YouSaid · the spoken record

Beth Ford

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95
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2019-01-21
most recent
2019-01-21
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1
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  1. I think I'll make a stick today. You just get more and more interesting to me. I do. No, I'm sitting across. I'm just like, this is an interesting person.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  2. You have at lol? Uh huh. You know, aren't they coming out with a butter emoji? We need to own that. We need a butter emoji. It's got to be. We'll put a little hat on that. Yeah.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  3. And I think That's right. I mean, I think companies are taking more of a leadership position given. Well, there are an idioty.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  4. Facing companies. Level that they do. Right. And it's interesting because some companies like Nike and Judd, they're actually being aggressive about it. They're a point having a point of view. Which is interesting. It's interesting to think about because companies used to be much more. IBM was one of the first companies to integrate. It was a big deal. And I think companies do change social. I think they change social more than politics or anything else. I think a lot of change happens at the company level. But it is interesting now because of the fraught nature of our political environment and stuff like that.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  5. I think if you get pulled into that, and they may be... Somewhat unique, not unique. I mean, those are large, very publicly facing companies that everybody knows around the world. And so they're going to be asked their opinion pretty frequently. Yes, I get asked by opinion or what is the company's position, but not probably at the same level that they do. I think going back to my comment, I really do believe that you will be naive if you don't think that you're going to be asked about those things. And so you have to have a point of view. And it has to be consistent with the values of the company and the way that you're showing up in the marketplace. Right.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  6. Farming, and listen, we're for immigration reform. I was up on the hill today with multiple members of Congress talking about that, why it's so necessary, why farmers need workers.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  7. Because, you know, it's interesting because Silicon Valley definitely gets pulled into because they talk about these issues a lot before. They did where this, we're that. And then when Google gives money to someone who's so antithetical to the things they said before, they look like hypocrites, right? Most other companies just sort of stayed even, like didn't say they were great or bad, but now you really do have to. I think companies really do have to take a point of view on certain issues.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  8. No, I think you would do well to assess the risk of different decisions that you might make with that as one of your frameworks. Yeah, because it's interesting.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  9. The way you're showing up in the marketplace, the way you're describing the company itself, the way you're describing how you're playing and engaging. Thus, what we believe our focus is of feeding growing world population, when people understand that we have farmer ownership or that that is what we're targeting, I think that they like the company, they love our products even more, that, wow, we didn't even know that. We put our farmers on the front of the package. These decisions, I agree with you. I think people are paying attention. There's social media. They're going to make judgments about your products based on who they believe the company is, how it's being led in the way you're showing up. And you should understand that.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  10. No matter what. I think you would be naive to not understand consumers are making product decisions or buying decisions based on who they perceive you are as a company So, you better have that framework in your mind.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  11. I've received much very nicely written handwritten or emails or texts as did our website. So this environment, this political environment especially is just fraught with all sorts of emotion, isn't it? And so that's not unexpected. And certainly we heard from everybody that for them this was an issue. My view is, and we go back to what I've told my team, we must have a broader frame. How are we showing up in the marketplace? How are we showing up about who we are and what our values are? And so that's what occurred. Was that a hard?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  12. But bottom line is we had already made that decision because, again, a new CEO, looking at everything and I said, we need to have a broader frame of reference that is that talks about who we are, talks about what the way we want to interact with our consumers. Talks about your values.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  13. Anyway, be deeply involved in Seaford. Anyway, so I took over in August and understood that we needed probably to have a broader frame than whether somebody was involved in agriculture and mentioned that to my staff and said, you know, we need to have a broader frame of reference. So as the election got closer, obviously the congressman became a hot issue because of some of his commentary. And so we just

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  14. But again, what we're trying to do is see for folks who are in agricultural areas working with them on policy issues. Sure.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  15. No, no, no, but I'm saying the context of it because what we're also trying to do is strengthen rural communities. So the Congressman King was in an election cycle and our pack, I believe, gave some funding. Now this was your PAC. Our Landa Lakes pack.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  16. Yeah. Well, first of all, I took over the role in August. So we're involved in, I want to go back to my comment on modern agriculture. There's only probably 1.4% of American population that's involved in agriculture. So we find it necessary and we think it's important for us to be involved in DC.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  17. That's You'll see. All right, Beth, I want to finish this up talking about Stephen King. I know you don't want to talk too much about it, but you guys stopped explain what happened with Landa Lakes because it got a lot of attention.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  18. They're going to drive and you up But that's it. I mean, most people, most companies like that are going to a services mom, right? We'll give you the car. Or if you want, even in the agriculture industry, you don't need to buy the combine. Here we'll provide the combine. Here's the services and things like it. Will we not have

