243 Paul Greive – How the biggest exit in regeneration led to millions of more chickens on pasture - Investing in Regenerative Agriculture and Food

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Imagine you want to grow some healthy food for your
family and friends and ordersomehow I don't know, I know it
sounds weird 50 chickens throughFacebook.
You sell them and sell them allactually very fast, and you do
the next batch and the nextbatch and it's getting a bit out
of control.
So soon you're doing 600 birdsa week, but of course you're
running into trouble.
You're selling quite a lot tochefs and the sales part is not

(00:21):
the issue, but you're verydependent on an expensive feed,
broilers, processing, slaughter,and then you take a very
difficult decision you sell yourat the time the largest
pasture-raised chicken companyin the US says more about the
sector than about this companyto one of the largest chicken
producers in the world.
Yes, it's family owned this one, but it still does 8 billion in
revenue.
It's a very large organicproducer but has also 21,000

(00:44):
employees and is definitely notpasture-raised.
So what happens next?
Many can guess this becausewe've seen it so many times
before.
The founder leaves the companyas soon as he can or she can.
The senior management does thesame.
The big corporate ticks overand starts to cut costs,
downgrade the practices andbasically the long way down
starts.
But in this case that didn'thappen.
The founder is still there.

(01:04):
We talked to him today.
The impact has been enormous.
Millions of birds are raised onpasture every year because of
this accident sale.
And of course, it's not beenwithout downsides.
We cover them as well in theinterview.
But overall it seems like ithad a net positive outcome, a
very successful one of the fewexits in general in the
regenerative space.
So we dive deep into thepositive impact of chickens.

(01:25):
Can they ever be regenerative?
We still have a long way to go.
The impact on the gradedfarmland, replacing fossil fuel
and toxic fertilizer, of course,the nutrient density of
pasture-raised birds.
And one of the biggest exits inthe space Enjoy.
What are the connectionsbetween healthy farming

(01:50):
practices, healthy soil, healthyproduce, healthy gut and
healthy people?
Welcome to a special serieswhere we go deep into the
relationship betweenregenerative agriculture,
practices that build soil,health and the nutritional
quality of the food we end upeating.
We unpack the current state ofscience, the role of investments
, businesses nonprofits,entrepreneurs and more.

Speaker 2 (02:10):
We are very happy with the support of the Grandham
Foundation for the protectionof the environment for this
series.
The Grandham Foundation is aprivate foundation with a
mission to protect and conservethe natural environment.
Find out more ongrandhamfoundationorg or in the
links below.

Speaker 1 (02:36):
Welcome to another episode Today with the founder
of pasture bird.
Welcome, Paul.

Speaker 3 (02:40):
Hey, thanks for having me, kahn, I'm excited.

Speaker 1 (02:42):
There is so much unpacking here, but let's start
for anybody.
Of course, I'll put the linkbelow and other interviews
you've done as well, but justfor people.
This is an audio medium, solet's try to talk visually.
Let's get into what is pasturebird first, and then we get into
your journey.
What is pasture bird?
We're currently recording May2023.

(03:03):
I don't think it's changingthat much, but if you had to
edit in a party, somebody askswhat do you do exactly, paul?
And then you had to, in betweenthe dishes and in between the
different plates, explain it.

Speaker 3 (03:15):
What do you normally say.
So in the grand scheme ofthings we're a very small
poultry company and we'reprobably the world's largest
pasture raised chicken company.
So we operate in this veryweird sort of in between space.
But our secret sauce is allaround raising broilers so meat

(03:35):
chickens outside on pasture andmoving them to fresh pasture
every single day.
The birds are allowed to forageand pick and scratch for bugs
and worms and also heal degradedcropland.
So that's kind of what we'reinto.
We sell chicken as a byproduct.

Speaker 1 (03:54):
And so the service is regeneration.
And how did you get into thatspace?
Because it's not that you cantap into a family history
company of pasture bird at scale, because it just wasn't there,
like at some point.
You, you with other peopleobviously, but you created that.

(04:14):
What made you create theworld's largest pasture raised
bird company on the planet?

Speaker 3 (04:21):
It was a.
I'm a city kid, born and raisedin Seattle Washington, and I
went into the Marine Corps aftercollege and I contracted Lyme
disease during sniper school andstarted having a bunch of
health problems.
And my family wanted to eatbetter and we were looking for
organic produce and pastureraised meats and we could kind
of find almost everything exceptfor pasture raised chicken in

(04:43):
our area.
So on a whim, ordered 50chickens for our backyard, just
for ourselves, like as a littlehobby.

Speaker 1 (04:50):
Because it was the minimum 50, because otherwise
you do 10 or something just tokeep them alive?

Speaker 3 (04:55):
That's actually, yeah , it's a great question.
For some reason the storyactually goes.
We were joking around aboutgetting some chickens for the
backyard and my brother-in-lawtook it seriously, left the room
for about 10 minutes and cameback and he said hey, I ordered
those 50 chickens that you guyswere talking about.
And we said what are youtalking about?
We weren't talking about reallyordering those, you know.

(05:16):
And yeah, 50 came.
We were big fans of what JoelSalatin does in Virginia here in
the US and we followed kind ofhis daily move.
You know, covered principlesfrom scratch and it was never
meant to really be a business,it was just a hobby for our
family.
But one thing led to anotherand it blossomed into what it is

(05:37):
today.

Speaker 1 (05:38):
But I mean there are a few steps there.
And how did you stumble uponthe Joe Salatin of this world
and because that's I meanMichael Pollan made him pretty
famous with the Omnivore Dilemma.
But still you were going deepinto the health side and somehow
went into that specific part ofthe health side animal protein,
et cetera.
You could also take anotherexit Totally.

(05:59):
Do you remember, how you like,why the protein side became so
important to you?

Speaker 3 (06:07):
Yes, so, like you, my family was interested in Alan
Savry's stuff before he was whathe is today following the TED
Talk and all that.
So my father-in-law has been ageneral contractor pretty much
his whole life but he alwayswanted to raise cattle and he
had read Savry's stuff since the1980s and he always had these
weird books laying around andnobody really knew what he was

(06:28):
doing in his office and readingall this weird stuff and I think
we probably saw Omnivore'sdilemma started to connect the
dots that well, this stuff isthe same stuff that my
father-in-law, tom, has beentalking about for so many years
and it kind of just connectedthe two.

Speaker 1 (06:46):
And then, okay, how do you go from 52?
How many chickens are youraising, more or less?
I mean, you're part of a muchbigger company, which we'll talk
about later.
I don't know how much you candisclose, but it's safe to say
you added a few zeros.
And how do you go from 52 toadd?

