Yo, what’s good my peeps? It’s ya boy Dan, here to give you the lowdown on the cannabis industry in the US. Now, you may think that the US is killin’ it when it comes to legal weed, but if you dig a little deeper, you’ll see that success ain’t as common as you might think. Even though experts be sayin’ that the sales of both recreational and medical cannabis could reach a whopping $33.6 billion this year, many cannabis businesses out here are strugglin’ to make a profit. It’s like they’re playin’ a never-ending game of L’s.
I’ve been talkin’ to some cannabis business owners from all corners of the country, and let me tell you, they’re fed up with all these failures. They be blamin’ a bunch of factors for their struggles, like high-ass taxes, oversupply, the black market, and more.
Now, havin’ an oversupply might seem like a good thing for us consumers ’cause it means we can cop our green for cheaper prices. But let me tell you, it’s takin’ a toll on the producers. They’re gettin’ hit harder than ever, and since cannabis is still illegal on a federal level, they can’t even ship their excess supply outta state. This is hittin’ mature markets the hardest ’cause prices are droppin’ like crazy.
But check this out, fam. A new report by Whitney Economics just dropped, and it’s showin’ us that less than 25% of cannabis businesses in the US are makin’ any profits. That’s a big drop from last year when 42% of ’em were seein’ some green. These findings also point to some messed up business conditions and markets that ain’t keepin’ up with the times. The regulations out here ain’t doin’ these businesses any favors. They’re more focused on pocketin’ taxes than creatin’ an environment where these businesses can thrive.
The operators in the industry be complainin’ about a whole bunch of other stuff too. Costs be goin’ up, wholesale prices be droppin’, and there’s just way too many damn licenses bein’ given out. In fact, most of the operators in the survey said they want the number of licenses to be restricted. And let’s not even get started on them sky-high taxes that be crushin’ these businesses. This ain’t no new problem either, it’s been goin’ on for years in many states.
But hold up, fam. Is there somethin’ else goin’ on that’s contributin’ to the downfall of the cannabis industry? I’m here to tell you that there is. It’s called bro culture, and it’s runnin’ rampant in the weed game.
Now, don’t get me wrong, we all know there’s inequality all around, especially when it comes to gender. But in the cannabis industry, it’s like this problem is on steroids. According to a report by MJ BizDaily, only 23.1% of executive positions in the industry are held by women. Meanwhile, in mainstream companies, 29.1% have female chief executives. That’s messed up, my friends.
I mean, just take a look at all them stoner bro movies out there. Pineapple Express, Clerks, Cheech and Chong – they’re all about dudes gettin’ high and causin’ mischief. The image of stoners in our society is a masculine one.
And guess what? Business Insider tells us that white men make up about 70% of executive positions in the big cannabis companies that are traded publicly. That ain’t cool, my friends.
So here’s the question: would things be different if women were callin’ the shots? Right now, women-owned cannabis businesses are already strugglin’ to get access to capital. But if we look at other industries, it seems like havin’ more women in leadership roles could be the key. Forbes even dropped some knowledge on us with their Biz2Credit Women-Owned Business Study, showin’ that female-owned businesses saw a 27% increase in earnings compared to male-owned businesses last year.
Look, I ain’t sayin’ the cannabis industry is sexist or nothin’, but we gotta address this bro culture that’s holdin’ it back. It’s a reflection of the larger problems we got in society. Everyone brings somethin’ important to the table, regardless of gender. But if we wanna solve the issues we’re facin’, we need a better balance of women in leadership positions in the cannabis industry.
Yo, we can’t let this systemic problem slide. We gotta address it head-on and make a change in all industries, includin’ cannabis.
So there you have it, my peeps. The cannabis industry is facin’ a whole bunch of challenges, from crazy taxes to oversupply to bro culture runnin’ rampant. But if we can tackle these issues and bring more women into leadership positions, maybe just maybe we can turn this ship around and sail towards success.
Stay woke, my friends. Peace out.
