Jay Z's cannabis venture fails

[FOCK]

Jay Z's luxury cannabis company goes up in smoke after struggling to sell $50 joints
 

Jay-Z's cannabis brand Monogram appears to be in trouble, with punters loathe to pay $50 for one of his luxury joints and the business losing half a billion dollars since its launch in 2020.

 

The conglomerate behind it, The Parent Company (TPCO), has burned through most of its $575 million launch cash and merged into another firm, which also appears to be in financial trouble, according to SFGATE.

 

Experts on legal weed say it's been much tougher to break into California's tough market than many investors anticipated, and that Jay-Z's Monogram products are over-priced and underwhelming.

 

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[Attaboy]

Where does the tally now stand on failed business ventures for the Carters

 

[Donquizote]

First TIDAL and now this?

[popmusicisdead]

if it was c*****e he would've made that money back in 2-3 business days

 

[Sawk]

No one except pretentious hipsters is going to pay 50 bucks for a single joint, be for real.

 

High quality weed has become sooooooo much cheaper recently, NO thank you Jay-Z

Edited December 3, 2024 by Sawk
typo

[FOCK]

2 hours ago, Attaboy said:

Where does the tally now stand on failed business ventures for the Carters

 

They insist on attempting to launch "luxury" brands that fail over & over, in order to maintain this air of elitism about them - when the public clearly keeps saying "no". 
 

And therein lies the paradox. Their entire brand relies on maintaining this manicured, "unattainable" image, but it's ultimately so shallow & unrelatable that it doesn't sustain. 
 

Like… who struggles to sell weed? And with a half a billion dollar budget at that. 
 

Might be time for him to go back to slinging crack to impoverished communities at the behest of the CIA. 

Edited December 3, 2024 by FOCK

[Morissette]

This explains why Beyonce is selling everything but her damn kidneys

[itshyolee]

Who the hell wants to pay $50 for a joint? 

 

Edited December 3, 2024 by itshyolee

[BnPac]

1 minute ago, Morissette said:

This explains why Beyonce is selling everything but her damn kidneys

So what does Beyoncé have to do with this exactly? 

 

OT : You lose some and you win some. This will not be the last failed business he launches, failing is how people succeed. 

 

[BnPac]

12 minutes ago, FOCK said:

They insist on attempting to launch "luxury" brand attempts that fail over & over, in order to maintain this air of elitism about them - when the public clearly keeps saying "no". 
 

And therein lies the paradox. Their entire brand relies on maintaining this manicured, "unattainable" image, but it's ultimately so shallow & unrelatable that it doesn't sustain. 
 

Like… who struggles to sell weed? And with a half a billion dollar budget at that. 

Yes, indeed, nothing screams unattainable as weed. 

You people just write paragraphs to say nothing. 

The little vendetta Nicki's fans have with Jay just because he signed and likes Megan is just a little bit pathetic. 

 

And what do you mean : who fails at it? Almost everyone actually, they're bunch of articles about it : https://www.greenmarketreport.com/californias-high-profile-cannabis-failure-list-is-growing-fast/

 

Everyone is failing at that and it's been a bunch of months now. 

Edited December 3, 2024 by BnPac

[FOCK]

6 minutes ago, BnPac said:

So what does Beyoncé have to do with this exactly? 

 

OT : You lose some and you win some. This will not be the last failed business he launches, failing is how people succeed. 

 

Succeed at what exactly? 

A billion dollar corporation's attempt to monopolise legal cannabis & overcharge, while the layman can languish in prison for holding a street joint? 
 

And he is reportedly actively in support of defunding public schools? 
 

smh.

Edited December 3, 2024 by FOCK

[FOCK]

Quote

So what does Beyoncé have to do with this exactly? 

Quote

The little vendetta Nicki's fans have with Jay

But what does Ni… 

[sugarysunflower]

32 minutes ago, Donquizote said:

First TIDAL and now this?

He bought Tidal for $56 million and sold an 80% stake for $306 million six years later, and is still allowed to sit on its Board of Directors.

 

Tidal was a good investment all-in-all. 

[FOCK]

1 hour ago, BnPac said:

 

 

And what do you mean : who fails at it? Almost everyone actually, they're bunch of articles about it : https://www.greenmarketreport.com/californias-high-profile-cannabis-failure-list-is-growing-fast/

 

Everyone is failing at that and it's been a bunch of months now. 

As they should, for their disdainful attempts at having a different set of legalities for themselves & passing it off as a "luxury" product, further stigmatising weed use that doesn't so happen to come directly from their  corporatised shelves. 

Edited December 3, 2024 by FOCK

[Johnny Jacobs]

Did he specifically lost 500mil or he lost a potential gain/the investors lost? 

[AxelFox]

Quick Mrs Carter release the Renaissance visuals to get some cash back

[Blade Runner]

1 hour ago, Donquizote said:

First TIDAL and now this?

Plsu, every Beyonce's failed venture in between. 

 

[yonsé]

a barb mad about something completely innocuous, what a shock 

[ChooseyLover]

 

[Yakult]

The headline is misleading. You can read about the business mess in this non-daily mail link.

 

There was never half a billion invested into Jay-Z's pot company bfrfr. The venture was a flop, but the story is only using JAY-Z's name because he's the well known marquee name associated with the story.

 

His company Monogram was one of twenty brands under a parent group literally called The Parent Group which contained 20+ businesses and claimed to have $575m in cash.

 

The Parent Group massively overspent and JAY-Z separated from them in 2022. TPG then went onto merge with another weed company called Gold Flora in 2023 and are still losing masses of money.

 

Jay probably lost Blue's allowance in this venture though, hopefully it inspires Beyoncé to head on tour or release a tour blu-ray or something.

[Lovett]

16 minutes ago, Blade Runner said:

Plsu, every Beyonce's failed venture in between. 

 

Beyoncé's recent ventures have been very successful and continue to be...

[1989]

$50 for a joint? File this away with Tidal 

 

Edited December 3, 2024 by 1989

[PMM]

Tinashe >>>>> 

[Outlaws]

Tidal, but weed style

 

[Blade Runner]

28 minutes ago, Lovett said:

Beyoncé's recent ventures have been very successful and continue to be...

Don't know about that, my love.