Podcast Summary
Innovation in Investing and AI, and a Personal Shift Towards Animal Welfare: Schwab simplifies investing through thematic platforms, Anthropic balances AI speed and intelligence, Scott shifts perspective on animal welfare, and The Better Meat Co. creates meat without killing animals.
Both Schwab and Anthropic are providing innovative solutions in their respective fields. Schwab is revolutionizing investing by making it easier for individuals to invest in emerging trends through their thematic investing platform. Anthropic, on the other hand, is helping businesses incorporate AI with their offerings, providing models that balance speed and intelligence. Meanwhile, the conversation between Scott and Ed revealed a personal shift in Scott's perspective towards animal welfare and potential reduction of meat consumption. This change was not driven solely by health or environmental concerns but rather by an increased empathy for animals. On a larger scale, the food industry was highlighted as a significant player in animal welfare, with staggering numbers of animals being killed daily. The conversation then transitioned to an interview with Paul Shapiro, the CEO and co-founder of The Better Meat Co., who is on a mission to create meat without killing animals. Overall, the discussion showcased various aspects of innovation and change, from investing and AI to animal welfare and food production.
Animals in mass production for food: 75 billion chickens, 1.5 billion pigs, and 650 million sheep are killed annually for food, most in inhumane conditions, alternative solutions needed
The mass production of meat and other animal products for human consumption has led to staggering numbers of animals being raised and killed every year, with 75 billion chickens, 1.5 billion pigs, and 650 million sheep being killed annually. This is despite the human population only doubling in the past 4 decades. The numbers can be overwhelming, but it's important to remember that these are individual animals who feel pain and suffering. The only reason they are subjected to such cruelty and violence is due to how we perceive them. The real concerns are not just the environmental impact, but the suffering these animals endure. Nearly all animals raised for food in the US are raised on factory farms, where they live in cramped, inhumane conditions. It's not just a few bad apples, but customary agricultural practices that are inhumane towards animals. The development of alternatives to meat, eggs, and dairy is crucial to address the demand for these products without inflicting widespread animal cruelty.
Technological innovations can make animal agriculture obsolete: New technologies may replace animal agriculture, making it obsolete and reducing animal exploitation
Exploitation often continues unless it becomes obsolete due to technological innovation. For instance, horses were once used as forced laborers for transportation, but the invention of cars made horse-drawn carriages obsolete. Similarly, whale oil was once used to light homes, but the discovery of kerosene made whale harvesting unnecessary. The same could potentially apply to animals used for food. Animals have been used as food sources for thousands of years, but new technologies may make animal agriculture obsolete. The speaker's own career in animal advocacy started when they were 14 and saw a video of animals in factory farms. They founded Compassion Over Killing, which grew into a national nonprofit organization, and eventually led to a career in lobbying for animal rights and advocating for alternative proteins. The Better Meat Company, which the speaker started in 2018, is an example of this technological innovation, creating high-protein, delicious foods without the need for animal exploitation.
Reducing animal agriculture's environmental footprint with meat substitutes: The Better Meat Co creates meat substitutes that taste and feel like real meat using alternative proteins and texturizing technologies, making it an effective way to reduce animal agriculture's environmental impact.
Technological innovation in creating meat alternatives is a more effective way to protect animals and reduce the environmental impact of feeding the growing global population, as meat consumption continues to rise, particularly in developing countries. The Better Meat Co aims to do this by creating meat substitutes that replicate the taste and texture of animal meat without the need for livestock, unlike other companies such as Impossible Foods and Beyond Meat, which focus on plant-based meat. The Better Meat Co's approach involves using alternative proteins and texturizing technologies to create meat substitutes that are more similar to the real thing, making it a promising solution for reducing animal agriculture's environmental footprint.
Exploring Alternatives to Meat: Mycoprotein: Mycoprotein, a whole food ingredient made through fermentation of microbial fungi, offers a meat-like texture and more nutrients than animal meat while avoiding its negative aspects.
The future of plant-based alternatives to meat may not lie in replicating the taste and texture of meat through complex processes using peas or other plants. Instead, companies like The Better Meat Co are exploring the use of mycoprotein, a whole food ingredient made through fermentation of microbial fungi. Mycoprotein naturally has a meat-like texture and contains more protein, iron, zinc, potassium, fiber, and vitamin B12 than its animal-based counterpart, while avoiding the negative aspects such as saturated fat, cholesterol, animal cruelty, and environmental degradation. The process of creating mycoprotein is simpler and more cost-effective as it doesn't require extensive processing like the Beyond Burger. Atlassian, a technology company, also supports startups by providing them with tools and resources to help them scale and grow. Thorne, a supplement company, offers high-quality supplements guided by a scientific approach to help individuals meet their nutritional needs.
Discovering a unique fermentation process using fungi to create high protein meat alternatives: Better Meat Co uses a unique fermentation process with fungi to create high protein, meat-like products. Despite the high cost and long-term commitment, they plan to build a commercial production facility.
