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.
A woman hid several boxes in her attic from her husband for 40 years
For forty years, a woman kept multiple boxes hidden from her husband in the attic.
The wife eventually gave in to the man’s urging and allowed him to open the boxes one day, but when she discovered what was inside, she was horrified and started crying.
Kris Bresnan, an American woman, withheld a secret from her spouse for forty years. It was finally time for her husband to discover what was inside all the boxes that had been kept in the attic for so long.
The two decided to take a vacation away from the bustle of busy New York City after falling in love in 1975, which is truly when the narrative of the boxes began.
When Kris’s husband Bill handed her a napkin during the holidays, she told him it was the finest thing that had ever happened to him and that he loved her. At the end, he wrote the symbol for infinity. That day, they were laughing and playing.
Bill has developed the habit of surprising his wife on a daily basis with a letter, a love note, or postcards that convey his emotions for Kris, the most cherished person in his life. He surprised his wife every day for forty years.
Unaware that Bill had been giving him notes and letters for forty years, Kris preserved them all and stashed them in the attic in no fewer than twenty-five large boxes.
When the couple celebrated their 40th wedding anniversary, Kris told her husband the real reason she had forbidden him from going up to the attic to check inboxes.
He was unable to speak when he was told to look into the boxes. He had no idea that his wife would hide all those letters there and retain them for so long.
Unable to find the right way to express his gratitude for this amazing occurrence, the man broke down in tears and gave his wife a hug. That holiday, the two read aloud to each other the things Bill had said to Kris over the years in a private location. Meanwhile, they celebrated their 40th anniversary in style and relived priceless moments.
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