On May 5th, the FDA announced the death of the vaping industry by highly regulating the business. Beginning in August, you can expect many local vaping shops that aren’t able to be absorbed by big tobacco to simply go out of business. Many believe it will now cost $100k to start a vaping business after paying the government start up fees. The cost of FDA approvals bankrupts the industry, without question.
The truth be told, the vaping industry as a whole really ticked off the wrong crowd. It had been a thorn in the side of big tobacco and big pharma for a handful of years. Big tobacco attempted intervention by launching their own versions of e-cigs, but remained vigilant in their protest of the sector. Big pharma was upset as well, feeling discouraged that sales of their “cessation” medications had plummeted. Many of pharma’s “cessation” medications are staples in Obamacare.
Pharma and Big Tobacco have a lot to lose. And that means Democrats, who are heavily funded by both, are also in a position to lose. So even in the face of a recent expert independent study from the U.K. finding that e-cigs are 95% less harmful than regular tobacco cigarettes, the cronies decided to destroy the industry. For the good of the people? Clearly, that’s not the case at all. It was for the good of their own bottom lines.
The current best estimate is that e-cigarettes are around 95% less harmful than smoking.
Nearly half the population (44.8%) don’t realize e-cigarettes are much less harmful than smoking.
There is no evidence so far that e-cigarettes are acting as a route into smoking for children or non-smokers.
These crony government relationships are exactly the issue with our country and its flawed policies which favor mega-corporations. This is the opposite of what capitalism was intended to be. Fee’ing these small businesses to death is the same as just telling them they aren’t allowed to operate. It is very similar to the medallion taxi scam that tried to put Uber and Lyft our of business.
Imagine the cold reality: A company comes along and invents a product that helps people quit smoking. And then the smoking company comes along, repackages the same concept, puts the original inventor out of business. That’s what happened here. That’s our “capitalistic society” at work.
Pharma has several notable smoking cessation products. Chantix is the main brand most people know. It has been reported that many people have attempted suicide after use (check this out). But to our government, this horrid medication is a safer option.