Observed turbulence in space and astrophysics is expected to involve cascade and subsequent dissipation and heating. Contrary to standard collisional fluid turbulence, the weakly collisional magnetized plasma cascade may involve several channels of energy conversion, interchange, and spatial transport, leading eventually to the production of internal energy. This paper describes these channels of transfer and conversion, collectively amounting to a complex generalization of the Kolmogorov cascade. Channels may be described using compressible magnetohydrodynamic (MHD) and multispecies Vlasov–Maxwell formulations. Key steps are conservative transport of energy in space, parallel incompressible and compressible cascades in scale, electromagnetic work on particles driving macroscopic and microscopic flows, and pressure–strain interactions, both compressive and shear-like, that produce internal energy. A significant contrast with the collisional case is that the steps leading to the disappearance of large-scale energy in favor of internal energy are formally reversible. This property motivates a discussion of entropy, reversibility, and the relationship between dissipation with collisions and in the Vlasov system without collisions. Where feasible, examples are given from MHD and Particle in Cell simulations and from MMS observations.