Ernest Toney Reveals What They Don't Tell You About 'Legal' Markets
Tue Jan 27 2026
What happens when the cannabis industry promises equity but delivers obstacles instead? Ernest Toney, founder of BIPOCAN, joins Joseph "JoJo" Simmons on the For Good Podcast to expose the hidden barriers Black and brown entrepreneurs face in legal cannabis—from predatory practices to impossible tax rates. He breaks down what real equity looks like and how he's creating pathways for communities locked out of an industry built on their backs.
The cannabis industry claims to be creating opportunities for communities harmed by the War on Drugs—but is it really? Ernest Toney, founder of BIPOCAN (Black, Indigenous, and People of Color Cannabis Network), sits down with Joseph "JoJo" Simmons on the For Good Podcast to reveal the truth about cannabis equity programs and why so many BIPOC founders are being set up to fail.
Ernest shares his journey from working at MJBizCon to launching a mission-driven organization that's helped hundreds of entrepreneurs navigate one of the most heavily regulated industries in America. Growing up with a father who worked at a correctional facility, Ernest witnessed firsthand how cannabis prohibition tore apart Black and brown communities. Now, he's fighting to ensure those same communities have real access to the legal cannabis industry—not just licenses, but capital, mentorship, and sustainable business pathways.
In this powerful conversation, Ernest and JoJo dive into:
Why cannabis equity programs offer licenses but not the resources to succeed
How predatory practices exploit BIPOC founders desperate for capital
The mental health toll of leading a mission-driven business through feast-or-famine cycles
Finding hope when progress feels slow and building something that lasts
The difference between access and true economic equity
Ernest gets real about the "valley of despair" every entrepreneur faces, the importance of community and mental health practices like running and reading, and why he refuses to be a leader who pleases everyone. He also shares practical advice for anyone feeling locked out of opportunity—in cannabis or any industry.
🔌 Subscribe to the For Good Podcast on Spotify, Apple, or wherever you get your podcasts.
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What happens when the cannabis industry promises equity but delivers obstacles instead? Ernest Toney, founder of BIPOCAN, joins Joseph "JoJo" Simmons on the For Good Podcast to expose the hidden barriers Black and brown entrepreneurs face in legal cannabis—from predatory practices to impossible tax rates. He breaks down what real equity looks like and how he's creating pathways for communities locked out of an industry built on their backs. The cannabis industry claims to be creating opportunities for communities harmed by the War on Drugs—but is it really? Ernest Toney, founder of BIPOCAN (Black, Indigenous, and People of Color Cannabis Network), sits down with Joseph "JoJo" Simmons on the For Good Podcast to reveal the truth about cannabis equity programs and why so many BIPOC founders are being set up to fail. Ernest shares his journey from working at MJBizCon to launching a mission-driven organization that's helped hundreds of entrepreneurs navigate one of the most heavily regulated industries in America. Growing up with a father who worked at a correctional facility, Ernest witnessed firsthand how cannabis prohibition tore apart Black and brown communities. Now, he's fighting to ensure those same communities have real access to the legal cannabis industry—not just licenses, but capital, mentorship, and sustainable business pathways. In this powerful conversation, Ernest and JoJo dive into: Why cannabis equity programs offer licenses but not the resources to succeed How predatory practices exploit BIPOC founders desperate for capital The mental health toll of leading a mission-driven business through feast-or-famine cycles Finding hope when progress feels slow and building something that lasts The difference between access and true economic equity Ernest gets real about the "valley of despair" every entrepreneur faces, the importance of community and mental health practices like running and reading, and why he refuses to be a leader who pleases everyone. He also shares practical advice for anyone feeling locked out of opportunity—in cannabis or any industry. 🔌 Subscribe to the For Good Podcast on Spotify, Apple, or wherever you get your podcasts.