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.
This “Angelic” Child Star Stayed under the Radar, He Looks “Unrecognizable” & Grew Beard to Hide from the Public
Having risen to fame as a beloved child star, Haley Joel Osment has undergone a significant transformation throughout his Hollywood journey. Osment’s evolution in the industry has been noteworthy, transitioning from his early days as a youthful actor with a cherubic face to his present-day distinguished persona.
Even in his youth, Osment displayed a remarkable talent for portraying deep emotions early in his career. His performances garnered acclaim from both critics and fans alike, who admired his ability to blend a cherubic appearance with an innocent boyish charm that captivated audiences.
Following the release of “The Sixth Sense” in 1999, Osment’s career took a significant turn. The film catapulted him to international fame and earned him widespread praise for his portrayal of a troubled young child, establishing him as one of Hollywood’s most promising young talents.
As Osment matured, both his roles and his appearance underwent noticeable changes. Nominated for prestigious awards, he graced the Academy Awards stage and continued to challenge himself with complex characters that showcased his versatility as an actor.
During the mid-2000s, Osment faced personal challenges, notably a high-profile incident involving drunk driving. However, he viewed this period as an opportunity for personal growth, and he emerged from it with a renewed perspective on his career.
Today, Osment remains a thriving presence in the entertainment industry, starring in a variety of films and television series that highlight his versatility as an actor. Sporting a tidy beard and exuding an adult demeanor, he continues to be admired for his transformative performances and steadfast dedication to his craft.
From his early days as a prodigious young talent to his current status as a seasoned actor, Haley Joel Osment’s journey in Hollywood has been defined by growth, transformation, and perseverance. His enduring skill and enduring presence in the industry stand as a testament to his remarkable career, which continues to evolve both professionally and personally.
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