

NY's Cannabis Rollout Could Destroy a Legal Entrepreneur
Oct 11, 2023
Coss Marte, CEO of Conbud, and Alfredo Angueira, Chief Compliance Officer, share their struggles to open a dispensary in Manhattan's Lower East Side after New York legalized cannabis. They discuss navigating a complex legal landscape and the overwhelming financial investment that has yet to yield results. With a surge of unlicensed shops overshadowing their efforts, Marte and Angueira reflect on the impact of red tape and regulatory challenges on their dream of contributing to social equity in the cannabis market.
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ConBud's Struggles
- ConBud, a New York cannabis dispensary, has faced numerous delays and legal challenges.
- They've spent over $1 million in preparation, with rent costing $38,000 monthly.
Corporate Interests
- Multi-state cannabis operators (MSOs) are challenging New York's prioritization of smaller businesses.
- They aim to capture a significant market share early on.
Legal Roadblocks
- Two legal challenges are impacting the NY cannabis rollout: one from veterans and one from MSOs.
- The veterans argue for equal access, while MSOs challenge the entire social equity program.