A new place I’m at:
Beyond Meat had the IPO of the year, rising to 800% of the flotation price at one point. So, it’s a great investment, right? The answer being well, no, possibly not. The price has fallen back substantially since then on the grounds that it’s always the pioneers that end up with the arrows in their backs.
There are a number of different ways to explain this idea, they’ve no moat perhaps, they’re too small possibly, even they’re obviously going to come to grief catering to vegans. It’s a combination of those first two reasons that tell us the future, not the third. In fact, the more they prove that catering to vegans works very well as a business strategy the less well they’re going to do.
This is not to say that Beyond Meat is going to go bust, although of course that can happen to any company. It’s not even to say that they’re not going to continue to grow and do so nicely. Rather, it’s to insist that prices and margins in this business sector are going to fall and fall badly and that’s going to spell the end of any – and the current – sky high valuation of the company’s potential future revenues.
They’re looking for other writers. They do pay, although not hugely. So, anyone who wants to write financial market type stuff – although they’re looking for evergreen content, not a pitch on an immediate trade – get in touch and I’ll pass you along.