https://podcasts.apple.com/us/podcast/the-cannabis-investing-podcast/id1455998535?i=1000643835025

“The state of the California market is an unmitigated disaster and I think it’s important to call that out clearly before we unpack why. Because particularly some of the regulators in the state who are suggesting the environment is more rosy than it is and sometimes misrepresent data to come to that conclusion. Here are the facts. The California market has now experienced 12 quarters of decline in total sales. In the third quarter of 2023, the the California market generated 1.25 billion in sales, so about a 5 billion dollar run rate, and that is the lowest quarter since the 2nd quarter of 2020… If we compare California to say Illinois and Michigan, those are around 20 million people. About half of California. In December, those two markets together did 480 million in sales…California did around 450 million. And these are two states that legalized years after California…We have seen prominent California companies collapse…I often think about where the US cannabis industry would be if California was performing as it should…if California were performing like say Michigan, it would be more than a 40 billion dollar industry nationwide and we’d have more than 500,000 people working in this industry.” Hirsch Jain.