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.
Couple gathers neighbors to repair elderly woman’s home, but wait till you see the result
Anne Glancey, an elderly woman from New Jersey, received three violations from the municipality because of the state of her house which was deteriorating.
Among the rest, there was an old car on her driveway which she needed to get rid of, or at least park it somewhere else. Further, she allowed her lawn and house to become overgrown and covered in peeling, chipping paint.
Sadly, due to her age and lack of finances, there wasn’t much this woman could do to renovate her place.
Luckily, Anne’s neighbors have been people with a heart of gold, especially a couple living near by who heard of this lady’s struggles from a real estate agent who was selling their home.
In an attempt to help Anne keep up with the repairs to her home, they gathered around 20 volunteers from the neighborhood and did the job themselves, and oh boy, what a difference they made.
“Anne was, and is, extremely grateful for our dedication to her property and her soul,” neighbour Kristin Polhemus, the initiator behind the project, said. “The project has inspired her to continue improving her home, inside and out, and it established new relationships between Anne and our neighbors.”
Source: Krisitin Polhemus
“These violations imposed a fine of no more than $1,000 per day, per violation. We knew we needed to help, as these fines would quickly surmount for anyone in Anne’s situation,” Polhemus said. “In life, we are called to love our neighbors as ourselves. We wanted to help her out of an act of love.”
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