Day: November 10, 2024

A Billion on Berries

It sounds like the perfect title for a get-rich-quick course for stay-at-home moms, but nope, not this time. Meet Agrovision Corp, a company from Los Angeles that recently reached a valuation of over $1 billion (Source: Bloomberg.com). And what do they sell? Berries. Their blueberries, blackberries, and raspberries, under the Fruitist and Big Skye brands, sell exceptionally well in Costco, Whole Foods, and other major retail chains. But here’s the kicker: their success isn’t actually rooted in traditional agriculture, nor in the hard work of Peruvian plantation workers handpicking blueberries. It’s all about technology – specifically, precision agriculture. This is where AI, telemetry, the Internet of Things, and other innovations are integrated into farming to take productivity and quality to the next level. Agrovision Corp noticed that customers were tired of the “berry roulette.” You know, when you buy a pack of blueberries, only to find half of them are tiny, sour, or crushed. The company saw an opportunity to solve this problem and use it as a competitive edge. https://preview.redd.it/7oa0et0l130e1.jpg?width=1200&format=pjpg&auto=webp&s=4a9ca2dde8156877338fc3c1d7f0284f0cab3213 They set up precision agriculture farms in the U.S., Peru, and Morocco, equipping them with AI algorithms to predict optimal planting and harvesting dates. They also invest in research programs to breed berries with enhanced flavors and ideal sizes. For logistics, they use vacuum storage chambers that significantly extend the freshness of their products. The result? Consistently high-quality, defect-free berries that consumers are willing to pay $6–$8 per pack for. It’s pricier than average, but the premium look and taste – and the absence of “berry roulette” – make it worth it. Beyond retail, Agrovision Corp also supplies B2B clients, serving exclusive events, luxury hotels, and even clubs from the NFL. In essence, Agrovision Corp is more of a tech startup than a traditional agricultural producer. But still, a billion-dollar valuation on blueberries and raspberries? That’s impressive. Love to hear stories like this. submitted by /u/FXgram_ [link] [comments]

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💰 Precious metals are becoming cheaper: analytics from Commerzbank Silver, platinum and palladium prices continue to decline under pressure from the strong US dollar. 📉

💰 Precious metals are becoming cheaper: analytics from Commerzbank Silver, platinum and palladium prices continue to decline under pressure from the strong US dollar. 📉 The decline in silver prices was more than 5%, reaching $31 per troy ounce. 💎 Platinum fell to $970 per troy ounce, and palladium fell to $1010 per troy ounce. This is reported by Commerzbank commodities analyst Carsten Fritsch. Stay tuned for updates on the precious metals market! submitted by /u/Yuriy_UK [link] [comments]

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📊 🤓 Economic news from Canada: unemployment rate remained at 6.5% Statistics Canada released labor market data for October on Friday.

📊 Economic news from Canada: unemployment rate remained at 6.5% Statistics Canada released labor market data for October on Friday. The unemployment rate remained unchanged at 6.5%. This value was lower than the expectations of analysts, who predicted an increase in the unemployment rate to 6.6%. Thus, the labor market shows stability, despite instability in the global economy. 🛠️💼 submitted by /u/Yuriy_UK [link] [comments]

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This is absolutely insane: The US government is projected to spend $13.0 TRILLION by 2029, according to IMF estimates. That’s nearly double the $6.8 trillion spent in Fiscal Year 2024.

For context: before 2008, government expenditures were 3 TIMES lower. Meanwhile, last month, the US posted its third-largest budget deficit in history — $1.8 TRILLION, or 6.4% of GDP. Right now, total federal debt has hit a new record of $35.9 trillion. So, here’s the question: what’s the endgame here? submitted by /u/FXgram_ [link] [comments]

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