https://www.cannabisbusinesstimes.com/news/us-cannabis-companies-profitable-small-minority-owned-businesses-whitney-economcis-report/

This speaks to the current state of this industry. Usually startups can project a few years of not being profitable in pursuit of growth, but in cannabis it is an indeterminant amount of time given the lack of clarity on federal policy. Without that light at the end of the tunnel it continues to be a money pit for compliant operators and an opportunity for the ones that are willing to work non-compliantly. Hence the interstate black market, the pesticide crisis, etc…