to expand their market share
02:09 \\u2013 Emily saw the cannabis industry as an opportunity\\u2014there was a demand for products
02:30 \\u2013 Emily\\u2019s parents passed away from cancer and she was told by some that cannabis could have helped her parents
02:43 \\u2013 A dying cancer patient is prescribed medication that has side effects, then is issued more meds to handle the side effects\\u2014which is a difficult cycle
02:58 \\u2013 Using cannabis appropriately could actually help with the side effects
03:05 \\u2013 More and more cancer patients are experiencing relief while using cannabis
03:38 \\u2013 Emily and her brother were 16 and 21 when their parents passed
04:07 \\u2013 Prior to Poseidon, Emily was with Miner % Co. Studio
04:44 \\u2013 As a financial professional, Emily had to assess her risk tolerances
05:04 \\u2013 It\\u2019s important to be mentally and financially invested
05:09 \\u2013 Emily also had great support to bring Poseidon to life
05:53 \\u2013 Current fund size is $20M going $25M
06:11 \\u2013 Emily\\u2019s brother is her business partner
06:36 \\u2013 Emily shares a story when her brother brought in a company that Emily disagreed with at first
06:38 \\u2013 In 2015, they\\u2019ve invested in a company called Surna
06:43 \\u2013 The company had gone public and was in a lot of trouble
07:00 \\u2013 Morgan had the idea to buy out the founders of Surna
07:15 \\u2013 Morgan joined the board and helped the company get on track again
07:40 \\u2013 Emily shares a time when the reverse happened; she brought in a company that Morgan was hesitant with at first
07:48 \\u2013 The company was Wurk
08:00 \\u2013 Emily was interested with Keegan\\u2019s presentation
08:35 \\u2013 Keegan was in Episode 735 of The Top
09:20 \\u2013 There is an assumption that Emily and Morgan are always high\\u2014this is NOT true
09:44 \\u2013 Emily takes cannabis for stomach pain, but it doesn\\u2019t get her high
10:26 \\u2013 Emily sees the cannabis industry as a wellness industry
10:50 \\u2013 Emily is interested with business technology solutions that help businesses run smoothly
11:00 \\u2013 She\\u2019s also interested in agricultural technology solutions as well
12:06 \\u2013 \\u201cHonestly, if I could, I would solve the banking issue in California\\u201d
12:21 \\u2013 Banks are still dropping businesses and credit cards
12:35 \\u2013 It gets challenging when someone loses their banking relationship
13:00 \\u2013 Emily is currently in San Francisco
13:23 \\u2013 Poseidon is modest in stating their expected returns
13:31 \\u2013 Emily wanted to capture the growth of industry
13:59 \\u2013 Poseidon has been running 40-44% IR
14:13 \\u2013 Poseidon has 3 phases of diligence:
14:20 \\u2013 They receive lots of emails and Emily tries to read and respond as much and as quickly as possible
14:56 \\u2013 Emily meets the founders and the team as part of their due diligence
15:06 \\u2013 The last phase is from getting into the details of actual financial projections to sourcing potential co-investments
15:25 \\u2013 Poseidon currently has 30 active companies in their portfolio
15:28 \\u2013 Over 40 in the lifetime of the portfolio
15:55 \\u2013 Typical deal size is $500K to a million dollars
17:02 \\u2013 Emily and her brother are talking about a company they want to launch
17:38 \\u2013 Emily\\u2019s three babies from their portfolio are:
17:42 \\u2013 Flow Kana: a processing center working with small farmers
18:17 \\u2013 Headset is a machine-data analytics company
18:37 \\u2013 Emily really likes Wurk
18:49 \\u2013 Baker is also exciting because it creates market opportunity
21:40 \\u2013 The Famous Five

3 Key Points:
To become successful, one must research the field in question.
There\\u2019s a great demand for new product and technology in the cannabis industry as the supply is low.
Carry your past experience and knowledge into your current and future endeavors\\u2014employ the skills that transfer across disciplines.

Resources Mentioned:
The Top Inbox \\u2013 The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
GetLatka - Database of all B2B SaaS companies who have been on my show including their revenue, CAC, churn, ARPU and more
Klipfolio \\u2013 Track your business performance across all departments for FREE
Hotjar \\u2013 Nathan uses Hotjar to track what you\\u2019re doing on this site. He gets a video of each user visit like where they clicked and scrolled to make the site a better experience
Acuity Scheduling \\u2013 Nathan uses Acuity to schedule his podcast interviews and appointments
Host Gator\\xa0\\u2013 The site Nathan uses to buy his domain names and hosting for the cheapest price possible
Audible\\xa0\\u2013 Nathan uses Audible when he\\u2019s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
Show Notes provided by Mallard Creatives