Speaker 3 (07:01):
Yeah, we're raising millions of birds per year.
Now you know, I wish it wasthis beautiful linear path where
everything was planned out.
We had a 10-year plan.
It wasn't at all.
We had a few breakthroughs, sothat 50 birds which was meant
for our family, we essentiallylisted them out on Facebook and

(07:23):
kind of offered them up tofriends and family, and all 50
sold out.
So then the next time wedecided to do 100, and then
after that 200, and then afterthat, you know, 400.

Speaker 1 (07:32):
Where did you raise them, Like how big is your
backyard?
Because you wanted to move themregularly, because that's what
you read Like you need quite abit of time.

Speaker 3 (07:40):
My wife and I were living in Newport Beach I was
working as a CPA and I was ingrad school doing my MBA but her
parents had a small place outin the country so they had about
I would call it a quarter acrebackyard so maybe a large
backyard, but definitely not afarm, but it was enough space to
do, like one, you know, twoJoel Salatin style coops and

(08:02):
move those every single day.
And then our big breakthroughprobably came in 2013, 2014,
when the LA Lakers, which is areally influential basketball
team out here Kobe Bryant was onthe team and some of these guys
they reached out because theywanted our protein for their
players' meals and they senttheir team chefs out, kind of

(08:24):
this whole thing and we got tostart working with the Lakers
and then, right after that, theLA Dodgers, which is our big
baseball team out here, and thatjust it's not that the orders
were huge, but it really gave usthis like vote of confidence
that what we were doing wasimpactful and we wanted to scale
.

Speaker 1 (08:40):
Because at that point you already incorporated, you
were an official company.
You were not doing this onlyfor family and friends anymore.

Speaker 3 (08:45):
Yeah, it had gone beyond, but we we didn't.
You know, in 2014 we quit ourjobs, we moved into this little
1700 square foot house.
There was like nine of usliving in this little three
bedroom house and we said we'rejust going to put everything on
the table, reinvest all theprofit that we can and try to
grow this thing.
So I think that that thatcontract with the two pro sports

(09:08):
teams really like gave us theconfidence to go for it.

Speaker 1 (09:13):
And then you could have gone down the route of very
high end I mean, let's say nottoo automated and all of that,
but you didn't.
You definitely like, when didthe let's regenerate, let's say,
hurt farmland and have chickensas a byproduct?
When did that come into play?

(09:33):
Because that's not the backyardof your family, a lot Like
that's a different mindset.
Okay, let's go into very bigfields.
You can see it on LinkedIn, youcan see it on on the website as
well.
This is a different, almostalmost a different company or
different approach.

Speaker 3 (09:50):
It developed, I think , over time.
I didn't grow up in agricultureso I didn't even know a lot of
the problems that existed in ag.
And as we dove in and westarted to study and understand
the whole thing with the cropfields really came because,
raising monogastric, we have alot of grain inputs into our
system, so we buy a lot of youknow, monocrop corn and soybeans

(10:13):
that feed our system.
I said, well, this can't reallybe regenerative as long as
we're buying all these off farminputs.
That doesn't really make sense.
So then the mindset started tobecome well, how could we
eventually produce our owngrains in this like circular
system in a regenerative way?
And the other thing thathappened is we just you know, I
didn't come up with money,nobody in my family came up with

(10:34):
money and we're raising thissmall scale, very niche product
selling to people like theLakers and the Dodgers and, you
know, wealthy people aroundSouthern California.
And it was just this weirdfeeling like my parents couldn't
have afforded what we'reproducing right now.
And how are you really going tomove the needle and change the
world if you're basicallyproducing food for rich people?

(10:56):
And it became really this likeinteresting confluence of
wanting to impact large scalemonocrops and heal these crop
lands and also bring down thecost of nutrient dense.
You know, pasture as poultryand we started to develop this
idea of like.
I think this space needs scalein order to be like, viable.

Speaker 1 (11:17):
And then do you remember bringing out the birds
for the first time on one ofthose fields and how did that go
?
Because of course the sizeneeds to be different than your
typical gelatin-style, likechicken caravan, like, did you
contact the farmer?
Did the farmer contacted you?
Is that a guy of a service tooffer, or how did that even
start?

Speaker 3 (11:39):
Yeah, so we we'd probably at least six different
farms.
You know, we didn't have anymoney again so we weren't going
out and buying land or anythinglike that.
We were just always looking forgood places to lease.
And I remember driving by thisold potato field that was about
40 minutes from where we werefarming and I looked out and it
was just this dusty old field.
You could tell it was justdevoid of life and it had been

(12:01):
fumigated and you know all thedifferent chemicals had been
sprayed on it for the last 50years.
And the agent that I was withsaid, oh, that's this old, you
know historic potato family outhere In Southern California.
They said don't, don't reallybother calling, there's nothing
going on here.
You know you're not going toget the spot.
And I said I'm just gonna giveit a try Found the phone number,
called him up and, as fatewould have it and this has

(12:23):
happened many times throughoutour business, just this kind of
lucky breaks or God's lookingout for us, you know and they
said you know, it's funny, youcalled right now.
We decided not to plantpotatoes anymore and we just
wanted to look for somebody tolease the land from us, and I
mean this, this field.
The first day we got out thereyour boot, you know, when you

(12:46):
step into this sandy, dustyfield your boot would drop like
12 inches into the soil or dirtis really what it was.

Speaker 1 (12:53):
I just even after your chickens into that?
Yeah, for sure.

Speaker 3 (12:59):
Well, not only that, because it's kind of hard to
call it pasture-raised chickenwhen it's just a bunch of dirt,
you know, and it took severalyears before we could add cattle
in, because it was just littleweeds, you know, popping up here
and there and it was reallyhard to get anything going.
They had not farmed that fieldfor a couple years, so it wasn't
like we're putting them on totoxic chemicals or anything like

(13:21):
that, but they had beendefinitely disking it and
telling it for several yearsbefore we got there.
So there wasn't much soil lifeleft.
It was actually less than 1%organic matter and we started
putting the birds on, rotatingthem, moving them.
You know, in hindsight the stuffsounds really easy, but it's
like it just took many years tostart to get that soil healthy

(13:43):
and now it's at almost 4%organic matter.
I mean, this year we have grasslike waste high.
We added a lot of cattle tohelp manage the ground because
the chickens really don't likevery tall grass, so we use the
cattle as a lawnmower system andit's just this beautiful,
complex, dynamic ecosystem witha bunch of deer and birds and

(14:06):
coyotes and snakes and there'sso many pollinators out there
and we have resident bald eagleson the farm and it's like this
really.
You know, flourishing habitat,so it's been really fun.
How many years is that and didyou end up?

