The fake meat fad has finally been exposed as a complete waste of money

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In response to perceptions that its products are unhealthy and overly-processed, Beyond Meat has launched an advertising campaign that seeks to highlight the supposed health benefits of its products. “It is an education issue. The facts are there. The health benefits … are very strong,” chief executive Ethan Brown said on a conference call with investors.

In the end, for all its expensive technology and tens of billions of investment, the fake meat industry was no more equipped to escape the twin forces of inflation and monetary tightening than any other company. With household budgets under immense pressure, is it any wonder sales are plummeting?

The bubble has burst as shoppers seek out cheaper alternatives, and many are no doubt reminded that there are better tasting ones, too. Or is it just that plant-based food, for all its clever marketing, isn’t very good? It may turn out to be a short-lived fad even by the standards of the American tech industry.

Profligate venture capitalists have an unenviable history of throwing their weight behind some truly terrible business ideas. But the last 10 years of rock-bottom interest rates may prove to be the decade of dead dreams, having also blessed us with 10-minute supermarket deliveries, electric scooters, and restaurants serving edible insects.

The industry must learn to stop believing every optimistic idea is the next big thing.

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