E245: From $0 to Billions in a Regulated Market

Nov 18, 2025

In this conversation, Pete Kadens, a serial entrepreneur and philanthropist behind Green Thumb Industries, spills the secrets of scaling a multibillion-dollar cannabis company. He reveals the power of targeting overlooked markets, particularly emphasizing female consumers aged 30-50. Kadens discusses the importance of operational discipline, financial transparency, and employee ownership for driving performance. Shifting from corporate success to philanthropy, he shares his journey of character transformation and parenting, blending purpose with presence.

Ask episode

AI Snips

Chapters

Books

Transcript

Episode notes

ANECDOTE

Built By Blocking And Tackling

Pete Kadens started Green Thumb by doing the unsexy operational work while others chased branding and hype.
He built a multibillion-dollar cannabis operator by picking overlooked locations and executing fundamentals relentlessly.

ADVICE

Pick Overlooked Markets For Local Moats

Go target overlooked MSAs to create local monopolies and drive outsized margins.
Choose regions where licensing maps and geography give you 50–100+ mile service advantages over competitors.

INSIGHT

Skate To Where The Puck Is Going

Early cannabis consumers skewed male, but the next big wave was 30–50-year-old women who influence household purchasing.
Designing products and branding for that latent demographic unlocked massive growth.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

How do you build a multibillion-dollar company from scratch, walk away at the peak, and reinvent your life around purpose, generosity, and impact? In this episode, I talk with Pete Kadens, one of America’s most respected first-generation wealth creators and one of the leading philanthropists focused on closing education and opportunity gaps across the U.S. Today. Pete and I dive into how he built Green Thumb Industries (GTI) into a multibillion-dollar cannabis company, the unsexy strategies that made it work, and why choosing overlooked markets and consumers unlocked massive profit. We cover the power of ownership cultures, transparency, discipline frameworks, and why giving equity and education to employees creates extraordinary performance. We also explore the character transformation that led him to retire at 40.

Highlights:

The unsexy strategy behind scaling GTI into a multibillion-dollar operator
Why Pete targeted the 30–50-year-old female consumer long before the market noticed
How choosing Toledo instead of Chicago and Erie instead of Philadelphia created monopolistic advantages
The power of ownership cultures, ESOP-style alignment, and financial transparency
Why employees perform better when they are treated like owners
Pete’s shift from business success to a life of impact and philanthropy
The emotional toll, guilt, and clarity that led him to retire at 40
How he rebuilt his parenting philosophy: presence, character, and modeling discipline
Why “how you do anything is how you do everything” became his family standard
The timeless rule he lives by: the gap between “I should” and “I did”

Guest Bio:

Pete Kadens is a serial entrepreneur and dedicated philanthropist who currently serves as Chairman of The Kadens Family Foundation, a national charitable organization focused on closing education and wealth gaps. He is also the Founder and Co-Chairman of Hope Chicago, which is educating tens of thousands of underserved Chicagoans, and a key supporter of Hope Toledo, now serving more than 300 families with tuition-free college and trade-school pathways.

Pete is the Founder & Chairman of Warmer, a new social platform designed to create kind, supportive, and non-toxic peer-to-peer interaction. He also serves as Chairman Emeritus of StreetWise, one of Chicago’s largest homeless assistance organizations, and sits on multiple nonprofit and for-profit boards dedicated to social impact.

Pete is a 2019 Henry Crown Fellow at the Aspen Institute, one of the most selective fellowship programs in the world, recognizing leaders who create ventures solving society’s most challenging problems.

Our Podcast now receives more than 300,000 downloads a month. Are you interested in sponsoring an episode? Please email David Weisburd at david@weisburdcapital.com.

#venturecapital #vc #startups #openlp #assetmanagement

Stay Connected:

X / Twitter: David Weisburd: @dweisburd

LinkedIn: David Weisburd: https://www.linkedin.com/in/dweisburd/ Pete Kadens: https://www.linkedin.com/in/petekadens/

Questions or topics you want us to discuss on How I Invest? Email us at david@weisburdcapital.com.

(0:00) Introduction (0:19) Founding Green Thumb Industries and seizing opportunities in the cannabis industry (2:08) Focusing on profit and choosing unsexy locations (4:05) Targeting non-obvious customer segments and building partnerships (7:44) Creating a disciplined framework for employee autonomy and engagement (13:06) The importance and advantages of an employee ownership culture (18:54) Transitioning from business to philanthropy (19:47) Exploring different forms of wealth and personal fulfillment (24:11) Balancing business success with personal life and trade-offs (30:30) Role modeling, parenting philosophies, and teaching kindness (37:40) Pursuing excellence, discipline, and lessons from Aspen Institute fellows (41:41) Importance of suspending assumptions and embracing rest (43:37) Valuing idiosyncratic excellence and embracing neurodivergence (46:28) Turning aspirations into achievements and celebrating progress (49:09) Concept of the minimum lovable product and reflecting on success (50:44) Closing thoughts, gratitude, and how to follow Pete Kadens (51:14) Closing remarks