Colorado Comeback Money winner Pete Vegas has sustainable agriculture plan for cash

By Alex Edwards

Boulder has new comeback cash winners in Colorado’s seed lottery. Pete Vegas received $ 1 million in prize money and Levi received a $ 50,000 scholarship as part of ongoing efforts to mitigate the economic impact of the COVID-19 pandemic.

The winners were announced at a press conference held by Governor Jared Polis on Friday, streamed on Facebook. See below bit.ly/3vzGJs9. Since Levi is only 13 years old, his last name has not been disclosed.

Vegas owns Sage V (pronounced Sage Five) Foods, which specializes in making rice-based ingredients for processed foods. As a private individual, Vegas didn’t want to talk about its profits.

However, he was more than happy to talk about his plans for the money. Vegas is passionate about the environment and as a professional farmer he recognizes the negative impact modern agriculture can have on it.

“I plowed the land I had at least five times a year,” he said. “People are still following these practices and have reduced the organic matter in the soil over time.”

Organic matter contains a lot, which brings with it two problems: Plants need carbon to grow, among other things, but plowing the land disrupts and displaces the carbon that is then released into the atmosphere.

According to the Organization for Economic Co-operation and Development, agriculture can cause up to 31% of greenhouse gas emissions. Vegas plans to use some of the money won to subsidize regenerative farming for some of the farms growing for its business to help reduce that impact.

“It (regenerative agriculture) is trying to restore the soil, and it is trying to pull carbon out of the air and put it back into the ground,” he said.

And it’s not just a fad: Regenerative agriculture works.

However, widespread adoption could be an uphill battle due to government funding and policies favoring other crops like corn and soybeans. In addition, the cost of adopting regenerative agriculture will be high, simply because there is no one-size-fits-all approach.

“If you go south, where you have a lot more moisture, you have a much larger weed population, a population of insects,” he said. “Whoever does it first will lose money because we don’t know how to do it. It’s going to be an experiment. “

This is where the Colorado Comeback Cash Money comes in. Vegas said he plans to work with farmers who grow for him to test regenerative agriculture using rice crops. He plans to pay them whatever they lose during the experimental cultivation.

“It doesn’t get any government aid,” he said. “If you are interested in regenerative ag, you are on your own.”

While members of Vegas’ own older generation are more skeptical of the practice, he said that young members are open to the opportunities the practice offers.

On vaccines and public health, Vegas expressed its frustration at how superficial concerns about the vaccine appear to be. In his opinion, vaccines are viewed as something to prevent an individual from getting sick rather than for the good of the nation and the world.

“It’s not just about protecting yourself,” he said. “It’s a really selfish attitude. This is a situation where people have to think about the whole thing; You have to think of other people and what we can all do together to eradicate such a disease. “

Smallpox was eradicated by vaccination and declared eradicated in 1980 by the World Health Organization.

“Everyone’s talking about, ‘Oh, it’s safe,’ or, in this case, ‘If you get your vaccine, you might make some money,'” he said. “We’re all trying to come together and turn this disease off, and that can’t happen if some people hold back.”

Databricks on monitor for $1 billion in 2022 income: Pete Sonsini, NEA

Ali Ghodsi, Co-Founder and CEO of Databricks.

Databricks

The San Francisco-based start-up Databricks quickly grew into a respected provider of cloud software for managing data on behalf of companies. Doubling the income on an annual basis. Then came the coronavirus pandemic.

The health crisis has weighed on the film, hospitality and travel sectors of the economy. For the tech industry, however, Covid proved to be a melting pot, revealing which technologies were necessary and which were not.

“There was a bit, maybe a month or two, where everyone was frozen in time as to what was going to happen,” said Pete Sonsini, an investor at New Enterprise Associates who joined Databricks’ board in 2014.

After this first phase, according to Sonsini, companies rushed to analyze data in the cloud to unlock computing resources without having to worry about managing the infrastructure in their own data centers.

“They have definitely accelerated through the pandemic,” he said, adding that the acceleration will continue through 2021. Now the company will generate sales of at least $ 1 billion in 2022.

Databricks said in February it did raised $ 1 billion at a valuation of $ 28 billionwith the three leading US cloud infrastructure providers – Amazon, Google and Microsoft – all participate. Investors were keen to put $ 2-3 billion in Databricks during the funding round, CEO Ali Ghodsi told CNBC at the time.

Databricks is increasingly looking for companies like Snowflake that offer data warehouse products that are used by large companies to store data from various sources, Sonsini said. In September, Snowflake made a Monster debut on the New York Stock Exchange, which ended its first day of trading with a market cap of $ 70 billion, down from $ 12 billion seven months ago. The stock has lost some of the momentum it gained after going public, but it’s still worth more than $ 60 billion.

Snowflake’s sales growth accelerated when the pandemic first hit. Growth has slowed since then, although the company still is Doubling the income every quarter, which is an obvious competitive goal.

Snowflake and Databricks initially focused on different things. Engineers relied on Databricks to cleanse large amounts of data and prepare it for analysis, while data analysts often looked to Snowflake to query the data and learn more about it. But the two have gotten closer. Databricks introduced in November technology to query data stored in its software using the popular SQL query language.

In 2019, when Snowflake appointed former ServiceNow CEO Frank Slootman to succeed former Microsoft CEO Bob Muglia as CEO of Snowflake, Muglia’s Separation Agreement said he couldn’t work with Databricks – or with the world’s leading cloud infrastructure companies. “They were a great partner but wanted to do more of what we do,” said Mike Scarpelli, CFO of Snowflake, in a fireplace chat hosted by JMP Securities in March.

It has come to the point that the data science consultancy Datagrom a blog entry in November titled “Snowflake vs. Databricks: Where Should You Put Your Data?” The picture at the top of the post was a Venn diagram showing what the two companies have in common.

Ghodsi tried to differentiate Databricks from its competitors on his CNBC appearance in February. With Databricks, clients do not have to copy data into their software in order to work with it. Instead, data can stay where it already is, such as in Amazon Web Services’ widely used S3 object storage system, and Databricks can continue to process the data, he said.

Senate confirms Pete Buttigieg as Transportation secretary

Pete Buttigieg speaks at the Senate Commerce, Science, and Transportation nomination hearings to review his awaited nomination for Secretary of Transportation in Washington.

Ken Cedeno | Reuters

The US Senate confirmed Pete Buttigieg as Secretary of Transportation on Tuesday and presented the former presidential candidate with a host of challenges – from the President Joe BidenEnvironmental priorities of the Covid-19 pandemic.

Buttigieg, the former mayor of South Bend, Indiana, got approval last week following largely approval from the Senate Committee on Commerce, Science, and Transportation friendly listening. He was asked about issues related to Covid-19, the much-needed improvement in infrastructure, and strengthening the powers of the Federal Aviation Administration if he were to lead the DOT, which has 55,000 employees.

In the first two weeks, Biden’s government has already taken strict measures regarding transportation measures to contain the spread of Covid-19. Biden extended an entry ban for most non-US citizens who have recently been to Brazil, the UK and much of Europe. On Tuesday, the US government asked passengers to wear masks on planes, trains, buses, ferries and other means of transport.

Buttigieg’s DOT could become a driving or limiting force in the adoption of new technologies, especially autonomous and electric vehicles.

Biden has already directed federal agencies to consider revising the Trump administration’s lowered fuel emissions standards. He also said he plans to replace the government’s fleet of cars and trucks with U.S.-assembled electric vehicles

The 39-year-old will be the first openly gay person to hold a cabinet position and one of the youngest ever.

– CNBC’s Michael Wayland contributed to this article.