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.
At 100 years old, Jimmy Carter is nearing the final chapter of his life, with loved ones by his side during this time.
On October 1, Jimmy Carter celebrated a major milestone, becoming the first U.S. president to reach 100 years old. While his family honored this remarkable moment, his grandson shared that Carter is now “very limited in what he can do,” reflecting on the final stages of his life’s journey.
Friends and family gathered in Plains, Georgia, Carter’s hometown, to celebrate his birthday, marking the first one without his wife Rosalynn. President Joe Biden sent a heartfelt message, acknowledging the bittersweet occasion, reminding Carter that even though Rosalynn passed away, she remains with him in spirit.
The milestone celebration took place at the home Carter and Rosalynn built in the 1960s, where Carter has been in hospice care. His grandson Jason shared that this home has always provided Carter with the most comfort and support, and there is no other place where he’d want to spend these final moments.
Jason also spoke about the difficulty his grandad has faced since Rosalynn’s death, after 77 years of marriage, noting that no one can fully understand what Carter is going through. He emphasized the importance of accepting that this stage of life is deeply spiritual and beyond full comprehension.
At the birthday celebration, Carter’s son Chip and other family members enjoyed cupcakes on the lawn while World War II planes flew overhead in honor of the former president. Chip mentioned that Carter is still engaged and intends to live long enough to vote in the upcoming election, showing his continued dedication to democracy.
Jason reflected on the significance of Carter’s 100 years, highlighting the immense good he’s done throughout his life. He also shared how the last 19 months, during which Carter has been in hospice, have been an opportunity for the family and the world to reflect on his legacy.
While physically limited and rarely leaving home, Carter remains emotionally engaged, still laughing and enjoying meaningful experiences in these final stages of his journey. Jason expressed that this time has been deeply significant for his grandfather, a unique chapter of life that can only be experienced at the very end.
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