There are advantages to not going first
Save time by listening to our audio articles as you multitaskOn November 21st Mr Chen was one of 28 entrepreneurs to be granted New York’s first retail licences for cannabis. Like the others, Mr Chen operates a small business and has a marijuana-related conviction or is closely related to someone who does.
There is ample room for improvement. Connecticut reserved half its retail licences for people with cannabis convictions, but is charging an out-of-reach $3m a pop. New Jersey let its existing medical-marijuana operators gobble up retail permits, squeezing out upstarts. Florida requires its dispensaries to be vertically integrated—from cultivation to transport—all but guaranteeing that only big firms can enter. Just 22 companies operate 475 dispensaries; one, Trulieve, runs a quarter of them.
Danmark Seneste Nyt, Danmark Overskrifter
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