Speaker 1 (14:21):
buying that, or did you do it for his old potato
family?

Speaker 3 (14:25):
Did it for the potato family man, and that leads into
what's coming next for me andstuff that I'm focused on.
Next is just it's hard to doregenerative when it's on leased
land, because I just providedmillions of dollars of ecosystem
services that I paid for.
It's like wait, why am I payingfor this?

(14:47):
That doesn't really make a lotof sense, but in a lease model
that's just the way it goes.
So it was over the course ofabout seven or eight years.

Speaker 1 (14:56):
So you lease the land .
How does the pasture bird modelworks these days, like how do
you operate, how do you find theland, how do you integrate
within rotations of the farmsand farmers you work with, and
then we unpack the other stuffyou're working on, of course.

Speaker 3 (15:12):
Yeah, so there's probably two models or maybe
three models in operation now.
We've moved everything fromCalifornia to Georgia to help
with cost.
The cost of farming inCalifornia is just ridiculously
high.
I think it's probably on parwith some things you see in
Europe.
So we've moved everything toGeorgia where the cost is a lot

(15:32):
more competitive.
We have probably the model wherewe own the land, we own the
coops, we manage everything.
We call that like a companyfarm.
We also have more of like acontract farming model where we
would put our coops onto anotherfarmer's land and they would
manage the coops.
So there still are chickens,it's our feed, but they would
actually manage the coops ontheir land.

(15:54):
And so you could see like a rowcropping model where these guys
are integrating on, say, 100acres out of their 1000 acres of
row crop and they're putting itin just like a crop rotation,
where they'll put corn crop or asoybean crop into pasture for
three years, five years, they'llgraze the birds on it and then
they'll move it to another fieldlater on in a true rotation

(16:17):
with row crops.
Or a hay model which is prettypopular in Georgia, where
they're growing hay for cattleand they can actually stack the
poultry right onto that hayfield.
Both models are really cool.
I don't like have a preferencenecessarily on either one, but
they're definitely theseecosystem services model, where
you're getting a lot offertility from the monogastric

(16:38):
animals and then of course, weadd in the cattle as well.

Speaker 1 (16:41):
And you touched upon the feed before as well, like
how have you tried to make thatas circular, as regenerative as
possible?
And what are still excitingways to push that further?
Because, of course, as for,they're not ruminants, which
means they need input and manypeople forget that, like, the

(17:02):
feed part is very important,especially in these times as
well, with crazy prices.
Like what have you been doingthere to reduce that as much as
possible and not be sovulnerable?

Speaker 3 (17:12):
Yeah, try to be as transparent as possible and I'm
kind of the first one to say,like monogastric is so hard to
do regenerative, and I thinkthere's this misconception that
like we're right there with thecattle guys.
No, I would say cattle are muchfarther along on being truly
regenerative, like whole systemregenerative.
We're doing some reallyimportant regenerative stuff on

(17:33):
farm.
As far as the grains, you know,the best that we've kind of
gotten to is sourcing locally,trying to find farmers that are
doing cover crops and doing someno till, which is probably 25%
of our feed supply right now.
But we've had a long ways to gobefore I would call the system
kind of full scale regenerativebecause of the feed sourcing

(17:55):
piece.
There's a lot of room forimprovement still there.

Speaker 1 (18:01):
And then on the nutrient side, because you've
shared some very interestingdata on LinkedIn and other
places.
But you're also saying we'revery early.
Doesn't mean also those twosystems like hay versus the
other one?
Do you see differences there?
Or you're also saying, likemaybe a nutrient density, we are
super early still because wehave so much more space to go in
terms of different feed,different types, other quality,

(18:25):
etc.
Where do you feel we are?
Sorry, this is not a veryconcrete question.
Where do you feel we are interms of nutrient density,
because you have been quitevocal about it.

Speaker 3 (18:33):
Yeah, I mean I would say yes to everything that you
just asked.
Like, on the hay side, it'sunbelievable when you see where
the chickens have gone.
I mean you could see this darkgreen, lush strip of grass
behind where the chickens grazed.
And then, in addition to that,the partner that we are doing
the hay and poultry businesswith.

(18:53):
He was using synthetic chemicalfertilizer to grow his hay crop
before and he's been able tocompletely wean himself off of
the synthetic input and just usethe chickens to fertilize his
field.
And so it's like I don't know.
I don't have answers to exactlywhat that does for nutrient
density, but I can imagine whenyou wean off of chemical inputs

(19:13):
and you turn on naturals andbiologicals, like fresh chicken
manure spread in like a veryresponsible way, that's got to
do something for the nutrientdensity of that grass that
you're going to go back and feedto the cattle.
It also does a big service tohis bottom line because instead
of spending for chemicalfertilizer, we're paying him now

(19:34):
to raise poultry for us, soit's a big win for him
economically.
You know, on the nutrientdensity side, with the poultry
we have been able to study this,I would say, in depth, but
there's still a lot more to go.
So we worked with HRI labs andalso several other labs to look
at the difference of our chickencompared to like a barn raised
bird or organic bird or anoutdoor access or you know what

(19:58):
I call like fake pasture raisedchicken, which is getting pretty
popular here in the US Now andit's it's pretty astounding.
You know you talk about likeomega threes, vitamin A, vitamin
E, a lot of your micronutrients, supplement kind of stuff that
people would take it's.
It's shockingly higher between50% higher and sometimes 12
times higher in a lot of keyvitamins and micronutrients.

(20:21):
The hard thing with thenutrient density piece is how do
you convey that to consumers ina way that they understand and
it makes sense to them in aquick retail environment?
I think that's where I'm stilltrying to wrap my head around
how to how to really explainthat to people.

Speaker 1 (20:38):
You know yeah, because that will unpack that in
a bit.
But you're so where do thechickens go to?
In a sense, you're sellingretail, you're.
You say we grow millions ofbirds, so this is not a small
operation.
This is not you every Saturdayon a farmer's market or some
Facebook selling it to friends.
And so how did that happen?
And then it explains why youhave a few seconds in the

(21:02):
supermarket shelf and a bit ofpackaging to to explain that
incredibly complex story.
And let's get to.
How do you get in supermarkets?

