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The Spoon

Daily news and analysis about the food tech revolution

Deep Dives

The Ghost Kitchen Deep Dive Sessions

The ghost kitchen, which had already an emerging trend prior to the pandemic, has fast become one of the most talked-about concepts in the restaurant business in 2020. Industry players ranging from well-established chains to food delivery specialists to new ghost kitchen operators are experimenting with new ghost kitchen and virtual restaurant models.

To explore the implications of these changes and hear from those pioneering these businesses, The Spoon held a day-long event discussing business models, operational strategies and lessons learned called the Ghost Kitchen Deep Dive. We talked about virtual restaurants, ghost kitchen operations and even took a tour of a next-generation ghost kitchen, delivery and take-out hub built in Boise, Idaho.

Speakers featured in these deep dive conversations include:

 

Below are the sessions from the Ghost Kitchen Deep Dive. If you are a Spoon Plus subscriber, you can watch these in full. If you would like to access these sessions, you can subscribe to Spoon Plus here.

An AWS For Protein? Scaling Bio-Manufacturing Platforms To Build Out The Next Generation of Food

But if you want to making a next-gen protein, there’s a good chance you’re going to have to raise millions of dollars in venture funding to build out your own bio-manufacturing factory.

Why? In large part because the platforms for creating fermented or cultured food products products at scale haven’t existed to the same degree that as in other spaces.

However, according to FTW Ventures lead investor Brian Frank, that may soon change. Like me, Frank comes from the world of computer tech where so many startups from the past two decades were built upon the terra firma of technology platforms in cloud computing (AWS), mobile apps (Apple) and social media (Facebook).

So, naturally, when we sat down recently to talk about the launch of his recent fund, I wanted to ask him about who are the platform builders in the world of alt-protein.

He said they are coming.

“In the bio-manufacturing space, we have had that for pharma and therapeutics, we’ve had co-manufacturing, but for food, it really hasn’t existed. And so we’re now getting to the stage where if I’m Perfect Day, and the reason that I raise a ton of money is because I need to build up my own factory because no one’s offering me services or capabilities to build this on top of their platform.

“However, the future that we see is that you can create a platform where people can ride on top of your technology, or you can create the way to allow people to make designer goods so that things can be tailored towards a specific need,” Frank said.

Frank sees these new platforms serving as a couple different roles, the first of which is in accelerating design. Much in the same way a processor design company like ARM Holdings helped an entire industry of computing companies build semiconductors around their intellectual property, new companies with IP and design expertise in key pillars of future food can be used to accelerate design in new ways.

Frank gave Geltor – a company in which he was an early investor – as an example around which a company can leverage in designing new core food components rather than starting from scratch.

“The idea of Geltor as a platform is the idea that they can make proteins, collagen and gelatin to service any number of different needs because they’ve shown they can do it for a couple different categories: in cosmetics, in nutraceuticals, and very soon, you know, in food,” Frank said.

He also pointed to a second group of companies that are starting to serve as infrastructure platforms that new food innovators can leverage as they look bring their products to market at scale. He gave Culture Biosciences – one of the Spoon’s Food Tech 25 for 2020 – as an example.

“Culture Biosciences is basically building out multiplex strain (yeast or bacteria) development rigs that are automated and analyzed,” said Frank. And so if I have a specific need of a strain to do X, they can multiplex and run a bunch of different tests to find the stream that works best. And then they can hand that back to you and say, Here you go, here’s that stream that you wanted that does x and does x at the highest volume or rate.”

Frank and I talked about a whole host of other topics, including the evolution of the future protein space into three areas of innovation, as well as the innovation happening in food packaging. If you’d like to see my entire interview with Frank, Spoon Plus subscribers can just click below. If you’d like to learn more about Spoon Plus, just go here.

