Beyond Meat COO Arrested for Biting Man's Nose After College Football Game
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His arrest is the latest blow to the plant-based protein company, which last month slashed its revenue outlook for the year and said it would cut 4% of its workforce.
The irony of a vegetarian food company executive taking bites out of unwary civilians put me in mind of Soylent Green. Afterall, the movie might have been released in 1973 but it is set in 2022. Here is a section from the Wikipedia description:
By 2022,[3] the cumulative effects of overpopulation, pollution and an apparent climate catastrophe have caused severe worldwide shortages of food, water and housing. In New York City alone, there are 40 million people, and only the city's elite can afford spacious apartments, clean water, and natural food. The homes of the elite are fortified, with private security and bodyguards for their tenants. Usually, they include concubines (who are referred to as "furniture" and serve the tenants as slaves). The poor live in squalor, haul water from communal spigots, and eat highly processed wafers: Soylent Red, Soylent Yellow, and the latest product, far more flavorful and nutritious, Soylent Green.
Today, we have very vocal fears of the effects of overpopulation, running out of food, an energy crisis and the massive gap between the privileged elite and the working/unemployed underclass.
There is no question that we have challenges ahead with the threat of recession growing by the day. Nevertheless, it is not fruitful to discount the ability of people to adapt to even the most trying of circumstances.
That does not mean that everything goes up. The days of everything moving in the same direction are probably over. As interest rates rise that puts greater focus on cash flows and reliability of earnings over promises of future returns.
The hype surrounding plant-based burgers, that taste like cardboard, peaked immediately after the IPO in 2019. Little wonder then that senior management are under significant personal strain. The share continues to trend towards oblivion. They will run out of money within 12 months without successfully selling more shares.