2022 Review: The Best and Worst of AgTech

January 5th, 2023 - My 25th Edition of my Easy Observations in AgTech and EO Newsletter

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Opening Thoughts:

I’ve been very behind to my readers to say the least. From my new business to winter storms to the holidays and typical sickness with myself and kids, the end of 2022 has been interesting. I can’t complain too much and while I’m a little late on the whole New Years newsletter thing here it is.

To reflect some, with me starting this whole newsletter close to a year ago in first talking about Earth Observation in Ag more and shifting towards general AgTech I can gladly say that my bet is this will change once again by this time next year. Not sure what, but still Ag focused. Time will tell, but I hope you all keep reading and sharing.

Now, let’s get to the meat and potatoes as I’m sure you’re clamoring to know who I believe is the best and worst of us in AgTech. First off, I picked this topic because everyone thinks about this in all realms of life all the time. It’s ingrained in our brains to know who’s the best and worst at the end of the year. So why the hell not…

The Best:

I’m keeping this generally simple….Farmwave.

Why?: They are solving one problem that is needed in a black and white way.

What is it?: A product that detects header and combine grain loss by using cameras and AI/ML processes.

What’s the difference? Varies naturally, but 3-5% difference in preventing yield loss from harvesting.

Will farmers care?: They do already, the thing is it’s something they can change themselves and have been able to always yet they don’t always have the best tech or tools to do it accurately all the time. Currently outdated sensors and drop pans behind the combine are your solutions.

What’s the driver?: ROI and bragging rights.

Is it affordable?: It’s something where you can see how it pays for itself with the use of easy math to understand it. Priceless

Is it hard?: No, 3 cameras on magnets, some wires for power, and a Bluetooth connection to a tablet. So basic everyday life crap there.

So really, why though?: Well I’ll be honest, I am on their advisor board, but I don’t get paid in anyway for it. Just was asked and said sure. What I have done is learned who they are and what they really are doing. They cross the most check marks for me for a traditional AgTech based business. Also, their product has many more Ag industry possibilities and non-Ag ones too. The product could at some point be directly integrated into machines. It’ll be key to future automation in other robotic based equipment in Ag. It could become a standard option on all combines at some point too. I could go on…

All in all, it solves a problem with a basic end result in helping understand how you are losing yield and money. That is more or less the one thing always on farmers minds. Farmwave mainly is fine tuning and enhancing how you see it during one of the most important times of year, harvest and keeping it simple.

The Worst:

Before I say who, and I’m sure many will agree or guess it, I will say one thing. This happened to this group for two reasons: Poor Leadership and Poor Understanding of cultural differences in Ag.

Yup…Farmers Edge. The numbers and the news speaks for itself and I don’t think I really need to explain why either. I will dive into those two reasons I mentioned to give a little reasoning.

Leadership: I could jump deep into this as in the past (04’-11’) I worked very close with many of them, but I’ll keep it simple and I won’t get personal either. I think the main real problem leadership had from my perspective was creating false assumptions because of their misunderstanding of Non-Canadian Ag cultural and business differences.

The Culture Issue: To expand into this more, one thing that I always found working with many (not all) Canadian companies trying to jump into the US or beyond is that typically it’s way harder than they think. It’s possible, but you have to think deeper on it. Western Canada pretty much farms in very similar ways. Sure there are differences, but they aren’t as dramatic compared to the US. State to State can be very different and regions within the State. Then you have just different systems with the USDA, Crop Insurance, Ag Retailers, and beyond. Does Canada have some similar things or even the same? Yes, they just are run and are managed completely different. All the same goes for other countries. This is also especially true around Agronomy advice which was their main thing. Equipment is much easier to do.

So basically they expanded too fast everywhere and had to because each different cultural area they tried they failed at reaching clients via their Agronomic approach. For example, you’d think that North Dakota where I live or Montana would be easy fits. Very much the opposite. Why? Beyond the normal differences there is a natural stigma especially in Northern States in having Canadians tell us what to do. This happens in the US State to State even so this all just gets compounded as you expand.

With all that said, there are many other reasons I don’t know, can’t say, or won’t say in why they basically turned into a big nothing burger. You can dive into it all and give every reason or even excuse, but at the end of the day they are the worst AgTech company I’m aware of and that’s about all I’m going to say about that from now on.

Thanks for reading Easy Observations! Please Share, Subscribe, and Comment if you would be so kind. I’d also be happy to get together and meet if you’d like to talk more in-depth about AgTech or Earth Observation in Ag. Feel free to contact me at my website. All the best!

To close…one more meme: For all you new to AgTech and building new solutions, beware of the meme below for future reference.