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.
Poor Old Lady Rejected in Business Class Until a Photo of a Little Boy Falls from Her Handbag
An elderly woman named Rhea longed to reconnect with her son, so she decided to fly in business class, hoping to get closer to him. On the day of her flight, she felt nervous as she boarded the plane and took a seat among wealthy passengers. Wearing her best but worn clothes, she stood out, attracting disapproving looks from those around her.
Once seated, a man beside her noticed her and reacted with disgust. He called a flight attendant, complaining about her presence. Other passengers joined in, expressing their desire for Rhea to leave, claiming she didn’t belong in business class. Despite their harsh words, Rhea remained calm and told herself that things would get better, even as tears streamed down her face.
Feeling humiliated, Rhea decided to leave and began gathering her belongings. As she stood up, she stumbled and fell to her knees, scattering the contents of her purse. Instead of helping her, the man beside her stepped back, but an elegant older woman came to her aid, kneeling beside her.
The atmosphere shifted as the woman picked up a photo of a young boy from Rhea’s bag. Rhea shared that the boy was her son, whom she had to give up for adoption when he was five due to financial struggles. She had been searching for him for years and had finally learned he was now a pilot. To be closer to him, she saved money for this flight, which she saw as a birthday gift for herself.
As Rhea spoke, the passengers listened, and many were moved to tears. The mood in the cabin changed, and those who had mocked her began to feel ashamed. After sharing her story, Rhea gathered the courage to meet her son, who was piloting the plane.
When he announced over the intercom that his mother was on board for her birthday, the passengers applauded, and those who had previously criticized Rhea apologized. Finally, after years apart, Rhea was reunited with her son, Joseph, embracing him tightly.
This story teaches us the importance of kindness and perseverance. It shows that standing up for others can change lives and that never giving up on what matters most can lead to beautiful reunions. Share this story to inspire others and brighten their day.
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