California Cannabis Businesses Fear State's Legal Industry Could Collapse

Cannabis companies across California say they are struggling to survive due to high taxes and illegal competition. NBC News’ Gadi Schwartz explains what’s killing their buzz.» Subscribe to NBC News: http://nbcnews.to/SubscribeToNBC
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#California #Weed #Business

California Cannabis Businesses Fear State’s Legal Industry Could Collapse

50 Comments

  1. Marty VLRJR23 on March 14, 2022 at 5:27 pm

    I still buy off the street
    Mama ain’t raise no fool



  2. Steyer-CRMG on March 14, 2022 at 5:29 pm

    11.4 million in sales, 50% is tax, so 5.7 million, but you only made $136000. What happened to the other $434000 ?



  3. Scott Heuser on March 14, 2022 at 5:32 pm

    I love watching people from Cali cry about ridiculous taxes. … kind of ironic.



  4. Terminal Lumbago on March 14, 2022 at 5:32 pm

    I wonder how much the cartels are paying California to keep legal pot down.



  5. OneGun Salute on March 14, 2022 at 5:33 pm

    They made their own bed/dug their own grave, they let their own greed bite them in the butt. That’s how blinded by money they where when they failed to put any underwriting details into the bill, they banked on the fact mom and pop growers "The 99%" would be shook from legal operation with high entry costs. And now it’s shaking them too.



  6. Thomas X on March 14, 2022 at 5:35 pm

    “The cartels are back” , who is this clown? Lmao , most illegal growers are retired old white men who do it as a hobby 😂



  7. Jedi3 on March 14, 2022 at 5:35 pm

    Grow your own why should the thieving government get anything



  8. Sarge S on March 14, 2022 at 5:37 pm

    glad I’m not in Cali. See people mentioning a 45% tax. If true that’s way out of bounds and needs to be changed immediately. Regardless of the item in question you CAN NOT charge that high a tax…

    I’m not sure how businesses in MI are doing but here it’s [I believe]10% and that comes post sale alongside sales tax. Pricing, at least on edibles is pretty reasonable at $12-22 a bag depending on manufacturer. Even some edibles that were $22-24 just 1-2 years ago are down to $14 which leads me to believe both stores and the big brands are doing just fine here. Anyway throw in a 15% discount on Sundays for edibles w/ deals on every other product different days of the week….



  9. Comment on March 14, 2022 at 5:38 pm

    Crimea River.



  10. Casey smith on March 14, 2022 at 5:38 pm

    This is why if a state were to, legalize weed they have to go by Colorado and Oregon rules, otherwise it is going fail hard.



  11. _streetfamelife_ on March 14, 2022 at 5:38 pm

    Over taxed and over regulated. What else is new in that state?



  12. Rob Solo on March 14, 2022 at 5:40 pm

    Same thing here in michigan. Taxes drive the prices sky high and people choose to get it off of a grower instead.



  13. Casey smith on March 14, 2022 at 5:40 pm

    This is why Colorado or Oregon are doing well with the weed, they have had a much lower tax from day one.



  14. RIP LA 504 Nola on March 14, 2022 at 5:41 pm

    The only good thing about Cali and now look smh



  15. steveloweese on March 14, 2022 at 5:42 pm

    Business owners are so greedy…. Just pivot your business plan and stop complaining….



  16. Montgomery Hill on March 14, 2022 at 5:42 pm

    Too much competition.



  17. c turner on March 14, 2022 at 5:43 pm

    Its California… grew over a pound in my backyard last summer and just planted my seeds for this year. No taxes, no cartels, just those pesky white flies and some caterpillars



  18. Lovell A on March 14, 2022 at 5:45 pm

    I feel like California is the poster child for what not to do for a lot of things. Such a beautiful yet dumb state.



  19. GTFOH on March 14, 2022 at 5:45 pm

    I feel no sympathy for wht men failing in the cannabis industry. Fk them



  20. wthomas on March 14, 2022 at 5:46 pm

    Who cares?



  21. Detroit Mi Dunkin on March 14, 2022 at 5:47 pm

    This is great news. Plus everybody knows the best weed comes from Colorado and Michigan anyway.



  22. Snoglydox on March 14, 2022 at 5:47 pm

    *…was in cannabis industry for 16 years…legal since 2016…*

    *Something doesn’t seem right here.*



  23. Amanda Caroll on March 14, 2022 at 5:49 pm

    Government at it’s best! The Federal government shouldn’t get it’s cut as long as they keep it a schedule 1…



  24. KittensAttackAll NelsonHall on March 14, 2022 at 5:49 pm

    Lol have the fbi send me the rest of the money. Im missing around 3+ billion guys!



