Peter Barsoom, Co-Founder And CEO Of Luxe-Cannabis Brand 1906

Peter Barsoom, Co-Founder and CEO of 1906, believes that cannabis is a crucial part self-care, and that it has been kept from the mainstream public for far too long. He’s on a mission to create products that are approachable by everyone and has brought innovations like fast onset time and the inclusion of other plant medicines to deliver experiences that support self-care routines. From the story behind the brand to his quest to find an alternative to prescription drugs, I asked Peter five questions about the company and its newest line of products. 1906 has an ambitious expansion plan, with new states coming online this year. The company closed $18 million in a capital raise last year that will fund the expansion as well as continued innovation and R&D.

WB: Please tell me about you and your company? 

PB: 1906 gets its name from the last time cannabis was nationally accepted as a widely-used, beneficial medicine. I believe cannabis is the greatest medicine on earth and want to reestablish it as a trusted, normal part of daily wellness. Since it was illegal for more than 100 years, there has been little innovation in how it’s produced, consumed or marketed. Most Americans hold these really outdated preconceptions of who uses it (stoners), how they use it (bongs, joints, pot brownies) and what it is used for (to get high as a kite). 1906 is mounting a revolution to smash these old ideas and bring forward a product that the average adult can see themselves using, because we believe it can help millions of people feel better every day. That’s why I left finance and started the company five years ago.

WB: What was your path to the plant? 

PB: When I was 21, I was diagnosed with ADD and prescribed Ritalin and then Adderall to help quiet the chaos inside so I could concentrate and work. Having ADD often makes you feel unfocused, agitated and impulsive, which makes it difficult to accomplish tasks…which leads to more stress and anxiety. Prescription drugs helped to an extent but there were a lot of drawbacks and overall, I was really unsatisfied. This was part of my motivation to create a more balanced alternative, something directly derived from plants.

I was also at a point in my career where I wanted to do something that could create a positive impact for a lot of people. And I saw cannabis—specifically, a new kind of cannabis product—as a way to do that. You’ve got this plant that has incredible, versatile powers but it’s in desperate need of a makeover. I spent two decades in finance catalyzing change: developing new products and marketing them to different audiences and helping to rehab flawed credit markets after the 2008 financial collapse. I knew how to bring rigor and fresh thinking to another newly regulated industry.

So I dissected the issues that cause people to overlook or be wary of edibles and came up with five non-negotiables for our products: they have to be visually appealing and delight your senses; they must deliver distinct effects, not a general high; they need to kick in within 20 minutes, not two hours; they need to be low-dose THC so users feel in control; and they have to feel accessible to someone who’s previously been intimidated or turned off by cannabis. That’s what you’ll find in all our products, that’s the 1906 promise.

WB: Please tell me about what you’re working on right now. What are your near and long term goals?

PB: A recent Wall Street Journal story highlighted the uptick in doctors prescribing pharmaceuticals for anxiety and insomnia due to COVID-19 and the growing concerns around long-term use. According to a survey from the American Psychological Association released late last month, 46 percent of parents with children under 18 rated their average stress level related to the pandemic as 8, 9 or 10 on a 10-point scale. People are more anxious than ever: they are not sleeping well and are worrying about major issues in our country, as well as personal health and finances. I mean, life is pretty overwhelming for a lot of people right now.

We created 1906 Drops—fast-acting pharma-grade pills combining cannabis and other medicinal plants—to help people treat their concerns and enhance their wellbeing. The predominant way that Americans take medicine is in pill form. It could be a pill for anxiety, a pill for sleep, or a pill for arousal. It was always odd to me that cannabis, which can effectively address all these things, wasn’t available in pills. So, after years of R&D, we launched Drops in six formulas (for sleep, sex, anxiety, energy, focus and bliss) and moved cannabis into the medicine cabinet. They kick in within 20 minutes—an absolutely crucial innovation for making cannabis accessible for daily use.

WB: What are your thoughts on stigmas? How do you anticipate removing them?

The stigma I’m most interested in combating is the notion that cannabis is a harmful, dangerous drug, and that growing, using or possessing it is criminal. As we are now seeing, the so-called war on drugs was always a racially-motivated war on people. The demonization and criminalization of cannabis has disproportionately affected communities of color, with devastating impacts ranging from ineradicable criminal records to severe prison terms to broken families. Though white and black people use cannabis at the same rate, blacks are four times more likely to be arrested for possession. This needs to end.

With 1906, we have an opportunity to directly address racial inequity through training and employment of those wrongfully harmed by discriminatory policing. And with cannabis as a whole, we can create a legal, regulated industry that creates meaningful opportunities and income for those who have been negatively impacted by the war on people. Legalizing adult-use cannabis nationwide would hugely reduce mass incarceration of black and brown people. It’s one of the most essential things we can do to change our criminal justice system.

WB: How do you tackle obstacles or come back from failures?

Our Genius formula is a good example of overcoming challenges and also of disproving assumptions about what cannabis can and can’t do. We developed Genius for people like me with ADD or ADHD and for anyone who needs a boost for sustained concentration. As with all our products, we went through an extensive development process with a lot of research and trial and error, experimenting with different plant medicines and dosages to deliver the desired effect. Genius took the longest—four years—to get to market with several hurdles along the way.

The formulation uses a special single-strain of cannabis sativa known to aid in mental sharpness, plus six additional plant medicines for cognitive focus, memory enhancement, and calm concentration. You’ve got Rhodiola to optimize brain function, the Ayurvedic herb Bacopa to help improve memory and reduce stress, Galangal for sustained alertness, and a finely calibrated combination of L-theanine, Theobromine, and caffeine for sustained energy and lucid thinking. Synthesizing these supplements and adaptogens results in attentional focus without jitters or a come-down crash, it’s really pretty amazing.

The problem was that once we got the balance right, it tasted awful in chocolate. We couldn’t mask the strong, bitter flavors of the medicinal plants no matter how hard we tried (and failed). We finally realized that we didn’t need to, we could use another form factor that didn’t sit in your mouth. Sometimes, the way forward is to look at the problem differently and innovate in a new direction. That realization led to the invention of the Drops line, which has become our biggest seller.