Posted on 01/31/2023 5:34:04 AM PST by Sir_Humphrey
Even the brand donning the name and iconic visage of the Grateful Dead’s weed-loving Jerry Garcia can’t seem to survive California’s rocky legal pot market. Garcia Hand Picked has pulled out of the state, a company representative confirmed to SFGATE, as weed farms across the state struggle to survive amid taut regulations and high taxes. Industry experts predict a “mass extinction event,” .....
(Excerpt) Read more at thedailybeast.com ...
Guess they’re Dead to California.
Had an old girlfriend open a pot shop in Seattle a couple years ago. She shut it down within a year. Couldn’t compete with the street weed which was 1/2 to 1/3 her price because of fees and taxes.
You are absolutely correct. I live in one, I also considered investing in a cannabis enterprise until I looked at the P & L and I saw what the State was doing with the licensing scheme. No way.
It’s even worse today with the “social score” the State is starting to use when issuing licenses. The pot enterprise is racist, dontcha know, so the usual suspects need first crack(head) at all the licenses given out from this point forward.
I don’t know how growers make any returns on investment. Huge startup costs, continuously increasing energy expenses, artificially manipulated market and too many licensees.
I stopped reading after the words mass extinction event. I’ve been saying that for 5 years. Many, of the original licensees are gone, replaced by out-of-state investment groups flush with cash from investors thinking they’re getting in on the ground floor and they, as investors, will be poised to be Mr. Big Pot when their state opens Pandora’s Box. Nobody except the taxing/regulatory agency, the Washington State Liquor and Cannabis Control Board is making big bank.
They are just on a trip!
Funny how they all wanted to legalize it and tax the hell out of it. Careful what you wish for.
Well yes...what they’re not saying is that the cartels are moving into Cali and actually taking over the Maryjane farms. VDH mentioned the spike in mass killings in Cali is because of this...so the excuse that it’s “over-regulation” really doesn’t fly, because commies overregulate everything. They’re in denial that they’re getting kicked out of they’re own back yard.
What they don’t report on is big tobacco and cartels have taken over as they can absorb the costs or what we call money laundering. The simple California resident cannot get into this business and survive. When Jerry Brown got it legalized, he and his cohorts got kickbacks (campaign funds from lobbyists) to create the rules which edged out the small and middle guys.
Glorified re-seller.
I never considered that. Good to know.
Still, I think that no matter who runs things, if it’s significantly cheaper on the black market people will buy there. Now if the cartels are in bed with the regulators and paying them kickbacks to keep the legal stuff too expensive resulting in more business for the black market...well I wouldn’t be shocked
There is so much fraud in the financing of these weed companies that it is staggering. It’s like 19th Century railroad stock scams.
a long strange trip
I would not be surprised even a little bit
LOL. I guess the joke is true. You want to finally get rid of drugs in America? Legalize them, then tax and regulate them.
The Ingrate Dead.
Only a Blue State could screw this up
In NYC the Dinkins admin managed to turn OTB into a money loser. Only Democrats can lose money in a bookie operation.
What do 10,000 dead heads say when the acid wears off?
Hey man, this music sucks
Actually, that will only drive them to the black market. But it's funny that all the people who wanted to legalize pot (going back to the 70s) would always refrain: "Legalize it and tax it!" Well, they got their wish and look what happens. There is a lesson here which all of us here on the FR knows: Liberals do not know how economics works. (In other news, Budweiser makes beer)
Reminds me of the joke Milton Friedman made about a company in the Sahara running out of sand.
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