Human Improvement Founders Want to Make Cricket Protein Palatable for Masses

McCarty points to rapid attitude shifts towards cannabis (McCarty and Campbell were executives at cannabis startup Dosist prior to HI) in recent years and think a similar shift could be coming for crickets. In cannabis, “you’re seeing a massive of stigma shift that I’ve never seen having anything in that space, at that scale, and that speed,” said McCarty.

How do you get a similar stigma shift with insects? According to McCarty, much of it will have to do with marketing.

“I’m always amazed that marketing is driving people to make bad decisions,” said McCarty. “Being ethical and responsible people, shouldn’t we be driving people to make good decisions with marketing?”

Part of that marketing and messaging has a lot to do with how the product looks. HI’s sleek and colorful packaging is a departure from the typical big tubs of protein powder found on store shelves in the health and wellness aisle. And while the packaging doesn’t scream crickets, the founders also wanted to be very clear about the ingredients list on the food label.

According to Campbell, all of this was intentional.

He notes the HI’s packaging “jumps off the shelf” and is designed to “steal [market]share from underperforming products” currently out there. Speaking of reactions to the product, he adds that the company has received everything from, “Oh my goodness, someone’s finally got it right” to “You guys have got to be crazy, no one’s ever going to buy this” and everything in between. “We’re far more impressed with the positive response we’ve had,” says Campbell.

But still, why did two executives who spent their lives at companies like Starbucks and the fast-growing cannabis space decide on crickets?

According to Campbell, the idea came in spring of 2019 when he was working with an innovation lab and looking at other alt proteins. Around that time, he started looking for the most nutrient-dense protein out there that also had a good environmental footprint.

The answer he got back: “We’ve known for thousands of years, it’s insects.”

And now, HI’s protein powder can be found in numerous grocery stores and through Amazon and the company’s website. The company has also managed to bring the product to market without raising any venture funding.

“So we’ve kept it very lean from the start, unlike a lot of companies we see in the space that go and raise millions of dollars of venture financing, have huge teams and beautiful offices,” said Campbell. “We said, ‘Let’s make sure we’ve got a product that consumers love, first and foremost, and then once we’ve got that, then let’s invest behind and build that.’ So we’ve been very diligent about our process to date.”

Spoon Plus subscribers can listen to my entire interview with Josh Campbell and Derek McCarty below. If you’re interested in subscribing to Plus, you can learn more here.

SideChef’s Kevin Yu on the Future of the Kitchen in a Time of Unprecedented Change

He ran a company called SideChef, which made a recipe app, while it was early days for connected appliances and step-by-step guided cooking, Yu was already looking for opportunities to take his recipe app and use it as a central command system for appliances.

It was just six months later Yu was on stage at the first Smart Kitchen Summit talking about how this future we discussed in Austin.

Since that time, much of what we talked about in those early days in Austin has materialized: appliance manufacturers have added connectivity and SideChef has struck deals with many of them to integrate its content and technology. They’ve created their recipe format that atomizes the cooking process and allows for them to launch things like their shoppable recipe integrations.

So in a year with so much change, I thought it would be good to once again catch up with Kevin and his US manager director Carolyn Eschbach to get a read from the front lines of the connected kitchen. We talk about the company’s Facebook Portal integration and the launch of their Premium offering, as well as the rapid changes in consumer behavior. We also talk about how the current state of the connected kitchen.

Subscribers of Spoon Plus can see the full interview below. To learn more about Spoon Plus, click here.

Restaurant Tech Roundtable: Reinventing The Back of House With Digital Technology

In this panel session, you’ll hear insights how how everyone from small operators to the country’s biggest QSR chains are using technology to improve operations, make their kitchens safer and to help roll out new menus in real-time.

Here are Jenn Marston’s take-aways from session:

More automation. Back of house automation isn’t just about robots making burgers. It has much more to do with digitizing operational processes to make them more efficient. That could mean a robotic arm doing manual tasks. But it could also mean using tech to replace paper-and-pen accounting books or taking a better, more granular analysis of food inventory to cut down costs.

