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.
Officials Tried to Help Florida Man ‘Lt. Dan’ Before Hurricane Milton, but He Refused to Leave His Boat
Before Hurricane Milton made landfall in Tampa, Florida, officials there made an effort to help a man who went by the TikTok handle “Lieutenant Dan.” The man, whose true name is apparently Joseph Malinowski, defied their attempts to disembark from his 20-foot boat and chose instead to weather the storm.
Malinowski was filmed by Terrence Concannon, who uploaded the popular TikTok on October 8 and showed him justifying his choice. Malinowski, who was inspired by the Forrest Gump character, boldly declares his belief in God in the video, saying, “God told me to come out here and acquire a boat. I’m safe with him. We’re going to get through this. He brashly said, “Hell no,” when asked if he would be donning a life jacket, stating that his yacht was the safest place for him to be.
Around 43 million people had viewed the film as of October 9, garnering both local and national interest. Authorities in Tampa were worried about his safety, but Malinowski refused to leave despite multiple attempts to persuade him. The local police said that although they would have helped, they would eventually be unable to get to him due to the storm’s increasing conditions.
Mayor Jane Castor of Tampa first said that Malinowski had been rescued and taken to a shelter during a press conference. Brian Entin, a reporter for NewsNation, swiftly refuted this, posting a picture of Malinowski remaining on his boat as evidence that he had not departed. Later on, the mayor’s office stated that Malinowski had initially decided to depart but ended up staying.
Concannon, the person who first uploaded the popular video, launched a GoFundMe page in support of Malinowski, which raised almost $23,000. The money is meant to assist Malinowski—who has been called a “modern-day pirate”—in buying a new boat because his present one has “seen better days.”
With sustained winds of 120 mph, Hurricane Milton, a Category 3 storm, was predicted to make landfall on Florida’s west-central coast as of October 9. Malinowski made the decision to stay on his boat despite several orders for the locals to leave, putting his faith and the security of his craft at risk.
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