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.
Prince William and Kate Middleton have a strategy to protect Prince Louis from the so-called “Spare curse,” ensuring he avoids the challenges often faced by royal siblings not directly in line for the throne.
Prince Louis and Princess Charlotte are not likely to become king or queen, as their brother Prince George is second in line to the throne after their father, Prince William. However, they will still have important roles within the Royal Family.
Their uncle, Prince Harry, has voiced concerns that Charlotte and Louis might feel like the “spare,” much like he did growing up as William’s younger brother. However, William and Kate Middleton are said to be taking a different approach to raising their children, ensuring they don’t face the same struggles as Harry.
With the Royal Family evolving, Louis and Charlotte are being raised in a more modern way than previous generations. Prince William and Kate are reportedly planning to give them opportunities outside of royal life, helping them find their own paths while still supporting the monarchy.
Louis, who just turned six and became fourth in line to the throne after Queen Elizabeth II’s passing, may follow a role similar to that of Princess Anne, contributing to royal duties without the pressure of becoming monarch. Prince Harry has expressed his concerns about his nephew’s future, fearing that Louis may face the same challenges he did as the “spare,” but William and Kate are actively working to avoid that fate for him.
Despite Harry’s remarks about William’s children in his memoir Spare, royal experts say it’s none of his business, emphasizing that Louis and Charlotte’s futures are William and Kate’s responsibility, not Harry’s. The Prince and Princess of Wales seem intent on ensuring their younger children feel valued and special, with encouragement to pursue their own interests beyond royal life.
The royal expert emphasized that Prince William and Kate Middleton are keen on helping Prince Louis find a meaningful life, suitable for the son of a future king. They aim for him to feel a sense of purpose, no matter his position in the line of succession, likely through service, as they’ve always stressed the importance of empathy and kindness.
Camilla Tominey, another royal expert, believes that William and Kate want both Charlotte and Louis to pursue their own careers if they choose to. She noted that they don’t want Louis to become a “royal hanger-on,” like some minor royals in the past, and prefer that their children have lives that aren’t solely dependent on royal duties.
Tominey mentioned that Prince William and Kate have made efforts to normalize their children’s lives, with a strong possibility that Charlotte and Louis will have their own careers alongside royal commitments. However, finding the balance between personal ambitions and royal responsibilities is key.
As for Prince Louis, he has become a favorite among royal fans but hasn’t appeared at many public events. Experts like Lizzie Robinson have explained that William and Kate are carefully managing his public exposure. They decide on a case-by-case basis which events are appropriate for Louis, who is still quite young.
Sporting events are a passion for the royal couple, and while Louis hasn’t yet attended high-profile events like Wimbledon or Euro 2024, royal reporters say it’s simply because he’s still too young. At six years old, Louis has time to grow, and the public will see more of him when the time is right. For now, his focus should be on enjoying his childhood.
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