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.
KEEPING HOWIE IN OUR THOUGHTS AND PRAYERS
When it comes to Howie Mandel, the first thing that comes to mind is positivism and laughter.
According to IMDb, he started his career in showbiz by pure chance. A producer noticed him during an amateur night at the Comedy Store on the L.A. Sunset Strip during a vacation after his friends convinced him to try it out.
Today, Mandel is one of the most famous names in the world of entertainment. A TV celebrity, screenwriter, actor, producer, director, entrepreneur, and popular game show panelist/host, you name it, Mandel has tried it all and proved that he’s great in all of it.
Recently, however, he decided to open up about his mental state and confessed he’s been battling anxiety, ADHD, and OCD most of his life. The truth is that no one can really assume that someone as fun as Mandel could be going through such a thing.
“I’m living in a nightmare,” he declared. ” I work to ground myself. I love what I do and have a lovely family. However, I can also experience severe sadness from which I can never recover.”
This turned even worse during the COVID-19 pandemic when we were forced into lockdown. Mandel revealed to People magazine that there was no day the thought “we would die” didn’t cross his mind. But the fact that no one from his closest surrounding was affected gave him comfort.
Although he was diagnosed in his thirties, Mandal knows he had OCD and ADHD since forever. He, however, didn’t speak of his mental state openly because he believed it would affect his career. “My first reaction was that I’ve embarrassed my family,” he admitted. “Then I realized that nobody would hire someone who wasn’t stable. Those were my concerns.”
It was comedy that helped him during the toughest times in his life.
“My coping mechanism is finding the humorous,” he declared. “If I’m not smiling, I’m probably sobbing. And I’ve still held back on how horrible and dark it actually gets. In a way, comedy saved me. I feel very much at ease on stage. And when I have nothing to do, I retreat, which is not healthy
Mandel’s goal is to help raise awareness about mental illness and break the stigma.
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