Speaker 3 (21:10):
to begin with, we actually cut our teeth
originally in a direct, you know, delivery and farm pickup.
So back in 2012 to 2015, wewould organize meet up spots and
we would drive all overSouthern California hand
delivering.
I mean, we had chicken, beefpork, you know, wild fish, honey
, classic, sort of like CSAstyle model, and as great as

(21:34):
that was, and actually thatbusiness still exists today.
That's called primal pastures.
It's a business that we'rereally proud of and my family
still owns and operates.
It felt like if we wanted tohave a bigger impact, we needed
to focus on something that wethought we could do a good job
with.

Speaker 1 (21:48):
So we said all right, you're still selling to rich
people, yeah.

Speaker 3 (21:52):
Yeah, and we did this thing you know SWAT analysis.
So what can we do that nobodyelse can do?
We looked at our climate, welooked at land prices here in
Southern California, kind ofprocessing availability, and we
came back to all these reasonswhy we felt like we could really
make a dent with poultry and sowe started to really focus on
the poultry side.

(22:12):
We raised some money on thepoultry side and we went right
into the restaurant businessbecause we didn't understand
retail, we didn't have the moneyfor packaging and shelf space
and all these different things.
So we just started working witha bunch of really high-end
chefs around Southern Californiaand they loved the product.
We were able to do it at aprice where they could make it

(22:35):
work and we would go in, wewould hand deliver to the first
maybe 10 restaurants.
Then we started picking up somedistributors, more or less
because they got mad we weretaking some of their business,
and so these distributors camein and they said hey, let us
distribute your product.
That took us up to like I wouldsay like 3,000, almost 6,000
chickens per week, which is asizable I mean, that's already

(22:56):
the biggest pasturized chickenbusiness in the US 6,000
chickens per week.

Speaker 1 (23:00):
They loved it for flavor.
I can imagine they were allflavor.
That's what they searched for.

Speaker 3 (23:05):
You talk to a chef about nutrient density and
they'll literally fall asleepwhile you're in their office.
So it's like you only talkabout flavor and you demo the
product and story.
They care about the story andthe local piece and all that.
It was really a healthyrestaurant business for us up
until like 2019, 2020, when thewhole world pretty much took a

(23:27):
crap.
We always wanted to be inretail.
We always felt like ourcustomer is really in retail in
the mid to high-end grocery.
That's where they want to shopat, that's where they really
care about it.
So after the partnership withPurdue, that's what really
unlocked retail for us and we'vebeen probably 95% retail ever

(23:50):
since 2020.

Speaker 1 (23:52):
And Purdue came in.
There was an exit came inbecause of COVID.
That already happened before,or was it?
I mean, I'm not saying forced,but of course restaurants closed
.
But how did that come about?
Because there are not so manyexits we can look at, let's say,
in the region space.

Speaker 3 (24:10):
Now we're incredibly fortunate with our timing.
We closed the deal with Purduein November of 2019.
So it was just before the wholeworld went insane and I don't
know what would have happened ifthat would have been delayed
another three months.
I have a feeling we'd be havinga different conversation today.

(24:31):
The thing with Purdue reallystarted in 2015 when we raised
some angel groups and we wereout kind of doing these business
plan competitions and trying torefine our business model but
also win some grant money.
We had a group from a localangel organization as a judge
for one of those business plancompetitions that said, hey, you

(24:52):
really ought to come andpresent to our angel group, and
we felt like we weren't reallyready yet but we thought it
would be good practice.
So we went and we showed ourdeck to this group of maybe 100
angels and they were reallyinterested in what we were
talking about with scalingregenerative egg and scaling
this poultry model, and nobodyin the room had any egg

(25:14):
experience at all.
So it was more or less veryconfusing to them.
But we ended up with an offerfrom them about three months
later for a seed checkpre-revenue kind of seed check
and we ended up doing the dealwith them in 15.
And then I would say we neverreally got to a proper series A,

(25:36):
but it was seed, a little bitof seed plus a little bit of
debt financing.
I'm happy to go into more ofthat.
We probably raised like a totalof 2 million total, something
like that.

Speaker 1 (25:46):
Because there's quite a bit of working capital in the
berets and the coups and thetech.

Speaker 3 (25:50):
Yeah, it really is.

Speaker 1 (25:51):
On the field.

Speaker 3 (25:53):
In 2018, we realized that we're not going to have a
big impact as an independentpoultry company because we don't
have our own hatchery, we don'thave our own slaughterhouse, we
don't have our own trucks.
We're missing all of thesereally expensive, capital
intensive parts of the business.
So it'd be far more effectivefor us to try to partner with
somebody who has all that,rather than try to raise 50 to

(26:16):
100 million dollars and buildall that ourselves.

Speaker 1 (26:19):
Was it a difficult decision joining, let's say, one
of the big poultry companiesthat let's say, in many cases
that don't operate the way youdo or would like them to do.

Speaker 3 (26:30):
I think it was probably one of the hardest
decisions of my life the firstfour years of our business.
If you would ask me, I wouldsay Big Ag is the whole problem.
It's the devil.
I mean, everybody in there isbad.
I would have said only badthings about it.
As I got farther and fartherinto it, I think I came to the
realization that A people arepeople, so the people inside of

(26:55):
these organizations are actuallyprobably good-willed people
that mean well.
We may see the world a littlebit different, but I don't think
that they're inherently likeevil people or something like
that.
And B if we want to leave itbetter.
If these big ag companies aregenuine about wanting to do
things differently, we shouldwelcome the opportunity to help
them kind of shift, the kind oftack the boat, or tack the

(27:18):
Titanic, if you will.
And so when we got theopportunity to start talking to
Purdue in 2018, I was reallyskeptical.
I thought they were just tryingto steal our IP and probably go
out and fake it or something.

Speaker 1 (27:31):
But the better we got to know and that would have
been fake.

Speaker 3 (27:34):
Pastor Bird.
Yeah, and they easily couldhave done that.
To be honest, that's what a lotof companies are doing right
now.
It's sort of stationary houseswith outdoor access and they
call it Pastor Raise and theysay it's regenerative or civil
pastor or all this stuff.
And I thought there was a lotof honor in them coming to us
and asking us how we think aboutdoing this stuff at scale and

(27:55):
taking us seriously.
I thought that was pretty cool.
They also had led the industryby example.
So within the big ag space,Purdue was the first to remove
antibiotics full tilt.
They were the first to reallyenter the largest player in
certified organic in our country.
They had acquired Nyman Ranch,which is a really well respected

(28:17):
pork company that's well knownfor taking good care of their
farmers and producing somereally good pork.
It's not regenerative and it'snot Pastor Raise and they don't
pretend that it is, which Ireally respect, but they do some
amazing things on the Nymanside.
And then they also acquiredPanorama Grass-fed Meats, which
is a certified organic,grass-fed, grass-finished beef

(28:38):
outfit here in the Western US.
So because of all those thingsand getting to know their
objective team.

