Good morning to all new and old readers! Here is your Saturday edition of Faster Than Normal, exploring the stories, ideas, and frameworks of the world’s most prolific people and companies—and how you can apply them to build businesses, wealth, and the most important asset of all: yourself. 

Today, we’re covering Monsanto's journey from 1901 saccharin startup to GMO powerhouse and $66B Bayer buyout.

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In 1901, John Francis Queeny founded Monsanto Chemical Works in St. Louis with $5,000 borrowed from a soft drink distributor. The company's first product? Saccharin, an artificial sweetener. Not exactly glamorous.

Queeny, a 30-year veteran of the pharmaceutical industry, saw an opportunity. "I believed there was a market for saccharin," he later recalled. "And I was right."

But success didn't come easy. Monsanto struggled in its early years, barely breaking even. The turning point came during World War I when demand for their chemicals skyrocketed. By the 1920s, Monsanto was expanding into industrial chemicals like sulfuric acid and PCBs.

Edgar Monsanto Queeny, John's son, took over in 1928. Under his leadership, the company grew rapidly. "We're not just a chemical company," Edgar said. "We're solving problems."

One of those problems was agriculture. In the 1960s, Monsanto created a dedicated agricultural division. Their first major product? Agent Orange. Yes, that Agent Orange. It was a PR disaster waiting to happen.

But Monsanto pivoted. In 1976, they introduced Roundup herbicide. It was a game-changer. Farmers loved it. "Roundup made our lives easier," one farmer said. "It was like magic."

The real transformation came in the 1980s. Monsanto scientists were among the first to genetically modify plant cells. By 1996, they were selling genetically modified crops resistant to Roundup. Brilliant. Controversial.

"We're not just selling seeds," said Robert Shapiro, CEO in the late 1990s. "We're selling a whole new way of farming."

Monsanto's rise was meteoric. By 2005, they were the world's largest seed company. But with great success came great scrutiny. Critics accused Monsanto of creating "super weeds" and monopolizing the seed industry.

Hugh Grant, CEO from 2003 to 2018, defended the company's practices. "We're helping farmers feed a growing world," he said. "That's our mission."

Despite the controversy - or perhaps because of it - Monsanto continued to grow. In 2016, German chemical giant Bayer announced its intention to acquire Monsanto for $66 billion. The deal closed in 2018.

Today, Monsanto no longer exists as an independent entity. But its impact on agriculture is undeniable. From a small saccharin producer to a global agricultural powerhouse, Monsanto's journey was anything but ordinary.

"We changed agriculture," said Hugh Grant in his final interview as CEO. "For better or worse, that's our legacy."

Lesson 1: Turn your product into a subscription. Monsanto didn't just sell seeds. They patented them and made farmers sign agreements not to save and replant. This turned a one-time purchase into an annual subscription. Farmers had to buy new seeds every year. Genius. And controversial. But it worked. By 2016, Monsanto was the world's largest seed company.

Lesson 2: Control the entire ecosystem. Monsanto didn't stop at seeds. They created Roundup herbicide and then Roundup Ready crops resistant to it. They locked farmers into their whole system.

Lesson 3: Push the boundaries of IP. Monsanto aggressively patents its genetically modified seeds. They've sued farmers for saving and replanting patented seeds. Don Westfall, a biotech consultant, said: "The hope of the industry is that over time the market is so flooded [with GMOs] that there's nothing you can do about it. You just sort of surrender." It's a controversial tactic, but it's protected their market position. Think creatively about how to defend your innovations.

Lesson 4: When rebrands are required, move decisively. In the late 90s, Monsanto pivoted hard. They went from a chemical company to a "life sciences" company. It wasn't just a name change. They sold off most of their chemical businesses. Focused on biotech. It was a complete reinvention. Risky. But it paid off. Shapiro explained: "We recognized we had to change. Or become irrelevant."

That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.

Have a wonderful rest of week, all.

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