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Show Notes

[00:03:04] - [First question] - What Matt does as a farmer and where he spends his time

[00:03:54] - How big the global crop production and agriculture industry is

[00:05:48] - Key considerations in production efficiency with such a large market

[00:08:15] - John Deere’s role in the global agriculture industry

[00:08:58] - Deere’s business model and how they generate revenue

[00:10:14] - What farmers tend to buy and how distribution works

[00:12:06] - How a farmer traditionally thinks about their business

[00:13:18] - Some of the large machine purchases that a farmer needs

[00:14:11] - What a combine does and its role in crop production

[00:14:53] - The landscape and types of family farms

[00:15:57] - Whether or not farmers can earn above industry returns through any cycle

[00:18:18] - The role Deere plays in controlling variable costs to improve returns

[00:20:38] - The things Matt’s most focused on as a farmer and how Deere optimize outcomes

[00:22:48] - Brand loyalty and mixing and matching machines from different brands

[00:24:55] - What precision agriculture actually means

[00:27:55] - Overview of a harvest and how Deere equipment interacts with it

[00:31:16] - Unit economics and how their recurring relationship generates profit

[00:34:01] - Interpreting data, who owns the data, and digital agriculture analytics

[00:35:55] - What enables Deere to generate such large margins as an industrial manufacturer

[00:40:35] - Is Deere a higher-priced product than its competitors?

[00:41:16] - Recent acquisitions and what it says about their growth

[00:43:17] - The John Deere API and potential third party integration

[00:44:28] - Will farmers even be physically operating machinery in the future?

[00:46:35] - Lessons learned as a builder and an investor from John Deere’s story