Business
What Would You Do With $750 Million of Weed? – New York’s Botched Marijuana Legalization Plan Continues…
New York has pleny of legal cannabis, just no legal way to sell it right now!
A thick odour of cannabis pervades many New York suburbs, the outcome of cannabis decriminalization in 2019 – yet cannabis farmers in the state are at a stall as regards getting their products to market.
The state began issuing growing permits to over 200 farms last spring. Growers have since sown seeds, cultivated rows of plants throughout summer, and concluded harvesting just a few weeks ago. Hundreds of thousands of pounds of marijuana, worth millions of dollars, is now ready to be sold at dispensaries.
The only problem is that instead of being sent to major retailers, the cannabis is simply stacking up. Despite a thriving grey market and the state regulator’s repeated guarantees that cannabis outlets will be commonplace by the end of this year, no legal recreational dispensary has been launched in New York.
The stockpiles, estimated to weigh over 300,000 pounds by the Office of Cannabis Management, pose a slew of issues for farmers. To say the least, cannabis can deteriorate with time. According to Cannabis Benchmarks, a research company that tracks wholesale marijuana pricing statewide, the stash may be worth up to $750 million based on an average projected wholesale value of around $2,500 per pound.
Farmers’ near-billion-dollar revenue will decrease if their harvest is distributed slowly. Meanwhile, producers must figure out how to store it permanently, ensuring that the weed remains as fresh as possible while protecting it from pilfering or contamination.
The Office of Cannabis Management Attempts Towards Launching Legal Recreational Dispensaries
Candidates for one of the first 150 individual retail permits and 25 nonprofit permits expect to hear from the state within the next few days, but this positive step by the OCM is merely the beginning of the lengthy process of operating a legal recreational dispensary.
Melany Dobson, CEO of Hudson Cannabis, a 520-acre plantation approximately two hours north of New York City, said: “It’s an unknown path to market.” She says, “We’ve been repeatedly promised that dispensaries will launch before the year runs out.” I’ve acted as if that’s our only form of proof, so we’re ready for it.
Since 2016, Dobson has been leading the business, previously branded Hudson Hemp, with her brother Ben Dobson and sister Freya Dobson. The fields were stark on a bright November day, with wisps of decaying foliage scattered about. Harvest had finished the previous week, and the cannabis was safely stored elsewhere.
The OCM, which monitors cannabis licenses from its headquarters in Albany, has established a high standard for its initial batch of retail operators — and a mountain of paperwork to contend with in the process. The state has guaranteed that the first licenses will go to applicants convicted of marijuana-related charges before the legalization of recreational marijuana, or their relations, as long as they have experience owning and operating a business in New York. A lot of proof is necessary to establish such credentials and a quasi $2,000 application fee.
After a petition complained of unnecessarily stringent regulations, a federal judge in Albany momentarily barred the OCM from awarding retail licenses in several regions, including Brooklyn, last Thursday. “The goal is to have dispensaries operational before the end of the year,” said Aaron Ghitelman, an OCM spokeswoman. “We’re still shooting for the first sales” by 2023.
When it issued cultivation licenses, the regulator prioritized smaller companies that had already been cultivating hemp — typically used in legal CBD products — over large corporations with no history in the state. The licences came with many restrictions, including the requirement that farms grow no more than one acre of the so-called canopy (equal to around two acres of land size) and that most of the cultivation be done outside.
As a result of the typical Northeast environment, New York’s cannabis farmers are forced to work on a tight timetable. Farmers typically plant marijuana seeds in May to enable outdoor growth rather than greenhouse cultivation. The busy season lasts until late October when harvest begins. The challenge for the remainder of 2022 — or however long it takes for legal recreational dispensaries to launch — is keeping the weed green.
Keeping Harvest Green Till Recreational Dispensaries are Launched
Cannabis, like wine, must be stored in a humidity and temperature-controlled condition. For example, the plants must be kept at a specific temperature throughout the drying process. Over time, producers are more concerned about changes in the crop’s potency and odour, though there are also physical changes.
“Old cannabis develops a brownish tint,” Melany explained. When exposed to air, light, and rising temperatures for an extended time, THC degrades into cannabinol, a weaker and ultimately less helpful molecule.
Hudson Cannabis claims to have the capacity to preserve cultivated cannabis in circumstances that restrict degradation for up to 12 months – a costly setup that not every producer can afford. Dozens of stacked yellow and black bins, each holding around five pounds of the plant, already border the company’s storage facility. Nonetheless, the farmers are modifying their operations to account for the delays.
However, not every cannabis farm is similar to Hudson Cannabis, which has substantial funds and a combined decade of experience between Ben Dobson, Hudson Cannabis’ co-founders and Melany. In addition, the company leases large expanses of land to local farmers to pasture grass-fed goats and beef. The Dobsons are confident they will weather the rough patch between harvest and the eventual ground-breaking for retail dispensaries.
