Cannabis capitalism: who is making money in the marijuana industry?
Marginalized groups that championed legalization struggle to compete with corporate refugees jumping on the bandwagon
Wednesday, October 3, 2018
The cannabis industry’s moral challenge is to ensure the groups who have suffered the most under the drug war can participate in the green rush and enjoy the spoils of legalization. Marijuana insiders often refer to the “cannabis space” – a term broad enough to include a social justice movement and unapologetic capitalism – and recognize no contradiction between them. For growers who operated in California’s gray and illegal markets and now want to transition into the legal market, the economics can be brutal. In the illegal market, an Emerald Triangle farmer might have sold a pound for $3,000 tax-free. Now the price is more like $600, before taxes and compliance related costs. (See also: High stakes: cannabis capitalists seek funds to drive drug trade)
