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I think the company was a bet that if you make a good enough meat substitute, then meat eaters will switch to it (sometimes), and that's a huge total addressabl
by twic 1y ago
I think the company was a bet that if you make a good enough meat substitute, then meat eaters will switch to it (sometimes), and that's a huge total addressable market. I would say that bet has not come off. But that's hindsight - the whole point of startups is to take bets.
- bartread 1y agoI think you're right: that was definitely the bet, but it really should have entered their heads that being more expensive than actual meat[0] would guarantee the bet wouldn't pay off. [0] Again, in the UK: I'm not familiar enough with their pricing in other markets to know if that's the case globally. IMO you'd have to be out of your mind to imagine a meaty tasting meat substitute would succeed in the US if it was more expensive than actual meat so, if the high price holds in the US, it should be no surprise that they're failing.