More operational efficiency. Related to automation, the back of house will become more about making operational processes faster and more efficient. One of the panelists went as far as to say efficiency is the biggest thing for restaurants to get right. That’s especially true with fewer people eating in dining rooms and instead ordering takeout or delivery meals that are constantly evaluated for convenience and speed in addition to quality.

More transparency. The pandemic has arguably brought a greater desire for transparency when it comes to our restaurant food, and tech-savvy companies will respond with a variety of solutions. That could include installing software in a restaurant that can tell a customer exactly where their order is at any given moment (e.g., “on the grill,” “out for delivery”) or a tool that better informs them of a restaurant system’s security measures.

Spoon Plus Subscribers can watch the full session below. If you’d like to subscribe to Spoon Plus, you can learn more here.

How CRISPR Could Create Produce That Lasts Longer, Tastes Better, and Won’t Make Pickers Bleed

Pairwise is one of the companies making a name for itself developing new types of products using CRISPR. The company is developing consumer-facing brands of produce that offer unique characteristics created through the use of CRISPR toolsets.

I caught up the CEO of Pairwise, Tom Adams, to discuss what the company is working on and to get his thoughts on how CRISPR will change the food system. Below are some excerpts from my interview. Spoon Plus subscribers can watch the interview and read the full, unedited transcript.

What are some examples of these types of CRISPR products with direct consumer benefits?

So a product that we’re interested in, sort of it’s a longer term product, is to create a cherry without a pit. You can imagine being able to just pop a cherry in your mouth and really enjoy that healthy, healthy fruit. Cherries are in season right now. They’re great, but I keep ending up with purple fingers from eating them all. I’d love to be able to just pop them over my mouth and eat them like grape. So that’s the kind of thing where we’re taking it down the barrier so that a consumer can really enjoy the cherry differently.

Now we’ll do other things that help with the overall production system. One of our ideas with cherries is to make it so you can produce cherries year round like we’ve done through 60 years of breeding with blueberries. We now have blueberries every day and I didn’t use to get blueberries every day but now I do.

How could CRISPR could accelerate the development of new forms of produce compared with traditional cross-breeding of crops?

There actually is a pitless plum that somebody isolated a few years ago. It’s not a good tasting plum, so it’s not a variety that sold. But you can cross plums and cherries, and you get chums or clerries or something. It’s not a cherry or a plum anymore. The Bing cherry was bred in 1880 and Bing cherry since then is a clone of that original tree. So if you cross them, that’s not a Bing cherry anymore.

You want to get back to the Bing cherry, you’d cross the chum back to the cherry probably 7 or 8 or 9 times until you get a little bit more cherry genome in it each time until you’re almost cherry again. That’s probably 150 years from now you’d have a pitless cherry. But with gene editing, I know what the mutation is that really resulted in the loss of the pits, so I can just go directly into the cherry and make that mutation. It’s the same endpoint that I would have gotten to through the breeding. It’s just 150 years faster.

One thing you’re working on is berries. Can you tell us more?

The blackberries I buy in the grocery store, I could take or leave. And that’s because they’re the variety that had some mutations in it that allow it to be more productive through the season. This mutation just happens to be in a variety that just doesn’t taste good. It’s very high acid. It’s not a really great berry. So we’re taking berries that taste like the ones in the Northwest and we’re putting in the same mutations that you’d see on the bad tasting ones that allow for higher productivity, and adding those to the really good tasting one. And then, just for good measure, we’re also going to get rid of the seeds. It turns out that 85% of people don’t really like the seeds in blackberries from our research. And it’s a fairly straightforward path to do that and then remove the thorns as well, so pickers aren’t bleeding.

What impact could CRISPR have on food in a decade?

