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.
Woman Leaves Newborn on Business Class Plane Seat, Decides to Find Him 13 Years Later
Rhonda’s life took an unexpected turn when she discovered she was pregnant. Her father, David Harris, was outraged upon learning the news. Coming from a wealthy family, Rhonda had been provided with everything by her father, who owned a large textile company. However, he was a controlling man who couldn’t accept the idea of his daughter raising a child with Peter, her boyfriend, who came from a lower-class background.Despite her father’s orders to terminate the pregnancy, 16-year-old Rhonda refused. Faced with her father’s ultimatum to either abort the baby or leave the house, Rhonda chose to leave. She packed her belongings and sought refuge with Peter, only to face another crushing blow—
Peter refused to take responsibility for the child and ended their relationship. Devastated and homeless, Rhonda wandered the streets, her life in shambles. As fate would have it, Rhonda went into labor on the streets, and a kind woman named Angela Bamford came to her aid, rushing her to the hospital. Rhonda gave birth to a baby boy, but her situation remained dire. Angela, who had lost her own daughter under similar circumstances, sympathized with Rhonda and offered to help her. Angela booked Rhonda a business class ticket to New York, hoping she could start anew there. During the flight, Rhonda was consumed by doubts and fears about her ability to care for her newborn. Overwhelmed by anxiety, she made the heartbreaking decision to leave her baby on the plane, hoping that someone would find him and give him a better life. She left a note with the baby, naming him Matthew Harris, and walked away, leaving her child behind.Years passed, and Rhonda struggled to rebuild her life. After nearly a decade of hardship, she finally secured a stable job and a place to live. However, the guilt of abandoning her son haunted her daily. Determined to find Matthew and make amends, Rhonda sought help from the police. To her relief, she discovered that her son had been adopted by Lincy, the flight attendant who had found him, and her husband. Rhonda reached out to Matthew’s adoptive mother and shared her story, hoping for a chance to meet her son. When Rhonda finally met Matthew, now 13 years old, he was furious and rejected her. He couldn’t understand how his biological mother could have abandoned him. Despite Rhonda’s attempts to explain, Matthew couldn’t bring himself to accept her as his mother. With time, however, Matthew softened. Though he initially refused to call Rhonda “mom,” he agreed to let her visit him on weekends. Over the next ten years, their relationship gradually improved. Matthew, now 23 and working as a data scientist in New York, forgave Rhonda and accepted her as his mother, understanding that her actions were driven by desperation.Rhonda’s life has continued to change. She recently started dating a man named Andrew and is considering marriage, but she wants to discuss it with Matthew first. She also reconnected with Angela Bamford, who was pleased to see that Rhonda’s life had finally come together. Through perseverance and the support of those around her, Rhonda was able to rebuild her life and mend her relationship with the son she had once thought she’d lost forever.
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