This podcast episode explores the challenges faced by social equity licensees in the cannabis industry, particularly in terms of accessing capital to start their businesses. Traditional bank loans are not available due to the federal illegality of cannabis, and private lenders often charge high interest rates or demand large stakes in the company. Additionally, some investors exploit social equity applicants by extracting most of the revenue. Despite efforts by some states to provide grants and low-interest loans, these programs often fall short. The episode also discusses New York's social equity fund, which has faced criticism for its high interest rates and slow disbursement process. Overall, the lack of access to capital is a significant barrier for marginalized communities in the legal cannabis industry.