Colorado's weed market is experiencing a significant downturn, causing concern among other states. Sales have plummeted by $700 million, leading to business closures and layoffs. Industry insiders admit to overestimating the market's potential and believing too much in their own public relations. The decline is attributed to increased competition as more states legalize cannabis, reducing the influx of customers from neighboring states where cannabis remains illegal. The industry is in a free-fall, with businesses shuttering as a result.