In interviews I’m often asked why, if vaping is 95% safer than smoking, there are so many negative stories around vaping.
My answer is that the vaping is a disruptive industry which threatens more than US$700 billion in tobacco revenues and US$250 billion in tax revenues. It’s inevitable there’s going to be opposition to vaping.
But I’m always uneasy this may be interpreted as a conspiracy theory. So to illustrate the scale of the problem, we decided to put some data behind the assertion.
The results are astonishing. Not only is vaping costing billions in tax revenue, it could force some of the very states that have lead the charge against vaping into bankruptcy.
Let’s dive into the data.