10 years from now, what I’d like to picture is a lot of produce that not just that has gene editing in it, but is actually more approachable for people. We all grow up being told and taught that we should eat lots of fruits and vegetables, but only 9% of people in the United States eat the recommended amounts of fruits and vegetables. And given 5% are vegetarians, that doesn’t speak real well for the rest of us. So I want to see a variety of things that are more approachable for people.

You mentioned food waste. I think there’s an opportunity to make a substantial difference in shelf life. So when I go into a convenience store, it’s not a choice between a hot dog and a rotten banana. I can get a bowl of berries or something healthy like that as a snack and or pitless cherries. So that’s really our vision is to create a whole different marketplace of foods that fit people’s lifestyles. We eat a lot more food through snacking today than we did 50 years ago and we need to match our food up with that.

To watch the full interview of our interview with Tom Adams or to read the full transcript, just subscribe to Spoon Plus. 

StoreBound’s Evan Dash Wants to Create a Housewares Brand for a New Generation

“Breville was doing incredibly well,” said Dash. “They were still fairly new. And a lot of brands were chasing them to the high end. And then you had this whole like lower end, that was just in shambles, fighting over price, price price.”

While Dash didn’t want to necessarily compete with Breville or fight over tiny margins in a brutal price competition, he saw an opportunity in between the two.

“It really left this beautiful gap in the middle that we felt like we could step into with great design, great quality, great value, and a social media strategy.”

Ten years later, he and his wife sold the company they had built after growing their revenue to $100 million by focusing on that neglected middle space with their flagship namesake brand, Dash.

While the terms of the sale to French consumer goods conglomerate Groupe SEB were not announced, a conservative revenue multiple of 3-5 times sales would easily put the acquisition within the half a billion dollar territory, which would put the deal possibly higher valuation than that of the Anova acquisition by Electrolux (but well below the Instant Brands $2 billion estimated deal size).

So how did Dash go from an idea to $100 million company in a decade? According to Evan Dash, it was in large part thanks to their focus on young consumers who didn’t feel any loyalty to the brands their parents had brought into the home.

“While everybody talks about how the ‘millennials are up and coming, but they really don’t have the money to spend,’ they absolutely do”, said Dash. “And they are so influential, they’re influencing their parents generation, even their grandparents generation and a lot of cases.”

A big part of attracting the attention of those customers was through the use of social media, primarily Instagram. According to Dash, that early emphasis on Instagram was influenced by his own kids.

“They were showing the way that they could build momentum,” said Dash. “And one of them had a sports page, and he was editing jerseys of doing jersey swaps of players. And he had 10,000 followers.”

Beyond speaking to younger consumers through social media, much of the focus by Dash was creating products that not only looked different than those he and Rachel had grown up with, but were designed to be more user-centric.

“We tended to look at products with fresh eyes,” said Dash. “For example, we launched a two slice toaster early on and my head designer for toasters came to me and they said, ‘Hey, Cuisinart has one through six on their control, and KitchenAid has one through seven on their control. Can we just say light, medium, dark, defrost and keep warm?’

Armed with the resources of a company like Groupe SEB, Dash doesn’t have any plans to slow down. The company will expand into products that focus on circular economy, and Dash also hinted at plans for bigger products like refrigerators.

Spoon Plus subscribers can read the full transcript of my interview with Dash or watch the full interview below. If you’d like to learn more about Spoon Plus, you can do so here.

How To Take Your Food DTC During a Pandemic

For Jeremiah Kreisberg and his company Slow Up, this became a harsh reality when in March when the world shut down. The company sold its fresh snack bars through food service channels and so when everyone started working from home due to COVID-19, Kreisberg had to spin up a direct to consumer channel and fast.

But just putting up an e-commerce website wasn’t enough. Not only did the company need to find a way to sell online, but their fresh food product had a limited shelf life and required cold chain delivery.

For Vanessa Pham and Omsom, their COVID-19 related challenges were of a different sort. She and her sister had spent the last year preparing to launch a new consumer food brand targeted at early adopter Asian American’s aged 25 to 40, but when the world changed almost overnight, it was natural to wonder if they should wait.

