3c hapter - Index of
3c hapter - Index of
3c hapter - Index of
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154 Locavesting<br />
is,” says Lindstrom, who has pledged to invest a large chunk <strong>of</strong> his<br />
wealth in small scale, sustainable agriculture. “My principle desire is<br />
to make change. And shifting money towards sustainable enterprise<br />
and local business would have a huge impact.”<br />
Lindstrom, a grandson <strong>of</strong> David Rockefeller, has unique motivations<br />
as well. When Standard Oil, the source <strong>of</strong> his family’s vast<br />
wealth, was broken up in 1911, much <strong>of</strong> the stock was transferred to<br />
the Rockefeller Foundation. The foundation, he says, had a hand in<br />
promoting modern petroleum- based agriculture—synthetic fertilizer<br />
and pesticides and seeds that were resistant to them—which (not<br />
coincidentally, he believes) benefi ted Standard Oil founder John D.<br />
Rockefeller’s remaining oil interests. “I’m very aware <strong>of</strong> my family<br />
connection to the oil paradigm,” he says. “I’ve fi nancially benefi ted<br />
from it, but I’m also inheriting a world that is falling apart.” That<br />
karma, he says, fuels his desire to help move the economy toward<br />
renewable energy and sustainable practices. Still, he says, investing<br />
in local agriculture takes a huge amount <strong>of</strong> work. And it can feel like<br />
taking a leap into the abyss. “It’s always that way when you are taking<br />
money from something secure to something more risky.”<br />
The economics <strong>of</strong> food and agriculture may pose special challenges,<br />
especially for investors who are not Rockefeller descendants.<br />
The wider returns are <strong>of</strong>ten a key part <strong>of</strong> the equation. But that<br />
doesn’t mean there are not high- growth businesses with the potential<br />
to richly reward investors who take a chance. One need look no<br />
further than Ben & Jerry’s, Stonyfi eld Farm, Niman Ranch, Whole<br />
Foods, or Odwalla, among many other success stories, to see that the<br />
food and ag sector can spawn high- growth, high- pr<strong>of</strong>i t companies.<br />
These enterprises all had clear values. But they were all well positioned<br />
for growth and run by management that could execute on the<br />
opportunity—with the help <strong>of</strong> a little creative fi nancing. Amid clamoring<br />
demand for everything local, organic, and sustainable, there is<br />
fertile ground for a new generation <strong>of</strong> break out successes.<br />
A Dairy Farmer’s Financial Education<br />
I fi rst met Dante Hesse, the subject <strong>of</strong> this book’s introduction,<br />
at the Slow Money gathering in Santa Fe. I had the sense that<br />
he’d rather be tending to his herd, but there was a determination