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.
Husband receives photo from his wife, he can’t believe it
My phone buzzed on a normal Tuesday afternoon, alerting me to a message from my wife Emma. After ten years of marriage, our bond was based on respect, trust, and love. However, this message would rock our marriage to its core.
“Hey, sweetheart! She wrote, “Check this out! I’ve attached a photo.” I was surprised to find Emma with noticeably larger breasts—something we had never talked about—instead of a happy selfie.
I gave her a call right away. “What is this, Emma?” How come you didn’t tell me about this?
She said, “Oh, I thought it would be a nice surprise,” in a casual way. Do you not find it appealing?
“A revelation? This is significant surgery, Emma! How were you unable to talk to me about this? Shaking my voice, I questioned.
“I didn’t believe it to be all that significant. She answered, “I wanted to feel better about myself.
Her remarks hurt. Our trust, which had grown over a decade ago, was broken.
Days later, I came to the conclusion that such a betrayal of trust could not last in a marriage. Emma became combative, adamant that it was her decision and her body.
Although our divorce was painful, it was a sign of a larger problem with misplaced trust.
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