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.
Michael Jackson’s Son “Blanket” Debuts New Nickname in Search of New Identity
Michael Jackson’s youngest child, Prince Michael Jackson II, known widely as “Blanket” for many years, made a significant personal decision to change his nickname after more than a decade. Born in 2002 via surrogate, Prince Michael Jackson II earned the nickname “Blanket” due to his father’s habit of covering him with a blanket to shield his identity and maintain privacy.
This nickname followed him throughout his early life, but by 2015, he chose to rebrand himself as “Bigi” Jackson. The decision marked a new chapter in his life, reflecting his desire to move away from the legacy of his childhood nickname.
Although Bigi is the son of one of the most iconic figures in music history, he has shown little interest in following in his father’s musical footsteps. Instead, he has emerged as an advocate for environmental causes, particularly focusing on the pressing issue of climate change. In a 2021 interview, Bigi spoke about his commitment to addressing climate change and the importance of raising awareness about this global challenge.
During the interview, Bigi expressed his admiration for the history and creativity that surrounded his father’s work, while also emphasizing the need to contribute positively to the world. He stated, “That’s what each of us want to do, make some things that people hopefully enjoy but also that benefit their lives.” His passion for climate activism reflects a deep concern for the environment and a sense of responsibility toward future generations.
After the death of Michael Jackson in 2009, Bigi, along with his siblings Prince Michael Jackson I and Paris Jackson, was raised by their grandmother, Katherine Jackson. Today, Bigi lives independently in a mansion in California.
Public reaction to Bigi’s name change and his dedication to climate activism has been overwhelmingly supportive. Many have praised him for his resilience in coping with the loss of his father and for his commitment to making a difference in the world. Supporters have expressed their admiration for his choice to focus on climate change and have wished him well in his endeavors.
Despite his famous lineage, Bigi has openly admitted that he does not possess his father’s talent for singing or dancing. Instead, he is channeling his energy into raising awareness about environmental issues, and encouraging others to take action to combat climate change.
As Bigi Jackson continues to carve out his own path, he remains dedicated to making a meaningful impact on the world, all while stepping out from the shadow of his father’s legacy.
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