This episode explores the boom and bust of Pueblo, Colorado's cannabis industry a decade after recreational marijuana legalization. Against the backdrop of Pueblo's economic struggles and the promise of a cannabis-fueled revival, the city saw an initial surge in businesses and tax revenue. More significantly, however, the rapid influx of businesses, coupled with high taxes and the persistence of the black market, led to intense competition and widespread business failures. For instance, Sticky Icky's, a once-thriving dispensary, saw its daily sales plummet from $20,000 to $2,500. The influx of people seeking work in the cannabis industry also contributed to increased homelessness and crime, straining social services and local resources. Ultimately, Pueblo's experience serves as a cautionary tale for other communities considering cannabis legalization, highlighting the need for careful planning and realistic expectations to avoid similar pitfalls. The city is now shifting its economic focus away from cannabis, emphasizing the importance of learning from past mistakes in the evolving legal marijuana landscape.
