New York Legalizes Recreational Marijuana

Where my 420 friends at? Cuomo stroked his pen and here we are:https://www.bloomberg.com/news/articles/2021-03-3…

What are the thoughts on how this will actually develop withinNYCandNYoverall? Clearly it is a budget move, but will it move the needle? Benefits are it will increase potential jobs and automatically expunges cannabis-related convictions in the past, but will the move truly help a struggling NY?

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Comments (10)

Mar 31, 2021 - 1:04pm

It was already decriminalized so it's about time they legalized and taxed it. Maybe now we'll be able to afford to clean the trash off the streets.

Mar 31, 2021 - 2:13pm

yeahhhh boiiiiiii

“如果你总是限制你所做的一切,physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee

Mar 31, 2021 - 5:52pm

A solid half decade after many other progressive states, and more than eight years after Colorado. Fantastic job,NY

It's worth pointing out that New York City is very progressive, while the rest of the state is actually quite conservative. Republicans actually held an effective majority in the State Senate until a couple election cycles ago.

Apr 1, 2021 - 3:36pm

Yup - Duchess county and north is basically the same as rural Pennsylvania (Pennsyltucky). You'll see confederate flags flying next to American flags.

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  • Associate 1inIB-M&A
Apr 1, 2021 - 3:47pm

Disclaimer: I'm a fairly liberal Democrat.

They are going to fuck it up. What they should do is tax the shit out of it but let every small bodega that's been gutted by the pandemic sell it. Instead they're gonna make it so only scaled players will be able to afford the crazy regulation and approval process. What's more, I bet, like in MA, they are gonna let the NIMBYs control it.

I'm originally from a suburb in MA (Cohasset, Duxbury, Hingham) and what those towns did is ban dispensaries in their city limits - which is total bullshit because they ABSOLUTELY benefit from the additional taxes on marijuana. My personal view is that any municipality who does that should have their state-funded budget cut to account for this.

  • Analyst 1inS&T - Equities
Apr 1, 2021 - 3:52pm

Oh they're going to torpedo any ounce of value they could have from this endeavor. My guess is the amount of red tape involved will make it untenable for most participants and in any caseNYwill piss away the tax revenue this should provide.

  • Analyst 1inS&T - Equities
Apr 1, 2021 - 3:50pm

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