The Globe and Mail reports in its Friday, June 2, edition that Ontario Cannabis Store chief executive officer David Lobo says the "race to the bottom" happening with marijuana prices risks hurting the market's future. A Canadian Press dispatch to The Globe reports that Mr. Lobo said in a speech Thursday: "Once you condition consumers to certain prices, it may take a generation to change perceptions and price tolerances. In an economy where inflation has impacted every other consumer good, we can't keep pushing lower." The cannabis boom of 2018 has dissipated. Cannabis companies are taking huge writedowns, laying off staff and rethinking their product mixes as the industry gets a better sense of consumer demand and regulatory hurdles. All the while, the illicit market, where weed is cheaper and sellers operate outside restrictions imposed on the legal market, has remained mighty. The OCS estimated in Ontario alone, the illicit market still made up 43 per cent of the province's weed market last March, down from June, 2020, when it held onto 75 per cent. Many believe the illicit market is greater than the OCS's figures suggest. To stay competitive, cannabis producers have been dropping prices.