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.
Wоmаn triеs tо tаkе hеr sеаt оn а рlаnе – but shе rеfusеs, аnd whаt hарреns nехt hаs thе intеrnеt is dividеd
A woman’s plane journey turned uncomfortable when she refused to give up her extra paid seat for a fellow passenger’s toddler. The woman, who usually books an extra seat for her comfort due to her size, found herself next to a mother and her 18-month-old child. The mother asked her to squeeze into one seat so her toddler could have the extra one, but the woman declined, explaining she had paid for both seats.
A flight attendant intervened and suggested the mother hold her child in her lap as most young children do. Throughout the flight, the mother made the woman uncomfortable with dirty looks and passive-аggrеssivе remarks.
The woman later sought opinions on Reddit, where people generally sided with her. Many criticized the mother for not buying a seat for her child and assuming someone else would give up theirs. Some empathized with the mother’s desire for a comfortable flight but noted that she should have prioritized buying a seat for her child.
In this debate, opinions vary, but many support the woman who paid for her extra seat, highlighting the importance of respecting each passenger’s choices and reservations.
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