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 Found Out My Daughter-in-Law Uses Trips to My House as a Punishment — So I Came Up with a Smart Strategy
Upon learning that her daughter-in-law sends her grandchildren to her as a form of discipline, Gina feels both upset and determined. Instead of reacting angrily, she makes sure her home is a safe haven for her grandchildren. Eventually, she decides to teach her daughter-in-law an unforgettable lesson.
“We are only here because you ate that candy that Mom was saving for Dad, Jacob. Mom told you not to!” I overheard my grandson, Thomas, telling his younger brother.
I paused in the kitchen, torn between the fridge and the counter, straining to catch more of their conversation. My heart sank, dreading that I had heard Thomas correctly, as it could mean my grandchildren weren’t genuinely eager to visit me.
I walked towards them slowly, trying to act casual.
“What do you mean by that, sweetheart?” I asked.
Thomas looked up, eyes wide in surprise.
“Uh, nothing, Grandma,” he said quickly.
No, really, it’s okay,” I gently insisted, kneeling down to their level. “You can tell me anything.”
Thomas glanced at Jacob, who nervously bit his lip while gripping his toy.
“Well, every time we do something naughty, or we ask for things we shouldn’t…” Thomas hesitated.
“Yes, go on,” I encouraged gently.
“Mom says that she’ll send us to ‘that witch’s house.’”
“That witch?” I repeated, stunned.
Amanda, my daughter-in-law, had always been somewhat cold to me, but telling the kids such stories? It was heartbreaking. I had always tried to create a welcoming and safe space for my grandchildren.
But this?
Realizing Amanda was turning them against me was more than I could bear. I took a deep breath and tried to steady my voice, wondering what my grandchildren truly thought of me.
“Oh, honey,” I said. “I never wanted you to think of my home as a punishment. If you don’t want to come here, you don’t have to.”
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