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.
Suri Сruisе, Тhе Dаughtеr Оf Kаtiе Аnd Тоm Сruisе Silеntly Сhаngеd Неr Nаmе
Suri Cruise, daughter of Katie Holmes and Tom Cruise, quietly changed her name upon turning 18. Renouncing her father’s last name, she now goes by Suri Noelle, adopting her mother’s middle name, Kate Noelle Holmes.
Her decision became public during her performance in the New York musical “Head Over Heels,” where she was listed under her new name. Suri’s choice signifies her independence and a step towards adulthood.
In New York City, Suri was seen confidently strolling with headphones, symbolizing her newfound autonomy. The name change diverges from her birth certificate, which listed her as Suri Cruise, filed 20 days after her birth on April 18, 2006.
Scientology researcher Tony Ortega remarked, “Suri will now be free to talk if she wants to,” highlighting her ability to discuss personal matters likе her relationship with her father. This strained relationship, marked by long separations, has been public knowledge for years.
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