CANNABIS CULTURE – Here we are a year after legalization and the bust predicted by many cannabis activists and others in the business has, to some degree turned out to be true; according to reporter David George-Cosh of BNN Bloomberg the top five cannabis companies on the market – Canopy, Aurora, Aphria Inc., Tilray Inc., and Cronos Group Inc. – saw a total of $5 billion in market capitalization disappear.
In the past few weeks we have seen raids on the two oldest and most respected Cannabis Dispensaries in British Columbia, Dana Larsen’s ‘The Dispensary’ on Thurlow St in Vancouver’s west end and the ‘Cannabis Buyers Club’ founded by Ted Smith in Victoria. These raids were conducted by the “Community Safety Unit” usually with a few city cops in tow to ‘observe’. (read intimidate)
Now licensed producers are once again calling on government to scapegoat the black market and step up enforcement to try to claw back some of the money they have lost and shutter illegal stores and websites, (read ‘the competition’ ) meanwhile the cannabis they are offering, if you can find it is old, stale and ‘mids’ at the very best at double the price of a better quality black market product.
No wonder illegal sales are thriving, cannabis users know what they want and what’s on the shelf at the legal stores is not it.
The difference that defines these times, unlike ever before in the history of cannabis prohibition is now we have investors, some of who have a lot of money in the game calling for a return on their capitol.
Money talks and when people are losing it things start to happen, evident by the recent enforcement action we are seeing, it appears to me that we are headed back to days