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.
An exciting adventure. Try to find the hidden differences in the “Cowboy” picture in 12 seconds
Get ready for an exciting visual adventure as you explore the nuances of what seems like an identical image. In the scenario of this courtroom drama, we see a young man dressed as a true cowboy, ready to take on any challenge that the Wild West may bring. Can you determine what makes this cowboy scene unique?
It took me a while to strain my eyes and embark on a journey to discover the uniqueness hidden in this cowboy setting.
So, are you ready to test your skills and uncover the mystery of this difference?
Now it’s time to find out what this difference is, which is striking and incomprehensible!
The difference separating the two images may lie in a barely noticeable detail that often escapes the first glance. It’s amazing how our eyes can deceive our perception, which is why such tasks are so exciting.
So, did you manage to find the difference? Write to us in the comments!
Let’s now solve the mystery of this difference together and celebrate the insight of each of you!
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