Monsanto paid $1.1 billion to acquire Climate Corp, a deal Friedberg says defined the ag tech sector.
“No. I think if you ask people that work in and around the industry, a lot of people call the acquisition of Climate by Monsanto because they paid $1,100,000,000.”
Friedberg argues ag tech is innovating successfully despite poor VC returns, separating farmer value from investor outcomes.
“I think that the ag market is going through a lot of fantastic innovation cycles right now. Everyone views the ag tech market negatively because the returns for the ag tech investor class isn't there.”
Friedberg argues ag tech delivers real innovation and farmer value despite poor VC returns in the sector.
“But that doesn't mean that ag tech isn't innovating, and that we aren't improving productivity and bringing value to farmers and improving the quality of our food systems.”
Friedberg argues ag tech delivers real innovation and value despite poor VC returns in the sector.
“But that doesn't mean that ag tech isn't innovating and that we aren't improving productivity and bringing value to farmers and improving the quality of our food systems.”
Friedberg explains ag tech sales cycles are fundamentally longer than enterprise software due to seasonal farming windows.
“You know, you get to keep your sales cycle going all the time. In ag tech, you have seasonal cycles that you're kind of stuck to.”
Friedberg argues ag tech is innovating successfully despite poor VC returns from over-investment.
“that doesn't mean that ag tech isn't innovating and that we aren't improving productivity and bringing value to farmers and improving the quality of our food systems.”