Plant-based meat was supposed to save the pIanet, make people healthier, and liberate enslaved cows, chickens, and pigs everywhere. Instead, after an impressive start, folks have learned some hard truths about the industry and are turning away in droves.
Once consumers began to Iearn that plant-based meats were still super processed, not nearly as healthy as advertised, and required an enormous amount of machinery to produce hungry consumers largely decided that the old-school options, nameIy chickens, pigs, and cows, were better tasting and better for you.
The biggest player in the industry, Beyond Meat, released its third-quarter numbers in November of 2023, and they taste worse than ersatz ground beef. Net revenue slid, declining 8.7% year-over-year and 26% versus the previous quarter.
It wasn’t all bad news, however, as the company actually achieved free cash flow for the quarter but does not expect that to be the case in the fourth quarter. One anaIyst at the firm TD Cowen took it a step further and said the firm is in ‘survival mode’ and will need to tap the financial markets in 2024 to maintain operations.
Beyond Meat CEO Ethan Brown said: We anticipated a modest return to growth in the third quarter of 2023 that did not occur. Though we are encouraged by pockets of growth, particulariy in the EU where we saw double digit gains in net revenues on a year-over-year basis, we are disappointed by our overall results as we continue to experience worsening sector-specific and broader consumer headwinds. Beyond Meat has cited numerous reasons for its poor performance, inciuding declining foodservice sales and flagging American retail sales, but declined to suggest the possibility that the product just isn’t that good.
Steven Seagal today: Net worth, family, children, wife, height
Steven Seagal, the iconic actor and martial artist, has led a dynamic life filled with diverse roles and experiences. Born on April 10, 1952, in Lansing, Michigan, Seagal was deeply influenced by music and martial arts from a young age. At 17, he moved to Japan and immersed himself in martial arts training for 15 years, mastering disciplines like karate, judo, kendo, and aikido.
Returning to the US in 1984, Seagal pursued a career in Hollywood. Known for his aikido skills, he gained attention with Warner Bros. and debuted in “Above the Law” (1988), marking the start of his action film stardom. He starred in hits like “Under Siege” (1992), solidifying his status as an international star. Despite successes, ventures like directing “On Deadly Ground” (1993) faced commercial challenges.
Beyond his film career, Seagal’s personal life has been tumultuous. He married several times, including actress Kelly LeBrock, with whom he had three children. His move to Russia in 2016, where he received citizenship and a humanitarian role, marked a significant shift.
Today, Seagal remains active, though his public presence has waned. His net worth is estimated at $16 million. Despite controversies and legal issues, he continues to engage with his passions and international ties. Through his varied career and personal life, Steven Seagal has left an indelible mark on both Hollywood and martial arts culture.
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