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.
Anne Hathaway Shares Painful Memories of Losing an Unborn Baby
Anne Hathaway reflects on her challenging journey to motherhood and the heartfelt influence her openness about her experience has had over the years.
Oscar-winning actress Anne Hathaway, who is a mother to sons Jonathan, 8, and Jack, 4, with her husband Adam Shulman, recently looked back on her challenging journey to motherhood. She shared how she faced a miscarriage while performing in the Off-Broadway play Grounded for nearly six weeks in 2015.
Reflecting on her experience, she told in a cover story published on March 25, «The first time it didn’t work out for me. I was doing a play and I had to give birth onstage every night.»
During that time, she felt that «it was too much to keep it in when I was onstage pretending everything was fine,» and chose to be honest about her struggles with her friends and family. «I had to keep it real otherwise.»
Later on, she extended this same openness to the public when announcing her pregnancy. She explained, «When it did go well for me, having been on the other side of it — where you have to have the grace to be happy for someone — I wanted to let my sisters know, ’You don’t have to always be graceful. I see you, and I’ve been you.’»
«It’s really hard to want something so much and to wonder if you’re doing something wrong,» she added. The Oscar winner further recalled her shock at learning how many pregnancies end in miscarriage. According to the Mayo Clinic, 10% to 20% of known pregnancies end in miscarriage, though the actual number is likely higher. She wished that this information was more widely disseminated.
Anne continued, «I thought, ’Where is this information? Why are we feeling so unnecessarily isolated?’ That’s where we take on damage. So I decided that I was going to talk about it.»
When Anne Hathaway announced her second pregnancy on Instagram in 2019, she accompanied it with a powerful caption.
«It’s not for a movie…» Hathaway wrote, referring to her baby bump. «All kidding aside, for everyone going through infertility and conception hell, please know it was not a straight line to either of my pregnancies. Sending you extra love.»
Reflecting on the impact of her candid post, she shared, «The thing that broke my heart, blew my mind, and gave me hope was that for three years after, almost daily, a woman came up to me in tears and I would just hold her, because she was carrying this (pain) around, and suddenly it wasn’t all hers anymore.»
Reflecting on her experience, she shared that given «the pain I felt while trying to get pregnant, it would’ve felt disingenuous to post something all the way happy when I know the story is much more nuanced than that for everyone.»
Recently another actress, Nicole Kidman, also shared her struggles having children.
Preview photo credit Siegfried Nacion/STAR MAX/IPx/Associated Press/East News, annehathaway / Instagram
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