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.
Living Across from a Cemetery, I Saw a Baby Left by One of the Graves on Halloween Night — Story of the Day
On Halloween night, I thought I’d just be handing out candy, but I saw something I never expected—a baby, alone in a car seat by a grave. I rushed outside, heart racing.
Halloween had always been my favorite. I loved decorating and handing out candy. But two years ago, I lost my daughter, and with her, my husband. Now, I was alone.
That night, after the candy ran out, I saw the car seat. I approached it, finding a baby girl inside. There was a note: “Amanda, one and a half years old.” I called the police, but no one had reported her missing. I asked if I could take her home. They agreed.
Caring for Amanda was hard, but I fell in love with her. She filled the void in my life. Then, one morning, a knock on the door brought a police officer and Amanda’s grandmother, Carol, to take her back. Reluctantly, I handed Amanda over, my heart breaking.
Later, I realized Carol had abandoned Amanda. I called my ex-husband, John, for help. We took Carol to court and won custody. I was granted permission to adopt Amanda.
As John walked away after the trial, I called him back, asking him to join us for dinner. That night, I became a mother again, and hope returned. Halloween had brought me Amanda.
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