Beyond Meat, probably the most iconic plant-based brand in the US, has never had a profitable quarter.
Many smaller plant-based startups have come to investors looking for additional funding, only to find that investors are increasingly saying “no thanks” because they are sick of losing money.
Management at many of these companies are incredibly idealistic and hopeful, but their plans lack sustainable finance. Continual investment into new products, technological development of cultivated meat, and other pie-in-the-sky ideas is hurting the bottom line of the industry and by extension the movement for animals.
We need profitable companies. Profit represents a firm foundation of economic sustainability that provides stability and also the profits can be reinvested into sustainable development efforts. Such efforts can range from research and development to marketing and political lobbying on behalf of the plant-based industry. Animal agriculture has a plethora of profit and is able to dish out cash year after year for such efforts. We need the same, but in order to get there we need to get our heads out of the clouds and zero in on efforts to increase profit.