Excerpt from Revolver News:
Economic Times:
Plant-based meat pioneer Beyond Meat is facing a potential Chapter 11 bankruptcy after reporting falling sales, dwindling cash reserves, and mounting debt, according to bills.com, which confirmed it on August 12. Once credited with creating the market for meat-like plant-based products, the company now struggles amid increased competition and a slow-growing niche audience.
But the company is vehemently denying all bankruptcy reports:
However, they can deny it all they want, but the truth is the company is in serious financial trouble.
SBO Financial:
I hate to say it, but Beyond Meat is beyond cooked.
What started as Silicon Valley’s next big thing is now an absolute dumpster fire.
After raising money from Bill Gates, going public for >$4bn, and even partnering with Kim K., Beyond Meat is now the laughing stock of the NASDAQ.
The business has lost 96% of its equity value since IPO, is burning ~$20-$30m in cash every quarter, and has over $1bn in debt due in 2027.
So, what happened to Beyond Meat? This video takes a look at what went wrong with one of Silicon Valley’s most celebrated startups and biggest flops in recent memory.
[video:]
The bottom line is this: Americans aren’t interested in embracing the progressive “green” lifestyle. It’s not that we don’t want to be respectful of the planet; we do, but we’re not signing up for the insane Climate Cult that pushes eating bugs, chemicals, and other toxins. We’re not interested in destroying humanity in order to “save” the planet. And let’s be honest here… the planet itself is doing pretty darn good. Where it needs help isn’t in replacing beef; it’s in countries like China and India, where environmental abuse is off the charts.
This is one big reason why fake meat companies like Beyond Meat are failing with the general public.
