AACE INTERVIEW: Steven Jung of PAX
Steven Jung
“More importantly, as I started to peel back the layers, I also began to truly understand how many cracks there are in the system, and how many have been harmed by injustice and inequity. Once I had that shift in mindset, I really saw an opportunity to do some good through cannabis.” - Steven Jung
I met Steven for the first time at the PAX launch of their new Fresh Pressed Live Rosin cartridges, it was a beautiful spring evening in Santa Monica at Chris Saygeh’s Nostalgia Bar and Lounge. PAX is the preeminent vape hardware that connoisseurs of cannabis have rated the highest for quality and performance of the delivery of flower and concentrates. Normally at cannabis events, I look at the room to find a face that looks like mine, and when I do, I race across the room, and across the room stood this tall Asian gentleman that I was soon was introduced to, I looked up and thought “this guy is it”, “it” being the epitome of what I am seeing more of in the cannabis industry – diversity and a person with purpose, drive and with an altruistic heart.
Steven is an Army veteran, schooled at Westpoint and Columbia, was at Twitter and entered the industry as the president of Weedmaps, and is now the COO of PAX – Steven is leading the industry with his partnerships in social equity, veterans, and other groups that have been excluded from the surge of cannabis investments. It is an honor to have Steven on AACE. - Ophelia Chong
Cannabis has long-held benefits for PTSD. Socrates Rosenfeld of IHeartJane talked about how it has helped him on AACE in 2020. He said "For me, plant medicine has helped me undo the long-term effects of overriding natural human emotion. It creates the space to feel any fear or emotional pain that has been carried for too long. After your discharge as a Captain in the US Army, did you seek out cannabis as a health aid over pharmaceuticals?
When I left the Army, I didn't initially seek out cannabis. As a product of the DARE generation, I grew up with the stigma that cannabis was bad for you. It wasn’t until I began to learn more about the industry—and the positive effects cannabis can have on people—that I started to understand how misinformed I’d been. More importantly, as I started to peel back the layers, I also began to truly understand how many cracks there are in the system, and how many have been harmed by injustice and inequity. Once I had that shift in mindset, I really saw an opportunity to do some good through cannabis. I actually personally ventured into cannabis to help with sleep, which had always eluded me, and, almost immediately, I experienced the benefits and have been a consumer and advocate ever since.
With your leadership work at Twitter, in building public and private growth and investments, and your military career, how have you taken all of this to the cannabis industry? What was the greatest challenge you had combining tech, investments growth in the semi-legal cannabis industry?
My background was invaluable in entering the cannabis space, leveraging experience with innovation and adaptability, knowledge of how to navigate complex regulatory systems, building and scaling high performing teams and companies, and so much more. On the flip side, the greatest challenge was also taking that same experience and adapting it to cannabis. I had to really take a step back to understand and respect the movement of the industry and its community. At the time, much of the industry was very much in transition to a new legalization framework in the US and globally. Understanding the dynamics and how they were changing, and picking the right path for a company within that environment was a fun but challenging exercise.
PAX started as an ancillary hardware product, and with the trend of ancillary cannabis companies now “touching” the plant, how do you see PAX’s foray into your new Live Rosin product line?
Our shift into consumables kicked off a new chapter for us. We have spent over a decade innovating and perfecting our devices. But we have much more ambitious goals around the type of cannabis experiences we want to deliver to consumers. So it was the natural next step. It’s important to note that PAX is focused on bringing a unique point of view to every product we create — we’re not just interested in “touching the plant” for the sake of it; we’re doing so where we can bring innovative and unique products to market. And we’re just getting started. :)
By providing quality solventless Live Rosin in heritage strains, is PAX now bringing their clients into a new PAX universe of experiences? Will PAX broaden its product lines to flower for use with the PAX 3?
That’s the goal. This is a novel product and it really delivers a full flower experience unlike anything else on the market. The consumer response has been overwhelming so far. I can’t share too much about some of the innovations and products in development, but we do have some exciting stuff coming really geared toward solving consumer pain points and delivering exceptional experiences, all centered around our rigorous product principles. Stay tuned!
Your parents must have your photo hanging on every wall, your education and career is what most Asian parents strive for, and by putting themselves second over their children. How have your parents guided you in your life? And how did they react to your first foray into cannabis as the President and COO of Weedmaps?
My parents have had an incredible influence on my life. My mother is strong, passionate, and entrepreneurial; my father is steadfast, honorable, and always gets the job done right. Both believed in excellence and I learned so much from them. That said, I have a long and storied history of following my own path in my career decisions. By the time I got to cannabis, my mom’s advice was simple and wise: “Don’t go to jail.”
If you had one more degree or industry to hang on your wall, what would it be?
At this point in my career, I don’t value degrees as much as I do experience. I also believe in a lifetime of service, so that’s a key factor in any professional decision I make. And I'm extremely focused and motivated by the work we’re doing in cannabis to touch so many people's lives. So, I’m not sure what industry would interest me next, but it would need to allow me to create a positive social impact.
What is your favorite cannabis strain to relax with?
Recently, I’ve been loving our Blue Dream Live Rosin. It really helps me unwind at the end of a long day.
If you had a strain named after you, what would it be called? (I would name mine Short Yellow OC)
Mr. Nice Guy OG (We agree! - AACE)
What Asian flavor would you make into a gummy? (I would do wasabi, “So good it makes your eyes water.”- AACE)
That’s a tough question since there are so many Asian flavors I’d love to try in gummy form. But the first that came to mind was Yuzu Lemon Cake.
About Steven Jung and PAX:
Steven Jung, Chief Operating Officer of PAX
Steven Jung serves as the Chief Operating Officer of PAX, the leading cannabis brand both in the US and globally. He brings an extensive career in operations with experience at fast-growing Silicon Valley startups both pre- and post-IPO. Before joining PAX, Steven served as President and Chief Operating Officer of Weedmaps (NASDAQ: MAPS), the leading tech company serving the cannabis industry. Prior to Weedmaps, he was Head of Business Operations for LendUp, a leading Y Combinator and Google-backed financial technology company based in San Francisco. Previously, he worked at Twitter where he was a member of the leadership team responsible for scaling the company’s revenue operation. Prior to the tech industry, Steven worked in finance where he held senior positions responsible for strategic growth and investments in public and private companies. Jung began his career in operations leadership as a Captain in the United States Army where he held both strategic and tactical roles. Jung holds a BS in Economics from the United States Military Academy at West Point and an MBA from Columbia Business School.
PAX
PAX is a leading global cannabis brand on a mission to enhance people’s lives through exceptional cannabis experiences. For more than a decade, PAX has created award-winning devices that bring out the best in the flower. The word PAX means “peace,” and they take that to heart. They are committed to establishing cannabis as a force for good—advancing causes of social justice, access and equity.