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"If you cant beat them, invest in them" industry convergence The investment strategy of large beverage companies is often described as hybridization of the pleasure goods industry : Alcohol companies secure shares in cannabis firms Cannabis companies in turn partially buy alcohol brands (e.g., in the craft beer segment) Development of new products like cannabis-infused drinks or hemp-based beverages This creates a new mixed industry of alcohol, cannabis, and functional beverages

How It Works IQOS TEREA uses induction heating instead of burning tobacco

Ziedonis, D., Hitsman, B., Beckham, J.C

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