The Come-Up and Come-Down of OG Weed Game – Peace Out Cali and CO Bud Biz

The Come-Up and Come-Down of OG Weed Game – Peace Out Cali and CO Bud Biz The Rise and Fall of Pioneer Pot Markets

Yo, my name be Dan, and I gots ta tell ya ’bout da wild ride dat da OG weed game been on in Cali an’ Colorado. When dem states blazed da trail wit’ legalizin’ recreational marijuana back in 2012, errybody was hyped up like crazy. Colorado, in particular, was rakin’ in mad cash wit’ sales skyrocketin’ to $2.2 billion by 2020. Dem tax dollars was flowin’ in like a river.

But fast forward to 2024, an’ it’s a whole different story. Colorado dispensaries dat used to be poppin’ off is now locked up tight. Sales done plummeted over 30% from they peak. It’s a rough time in da Mile High City.

Over in Cali, it ain’t much better. Even tho it’s da biggest legal weed market in da country, legit businesses is strugglin’. Da black market still strong ’cause of dem high taxes makin’ it hard for legal vendors to compete.

As more states look to legalize, dey lookin’ at Cali an’ Colorado as cautionary tales. In dis article, we gonna break down what went wrong in these pioneer pot markets an’ what other states can learn to avoid da same fate. Da game ain’t over yet, but it’s a bumpy ride.

Colorado’s cannabis industry done hit a rough patch. Sales done dropped from $2.2 billion in 2020 to just $1.5 billion in 2023. Dat’s a big ol’ decline of over 30% in just three years. It’s got errybody in da industry sweatin’.

One big reason for dis slump is competition from nearby states like New Mexico an’ Arizona dat done legalized too. It’s like Colorado done created too much success for itself, an’ now it’s payin’ da price.

Businesses is feelin’ da squeeze – some gotta cut back on perks, others gotta close up shop. Jobs is disappearin’ too, down 16% in just one year.

But dis contraction ain’t all bad – it’s just part of growin’ pains for a maturing industry. Prices gonna level out as more states legalize, so Colorado ain’t outta da game yet.

As for Cali, it’s got its own set of problems. Dem high taxes is keepin’ legal prices sky-high compared to da black market. Chinese crime syndicates is movin’ in on da action too, settin’ up illegal grow ops all over da place.

On top of dat, regulations is stiflin’ small operators an’ keepin’ legacy players outta da legal market. It’s a mess out there in da Golden State.

So what can other states learn from all dis drama? Well, first off, don’t get too greedy wit’ dem taxes. Keep ’em reasonable so legal businesses can compete.

Secondly, make sure regulations is fair an’ inclusive. Support small operators an’ prioritize equity so errybody can get a piece of da pie.

And finally, let the market do its thing. Allow for ups an’ downs as da industry matures so we can build a strong foundation for da future.

It’s been a wild ride for Cali an’ Colorado, but if we pay attention to dey mistakes, we can build a better future for legal weed nationwide. Da race ain’t over yet – stay tuned for more twists an’ turns in da OG weed game.