Ag Uncensored with Nathan Faleide
Business
Summary
In this episode of Ag Uncensored, Nathan Faleide interviews Dave Swain owner of Vision Technology Management a consultant company he create being an expert in AgTech and precision ag. They discuss the challenges of implementing technology in agriculture and the importance of focusing on the basics. They highlight the need for proper equipment maintenance and calibration, as well as the importance of accurate yield data. They also touch on the limitations of high-resolution imagery and the need for a solid business model in the ag tech industry. The conversation highlights several key themes in the ag tech industry. One theme is the need to address the basics before implementing complex technologies. The speakers discuss the importance of fixing fundamental issues like soil pH and nutrient levels before adopting advanced tools. Another theme is the overpromising and underdelivering of ag tech solutions, which has led to skepticism and low adoption rates. The conversation also touches on the challenges of navigating the ag tech market, including the influx of new companies, the reliance on venture capital funding, and the difficulties of getting paid by large corporate customers. The conversation highlights the challenges faced by large corporates in paying bills on time, which can have a negative impact on smaller businesses. The discussion also touches on the lack of investment in agriculture technology by larger companies, with the focus being on acquiring struggling companies rather than investing in innovative solutions. The idea of government funding and support for ag technology is proposed as a way to drive adoption and solve larger industry problems. The importance of understanding and defining industry terminology and standardizing data infrastructure is emphasized as a way to improve communication and collaboration within the industry. In this final part of the conversation, Nathan Faleide and Dave Swain discuss the challenges of implementing data standards and collaboration in the agriculture industry. They highlight the competitive nature of the industry and the lack of cooperation between major companies. They also discuss the importance of data ownership and control, as well as the need for farmers to have confidence in new technologies and tools. They emphasize the value of starting small and making incremental changes to improve farming practices. Overall, they advocate for simplifying the adoption of technology in agriculture and focusing on practical solutions.
Takeaways
Chapters
00:00 Introduction and Background
03:01 The Challenges of Implementing Ag Tech
11:18 The Importance of Basics in Precision Ag
28:13 The Impact of Mistakes and Overwhelm on Adoption
35:26 The Need for a Return on Investment and Simplification
37:14 The Challenges of Changing Farming Practices
38:05 The Complexity of Agricultural Technology
39:36 The Challenge of Keeping Up with Technology
40:16 The Rapid Growth of AgTech Companies
42:37 The Role of Venture Capital in AgTech
44:01 The Challenges of Adoption in AgTech
46:20 The Risks of Depending on Big Contracts
47:30 The Importance of Cash Flow in AgTech
49:03 The Impact of Late Payments on AgTech Companies
51:43 The Need for Government Support in AgTech
55:33 Reevaluating the Business Model of AgTech
58:43 Focusing on Core Business and Complementary Technology
01:03:31 The Challenges of Monetizing AgTech
01:04:46 Learning from Past Mistakes in AgTech
01:06:22 The Role of Consultants in Advancing AgTech
01:07:13 The Need for Wisdom and Perspective in Agriculture
01:08:19 The Importance of Understanding the Past
01:09:15 The Need for Curiosity and Listening in Agriculture
01:10:24 Collaboration between Industry and Government
01:11:33 The Importance of Communication and Standardization
01:12:21 The Miscommunication and Lack of Listening in Agriculture
01:13:18 The Importance of Clear Communication and Definitions
01:14:25 The Need for Perspective in Agriculture
01:15:26 The Importance of Infrastructure and Data Security
01:16:29 The Role of Industry and Government in Standardization
01:18:19 The Challenges of Collaboration in Agriculture
01:19:31 The Role of Public-Private Partnerships in Agriculture
01:20:27 The Challenges of Bureaucracy in Agriculture
01:21:39 The Role of Crop Insurance in Incentivizing Adoption
01:22:29 The Role of Crop Insurance Agents in Data Management
01:23:39 The Importance of Data Processing and Information
01:24:38 The Value of Asking the Right Questions
01:25:48 The Limitations of Imagery and Data
01:26:36 The Limitations of Artificial Intelligence
01:27:40 The Importance of Incremental Change in Agriculture
01:28:30 The Need for Simple and Practical Solutions
01:29:46 The Role of Farmers in Agriculture
01:30:22 The Challenges of Adoption and Return on Investment
01:32:21 The Importance of Time and Replications in Data Analysis
01:33:45 The Value of Incremental Changes in Farming Practices
01:35:27 The Role of Technology in Managing Small Fields
01:37:34 The Importance of Understanding Yield Variability
01:39:15 The Need for Incremental Change and Confidence in Technology
01:40:18 Contact Information
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