• Dankpup
    244
    what did trump relax? I know he has talked about legalization, but he’s said a lot of populist things for applause, closing tax loophole for Wall Street, draining the swamp, “repeal and replace” with “something that would cover everyone and for free”(Medicare for all) not holding my breath for that one.
  • EconMan
    4.5k
    what did trump relax?Dankpup

    Ban on flavored vapes. "Vape" to so many politicians, bankers, and often the press itself, is a very wide definition. Dropping the ban calmed the phobia down.
  • Dankpup
    244
    ok, he got “talked to” by lobbyist, and the ivapeivote movement and decided to reverse corse on his own idea/press conference lol.
  • EconMan
    4.5k


    LOL No doubt. :cool:
  • Dankpup
    244
    yes I remember his bold proclamation he was gonna shut down all trade with Mexico til someone explained the economic impact to him. There is one candidate running who walks the walk and has for decades . Plans to execute an executive order in the first 100 days along with some other key points.
  • EconMan
    4.5k


    Not Biden. To him it's a gateway drug :rofl:
  • Dankpup
    244
    def not Biden, it’s Bernard.0fsd4aonq2jv04po.png
  • Baron23
    11.1k
    Please be careful, gentlemen, about politics.

    All polite now, but wow I have seen these things blow up in a hurry.

    Carry on! haha
  • Pud
    733
    Thank you!!!
  • EconMan
    4.5k
    Interesting

  • EconMan
    4.5k
    Sort of related to weed and its commerce since both porn and cannabis are under financial attack.

    The free market does provide solutions to the extent they don't piss Leviathan off too much. :nerd:

    https://www.aier.org/article/paypal-pornhub-and-financial-inclusion/
  • Dankpup
    244
    I’m not saying he’s wrong on pot stocks, but wasn’t jim crammer famously wrong on the subprime mortgage swindle/economic collapse? In my state vape shops have popped up everywhere, and last week end I went to my dispensary and it was a madhouse.But you have to wonder....whats wrong with your industry if Jeff Bezos isn’t trying to dominate it, lol.
  • EconMan
    4.5k
    but wasn’t jim crammer famously wrongDankpup

    Jim Cramer is just often "famously wrong" but he is colorful and his exasperation echos many of the sentiments folks like me feel around making money in weed. :nerd:
  • EconMan
    4.5k
    Apparently, this one has the banks rattled.

    Vape merchants will find it harder and harder and more and more expensive expensive to accept credit cards.

    https://www.fox5ny.com/news/doctors-believe-vaping-is-the-cause-of-death-for-a-28-year-old-orlando-man-family-says
  • Dankpup
    244
    One thing ive noticed is younger people that tobacco vape “smoke like chimneys”, I know it’s an old term but I mean it more literally. Theres a younger dude that works in my shopping center that Vapes out back and he just billows and billows huge clouds, like no regular smoker would. Doesn’t even seem enjoyable honestly it appears more as if it’s a race to filter as much thru his lungs as he can, so I could see pneumonia coming on at a young age.
  • EconMan
    4.5k


    Interesting. Was unaware of that here at least.

    I lived in Indonesia (4th largest country) for some time (did my development PH.D. field work there for six months, then lived there for a year collecting data. They have the youngest population of any large population country.

    Anyway, everyone smokes. If you offered someone free sex, weed, or Marboroughs 90% would choose the latter. If you look at all American'ish the first thing out of their mouth is "Marlborough? It is a smokers delight -- fire up an near any restaurant or nearly anywhere. However, *if* they get mad at you and *if* they find weed, your ass is in some serious trouble. It can and has been given the death penalty.

    The smoke everywhere. And the prefered local brand are these hideous "clove" tobacco that must just waste lungs? I'm not into combusting cloves.
  • BobCat
    2.6k

    Yes! In Michigan only 3 dispensaries are currently able to sell rec weed- all located in Ann Arbor. Did your work after take you to UofM and AA? Strange place. The state is taking care of the medical patients first which is good. The first real crop the rec weed market is waiting on will be early Spring I believe. Very cool though!

