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.
Clint Eastwood heartbroken by his family at age ninety-four. Fans are now in disbelief
The iconic actor’s daughter, Kathryn Eastwood, stirs up controversy on social media with an outburst.
At Clint Eastwood’s daughter Morgan Eastwood’s wedding in Carmel, California, over the weekend, a joyful celebration swiftly descended into an emotional maelstrom. Family strife that erupted during the event at Clint’s opulent house was a social media mess.
Another of Clint’s daughters, Kathryn Eastwood, shared a heartwarming video of herself dancing with her father, who is 94 years old. Her caption, “Had to dance with my dad for 50 f**king seconds before we were interrupted,” however, indicated underlying tensions. Kathryn began expressing her feelings publicly on the internet with this post, which was just the start of her online outburst over her family.
“I had to break up with my sister Morgan after her wedding because she’s so concerned with her reputation that she called me ‘insane’ online for the world to hear,” Kathryn said in a particularly emotional post that included Morgan. My capacity to become a mother and have children has been hampered by this, so I need to guard against this monster’s image-driven behavior to spare myself more grief.
Amid a family dispute, Dina Eastwood threatens to file a lawsuit.
When Dina, Kathryn’s stepmother and Clint’s ex-wife, threatened to take legal action if Kathryn didn’t take down the offensive posts, things got out of hand.
“I will give you until tomorrow morning, then I will use the money I stole from your father in your words and file a lawsuit against you,” Dina declared. In a defiant response, Kathryn called Dina a “gold digger” and implied that her fears about inheritance were the source of her actions.
Rather than back off, Kathryn called Morgan “the cruelest most shallow superficial woman I have ever known,” ratcheting up her insults.
What was supposed to be a happy event has been clouded by this well publicized family fight. With his aging and palpably fragile appearance, Clint Eastwood and his normally private family are becoming the focus of intense media scrutiny.
Leave a Reply