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 Parents Didn’t Show up for My School Graduation — Their Excuse Is Ridiculous
This story paints a bittersweet picture of resilience in the face of repeated disappointment, highlighting how family isn’t always defined by blood but by those who show up when it matters. Britt’s experience with her mom and stepfather is heartbreaking—they consistently let her down over trivial issues, never recognizing the significance of her accomplishments or the impact of their absence. Through it all, though, Justin and his family became Britt’s true support system, stepping in when her own family couldn’t.
Her decision to distance herself after her high school graduation showed strength, and yet, years later, her willingness to give them another chance speaks to her forgiving nature. Unfortunately, the second letdown underscored a painful truth: some people, no matter how much you hope or forgive, will not change their priorities.
Britt’s journey reminds us that we don’t have to keep waiting for people who continually disappoint us. The relationships we choose can be just as strong and meaningful as those we’re born into. It’s a story of finding strength in oneself and in those who truly show up, and a reminder that we have the right to redefine family to include those who respect and support us.
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