The risks are bigger for many other cannabis farms within New York state. In recent years, a surplus of hemp-derived CBD products has resulted in a nationwide drop in wholesale pricing, leaving some farms in financial distress or bankruptcy. Legal THC sales appeared to be a potential solution for such farms to compensate for their losses. According to an August statement from the mayor’s office, the market for recreational cannabis is expected to exceed $1.3 billion in revenue in New York City alone by next year.
Conclusion
Farmers like the Dobsons will remain in a dilemma until legal recreational dispensaries are open. Because cross-state sales are prohibited, growers cannot sell their harvests to outlets in Massachusetts, New Jersey, or other states where retail operations are already in place. It’s either New York or nothing.
Business
Jio’s 1,600-Satellite LEO Constellation Gets Technical Green Light
Reliance Jio has crossed a significant milestone in its space connectivity ambitions after its proposal to deploy a Low Earth Orbit (LEO) satellite constellation of around 1,600 satellites received a positive technical assessment from the Indian National Space Promotion and Authorisation Centre (IN-SPACe).
The evaluation, conducted jointly by IN-SPACe, the Indian Space Research Organisation (ISRO), and the Wireless Planning and Coordination (WPC) wing of the Department of Telecommunications, reportedly concluded that Jio’s proposed system meets the required technical standards and is comparable to leading global satellite broadband networks.
India’s Indigenous LEO Satellite Vision
Under the proposal, Reliance Jio plans to deploy between 1,600 and 1,650 satellites in Low Earth Orbit at an altitude of around 650 kilometres.
The planned constellation is expected to provide high-speed satellite connectivity across India, with approximately 32 satellites visible from any location at a given time. The company aims to roll out the network within the next two to three years, subject to regulatory approvals.
According to industry estimates, the satellite system could deliver 4.5 to 5 terabits per second (Tbps) of total data capacity, making it one of the largest satellite broadband projects proposed in India.
The project is expected to require an investment of $10–15 billion (approximately ₹95,000 crore to ₹1.42 lakh crore), reflecting the scale of infrastructure needed for satellite manufacturing, launches, ground stations, and user terminals.
Regulatory Process Moves Forward
Following the successful technical review, the proposal is expected to move into the next phase of regulatory approvals.
The government may now assist Jio in securing orbital slots, coordinating spectrum usage, and filing applications with the International Telecommunication Union (ITU), the global body responsible for managing satellite orbit and frequency allocations.
Obtaining orbital rights remains a critical step, as Low Earth Orbit has become increasingly competitive due to the growing number of satellite broadband projects being planned worldwide.
Officials also indicated that the proposed satellite architecture has been designed to coexist with future Indian LEO constellations, allowing multiple domestic operators to share orbital resources efficiently.
Broadband, Mobile Connectivity, and Strategic Applications
Jio plans to use the satellite network to provide a range of communication services, including satellite broadband, mobile backhaul, enterprise connectivity, and direct-to-device (D2D) satellite communication, particularly in remote and underserved regions where conventional telecom infrastructure is limited.
The company also intends to establish 20 to 22 ground stations across India to support network operations.
Apart from commercial telecommunications, officials have highlighted the project’s potential strategic importance. A domestically developed satellite constellation could strengthen India’s communication infrastructure, reduce dependence on foreign satellite operators, and support national security requirements.
Reports suggest preliminary discussions are underway regarding the possibility of integrating defence-related payloads into some satellites, enabling both civilian and strategic use.
Major Step for India’s Space and Telecom Sectors
Industry analysts view the technical clearance as an important milestone in India’s expanding private space ecosystem. If Jio secures the remaining regulatory approvals and international orbital clearances, the project could become the country’s first large-scale indigenous LEO satellite broadband network.
The initiative also aligns with India’s broader efforts to expand digital connectivity while strengthening its presence in the global satellite communications market.
Business
Alleged Crores Pharma Scam Mastermind Arrested from Surat
After evading law enforcement for nearly 13 years, an accused linked to a large-scale pharmaceutical fraud case has been arrested by Delhi Police from Surat, Gujarat. The suspect is alleged to have orchestrated a series of financial scams involving fake identities, forged documents, and dishonoured cheques used to procure high-value pharmaceutical raw materials.
Authorities say the accused, identified as Himmat Singh Lodha, is believed to have defrauded multiple pharmaceutical companies in Delhi of goods worth approximately ₹98 lakh before disappearing and remaining underground for years.
Fake Business Deals and Dishonoured Cheques Used in Fraud
Investigators claim the accused posed as a legitimate pharmaceutical trader and placed bulk orders for expensive drug ingredients, offering post-dated cheques as payment security.