Speaker 1 (28:44):
So you called them, I mean, I mean you called the
Namans, you called the foundersof Panorama, just to understand
like, okay, looking back a fewyears, are you happy with this?

Speaker 3 (28:53):
Exactly, and that was like a it wasn't a check in the
box, it was like I really needto know have they taken good
care of this?
Have they stewarded it?
Well, you know, are any of theoriginal people still involved?
And sure enough, you know a lotof them were and I think that
that's probably speaks volumes.
A lot of times you see theseexits where the founders just
want to disappear and go up anddo their next thing.

(29:15):
You saw a lot of these earlytype of people still involved in
these business.
I thought that was prettymeaningful to me.

Speaker 1 (29:21):
So how, how is it changed?
I mean everything, probably,but how has it changed since
then?
Like, what has it meant for forPastor Bird, apart from the
fact that getting into retail ina time where retail was very
important.
But, like, describe the A and B, the before and after?

Speaker 3 (29:38):
Well, I'll start by saying what hasn't changed,
which I'm I'm really proud of.
The way that we're raising thebirds has only improved since
joining forces with Purdue.
So a lot of people will say, oh, how do you maintain your
integrity, how do you make surethey're not just going to take
it and dumb down your standardsand all that stuff?
We created a very, very simplepass or fail model for Pastor

(30:00):
Raise and that's that every birdhas to spend the majority of
its life on Pastor to be calledPastor Raise.
And we built this wholeprotocol around it where it
would be a violation of USDAprinciple for us to slap Pastor
Raise on something that was notactually living on Pastor for
most of its life.
It can't be 100% of its lifebecause chickens you know when

(30:21):
they're baby chicks, they needclimate control, they need
brooding and all that stuff.
So they can't be on Pastor forthe first couple of weeks, but
minimum 51% of their life,recorded every single flock.
We record by a flock calculatorand we mark every single day
that they're on Pastor or not,and if that's not the majority
of their life, that's fine.
It's just not going to be soldas Pastor Raise.

(30:43):
So I feel like that very clearblack and white standard has
helped us a lot within Purdue tomake sure everybody's on the
same page.
What has changed?
I would say retail has been anenormous learning curve for me.
It's been really cool to builda team.
It's been really interesting tobe part of this.

(31:05):
You know 100 year old, historicpoultry company where I can call
some of the best conventionalchicken people in the world and
I think the natural andregenerative and organic world
often shuns the kind ofconventional side and the
conventional side often shunsthe natural and regenerative
side.
And I think having this mutualrespect and, you know, having

(31:27):
some of these guys on speed dialwhere we can ask some of these
more complicated technicalquestions and actually they do
have a lot to add, especially insomething like brooding for us
Brewding is largely the samewhether you're doing it
conventionally or regeneratively.
You know, taking care of theselittle baby chicks for the first
couple of weeks that was thehardest part of our business,

(31:50):
like once you get them up, oldenough to be on pasture and
you're just moving them everyday.
To be honest, it gets a loteasier at that point.
So having these experts withinthe company that we can call on
a daily basis, is likeincredibly helpful.

Speaker 1 (32:02):
It's being spread out and down.
Yeah, so many more healthybirds out in pasture quicker,
etc.
Etc.

Speaker 3 (32:08):
Processing.
You know, the number oneproblem, as you know, with any
protein business is theprocessing side.
I always felt that we were onephone call away from being out
of business.
We had one processor.
You know, when we're anindependent poultry company.
If suddenly he decided hedidn't want to work with us
anymore or he felt like we weretoo big of a threat or a

(32:29):
competitor, it was one phonecall and we would have nowhere
to bring 6,000 birds a week.
That's an insanely risky placeto be with.
You know 20 families that workfor us and that's their sole
income and we're providing, youknow, payroll and all this stuff
.
So being part of the companythat owns the processing like
that's fully de-risk.

(32:50):
Now they're also one of thebest processors in the world.
Like they know what they'redoing on the processing side and
so being able to work withthese professionals, these
people that have been in theprocessing game for 35, 40 years
, that have really led thatspace, like that's a game
changer for us too and it'sallowed us to put out much

(33:10):
better products than we couldbefore.
You know.

Speaker 1 (33:14):
And what has been not so fun or what has been a
downside of doing this, apartfrom the critique.
For sure you're getting onsocial media, etc.
But what has been the biggestdownside?

Speaker 3 (33:25):
I should add one more positive.
I mean, obviously, the cost,right.
So Purdue owns their ownhatcheries, their own feed mills
, their own slaughterhouses,their own logistics trucks.
The amount of cost savings justfrom integrating, like over day
one, it was profound.
You know, something like justchicks alone we would pay $1.25,

(33:46):
$1.50 per baby chick.
That was cut, you know, by 80%on day one.
It's stuff like that.
That's like, and I'm gettingthe same quality, better quality
, probably from within Purdue,within our own hatcheries.
So, and multiply that byeverything else, it's profound.
What's not so fun?
It's a big company, you know,26,000 employees.

(34:09):
Nothing happens fast.
I think in a startupenvironment you can be very
nimble, you can move reallyquickly.
I could go out and raise moneywhen I wanted it.
Now it's a whole team to changethings.
It takes time to move theneedle to get capital, even from
within the company.
It's not an overnight thing,it's not just my decision

(34:31):
anymore.
It's like not at the end of theday.
We sold this to another company, so it's their thing now is I'm
still super passionate about it, but it's not my sole decision
at the end of the day, andthat's good and bad.
To be honest, I don't thinkthat's all bad, but that's been
very different, you know.

Speaker 1 (34:53):
And so what's next?
I mean you're working on aproject, but for past year like
what are big odd and otherthings?
I see some tech updates everynow and then on LinkedIn.
I definitely recommendfollowing the updates, but what
are big breakthroughs happeningat the moment, or things you're
excited about in the past year,is bird space.