They didn’t and, as it turns out, it was a savvy move. Their lineup of shelf-stable Asian food starters sold out almost immediately and now the company is planning new flavors and products as they eye the future.

I had a chance to talk with both Pham and Kreisberg in a recent Spoon Plus virtual event, “Building a Direct to Consumer Food Business In a Post-Pandemic World.” During the hour long sessions, the two CPG entrepreneurs shared insights on:

  • How to build a community of dedicated customers
  • The importance of communicating and reinforcing the brand’s values to its community
  • How CPG food entrepreneurs should think about product evolution and SKU lineup complexity
  • How a CPG food startup should think about and use data to hone their strategies
  • How to build a growing customer base and find higher lifetime value consumers
  • The “tech stack” needed to build a DTC business

And lots more, If you’re a Spoon Plus member, you can watch the full video of my conversation with these two founders to hear how they’re building their businesses.

Just click here if you’d like to learn more about Spoon Plus.

If you’d like to learn more about Spoon Plus you can do so here.

Geltor Raises $91 Million To Accelerate Time to Market for Biomanufactured Products

Geltor, which helps CPG brands in a variety of verticals such as cosmetics and food, is looking to scale up its biodesign capability to help these companies find more sustainable, animal-free alternatives for food and cosmetic items while also accelerating their time to market.

“We do two things,” CEO Alex Lorestani told the Spoon. “Building a portfolio of ingredients that can help brands right now, for products they’re building in the next six to 12 months. And then partner with folks that are thinking about solutions that they’d be bringing out in the next, you know, two, three years.”

Most biomanufactured products usually take a really long time to design and bring to market. Vaccines are a good example of this, where half a decade is considered fast to develop a highly scaled product with millions of units.

“Historically biotechnology has been really good at delivering on the timescale of pharmaceutical products, like many years, and that just doesn’t work for consumer product companies,” said Lorestani. “Their development cycles are fundamentally different.”

According to Lorestani, Geltor will invest the money largely in new people. “The number one thing that we invest in are the folks that develop technologies that can help us serve more and more customers with more sustainable ingredients,” he said. “We want to be able to do that faster and for more customers. That’s what we’re using the capital for.”

Geltor is part of a nascent group of companies such as Gingko Bioworks (and its spinout Motif Foodworks) that are raising significant amounts of funding to build the capability to rapidly develop engineered microbial ingredients and scale the biomanufacturing of products built around these ingredients. The transition from an industrial-centered food manufacturing to one which utilizes fermentation and other biomanufacturing processes will take time, but investors seem bullish as they start to invest hundreds of millions of dollars into these companies.

I asked Lorestani where he thought biomanufacturing was in its development and he pointed to the early days of another science discipline which is a foundation for much of today’s industrial-based food manufacturing.

“It’s like 1900 in chemistry,” he said. “I think that we’re at the very early stages. It’s going to be 100 year cycle for biology to really become and lead as the way that supply chains and lots of other things, get get built and delivered.”

Spoon Plus subscribers can see my full interview with Alex Lorestani in the video below. 

The EPIC-KITCHENS Project is Building a Foundation For Artificial Intelligence in the Kitchen

From the post in 2018:

The ultimate goal behind EPIC-KITCHENS is to create an open dataset about kitchen-centric objects, behavior, and interactions upon which researchers across the world can then focus their deep-learning algorithms on in the hope of advancing artificial intelligence in the kitchen.

Since those early days, the project has continued to progress, recently releasing a newly expanded dataset and publishing the results from the second annual challenge. The first research challenge, completed in 2019, was focused researchers building models that can recognize actions in the kitchen. The recently completed challenge focused on action anticipation, where they asked researchers to predict what action would take place after one second of video.