The founders of Better Meat Co discovered a unique fermentation process using fungi to create high protein, meat-like products. They were inspired by the success of Quorn, a British company using similar methods, but sought to create a more meat-like experience. However, this process is not widely adopted due to its complexity and high cost. It involves growing microbes in large stainless steel fermenters, which requires significant capital investment and years of research. This long-term commitment and high entry cost make it a challenging proposition for some companies and investors. Despite these challenges, Better Meat Co has proven the technology can scale and plans to build a commercial production facility. The diversity of microbial fungi offers potential for a wide range of meat alternatives with different textures, flavors, and nutritional profiles.
The Future of Meat: Lab-Grown Meat and Space Travel: Investors see potential in lab-grown meat as a sustainable solution for space travel and reducing environmental impact, despite concerns over processing and unrecognizable ingredients. By focusing on benefits and addressing concerns through education and transparency, we can move towards a more sustainable and ethical food system.
As we look towards the future, there is a growing interest in alternative methods for producing meat, particularly in the context of space travel and sustainability. Investors like Steve Jervison see the potential in lab-grown meat as a solution to both the environmental impact of animal agriculture and the need for sustainable food sources in space. However, there are concerns about the amount of processing and biochemical engineering required to produce these meat alternatives. Some argue that the long list of unrecognizable ingredients can create a negative stigma. However, it's important to note that many of these ingredients are just scientific names for common substances, like plant fiber or vitamins. Additionally, compared to conventionally produced meat, lab-grown meat eliminates the need for intestinal pathogens, making it potentially safer for consumption. Ultimately, the debate around lab-grown meat comes down to what is truly good for us and how we can remove the negative stigma surrounding it. By focusing on the benefits and addressing concerns through education and transparency, we can move towards a more sustainable and ethical food system.
Discussing the advantages of The Beyond Burger over conventional burgers and the importance of addressing climate change in the meat industry: The Beyond Burger offers health benefits and reduces environmental impact compared to conventional burgers. Governments should invest in creating domestic industries for alternative proteins to address climate change and ensure food security.
The Beyond Burger, as a meat alternative, has several advantages over conventional burgers in terms of health and environmental impact. It has no cholesterol, less saturated fat, and requires significantly less land for production. However, the discussion also highlighted the importance of addressing climate change in the meat industry, as animal agriculture contributes significantly to greenhouse gas emissions. The speaker emphasized the need for governments to invest in creating domestic industries for animal-free proteins, to ensure food security and reduce the environmental impact of meat production. The speaker also warned of the potential consequences if the US falls behind in this area, as other countries are already investing heavily in alternative meat production. Overall, the message was clear: reducing the number of animals raised for food is essential for both animal welfare and climate change concerns.
Entrepreneurship: A rollercoaster ride of challenges and triumphs: Starting a company is a tough journey filled with setbacks, but the potential for making a significant impact keeps entrepreneurs committed.
Entrepreneurship is a challenging journey filled with hurdles and setbacks, but also rewarding moments of triumph. The founder in this conversation shares how starting a company has been the hardest thing they've ever done, comparing it to Sisyphean tasks where one keeps pushing a boulder uphill only for it to roll back down. Despite the difficulties, the founder remains committed due to the importance of their mission and the potential for making a significant impact on the world. Interestingly, the founder also sees parallels between entrepreneurship and nonprofit work, both requiring persistence and the ability to make a difference. However, the founder believes that being a businessperson has enhanced their ability to make a bigger impact by inventing technologies that can solve problems rather than just addressing their symptoms.
Government support for animal-free protein industry: Government incentives and funding can accelerate the growth of the animal-free protein industry, encouraging larger companies to enter the market and build manufacturing facilities, leading to more competition, faster progress, and benefits for the economy, environment, and society.
The government could play a crucial role in accelerating the growth of the animal-free protein industry by providing incentives and funding for its development, similar to how it has supported industries like electric cars and space technology. This could involve offering grants, low-interest loans, and tax credits to encourage larger companies to enter the market and build manufacturing facilities, which would lead to more competition and faster progress. For entrepreneurs in this field, such government support could be a game-changer, allowing them to access the resources they need to scale up their operations and bring their products to market more quickly. Ultimately, this would benefit not only the economy and the environment, but also the moral progress of society by reducing the need for animal agriculture.
Securing Adequate Funding for Early-Stage Biotech Companies: Raising more capital than needed is crucial for early-stage biotech companies to ensure longevity and avoid running out of money, the leading cause of startup failures.
For early-stage biotech companies like The Better Meat Co., securing adequate funding is a significant challenge that can limit growth and innovation. The company's CEO, Paul Shapiro, shared his frustration with operating on a shoestring budget and the constant need to beg, borrow, and fundraise for necessary equipment and manufacturing capacity. Shapiro emphasized the importance of raising more capital than needed to ensure longevity and avoid the number one reason startups fail: running out of money. The Better Meat Co. is currently fundraising and welcomes potential investors to join their mission in creating sustainable protein alternatives. If Paul could give advice to his former self, he would emphasize the importance of securing as much capital as possible, even if it means more dilution, to increase the chances of long-term success.