  25. JohnnyP710 on March 14, 2022 at 5:50 pm

    Prices drove me to stop buying and start growing.



  26. Frank Fleischhacker on March 14, 2022 at 5:52 pm

    I don’t know who to blame more the taxes are just California in general they seem to ruin everything



  27. Dragon1 Indo1 on March 14, 2022 at 5:55 pm

    Oh No Do Not Cry now.. Every one of you who voted for legal cannabis HAS NO BUSINESS BEING ANYWHERE AROUND CANNABIS. PERIOD. You Idiots messed it up for everyone. People like me have been growing since the 80s . Black Market ONLY. I Hope All You Legal Cannabis Farms Crash. None of you can Actually grow good Cannabis anyways. Bunch of Garbage Weed.



  28. Bill Marshall on March 14, 2022 at 5:55 pm

    Washington state seems to do just fine.



  29. Steven King on March 14, 2022 at 5:58 pm

    You guys need to do a full audit on Californian government finances because they are getting a butt ton of money from everywhere and the state is a toilet. I bet a lot of it disappears through corruption because it should be a way nicer state with it getting hundreds of billions in taxes, it’s going somewhere it can’t just disappear.



  30. HAPTICremix on March 14, 2022 at 5:58 pm

    this is happening to every business not just the weed industry due to corruption and inflation



  31. Addison Crowe on March 14, 2022 at 5:58 pm

    It seems like taxes always get over used for the government to make money



  32. Snoglydox on March 14, 2022 at 6:00 pm

    *I’m here from "Kansas and California Cops Used Civil Forfeiture to Stage Armored Car Heists, Stealing Money Earned by Licensed Marijuana Businesses."*



  33. Jeffrey-Paul Horn on March 14, 2022 at 6:00 pm

    Should have left it to the streets



  34. Leopapio on March 14, 2022 at 6:01 pm

    Wait California has "high" taxes noooooo say it ain’t sooooo



  35. William Nytes on March 14, 2022 at 6:03 pm

    Cali spearheaded Lego cannabis and pulled in millions in taxes. They really needed it at the time. Now they are reliant on that tax $. It’s the states problem now.



  36. George B on March 14, 2022 at 6:05 pm

    The joys of doing business in CA!



  37. Steven Castillo on March 14, 2022 at 6:05 pm

    get a new accountant…….. utilize write offs



  38. M H.G. on March 14, 2022 at 6:09 pm

    This is all the economically iliterate people saying "wE cOuLd TAx iT!!! LegAlIze!" Why did you eve acquiesce to a tax for a mild, recreational drug?



  39. Daitenku Taro Jurai on March 14, 2022 at 6:11 pm

    Potheads smoking illegal marijuana? I swear I’ve heard this before.



  40. Casa Blanca on March 14, 2022 at 6:11 pm

    Taxes are theft!!! #NOTAXES



  41. Patrick Wentz on March 14, 2022 at 6:13 pm

    Such a California problem. Lets SELL WEED! Lets TAX IT to DEATH! I will stick with Pennsylvania Rye Whiskey thank you very much.



  42. xerothedarkstar on March 14, 2022 at 6:14 pm

    Not to mention the cops are literally stealing their legal profits.



  43. Benjamin Stevens on March 14, 2022 at 6:15 pm

    I’m about to start buying illegally again, the shop prices are debilitating.



  44. Ben Abela on March 14, 2022 at 6:15 pm

    Indoor broers have tricked an entire generation with misinformation and marketing. They think that only indoor can be top shelf. Indoor is prohibitively expensive to produce. In areas where is can be grown outside and isn’t is huge waste.



  45. WhiteBoiGotti on March 14, 2022 at 6:15 pm

    Everything the government puts their hands on fails..



  46. David Case on March 14, 2022 at 6:16 pm

    As usual, California is giving us lessons in what not to do.



  47. L. Thomas on March 14, 2022 at 6:16 pm

    I don’t feel bad at all. It’s not like they let any black people get dispensaries.



  48. James Hill on March 14, 2022 at 6:19 pm

    🤣🤣🤣…. California is and always WILL BE the example for …. what NOT to do



  49. Jr Hayes on March 14, 2022 at 6:20 pm

    That dude styles his hair with man chowder….



  50. Johann Albrecht on March 14, 2022 at 6:22 pm

    Guy needs to be locked up for that haircut alone