Planet saving fake-meat burger fails

So everyone “believes in climate change”, but they apparently don’t want to buy the fake-meat that is going to save us from storms, floods and droughts. It’s another mystery of post-modern life that’s solved by assuming that people say “Yes” to meaningless poll questions but “No thanks” to propaganda.

No one really believes their burger will stop cyclones in ninety years time.

 By Naveen Athrappully, Epoch Times

McDonald’s announced that it has concluded the U.S. trial of its McPlant burger, which is made with the plant-based protein manufactured by Beyond Meat (BYND).

In November 2021, McDonald’s began testing the meat-free burger in eight restaurants across America. In February this year, the company introduced the McPlant burger at around 600 locations. According to third-party reports, the experiment ended as a failure. In a recent note, according to CNBC, JP Morgan analyst Ken Goldman cited employees from McDonald’s revealing that the burger did not sell well enough.

This is a complicated way of saying “nobody wants to buy our product”:

During the first-quarter earnings call in May, Beyond Meat founder and CEO Ethan Brown explained that the company is finding it difficult to pass on rising costs to customers. “You see all these new entrants coming in, and many of them are using price as a way to try to capture early market share,” Brown said, according to the earnings call transcript published at The Motley Fool.

“And so while the animal protein industry has been able to substantially increase pricing to essentially offset significant reductions in volume, in our sector, we have not had the opportunity to do that.”

Meat costs were rising too, but customers were willing to pay.

I have nothing against fake meat (apart from shortages in iron, zinc and B12), but it’s become a culture war thing. The same people who want to profit from forcing it on us are often the ones telling us to panic about climate change, or selling us carbon credits, or  coercing governments to restrict fertilizer. It’s the conflict of interest that stinks.

Bill Gates invested in Beyond Meat. Other investors include the usual suspects: Blackrock, Vanguard, Morgan Stanley, Goldman Sachs etc. It’s bad news for them, the share price has fallen from $125 to $34 in the last twelve months. Ominously (for BYND shareholders) fully 34% of the shares are currently held by short sellers. So one third of the shares in existence are on loan to people who think the price will fall further, and who will sell them with glee if it does.

What were the marketing gurus thinking? The vegans who want to save the planet are not shopping at MacDonalds. The health zealots that want to avoid meat for health reasons won’t want to eat the bun, the mayo or the spray-on-margarine.  For them it needs to be a McBurger-free-burger. Nothing about this makes sense.

Presumably the McBug Burger is coming soon. Cricket-burgers cool the climate?

h/t John Connor II

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August 2, 2022 at 01:48PM

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