Speaker 3 (35:13):
So in 2018, we started developing the automated
range coop.
That's our 6,000 bird systemthat moves chickens autonomously
to fresh pasture every day.
That was really a play towardsscale so that we could build
this template that we canhopefully take to millions of
chickens a week.
Our goal has always been 1million chickens a week, and I

(35:35):
really think the market's farbigger than that, so I think it
can go well beyond.
There's 9 billion chickensharvested in the US for meat
every year.
That's just in the US.
I think that number is 60billion worldwide.

Speaker 1 (35:48):
I said because how has the market responded, Like
on retail et cetera.
How have people picked up thisnew slash, new thing?
How has the response been fromconsumers in the middle to
higher end range, what youmentioned?

Speaker 3 (36:04):
It's on fire.
We're so sold out.
At the moment.
Consumers are understanding itand wanting it.
As much as I sit back here andI bitch about fake pasture
raised and all the stuff that'sgoing on.

Speaker 1 (36:19):
Who needs that explanation of nutrient density
et cetera?
People get it Flavor.

Speaker 3 (36:25):
I think so, but it's also.
We're in medium to high endright now and we're not going to
be able to play there foreverif we want to put up the numbers
that I think are possible.
You were selling to earlyadopters right now that are
already thinking about all thisstuff.
Luckily, pasture raised eggshave sort of paved a path before
us, and there's at least abillion dollars sold in pasture

(36:48):
raised eggs in the US right now.
How legit those are, that's upfor debate.
Probably People think thatthey're buying pasture raised
eggs and so, as a proxy pastureraised chicken, it has not been
very hard to sell so far.
What's next for us is just more.

Speaker 1 (37:04):
Sorry.
To get back to the automation,the automation piece 2018, you
start working on this massivething that moves by itself, with
6,000 chicks in it, and are yougetting there?

Speaker 3 (37:17):
Yeah, very live.
Like any tech, the first coupleof years the jumps were so big
each six months we were vastlyimproving the system.
Now we're five years in and thetweaks that we make are very
small.
What our system looks like,what we're constructing today
compared to two years ago, is itlooks almost identical, which

(37:40):
means that I think that we'recoming up to an efficient system
and it's ready to scale.

Speaker 1 (37:46):
Because before you basically used a tractor or some
machinery to move them that'sthe beautiful line on your
website and they all get movedonce a day.
One shot there, next to eachother, not touching each other,
obviously but there's an heavymachinery used to these are not
the gelatin-style pens where youcan just move them by yourself.
Obviously, you need somemachinery and that's the part

(38:07):
you've automated now.

Speaker 3 (38:08):
Yeah, and then also gone.
So we started in the 100 birdsystem salatin system, hand pull
, moved to the 600 bird system,tractor pull, which was like a
greenhouse on skids.
Then we moved up to the 6,000bird system that has its own 26
electric motors that drivesitself to a new spot every day.
That's more than just having todrive a tractor out there,

(38:29):
which is time consuming andannoying.
It's a compaction on the fieldbut it's just so much more
efficient to push a button or tohave a timer move these birds
automatically.
We can move them a lot slower.
That's a huge advantage.
We can put in automated feeding, automated watering, automated
climate control, because you'respreading those costs over 6,000

(38:49):
birds as opposed to 600.
So it looks much more like aconventional poultry house, just
on wheels, that moves itselfevery day.
So I think we've taken a lot ofcues from the very smart people
in conventional poultry.
Try to take all the good stufffrom their system and
essentially mobilize it to whereit can move, to move itself to
fresh pasture every day.

(39:11):
It kind of try to take the bestfrom both worlds.
Now we have a system that Ithink is really scalable and it
can be deployed, to be honest,all over the world, although
we're like hyper focused in theus right now, um, and so I think
the next five years will looklike us deploying capital, um,
taking down, you know, hundreds,if not thousands of acres at a

(39:32):
time and and develop thispoultry system.
So it'll honestly look likemuch of the same for the next
five years expanding into retail, probably developing some some
food service business, butreally focused on 60 to 80
percent of our business beingbreaking into um aligned retail
partners that already have thecustomer that's looking for this

(39:54):
, like.
I don't think educating thecustomer on what we do is a very
smart thing, um, from, like, acapital perspective.
So you want to find people thatalready understand what we're
doing and they're alreadylooking for it, you know and on
the feed side, are you dreamingabout anything's there?

Speaker 1 (40:14):
are you working on anything to to make it more
regenerative?
What are, or is that today justtoo complex?

Speaker 3 (40:23):
no 100.
It's another thing where I'mproud of our partnership
produced, so they are reallylooking to lead within the feed
side as well.
Half of their business isactually in the grain side, so
corn, soybean, wheat, sunflower,and they put up a lot of
acreage.
They have over a million acresum under impact and they're
largest organic in the country.

(40:44):
So shifting from organic toregenerative is not integrating
some changes yeah, 100.
A lot of these guys are alreadydoing cover crops.
A lot of them are already doing, you know, rotations,
integrating with animals.
I don't see as much.
That's an area I really want tosee expanded.
Um, no, till is really popularin the southeast already, so try

(41:06):
and explain that in a in C,more that being done.
That's definitely on the.
I'm not going to say dreams,I'm going to say on, like the
action items list for us.

Speaker 1 (41:15):
Yeah, and then what?
What kind of pushback do youget?
Do you get it from the regionspace, as this is not region
enough.
Do you get it from, um, maybealso the plant based and and
another space?
What's the main, main pushbackyou get when you're loud on
linkedin?

Speaker 3 (41:34):
let's say, what I've been surprised about is I've
gotten very little pushback onthis sort of like partnering
with big ag.
I think anybody who's been inthis space for a little bit
realizes how actually criticalit is that those of us in the
grassroots regenerative space,if we get the chance to help big

(41:55):
ag move the needle, that weprobably should do it.
And if you've been in the gamefor more than like five years, I
find very few people saying, oh, that's a terrible move, you
shouldn't have done that, yousold your soul.
I think that there were some ofthose comments initially and
now that I've been helping themfor three and a half years and
I'm really proud of what we'redoing and we've been very
transparent about what oursystems look like, I hear very

(42:17):
little pushback.
The plant based space I meangood luck pushing back, you know
.
I kind of say like, likeeverybody's seen all the holes
in those systems and theauthentic folks within there are
willing to admit theirshortcomings.
With the monocrops and with the, you know, hardcore kind of
processed food side, theauthentic people within there, I

(42:39):
think, see a future whereplants and animals are in a
symbiotic relationship andhelping each other out.
So I don't see as much pushbackthere.
Maybe the pushback is.
I feel the need to call out alot of the greenwashing that I
see and I hate to do it.
It's not really my personalityto be like divisive in that way,

(42:59):
but I do think the one thingthat will end this regenerative
movement faster than anythingelse is the kind of
preponderance of a bunch ofgreenwashing.
And when, when consumersrealize that half of what's
called regenerative is probablybullshit and just marketing, it
seeds a lot of distrust and alot of skepticism within

(43:20):
consumers mind and I just Ireally feel the need to call it
out when I see it and a lot ofpeople don't like that, you know
now, absolutely.