In one documented case from 2013, he allegedly obtained around 550 kilograms of Gliclazide, a diabetes-related pharmaceutical ingredient, valued at over ₹26 lakh. When suppliers attempted to encash the cheques, they were reportedly returned with the remark “account closed.”
Following the transaction, the accused allegedly vacated his office and rented residence and disappeared without settling payments. He was later declared a proclaimed offender in 2016 after repeatedly failing to appear before court proceedings. Authorities had also issued a reward for information leading to his arrest.
Multiple Identities and Repeated Fraud Pattern
Police investigations further link the accused to another cheating case dating back to 2012, where he allegedly used a fake identity, “Kailash Jain,” to obtain a large consignment of Ambroxol HCL, a pharmaceutical compound used in cough medications. The value of that consignment was estimated at around ₹72 lakh.
Officials believe the accused followed a consistent modus operandi—posing as a credible businessman, securing high-value goods on deferred payment terms, and then disappearing after delivery while shutting down business operations.
Investigators suspect that forged business records, fake company credentials, and fabricated financial histories were used to build trust with suppliers and gain access to expensive raw materials.
Multi-State Surveillance Leads to Arrest in Surat
A special Crime Branch team tracked the accused through coordinated surveillance efforts across multiple cities, including Mumbai, Ahmedabad, and Surat. After nearly a month of technical monitoring and intelligence gathering, officials located and arrested him from a residential area in Surat.
Authorities also revealed that the accused had been involved in property-related activities while staying under the radar to avoid detection.
Growing Threat of Corporate Identity Fraud
The case highlights a rising trend of organised financial fraud targeting industries that rely heavily on trust-based transactions and deferred payments. Experts note that criminals increasingly exploit gaps in corporate verification systems by using fake GST registrations, temporary offices, and forged documentation to appear legitimate.
Cybercrime and financial fraud specialists warn that such schemes are becoming more complex with the widespread availability of digital business tools, making it easier to create convincing but fraudulent corporate identities.
Experts Urge Stronger Due Diligence in High-Value Transactions
Experts, including former IPS officer and cybercrime specialist Prof. Triveni Singh, emphasize the need for stricter verification procedures in commercial dealings. He noted that relying solely on paperwork or digital business profiles can expose companies to significant financial risk.
Authorities and industry experts recommend physical verification of business operations, bank account validation, and detailed background checks before engaging in high-value or deferred-payment transactions—particularly in sectors like pharmaceuticals, where single consignments can involve transactions worth crores.
Business
EU Pressure Builds on Google as Regulators Face Calls for Massive Fine Over Search Practices
A growing coalition of European industry groups is intensifying pressure on regulators to take decisive action against Google over allegations of unfair search practices that could reshape competition rules across the region’s digital economy.
Investigation Under Digital Markets Act Gains Momentum
The case is being examined by the European Commission under the European Union’s landmark Digital Markets Act (DMA), introduced to curb the dominance of major technology platforms and ensure fair competition.
Launched in March 2024, the investigation focuses on whether Google has been prioritising its own services in search results, potentially disadvantaging rival businesses that rely on online visibility to reach customers.
Industry Groups Demand Swift Action
Several prominent European organizations have jointly urged regulators to conclude the probe without further delay. They argue that prolonged investigations allow alleged anti-competitive practices to continue, putting European companies—especially startups—at a disadvantage.
Signatories include the European Publishers Council, the European Magazine Media Association, the European Tech Alliance, and EU Travel Tech.
In a joint statement, these groups warned that delays in enforcement are affecting innovation, profitability, and growth prospects for regional businesses competing in digital markets.
Google Denies Allegations
Google has rejected claims of bias, stating that its search algorithms are designed to deliver the most relevant and useful results to users. The company has also proposed adjustments to address regulatory concerns.
However, critics argue that these changes are insufficient and fail to address the core issue of market dominance.
Potential Billion-Euro Penalties
If found in violation of the DMA, Google could face significant financial penalties. Under EU rules, fines can reach a substantial percentage of a company’s global turnover, potentially amounting to billions of euros.
Regulators may also impose corrective measures requiring changes to business practices, which could have long-term implications for how digital platforms operate in Europe.
Wider Implications for Big Tech
The case highlights ongoing tensions between European regulators and major U.S. technology firms. In recent years, the EU has taken a more aggressive stance in enforcing competition laws, aiming to create a level playing field for local businesses.
A final ruling against Google could set a major precedent, influencing future enforcement actions and shaping the regulatory landscape for global tech companies operating within Europe.
As scrutiny intensifies, the outcome of the investigation is expected to play a critical role in defining the future of digital competition across the European Union.
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