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.
In 1965, a powerful warning was broadcast to the world; 54 years later, it has unfortunately become a reality.
Paul Harvey, the iconic news commentator and radio pioneer, captivated millions of Americans with his unique delivery style, reaching over 24 million listeners at his peak. His words always carried weight, but no one could have predicted just how prophetic one of his speeches would become.
Today, when I reread his famous broadcast from 1965, I was struck by how eerily relevant it is to our present times.
The speech, titled “If I Were the Devil,” was first aired on April 3, 1965. In it, Harvey imagines what he would do if he were the Devil, detailing a cunning strategy to lead society astray. Sadly, many of the warnings he issued back then reflect the very struggles we face today.
EVERYONE should listen to this. Paul Harvey was alarmingly accurate 54 years ago.
In his fictional narrative, Harvey, as the Devil, outlines how he would whisper lies to people, corrupt young minds, and undermine moral foundations. He speaks of a world where values are flipped upside down, where faith is diminished, and materialism reigns. He envisions a society where chaos spreads through drugs, media, and weakening family bonds.
Listening to it again, it’s hard not to feel a chill as you realize how much of what he predicted has come to pass.
I grew up hearing Paul Harvey on the radio with my mom in the 1970s, and now, more than ever, his words seem to ring true. Everything he warned of 54 years ago seems to be happening now
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