Decoder with Nilay Patel Recode Decode: Gro Intelligence CEO Sara Menker
Aug 28, 2019
Sara Menker, founder and CEO of Gro Intelligence, discusses her journey from Wall Street oil trading to revolutionizing agriculture with data and AI. She emphasizes the critical role of big data in improving farming practices and overcoming financial barriers faced by farmers. Menker highlights the impact of geopolitical events like the US-China trade war on agricultural markets. The conversation also touches on the complexities of fresh produce markets and the rise of meat alternatives, underscoring the need for innovation and diversity in the ag-tech industry.
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From Wall Street to Agriculture
- Sara Menker's interest in ag-tech stems from her experience as an oil trader during the 2008 financial crisis.
- She realized the importance of tangible assets like agricultural land.
Farming Economics
- Farming economics are complex, even with capital.
- True production costs often exceed initial land purchase price, making arbitrage difficult.
Data-Driven Farming
- Farmers often operate anecdotally due to fragmented and disorganized data.
- Grow Intelligence aims to fix the system around farmers, not sell directly to them.