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.
I Took My Fiancé to Visit My Parents — He Ran Out Screaming ‘I Can’t Believe It!’ in the Middle of the Night
I’ve been with my fiancé for six years, and we were supposed to get married next month. But during a visit to my parents, he discovered their secret lifestyle, causing him to question our relationship too.
I’ve been with my fiancé for six years, but we’ve known each other for nine. We were supposed to get married next month, but then everything changed the course of our wedding journey.
We went to visit my parents to introduce him to more of my extended family before the wedding. My parents offered to host us, and we’ve been staying in my old room for the sake of nostalgia.
My fiancé, Adam, wanted to stay at a hotel, but I thought it would be fun to just have him share my old room with me.
“I don’t see why staying in your childhood home is going to change anything,” Adam told me when we were packing for the trip.
“Because it’s going to be my last time with my parents under their roof before I become a married woman. It’s going to be a sentimental moment,” I replied.
“If it gets uncomfortable, I’m just going to check myself into a hotel,” he said casually.
Of course, I didn’t expect what would happen next.
We got to my parents’ home, and everyone was excited to see us. My mother and aunt had cooked up an elaborate meal for us, ready to just sit down at the table and get to know Adam better.
All through dinner, everything went as well as expected, and Adam happily enjoyed having the attention centered around him.
We spent the rest of the week at my grandmother’s house, trying to finish the family visit in the best spirits we could muster. My parents apologized to Adam, but it didn’t matter anymore.
It wasn’t about them. It was about the fact that their actions had triggered my fiancé. On the drive home, Adam and I decided that we wanted to stay together and see where life took us.
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