Beyond Meat fights for survival

Original Article ↗ Hacker News Discussion ↗

Financial outlook and debt

  • Commenters highlight Beyond Meat’s severe debt load: ~$1B in convertible bonds due 2027, bonds trading at deep distress levels, and operating losses of ~45¢ per $1 of sales.
  • With gross margins often near zero or negative and limited revenue growth (~$300–330M over six years), many see no plausible path to repaying debt; Chapter 11 and restructuring are widely expected.
  • Several argue this is less about plant-based meat “failing” and more about over-expansion, ZIRP-era financing, and bad unit economics.

Taste, realism, and user segments

  • Opinions on taste are polarized:
    • Some meat-eaters and new vegans say Beyond/Impossible made going plant-based feasible and find them convincing in burgers, sauces, and mixed dishes.
    • Others describe Beyond as dry, plasticky, or “uncanny valley” meat; Impossible is often seen as closer to beef.
  • Long-term vegetarians frequently prefer older-style veggie burgers (beans, grains, mushrooms) and dislike ultra-meaty replicas, or even find them nauseating.
  • Many note Beyond works best when the patty isn’t the star (e.g., chili, pasta sauce), not as a ribeye replacement.

Health, nutrition, and ultra-processed food

  • There’s debate over whether replacing meat with Beyond is healthier:
    • Macro comparisons show similar protein, less saturated fat and zero cholesterol vs 80/20 beef, but more sodium and added oils.
    • Some emphasize concerns about “ultra-processed food,” emulsifiers like methylcellulose, and long-term unknowns.
    • Others counter that processing per se isn’t the problem; outcome depends on formulation and overall diet, and some studies suggest plant-based meats can improve certain risk markers.
  • Several commenters prefer whole-food proteins (beans, lentils, tofu, tempeh, mycelium products) over engineered patties.

Price, market fit, and competition

  • A recurring theme: Beyond is often more expensive than supermarket meat and far more expensive than traditional veg options, while not clearly healthier or tastier.
  • Cheap, heavily subsidized meat and abundant competing plant products (store brands, Quorn, European lines, tofu/tempeh) make Beyond’s premium positioning fragile.
  • Some “ideal customers” say they’d buy if it were cheaper, more convenient (ready meals vs just raw patties), or nutritionally superior; as-is, it doesn’t replace anything in their routine.
  • In Europe and the UK, plant-based meat and milk are increasingly mainstream, but Beyond is just one brand in a crowded, often cheaper field.

Ethics, environment, and culture

  • Many participants are motivated by animal welfare and climate and use Beyond/Impossible as a “nicotine patch” to reduce meat.
  • Others argue that rich, diverse vegetarian cuisines and simple legumes are a better path than “lab burgers.”
  • Several predict plant-based meat will continue growing even if Beyond Meat’s current corporate structure fails, with the brand potentially surviving post-reorg.