Fresh off a $12 million raise, Headset CEO Cy Scott is trying to navigate the ever-changing cannabis industry.
Samantha Lee/Business Insider
"The whole industry is just moving at an insane clip," said Scott."We don't really know what the future holds. Anybody who tells you that they do with the cannabis industry is just trying to make it up."What Scott does know, however, is that cannabis companies, and traditional corporations trying to muscle into the cannabis world, are hungry for data and anything that can give them an edge in an increasingly competitive business.
"We started to reevaluate what we could do with more capital," said Scott."It's always a fine line, you know, raising too much capital. There's the analogy that it's like pouring water on a plant — just like dumping too much water won't make the plant grow any faster." As more big consumer-packaged goods companies evaluate how to get into the cannabis industry, Scott says Headset's data — and the platform that its partnerships provide — will be crucial.
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