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.
“Is This a Joke?” Princess Catherine’s New Portrait Is Revealed — People Are Furious
A newly unveiled portrait of Princess Catherine on Wednesday divided opinions and sparked a range of reactions from royal fans. The controversial portrait has left some confused or even furious.
The artwork, created by British-Zambian artist Hannah Uzor, graced the cover of Tatler magazine’s July 2024 issue as part of a series showcasing portraits of the royal family.
Uzor seemed to draw inspiration from the Princess of Wales’ attire at a state banquet in November 2022, which was the first held under King Charles’ reign.
Middleton, 42, attended the event wearing a white, floor-length gown adorned with crystal-covered shoulders and billowing sleeves.
Speaking of the portrait, the artist has noted, “I spent a lot of time looking at her, looking at her pictures, watching videos of her, seeing her with her family, seeing her in diplomatic visits, seeing her when she’s rowing or visiting children in hospice.”
Fans online had mixed reactions upon seeing the painting. Although the post garnered several thousand likes, many expressed their confusion about the artwork.
One person wrote, ”What a horrible portrait for a beautiful Woman,” while another observer simply asked, ”Is this a joke?” A third added, ”My 9-year-old granddaughter could probably have made a better job. It’s awful.”
A few weeks ago, the Prince and Princess of Wales marked their 13th anniversary with a previously unseen photo, but one detail raised suspicion. Check it out here.
Preview photo credit PA Images / Alamy Stock Photo, PA Images / Alamy Stock Photo, tatlermagazine / Instagram
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