Episode 6 - Interview with Dave Swain owner of Vision Technology Management

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

• Implementing technology in agriculture requires a focus on the basics, including equipment maintenance and calibration.

• Accurate yield data is crucial for making informed decisions, but it can be challenging to obtain due to discrepancies in reporting and calibration.

• High-resolution imagery has its limitations, and it is important to consider the practicality and scalability of using such data.

• The ag tech industry needs a solid business model that benefits all stakeholders and ensures a return on investment. Addressing the basics, such as soil pH and nutrient levels, is crucial before implementing advanced ag tech solutions.

• The ag tech industry has a history of overpromising and underdelivering, leading to skepticism and low adoption rates.

• Navigating the ag tech market can be challenging due to the influx of new companies, reliance on venture capital funding, and difficulties in getting paid by large corporate customers. Large corporates need to prioritize paying bills on time to avoid negatively impacting smaller businesses.

• Investment in agriculture technology by larger companies should focus on innovation rather than acquiring struggling companies.

• Government funding and support can drive adoption of ag technology and help solve industry problems.

• Standardizing industry terminology and data infrastructure is crucial for effective communication and collaboration. The agriculture industry faces challenges in implementing data standards and collaboration due to the competitive nature of the industry.

• Data ownership and control are important considerations for farmers when adopting new technologies.

• Farmers need to have confidence in new technologies and tools, and starting small with incremental changes can help build that confidence.

• Simplifying the adoption of technology in agriculture and focusing on practical solutions can lead to improved farming practices.

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