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.
A MAN QUICKLY REGRETS THE NIGHT HE SPENT WITH A BEAUTIFUL GIRL
Have you ever been in a situation where you weren’t happy with a purchase and wanted a refund or some form of satisfaction? Well, a young man experienced just that, and it’s humorously recounted in a story. When he agreed to spend the night with a woman for $500, he found himself dissatisfied and decided to take action.
Life doesn’t always go as planned, and sometimes, our attempts to rectify a situation can lead to unexpected surprises. This man in the story learned this lesson when he received a response to his letter.
Ayoung man met a beautiful girl and agreed to spend the night with her for $500.
So they did. Before he left, he told her that he did not have any cash with him, but that he would have his secretary write a check and mail it to her, calling the payment
“RENT FOR APARTMENT.”
On the way to his office, he regretted it and decided it wasn’t worth the price. So, he had his secretary send a check for $250 and enclosed the following note:
“Dear Madam,
Enclosed, find a check in the amount of $250 for rent of your apartment. I am not sending the amount agreed upon because when I rented the apartment I was under the impression that:
It had never been occupied
That there was plenty of heat
That it was small enough to make me cozy and feel at home.
Last night, however, I found it had been previously occupied, that there was no heat, and it was entirely too large.”
Upon receipt of the note, the girl immediately returned the check for $250 with the following note:
Dear Sir, first of all, I cannot understand how you expect a beautiful apartment to remain unoccupied indefinitely.
As for the heat, there is heat if you know how to turn it on.
Regarding the space, the apartment is, indeed, of regular size, but if you don’t have enough furniture to fill it, please don’t blame the landlady!
Please be so kind as to send a check for the full amount of $500, or I’ll be forced to contact your current landlady.
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