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.
My Sister Billed Me $2,145 for the Surprise Birthday Party She Planned for Me – I Was Ready to Pay Until I Looked Inside Her Wallet
Christina’s 29th birthday took an astonishing twist when her sister hosted a surprise party for her, then presented her with a bill for $2,145. Shocked and caught off guard, Christina was left speechless, her evening ruined by this financial revelation. But karma had another surprise in store, turning the situation on its head.
Hey everyone, I’m Christina! I celebrated my 29th birthday last week, and believe me, it’s a birthday I’ll remember for all the wrong reasons. Quick question: How would you react if you were asked to pay for a surprise you never requested? Because that’s exactly what happened to me…
Birthdays haven’t been my thing lately. I’ve been dealing with some severe skin problems that require treatment, and as you can guess, those medical bills are no joke. Plus, the constant pressure of rent meant that having a big celebration wasn’t something I could afford this year.
I was perfectly okay with that, though. A quiet evening at home with a cake and some Netflix sounded ideal to me.
So, picture my surprise when my sister Lori called me two days before my 29th and asked about my birthday plans. Now, Lori and I are close, but she can be a bit over the top sometimes.
“Hey Lori,” I said, balancing the phone between my ear and shoulder while folding laundry. “Honestly? Probably nothing. I need to save money for those annoying medical bills, you know the drill.”
There was a moment of silence on the other end, and for a second, I thought the call had cut out. Then, Lori sighed. A big, dramatic sigh like the kind you make when you find out the bakery is out of croissants.
“Oh, honey,” she said in a sympathetic tone. “That’s so sad. Birthdays are meant to be special! You can’t just skip yours entirely.”
“It’s not like I’m skipping it completely,” I argued while hanging a shirt on the line. “I’m just keeping it simple. Just me and…you know…some beer, maybe some cupcakes.”
And that was it. She sighed and hung up. The rest of the week dragged on, each day inching me closer to an uncertain birthday outcome.
Finally, the big day came. My phone buzzed with birthday messages from friends and even a few colleagues, which was nice. Then, around noon, my phone rang. It was Lori.
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