Researchers who competed in the most research challenge include teams from a variety of universities spanning the globe from Cambridge to Georgia to Singapore as well as some corporate research labs such as the AI team from Facebook.

I recently caught up with the resesarch lead for EPIC-KITCHENS, Dr. Dima Damen from the University of Bristol in the United Kingdom, who told me that the various research teams competing used a variety of approaches to help make their systems better at recognizing and predicting actions based on the information from the video.

“There are some people who’ve used audio,” said Damen. “So they’ve used the audio from the video to identify something like opening the tap versus closing the tap. Traditionally, computer vision has relied on just images without like videos without sound.”

“There are some people who looked on a very big set of things, at what happened the past minute, because that’s helping them. And there are people who said, ‘no, I’ll focus on the objects, like where the hand is, where the object is, that’s a better approach.'”

For the next set of challenges, the group is providing a newly expanded set of data and asking them to focus on things such as “test of time”, where they ask if models trained two years ago still perform well and “scalabilty,” where they will have researchers look at whether more data is better.

Part of the expanded data will be a newly broadened dataset called EPIC-KITCHEN-100, where new footage brings the total number of hours of video captured to 100. According to Damen, the new video is from a cohort that included participants from both the previous study (half of the original 32 participants agreed to participate again) and 8 new participants.

According to Damen, by bringing back past participants, it will allow the computer models to better understand kitchen behavior by factoring in what happens with the passage of time, like in real life, but also better understanding how small changes can impact the results.

“It’s the natural progression, like how life will be,” said Damen. “The question is what happens to computer vision in the meanwhile? So it’s tiny tiny changes, right? It’s a slightly new camera, people might have moved home, and then we’re asking more questions that we believe would be interest to the community.”

Damen said she hopes that her technology can help build better technology and systems that could be of help to humans who need assistance.

“So there are new questions that are being asked which, interestingly, even the assistive technology community is not talking about. As in, if you want to help someone, sometimes you can guess what they’re doing, but many times you can’t.”

Spoon Plus Subscribers can read the full transcript of our conversation and watch my video interview with Daman below.

SavorEat Plans to Build an Appliance For The Home That Prints & Cooks Meat

“That’s our goal,” said Vizman when I caught up with her via a zoom call. “Where we can also have, next to a microwave, we can have machines that you know can create variety of products.”

But to get there, first her company is working on building a product that can print and cook food instantly for a large quick service food chains, starting with one of the biggest in Israel, BBB (Burgus Burger Bar).

“We are about to start this testing it in their facility within a year, while we believe that we will be commercialize it in a larger scale two years from closing the financial round that we are now running.”

That financial round Vizman is looking to close is a $3.5 million seed round led by a company called Next Food, an Israel based food tech investment fund. Next Food led SavorEat’s pre-seed round of $1.75 million.

3D printed meat has gained momentum over the past couple years, especially, it seems, in Israel. SavorEat joins two other venture funded Israel based 3D meat printing startups in Redefine Meat (formerly Jet Eat) and Meatech, a company which prints cultured meat cells into steak.

Two things set SavorEat’s technology apart from those and other 3D meat printing startups. The first is the company’s binder, which is a proprietary plant-based cellulose. The cellulose is combined with other ingredients such as plant-based fats and protein to make the final product.

“We’re using the cellulose to bind a variety of fats and proteins and other tastes and flavors and combine a very stable emulsion,” said Vizman.

The other big differentiator for SavorEat’s technology is that it prints and cooks simultaneously, which allows the company’s printers to make a fully cooked piece of 3D printed meat like you might see produced by a futuristic appliance like that in the TV show Upload.

The food comes out “ready to be eaten,” said Vizman. “We’re printing one layer, then we cook one layer, print one layer, cook one layer. So at the end, you get something that’s ready to be consumed.”

This print and cook technology, according to Vizman, will give the cook a high degree of precision of over the final print.