    Go Illinois! Rec weed and Chicago pizza seem to go together.
  • EconMan
    4.5k
    More on the battle between Chicago and Illinois

    "After some confusion, Chicago officials said residents who smoke marijuana in their backyard or on their balcony will not be arrested or ticketed."

    https://www.propublica.org/article/recreational-marijuana-legal-illinois-january-1
  • EconMan
    4.5k
    One more.
    Even the CDC is confused.
    https://www.cnbc.com/2019/12/06/vaping-lung-disease-outbreak-likely-caused-by-multiple-brands-cdc-says.html

    Dank is not a centralized brand. It is a printed box to put filled carts in.
    Take a peak on dhgate
    https://www.dhgate.com/product/0-8ml-1-0ml-dank-vapes-hologram-box-dank/476494165.html
  • EconMan
    4.5k
    This is worth watching
    The regulatory climate is about to get mean for smaller business. #CronyCapitalism

  • Dankpup
    244
    very interesting take
  • EconMan
    4.5k
    very interesting takeDankpup

    The entire "value proposition" of my company is at risk. We have NEVER had a client shut down against their will. NEVER. We insist banks agree to a 60-day close-window (I know of no other payments company that does this) in writing so except for bona fide fraud, they can't shut the client down because they get "spooked".

    We get this accommodation from the banks because we agree to also accept 20% of any fraud that is experienced, but it is harder and harder to get banks to agree to this with vapes. We are down to two banks only for vapes. Mostly, because all the bad press.
  • Dankpup
    244
    can you imagine if the CDC went as hard against high sugar food products? Banks being afraid to get involved with that highly suspect processed sugar money? There is a drug store chain located in my shopping center, marketing slogan was “around the corner from happy and health”, a coke truck makes deliverys every single day! Around the corner from diabetes.
  • EconMan
    4.5k


    Indeed.
    The banks (Merchant Banks) in this instance are not being moralistic, or even hypocritical, but are simply risk-averse.
    In this particular case, it is less the direct problems with vapes and more of the "what are regulators and courts going to do and how will that impact the ability of this business to make a profit?" The stupid wars on "Drugs" and "Terror' have resulted in nothing less than Police State regulations around everything payments. A credit card transaction is *THE* quintessential act of "money-laundering". It's why porn, cbd, and guns are easier than vapes. The law around all that is settled. It is why in the USA, "e-wallets" are rarely implemented by small companies. PayPal can handle the intense regulatory overhead and liability -- I can not -- so I don't do them in the USA.

    The truth is vape shops have an extraordinary fail rate (almost as bad as restaurants AND have an extraordinary "Charge-Back" rate, which is the primary variable banks worry about and underwrite from.
    Real World Story.
    Vape company has promise but fails like most under market pressures. Liquidity issues. Can't make payroll. They decide to just end the business and walk away. But first, lets have a Christmas/Holiday sale, sell lots of stuff really discounted (you KNOW you won't have to support it), and then either don't send the merch at all and/or send it knowing you're secretly going out of business in a few weeks (making your product now unsupported and worth much less) anyway. If the former, that's "hard fraud" with jail time and if the latter, soft-fraud resulting in bankruptcy claim against the merchant bank.
  • Dankpup
    244
    High chargeback rate is interesting ,you couldn’t believe the number of brick and mortar vape shops that have popped up where I live, total over saturation, it’s baffeling. I went in one to get torch fuel, didn’t have any name big brand vape, except pulsar apx and in a glass case I saw what I think was a puffco peak or knockoff. Noticed tons of low quality grinders for 25 or 30 bucks that would sell on amazon for around 10 bucks. I’m guess they get a lot of emergency needs/in a pinch shopping.
  • EconMan
    4.5k
    High chargeback rate is interestingDankpup

    They are. And what I can not explain yet is why CBD is so high? I would have "predicted" it would be relatively low. Wrong. Every bank I feel comfortable using requires physical stores can not sell CBD AND vapes in the same building. Still trying to find out the reason for this one. wtf?

    Yeah, headshops got hurt by the internet. Now, near all make most of their $ from tobacco related vapes (which requires a different merchant bank account) and the low price elasticity of demand "emergency" items. Butane at my headshop is twice the cost as Amazon. Everything is more expensive. They have more overhead and most the glasswares are stuff I can get on DHgate.
  • EconMan
    4.5k
    I've been asked and have accepted to be an "expert witness" in testimony before congress on the vaping industry.

    If folks could chime in. What are important things they should hear?

    The big one on my mind right now is that vaping flower and sucking on a nicotine cart are very different things, and it *seems* journalists and lawmakers don't know this.
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