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.
My Stepdaughter Surprised Me with a Car for My 55th Birthday, Discovering What Was Inside the Glove Box Left Me Speechless
Receiving a car from my stepdaughter, Emily, on my 55th birthday was the last thing I expected, especially given our rocky relationship. She handed me the keys and mentioned there was another surprise in the glove compartment. What I found inside changed everything between us.
Being a stepmom often feels like a balancing act, trying to be a parent without overstepping boundaries. For ten years, I navigated this tightrope with Emily. I met her father, David, at work, and after becoming friends, we started dating. He had lost his wife a year before we met, and his focus was on Emily, his cherished daughter. As our relationship deepened, I wondered about our future together. David expressed his love for me but worried about how Emily would react to a new stepmother.
When I married David, I knew it would be complicated. Emily was only 12 and still grieving her mother. My first meeting with her was tense; she barely spoke and quickly retreated to her room. This set the tone for our relationship. I tried my best to connect, but she remained distant, polite but always keeping me at arm’s length.
I remember putting together a surprise party for her 13th birthday, hoping it would help us bond. Although she smiled at the decorations, she still held back emotionally, creating a barrier between us. Despite the challenges, David and I were happy together. However, everything changed when David died in a car accident five years ago, leaving Emily and me to navigate our grief alone.
In that dark time, I promised to be there for Emily. But even as we became each other’s only family, I sensed that she merely tolerated me. As she grew more independent, starting a career in marketing, our interactions felt more like a formality than a genuine connection. I longed for a warm relationship, but it often felt one-sided.
Last Thanksgiving was particularly hard; Emily barely acknowledged me at a family gathering, deepening my feelings of being an outsider. So, when Emily called just before my birthday to take me out for a special dinner, I felt a flicker of hope. She picked me up in a sleek red convertible, and I thought it might finally be a sign of her acceptance.
When she handed me the keys, her voice felt distant and flat, almost like she was just fulfilling an obligation. I managed to thank her, but the dinner felt awkward and forced. It was hard to shake the feeling that the car was more of a way to alleviate her guilt than a genuine gift.
As we parked, Emily mentioned another surprise in the glove compartment. My heart raced as I opened it, revealing a stack of drawings from her childhood. My breath caught as I saw the stick-figure versions of us, with me labeled as “Mom” and captions like “Mom and Me”.
Tears filled my eyes as the realization hit: Emily had seen me as her mom all along, despite the distance between us. When I expressed my shock, she admitted she loved me but felt guilty calling me “Mom” because of her birth mother.
In that moment, the walls that had stood between us for years crumbled. We embraced tightly, tears streaming down our faces. That evening, we shared everything—our fears, doubts, and cherished moments. Finally, I felt the deep bond of a mother and daughter.
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