“The nice thing about that is that you can also control the way you cook it. You can decide whether you want it medium, you want in rare, well done. How you want to cook it in the you want to grill it from the inside and rare from the outside.”

The company’s technology was invented by Oded Shoseyov, a serial inventor and entrepreneur who spends much of his time spinning out new ideas from his research lab at Hebrew University. Shoseyov is SavorEat’s chief science officer. Shoseyov and Vizman are joined by other executives from companies like Stratasys (3D printing) and IFF/Frutarom (flavors).

The full interview with Vizman, where we go in depth on the company and its technology, can be read below if you are a Spoon Plus subscriber. Find more information here about subscribing to Spoon Plus. 

Talking 23andMe For Farms, Bioreactors-as-a-Service & Other Crazy FoodTech Ideas With Dave Friedberg

But here’s the thing: most ideas about the future sound a little crazy the first time you hear them.

I had known about Friedberg for some time, in part because was the founder and CEO of agtech’s first unicorn in the Climate Corporation, a company that sold to Monsanto in 2013 for over $1 billion.

More recently I’d been tracking his progress at the Production Board, a company that is essentially an idea incubation factory for food, bio and ag tech concepts. The group is run by what Friedberg describes as “operators more than investors”.

The Production Board company portfolio is strung together by something closer to a grand unified theory about how the world should work rather than any sort of single investment theme. This theory, which Friedberg articulates in a manifesto on the Production Board website, reads as much like a science fiction short story as it does an investment guide and is centered around how the world’s existing food and agricultural production systems are antiquated relics of an inefficient industrial production processes that have taken root over the past couple centuries.

I sat down for a (virtual) meeting with Friedberg recently to talk about how the Production Board works and the progress he is making for upending some of the antiquated food and ag systems. We also talk about Friedberg thinks the future of food could look like ten years or more in the future.

You can see some excerpts from our interview below. In order to see the full interview and read a transcript of our conversation, you’ll want to subscribe to Spoon Plus.

Friedberg on how crazy it is we aren’t harnessing the full technology development to address our problems around food and agriculture:

If a Martian came down to planet Earth and they look at the way we’re doing things they would say, “that’s a little bit crazy. Not only that, but it’s crazy that you guys do things the way you do them given all the technology you have. You can do crazy shit as humans. You can like write DNA and you can like ferment things in these tanks and make whatever molecule you want. And you can pretty much print anything anywhere using different chemistry.” It’s ridiculous that the systems of production operate the way that they do.

Friedberg on the idea behind Culture Biosciences, a company he describes as an AWS for Bioreactors:

If you fast forward 50 years, Tyson Foods and these feedlots and cattle grazing, I mean, it’s so fu**ing inefficient it’s just unreal. It’s mind blowing how much energy and money and CO2 is part of the system of producing meat and animal protein. And we have the tools to make animal proteins and fermenters, so if you could have a fermenter in your home, and it just prints meat when you want it, I think that would be pretty cool. Technically the science is there, the engineering isn’t. And that’s the thing: with a lot of these things, the science is proven, but a lot engineering work still to do. But it’s, it’s feasible. All these things are feasible.

Friedberg on how the Production Board germinates ideas that ultimately become one of their portfolio businesses:

We do primary research, we spend a lot of time with scientists and researchers and identify new and emerging breakthroughs in science and technology. We also spend time in the markets we operate in: food, agriculture, human health, increasingly looking at things like energy materials. And then we try and identify what’s a better way of doing this thing in this market?

So using all these new breakthroughs using all this new science, using all this technology that might be emerging, how can we do something that can transform one of these markets and really do a 10x on it? If it’s not a 10x, if it’s just a 5% better model or a 10% better model, it’s not worth doing. If we can 10x the market – reduce cost or energy by 10 times – then it becomes kind of exciting. And so that’s how we kind of think about operating business opportunities.

The full interview and transcript are available for Spoon Plus customers. You can learn more about Spoon Plus here.