Within the bubble of weed, our $12 Billion industry — more than two-thirds of which is not state sanctioned — the market's struggles inevitably feel like one of California’s major concerns. Sacramento, however, has a different perspective.
Gov. Gavin Newsom (D) (and the Assembly and the Senate) would generally love for the whole cannabis thing to work out. But if you think cultivating the cannabis industry matters more than, say, California’s Rainy Day Fund, you need to get out more.
Sacramento politicians may not give enough of a damn about this impressionable child of an industry to cut taxes and bring traditional-market operators into the legal market. But the broader world that’s set to go legal sure does.
And the world would like California to get its shit together.
MJ Biz Daily/CNN Business
- After last month’s California Department of Tax and Fee Administration announcement of a New Year’s tax increase, leaders of influential companies, many of whom are laying off staff, are asking for a summit with Newsom.
- Flow Kana CEO Michael Steinmetz said, “The hard truth is that until legislative changes are made, our industry will continue to wither away.”
- Flow Kana is only one of numerous California companies making cutbacks.
- In January, the Santa Rosa Planning Commission unanimously approved The Fox Den dispensary. Then Kiwi Preschool & Childcare, with whom the dispensary shares fencing, appealed the matter to the City Council. Here’s how the city came to approve Fox Den.
Santa Rosa Press Democrat
- In a brand turnaround that startles, West Hollywood’s Lowell Cafe would now like to be called Cannabis Cafe . CEO David said his company will be “expanding our innovative cafe concept” to Las Vegas. Which must have NuWu psyched.