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  19. No, yeah. I like it. I think you're absolutely spot on on that. And it's moving at warp speed. I mean, look at the car companies. Is Ford going to sell what? One model?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  20. No, because sometimes I bring my family along and then they bring something into the cart that they're not supposed to have. And then I'm like, okay, yeah, we'll try that. Yeah, I know, but think about it. Then I look like a star model. I look a star mom then.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  21. Food service meaning back a house at a restaurant or in colleges and things like that. Those businesses were innovating against those areas of growth because that's where the growth is in the grocery business and the retail business. But center of the store, that's not growing because of the reasons we say. And people are more willing to trade. So I want to go back very directly to your question, what's it going to be like? I think we're going to see a very changing competitive environment that demands innovation, insights about what a consumer might want. And you have to be fearless to try things. You can't take asymmetric risk, bet everything on it, but you can drive innovation. And I think that's an exciting place to be.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  22. Is that the word? You gave me a new word I didn't know. Live the dream. So grocerant, snack cheese, everybody likes to snack. Nobody likes to cook. 10% of Americans like to cook.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  23. So, why not go? And that's why I say innovation is so central. You know who's winning? I always say this, you know, this is why I love this accelerator, because you keep bringing this guy and he's got like, I think he's pulling a red wagon. He's getting on the store shelf at Whole Foods or something. And I'm like, what's the guy doing? We got to learn from the guy. This innovation, this ability to test at a farm stand. It is absolutely crucial. So you're right. Big CPG companies have tremendous pressure. And at the same time, you see retailers. themselves have you know what's growing Won't surprise you in grocerant, you know, you go get your chicken.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  24. They seem to be expanding pretty rapidly in a lot of different areas. They're in grocery. I'm not sure that they're yet. They've got a huge position in groceries, especially on fresh groceries.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  25. Why not? Amazon. There's other retailers. Like I said. All the retailers. Many retailers are putting on their own animals.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  26. Oftentimes, what they do is it's through milk. It's fresh products, a mom or a dad needs to feed their kids, right? So they want to drive store traffic and this is this retail disruption. So what's happening is that they want to pressure down pricing on drinking milk and other items. That pushes all the way back to the farmer and the producer. And so we're seeing this play out across these different areas. You can't get a meeting with a large retailer, a grocery retailer, if you don't have an innovation. That's why we're excited to acquire Vermont creamery where we can do innovation in small amounts. We'll create products in partnership with the retailer or do you ever imagine those retailers?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  27. This is really an interesting thing because we see it as the second and third order implications of this. So you've got Amazon that buys Whole Foods, right? And they're trying to take a position in the grocery line and they're trying to get last mile delivery and have connection with the consumer. So what happens? There's a whole response by the whole grocery industry, tremendous challenges. And what they do then is really interesting. We see it in our business because they go and they decide they're going to put on their own processing. Some of them are putting their own animals. They want to own the whole value chain because they do what businesses do. They go back in the value chain and they try to say, I want to capture these profit pools and I want to control.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  28. It seems different, and something that's so personal to all of us that you have memories shaped around I will be curious to see how it evolves myself. I do think that there's going to be more innovation. You see that. You cannot, you know, this retail side, we didn't even get into that. I know we don't have time. But since there's so much significant retail disruption.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  29. You know, I think I don't know what that's going to be like. I do know that, you know, again, it's that reaction we all have. What do you mean you're cell-based me? What do you mean? Because it feels uncomfortable.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  30. Like a hamburger. Yeah, it's a new product. I know I saw that it supposedly looks like a burger and it's got the texture, the mouthfeel.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  31. Yeah, there's a health and welfare. We spend a lot of time looking at insights because people will buy on either convenience or values or they buy on various elements. So what do I see? Food is so central. Do things change? Do new products come in? Yes, they do. But I do think still it's a center.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  32. It again on the food. Has a point of view about food. Everybody does. Right. So, what will food be like in 20 years? What is food? Also, there's also the nutritious elements because most people don't eat very nutritiously, like getting people.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  33. Innovation. And you can't even get a meeting with a large retailer. And so that is a significant issue right now. Innovation is going to be central. You see a lot of startups. In fact, we have an accelerator where we'll work. We don't take a position. We don't take an equity position with them. We just help them because by definition, it's beneficial for our farmers and for our dairy producers to have the sector lifted by other businesses. I think you're going to see more of that. And there does seem to be more of an interest from Silicon Valley. They're investing in tech tools like we discussed, but also it just, like I say, it's the whole culture of whether it's meat, meatless meat, you know, cell-based meat, all of those things are evolving.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  34. Well, food protection, by the way, we had a whole thing at South by Southwest. We'll do it again on the food effect, then we talk about a little bit about that. So where do I see food going? Like I say, everybody is, it's a foodie culture. Everybody has a point of view about food. Everybody does. And so it's one of those areas you get a lot of opinions about. I think it's exciting because what it is, very intimate. It's the way you think about your families. It's a place, it's a gathering element. And so I think that that is still going to be there. What is interesting is consumers are much more willing to change. When I was growing up, you know, I have seven siblings. You'd get wheaties, rice crispies, cheerios. That was it. That was breakfast. Now there are all sorts of different choices. And so I think it's an exciting time for food, for the food industry, but you have to be an innovator, meaning you can't just rely on a, hey, I have this. Now I'm going to have a cinnamon butter. That's not it.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  35. 100%. It does. It doesn't work as well for women as it does for men because women are the pregnancy thing goes, even though I'm 109 years old. The women's bodies apparently go right to making you, there's things that get created that make you hungry. And then you eat. Like, if you don't eat, it makes you hungry to eat more than men, apparently, apparently. In any case, it's interesting. It's interesting. It's an interesting thing. But how do you think about where food is going?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  36. Okay, we're back with Beth Ford, the CEO of Landa Lakes. We're just talking about agribusiness. I want to sort of spin it forward about where food is going, like the idea of food. You all make and work with all kinds of farmers. You work with people who make food, Campbell's, and people who sell food. Silicon Valley's gotten super interested in the impossible burgers. I mean, I know meat is not your area, but it's the idea of all, yeah, all these things of how we're going to make food. How do you look at that sort of? And then, of course, they're intermittent in fasting and soil and things like that, the eating.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  37. All right, we're here with Beth Ford. She's the CEO of Land Allik, talking about Agritech and food sustainability and food issues going forward. When we get back, we're going to talk more about really where the future of food is. It's a big obsession in Silicon Valley. They've gotten into a lot of different food things. And a little bit about Stephen King, because Atlanta Lakes did something somewhat controversial for a big company recently.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  38. Of that. So, when you say, is there a challenge? Where there's a challenge if we're not going to embrace technology proven, safe has to be. I'm all about that. I'm all about other different types of food production, but we have to realize that the challenge is significant to try to feed this world population.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  39. Yeah, because if it's not good enough for you, why is it good enough for me? And that's a real problem. So when you say, is there a real message?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  40. I think that there's innovation that's occurring, but I'm going to use, again, I'll just use that last example of GMO. GMO seeds because of that kind of really negative view of that. What happens? Where are some of the food stress areas? Some of the food stress areas are in emerging markets. They're like in Africa. We, by the way, have a development division. We go into these emerging markets and work with smallholder farmers. We're partnered with the Gates Foundation. We're partnered with USAID. The reason this is relevant is because in some of these countries, because they say, well, it's not good enough for you, so we're not going to use it here. This is a real moral issue of an ability to feed a villager.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  41. Right, right. But are we under a great challenge besides water? I don't want to get into the issues around water or anything else, but are we under great inability for there not to be enough innovation in food production to create a crisis?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  42. We almost lost the use of that technology. That's been in modern agriculture for 20 some years. There's never been a health problem, and it's implied saying GMO free is an implied health claim And so we scare people with marketing. And, you know, so what do I think? I think that there is an ability to meet this challenge, but we have to open our minds to all sorts of angles for that. There's organic farming. I mean, there's all types of different farming in the way that we produce food, and we should embrace that and not have it be something that is a marketing issue where I'm trying to take share from somebody else. I'm trying to, you know, we should elevate a sector versus saying, I'm going to try to take share from somebody else. And the way I do that is by saying this food is bad.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  43. But when you're thinking about that idea of feeding the world, be honest, how dangerous are we not if we're scared of using technology? I think it is because they think they're going to take seeds and turn them into some monster seed that's going to kill us all or something like that. How dangerous is the situation?

