Following the launch of its products in Whole Foods stores nationwide, Meati Foods, which makes plant-based meat alternatives, is cutting about 20% of its positions to focus on becoming more profit…
Edit: apparently that $50MM injection came with the stipulation that they are profitable within ~1 year. That’s never going to happen in manufacturing with high capex, hell even if it was tech that’s not going to happen. Either the investors are going to have to get a dose of reality or Meati will cease to exist by around this time next year and these myopic investors get to eat crow. I feel bad for employees because profitability in the timeframe being demanded by investors is beyond unreasonable and I suspect investors will want to sell off IP to recoup their money and the hard working employees will suffer
Edit: apparently that $50MM injection came with the stipulation that they are profitable within ~1 year. That’s never going to happen in manufacturing with high capex, hell even if it was tech that’s not going to happen. Either the investors are going to have to get a dose of reality or Meati will cease to exist by around this time next year and these myopic investors get to eat crow. I feel bad for employees because profitability in the timeframe being demanded by investors is beyond unreasonable and I suspect investors will want to sell off IP to recoup their money and the hard working employees will suffer