Saturday, September 14, 2019

Ontario -loses- millions selling weed.

You know how we joke that the government is run by fuck-ups who couldn't make money selling dope? Guess what:

Ontario Cannabis Retail Corp. lost $42 million in the latest fiscal year, according to newly released public documents.

The provincial Crown corporation tasked with online sales and wholesale distribution of recreational pot reported revenues of $64 million for the year ended March 31, 2019.

However, Ontario's consolidated financial statements show the OCRC, which operates as the Ontario Cannabis Store, racked up expenses totaling $106 million during the period.

For those who don't know, the Ontario Cannabis Retail Corporation is not a brick-and-mortar operation. They run a WEB SITE. These incredible, unbelievable assholes spent $106,000,000 taxpayer dollars on a web site and a warehouse.

I have seen their web site. It is a steaming pile of shit. I have seen little mom-and-pop vitamin stores that had better web sites and offered better service. A do-everything custom web site for retail costs about $300,000 at the high end of the range.

A gold-plated warehouse with all the trimmings and super security would cost at most $10 million in a private enterprise setting. The producers who grow the fricking weed have entire production facilities that go from seed-in-dirt to finished-packaged-shipped product, and those cost a lot less than $100 million bucks. According to industry numbers, a grow-op costs $42 per square foot for indoor cultivation.

And that is why I am for smaller government and lower taxes. Because government is where money goes to die.

The Phantom


Orvan Taurus said...

This sort of thing is I can't do parody/satire.
Reality is just so much better at it!

Ted High said...

There is a story about the IRS having to take over the Bunny Ranch because of problems. In two years they closed because they were bankrupt. They couldn't make a go of it. Ontario and Canada are no different and we expect these people to to run healthcare and other things.