Odd Lots Pot Lots Part 2: The Business of Big Cannabis
Apr 20, 2023
The podcast explores the booming cannabis industry and its evolving perception in North America. It tackles the challenges of navigating a newly legalized market, particularly the competition with the illicit sector and issues of profitability. The conversation digs into the impact of federal regulations on operations and the complexities involved in scaling production amid a historical background of illegal practices. New York's market dynamics and efforts for social equity also take center stage, illustrating the hurdles on the path to a legitimate cannabis future.
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9/11 and Cannabis
- Todd Harrison's interest in cannabis stemmed from his experience working near Ground Zero on 9/11.
- He explored cannabis for PTSD and became fascinated by its potential.
Tax Hurdles
- Despite increasing legalization, the business of legal weed faces challenges, including tax burdens.
- Marijuana's Schedule I classification prevents deducting business expenses, effectively increasing taxes.
280E's Impact
- The 280E tax code, with a 70% effective tax rate, hinders smaller cannabis businesses.
- This disproportionately impacts social justice initiatives and may favor larger, established players.