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  44. Don't do that. Don't do that. That's why I don't But I was saying this, the work that we're doing, the mission of the company, the fact that we're trying to hit one of these grand challenges, I think makes it an incredibly exciting place to be. And it's not just the technology or the work of the work. It's the vision of what the company is all about.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  45. No, actually, you know what? We looked at that. We said, does that hold us back? And we kind of sneak up on people because when people investigate what this business really is and how we're doing things, our mission is feeding human progress. The things that we've done are...

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  46. So there's waste, and you know, so what we're looking at is how can we make sure we have sustainable food production when we know there's not going to be enough water and not enough land that is going to be moved into crop production. And, you know, so all of those, there's no one answer to that problem. Some of it has to do with production. Some of it has to do with waste. Some of it has to do with distribution. I mean, all of those things have to play together. It's one of the reasons that I think this company, my company, Atlanta Lakes, is so interesting. People know us as the butter company, but we're doing things that are so much bigger.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  47. Well, it's waste. It's after harvest. It's after consumption waste. You see here in the United States, there's distribution issues. It's hugely high. Yeah. What is it? And what is it? 12% of the population in the world goes to bed hungry.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  48. So, before we finish the section, when you talk about sustainability, as you said, there's going to be 10 billion people on this planet. What's the year? 2050. Right. Which sounds like a hellscape for a lot of people. And food needs are...

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  49. Because they want to market against that, because as part of their value of their company, it's certainly part of the value of our company and part of the values of the farmers. And so we like to make sure that we can convey that.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT

  50. They're concerned about that, and they want to make sure that they have sustainable production, meaning my ingredients, campbell soup, Kellogg's, my ingredients, are sourced from a farmer that we know has good farm practices that are better for the environment.

    2019-01-21 · Decoder with Nilay Patel · Recode Decode: Land O'Lakes CEO Beth Ford and Rep. Steve King · IDENTIFIED FROM THE TRANSCRIPT