Speaker 1 (43:30):
And then what do you see?
I mean, you had a successfulexit and and what would you say
we?
I often like to ask thisquestion and to imagine, let's
say, we're in the theater andthe room is full of of financial
world people either investingtheir own money or other
people's money.
What would you tell themobviously without giving
investment advice, but wherewould you tell them to?

(43:52):
To walk out of the room afterthe evening and and go dig a bit
deeper or go and talk to that,or go and look there or go and
explore this part of the sectormore.
And let's say, they get, theyget out of the room excited, and
then let's give them somedirection.
What would you tell them?

Speaker 3 (44:08):
I mean I'm writing my own checks in the space now
with my own money, so I'll tellyou how I'm evaluating deals for
myself.
You know, um an over kind ofobsession with philanthropic,
slow, patient capital.
I actually don't know that it'sthat helpful for the space.
I think being able to evaluatebusinesses on sound fundamentals

(44:32):
, um, I think I think it'sactually very healthy, like
traditional evaluation of thebusiness model, the grit of the
founder kind of mission, butalso just digging into the
balance sheet, the p&l and thecash flows, like understanding
these businesses, is reallyimportant.
I do think, after being insideof a large agribusiness for the

(44:54):
last, like almost you know, fouryears now it's near and I love
Purdue, like I really enjoyworking for them, but I think
it's near impossible for some ofthese big companies to innovate
and create brands and createmeaningful strategies to do
regenerative in-house, and so aslong as the consumer is

(45:15):
demanding regenerative andthey're demanding kind of
something new, I think there'sgoing to be a plethora of
opportunities for exit withsolid, sound companies that are
doing something really uniqueand different.
To work with some of thesebigger companies because I don't
think that they can developthis stuff internally, they're
going to have to acquire it andbuy it from the outside and to

(45:37):
buy these talented teams, butit's largely comes back to
consumer demand.
You know, and that's why thegreenwashing stuff really scares
me and I think unwise investors, unsophisticated investors,
they're going to be tempted intothe deals where the founders
are saying all the right thingsand they're talking about
regenerative this and that andthey're actually not doing
anything that unique and you canget suckered into essentially

(46:00):
investing in conventional agrebranded and the problem with
that is the big ag companies aregoing to see right through that
they're not going to want toacquire those businesses.
So it's like having this radarfor greenwashing is super
important for for investment andbasically it sounds like a

(46:21):
common friend of ours, anthonyCoursaros.

Speaker 1 (46:22):
Regen Brands focus like this this is a big space
and it's going to be only bigger.
And coming back to that pointof the neutral density side and
explaining or the storytellingor the sharing that piece with
consumers, I feel like brandsare uniquely positioned to do
that.
How, if you approach that asone of the very few retail or,

(46:46):
let's say, accessible in manyretail places brands that is
explicit about soil andregeneration?
How has been that journey oneducating between brackets,
because it's always weird, thiseducating consumer?
or you said look, we're focusingon the early adopter.
They don't need any education.
We'll get there when we getthere it's a really good

(47:07):
question.

Speaker 3 (47:08):
I think we've taken the approach that we shouldn't
rely on any third partycertifications for anything, and
so there's all these great,great things, and I love lanta
market.
I think what they're doing isamazing, but I've not relied on
them like we partner with them,but they don't go on pack.
They don't go on our list ofwhat you mean rely on them.

(47:30):
It's the stamp on the packagingyeah, I think these
certifications, third partyapprovals, verifications, all
these third party things, wefeel like we just need to tell
our own story directly to ourcustomers.
That happens on social media,it happens on you know, on our
own website.
It happens a tiny bit on pack,but you can only do a little bit

(47:50):
on pack and I see a lot ofspace and brands that just list
you know 20 third partycertifications and it's like
they lose.
They lose their impact when you, when you list out a million of
them I remember what was it?

Speaker 1 (48:03):
any any said like soil matters or something, but
that's a long time ago.
Yeah, like, what do you say inthat tiny space you have?

Speaker 3 (48:11):
I hate that, the packaging pieces, as important
as it is.
But going into retail, it'ssomething that I've learned it,
um, you know, we work with pearlfisher, which is just this
amazing graphic design companyout of new york and I think
visually being able to tell thisstory through iconography and
font and, um, in colors and inall these like artistic things,

(48:33):
I didn't want to admit howimportant it actually is.
But, dude, it's probably fiftypercent of the game.

Speaker 1 (48:38):
Like it's fifty percent you really enjoyed those
meetings in the beginningpainful dude like really we're
gonna deal with?

Speaker 3 (48:46):
What direction the chickens head is looking on the
pack like why does that matter?
But I've learned that Evokingis way more important than than
explicitly saying and be able tocatch somebody's eye and help
him to understand a concept inthe two, three seconds that you
have in retail.
It's so critical and so I'mreally glad that we work with

(49:07):
profisher and I think they did agreat job on our brand.
And you immediately look atthat package and you think, okay
, this is a something different.
I don't know what it is yet,but I know it's something
different.
On our pack, instead of sayingFree range and organic and all
the terms that you're used to,you see a rotated daily and
mobile coups as our headline Twothings.

(49:28):
Nobody knows what that means,so it's like this huge risk that
we took stepping out.
You see very few third partycertifications, so right away
you go wait what?
What is going on right here?
And I think we do sell to earlydoctors, probably sell to
people have a bit of a sense ofwhat's going on.
But at the same time we had tostep way outside of the normal

(49:49):
chicken marketing stuff toexplain how we're different, you
know.

Speaker 1 (49:55):
And coming to that connection healthy, so healthy
chicken, healthy people, andwhat do you feel is missing
there?
You've shared the data, ofcourse, in inside the bubble and
linkedin, and but what?
What's the role of brands there?
Maybe there isn't to startexplaining that, or is it?
Look, flavor is is a good proxyof an often you can density, so

(50:20):
let's not complicate our lives.

