MJBizMag July 2020 - 57

BEER, WINE AND LIQUOR WHOLESALE SALES: 2006-2012
$30,000
25
Beer, Wine and Liquor Wholesale Sales: 2006-2012
Beer, Wine and Liquor Wholesale Sales: 2006-2012
$30,000
$25,000
$20,000
15
$15,000
$10,000
$5
Dec. 2007 - June 20..
Great Recession:
Dec. 2007 - June 2009
Great Recession:
$0
Source: U.S. Census Bureau
© 2020 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved.
4Q06 2Q07 4Q07 2Q08 4Q08 2Q09 4Q09 2Q10 4Q10 2Q11 4Q11 2Q12 4Q12
Source: U.S. Census Bureau
© 2020 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved.
$0
The coronavirus-fueled recession of 2020 is the first significant economic downturn experienced by the legal cannabis
industry, so it remains to be seen if the segment is " recession-proof " -a term often applied to the alcohol industry
because sales of beer, wine and liquor tend to remain relatively stable-even in tough economic times. For example,
during the Great Recession of 2007-2009, wholesale sales of alcohol generally stayed above the overall trend line for
such sales. - Jenel Stelton-Holtmeier
Source: U.S. Census Bureau
© 2020 Marijuana Business Daily, a division of Anne Holland Ventures Inc. All rights reserved.
PAM MARRONE
Founder and CEO, Marrone Bio Innovations, Davis, California
As head of Monsanto's Insect Biology
Group in the 1980s, Marrone pioneered
the field of biopesticides and leveraged
that experience to become a serial
entrepreneur. Lessons she's learned from
the past three recessions include:
* Raise more money than you need
during good times and don't worry
about dilution.
* Investors who have lived through
recessions will better understand
your challenges than those who
haven't.
* Executives and managers need to
take salary reductions.
* Balance cuts and growth
opportunities.
Marrone started her own biopesticide
company, Entotech, in early 1990 under
parent Novo-Nordisk. A few months
later, the nation fell into a recession, but
Entotech was unaffected because food
prices remained high and farmers kept
buying its products.
Averting disaster wasn't so easy in
2001, when Marrone was CEO of
AgraQuest, a biopesticide company
later acquired by Bayer for nearly
$500 million.
" A Silicon Valley investor in AgraQuest
said, 'Plan for disaster. You just don't
know what'll happen,' " Marrone
remembered. She was left to wondering,
" What's going to happen? "
July 2020 | mjbizdaily.com 55
4Q06 2Q07 4Q07 2Q08 4Q08 2Q09 4Q09 2Q10 4Q10 2Q11 4Q11 2Q12 4Q12
Dec. 2007 - June 20..
Great Recession:
$5,000
U.S. WhoUle.sale Salesa (lmillions)
S. Who
e Sales (millions)

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MJBizMag July 2020

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