0:06
selling ugly produce to restaurants in India yes is that a YC thing it's a YC company yes okay no dia and that's a company in America and what's it called they know that it's it's in India so it's farm theory no oh there is also one here yeah
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0:22
yeah there's a there's like a farm-to-table box I think that's the ugly produce thing in America for what it's called it me too I just googled it foods yeah imperfect food so I'll give you the stats on these guys so so they're doing
0:37
twenty-two thousand a month of em are are they say forty percent profit margins they say they're growing 65 percent week on week which doesn't mean anything because it's YC but they're on track to get to a million dollars a are
0:50
are the coming months what they're doing is interesting they're taking farming is huge in India so they're saying okay there's tons of farming tons of produce produced there's tons that's not gonna get sold because it looks ugly it's not good for
1:03
a consumer retail but we could buy that stuff for cheap because it's just waste otherwise we can sell it to restaurants who don't care about the aesthetic look of the you know they're not picking like a consumer doesn't in the grocery store
1:15
where they pick a you know the best-looking one out of a barrel the wrestlers don't care they're chopping it up processing it turning into food if they can get lower food costs fantastic and so they're looking at you know right
1:27
now at seven hundred twenty dollars a month just for the restaurants in Bangalore which is a part of India and they're they believe it's a big marker they claim a 500 million dollar market just in Bangalore just through the restaurants that are there sounds a
1:40
little high to me but the the value prop makes sense the restaurant saves about 30 percent by buying ugly produce the farm gets some revenue out of something that would otherwise be no revenue and they take their cut in the middle I like it what
1:54
do you think I like it now but let me I'm always being like the negative guy I like it but let me tell you okay I'm a subscriber to imperfect produce first of all it's not imperfect like that this is a stick of farm theory of them selling
2:15
like things that are ugly so what are you saying they look normal you're saying yeah it looks normal I mean it doesn't look like it's a it's a wonderful marketing scheme but is it's it's so like it's just normal [ __ ] right
2:30
right because I'm guessing you would not sign up for something that just says here's vegetable delivery it's like saying there's a famous copywriter named Joe Sugarman he wrote this great ad for a new cast is it called Cassio a Casio watch and he's
2:45
like we use space-age aluminum with quartz movement and [ __ ] every watch has that same aluminum and quartz movement is used in nearly every single watch he just explained it in a great way and so this is a this is the same thing with
3:01
these guys and it's a stick that works it's a real it's like it's like Guiness Guiness putting a ping-pong ball in their beer I don't know about that what is that Guinness beer if you buy it in the can there's a ping pong ball in it
3:15
because apparently that ping pong ball has a little bit of night as if nitric oxide some type of like gas in there that keeps it super fizzy I see okay and when they release that ball it like went up big-time I love it yeah so this is great
3:33
marketing I'm into it I don't know anything about India so it's hard for me to say that but I do know that I just googled it imperfect produce they have two hundred thousand subscribers and wouldn't pay per month roughly it's a weekly bill I
3:49
think I was paying $200 a month Wow so incredible yeah big market so yeah III think it would depend on how talented these entrepreneurs are but you definitely can build something significantly significant here right [Music]