Speaker 3 (50:27):
Where we say like, yeah, well, all we're really
doing is posting the stuff onour website.
Social media and even linkedinfor me, has been Surprisingly
you know the reaches likesurprising.
There's millions of impressionsmade monthly between those
three channels.
So between like, our facebook,instagram, linkedin and our
website, it's millions ofimpressions made every month and

(50:51):
so it doesn't sound like a bigdeal to be posting the stuff
constantly and sharing it there,but it's actually, I mean, and
we're showing it to Byers andearly adopters and people that
really care about this stuff.
So I think that that actuallyis our strategy, even though it
doesn't sound like a completestrategy, probably is our
strategy right now showing themthese more complicated new

(51:11):
stories and then also like,really leading with transparency
.
You can go on our package, onour qr code on pack will take
you to either live feed frominside of our chicken coop,
which is no bs.
I mean, it's not a marketingshot, it's not one of our
special Coops for tours orsomething.
We just put an iphone running alive feed inside of the coop.

(51:34):
You know, twenty four, seven,one day a week, and it's not
always what people think they'relike.
Sometimes people like, oh, wow,that's a lot more birds In a
space that I thought it wasgonna be.
I didn't realize they have aroof over their head and they
don't have sunshine hitting themtwenty four hours a day.
You know, there's always likeSort of harder new on stories

(51:54):
but we always just say it's thescrew it marketing approach.
I'd rather have you see exactlywhat we're doing, exactly how
we're doing it, then be misledby some stupid photo shoot that
we wanted to Take some birds andstick them outside and take.
You know these like fakeglamour shots of the chickens or
something.
So I think the transparencypieces really resonating with

(52:15):
people you love it and you'regonna buy our birds.
Are you hate it?
You're not gonna buy it.
So I kind of like thattransparency piece that we've
been able to lead with as well.

Speaker 1 (52:25):
yeah, and I wanna be conscious of your time and ask
if you quick work depending,quick final questions and what I
mean.
You mentioned your, yourwriting your checks in in the
space as well.
And let's say you you'reactually managing a slightly
larger portfolio or slightlylarger investment amount of $8
billion dollars.
What would you focus on?

(52:46):
Would it be the protein side?
Automation side, brand side arecompletely different.
If you had not saying unlimitedresources, but like a
significant amount to put towork, nothing is exact dollar
amount, just looking where wouldyou prioritize?
What would be the sector shewould focus on?

Speaker 3 (53:02):
It depends what the, what the money's appetite was
for, like risk and return.
You know family office money Iwould only fully flexible.
Patient capital would love toown ground.
You know, ground in waterthat's being managed generally.
I think that that'sunbelievable long term
investment.
It's not gonna get the 10xReturn like a vcs gonna need,

(53:23):
you know.
But if it's slow patientcapital just think land being
managed with equity stake.
For these really Hi pro fivenot pro five but high power
regenerative managers I thinkthat's gonna be unbelievable
twenty year investment, you know, building soil health,
producing good returns, ahealthy model for land

(53:45):
management.
I would love to deploy a bunchof capital Under that type of
management for the moretraditional like ten year time
horizon kind of 10x targetventure capital stuff.
I'm really passionate about thebiomemetry technology.
So tech that looks to nature asthe lead and then tries to

(54:05):
replicate that like a morescalable way, that's what's
really really interesting to me.
Brands are also reallyinteresting.
I'm writing, I'm an investor inwhite leaf provisions.
I think what they're doing likeon the sourcing side, in the,
in the product side, is reallyreally unique and special.
You know, I think I think thatthey've got A lot of potential

(54:27):
to grow.
But I think tech is superinteresting when it's Look at
nature is the template.
Now how do we replicate whatnature is doing.
I mean, I feel like that's allwe did with past your bird.
In nature, animals move.
How do we get chickens to move?
Because right now there is nosolution to move a bunch of
chickens efficiently.
Vents, you know, some of theselike automated kind of techs for

(54:52):
moving cattle.
Anything that looks to natureis the solution, and figure out
how to replicate that.
I think that's superinteresting and it will probably
have as good of a chance of anyis Kind of these really high,
solid, high returns.

Speaker 1 (55:08):
And then, as a final question, if you had a magic
wand and you could change onething overnight, I have an idea
what could be, but I will giveyou the complete power.
One thing only, so really onething.
But what would it be?
In the food and egg or thebroader system, change in terms
of sustainability, regeneration.
But if you had a magic wand,what would you change?

Speaker 3 (55:30):
I'll be surprised if you're able to guess it, but
maybe you will be able to.
I would end the grain subsidies, would just cancel them, like
today.
I think it would be or phaseamount over a very short period.
I think that they skew so muchof the ag that happens in our

(55:50):
country.
I'm not an ag economist, I'mnot like classically trained in
that space and I know it wouldcome with a significant amount
of short term pain.
But where corn and beans areplanted where I think cattle
should be grazing, the fake lowprice of chicken and pork in our
country, the the almostnecessity to finish cattle in a

(56:14):
feed lot on corn and soybeans, Ithink it all.
I guess it goes away, but Ithink it's vastly improved with
true pricing for grains andright now is it completely fake
price that happens for grain inour country.
Totally bastardize is so manydecisions that are made.

(56:35):
I think I think millions ofacres of corn and beans would go
back into prairie and back intopasture land If prices were
real and I'm a major free marketguy.
I don't like this kind of ideaof like salvation by legislation
and the government needs to fixthis and that.
But I do think Pulling backsome of these ridiculous
policies and incentivize badbehavior.

(56:56):
It would go a long way.

Speaker 1 (56:58):
I think it's a perfect and to it's.
I would have guessed it wassomething about make sure
animals that have to move move,but this is sort of enables that
, and it's not the first timepeople have mentioned it here.
I want to be conscious of yourtime and thank you so much for
sharing.
Today feels like we literally,as a chicken, just got your
service and but there might beother moments, so thank you so

(57:22):
much.
What you do and what you havedone, and, of course, we're
coming here to share about.

Speaker 3 (57:27):
Thank you call.
It's been a pleasure, man.
Thank you.

Speaker 1 (57:33):
Thank you so much for listening all the way to the
end.
For the show notes and links wediscussed in this episode,
check out our website investingin regender agriculture dot com.
Forward slash posts.

Speaker 2 (57:44):
If you like this episode, why not share it with a
friend or give us a rating onapple podcast?
That really helps.

Speaker 1 (57:49):
Thanks again and see you next time.

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243 Paul Greive – How the biggest exit in regeneration led to millions of more chickens on pasture

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}243 Paul Greive – How the biggest exit in regeneration led to millions of more chickens on pasture