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Like most Americans, McDonald’s has given up on Beyond Meat

The McPlant is dead, long live the $5 deal

6/28/24 9:45AM

Unplanted

McDonald’s will likely be meat-free-free in America for the foreseeable future, after the company confirmed at a WSJ forum on Wednesday that the McPlant, a burger made in collaboration with Beyond Meat, failed when it was rolled out in hundreds of locations across California and Texas in 2022.

That’s a sizable setback for Beyond, which, despite some serious hype around the brand in earlier years, has never turned a profit and has seen its stock drop ~90% from its 2019 IPO. In its latest quarter, the plant-based producer reported net revenues that sunk 18% to $76M, the company’s 8th quarter of shrinking sales in a row.

Beyond’s been shouting about its grill-friendly Beyond IV range of burgers and sausages recently, but all anyone else has been talking about is how cooked the brand itself is. Growing concerns around processed food and waning veggie and vegan communities could explain Beyond’s decline in the past few years. Whatever the reason, when consumers stood in a McDonald’s and were given the choice between a beef burger and a Beyond burger, not enough people chose the latter.

Beyond America

The fake meat co’s fortunes have looked healthier overseas in recent years, with sales in Beyond Meat’s “International” division growing 20% in 2023 compared to the year before. Interestingly, the McPlant is still available across European nations like Germany, the UK, and the Netherlands. However, it appears that America’s meat-free malaise might be starting to spread, with overseas sales down 22% in the first quarter of 2024, which was more extreme than the 16% dropoff seen in the states.

Joe Erlinger, the McDonald’s USA president, told the WSJ’s Global Food Forum that he doesn’t think “the US consumer is coming to McDonald’s for the McPlant or other plant based proteins” — if Beyond’s sales are anything to go by, they’re not going direct to source either.

Max Knoblauch7h

Uber launches “digital tasks” in the US, paying some drivers to train AI

Beginning later this fall, US Uber drivers will be able to earn money by completing short “digital tasks” like uploading restaurant menus or recording audio samples.

CEO Dara Khosrowshahi teased the new gig income stream back in June at the Bloomberg Tech conference.

At that time, Khosrowshahi said drivers and couriers were “labeling maps, translating language, looking at AI answers, and grading AI answers.” According to Thursday’s announcement, the tasks won’t be so focused on Uber’s business, but instead on connecting workers with “companies that need real people to help improve their technology.”

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Uber’s having drivers train its AI while partnering with robotaxi companies that could replace them

Per Uber, digital tasks can be done when drivers aren’t on a trip, be it at home or when not driving, and will take only “a few minutes” each.

Max Knoblauch

10/15/25

United Airlines posts stronger-than-expected profit but weaker sales in its third quarter

United’s full-year profit outlook falls somewhere in between the dual forecasts it issued back in April.

United Airlines Airplanes at Newark Liberty International Airport in Newark, New Jersey

Hyunsoo Rim, David Crowther

HEAD OF MACROS

10/15/25

Pop-Tarts, Doritos, and Uncrustables have joined the protein craze taking over America’s snack aisle

Food giants are catching up with the latest diet obsession.

Apple TV dropped the “plus” as streamers keep pulling back on originals

After the spray-and-pray approach led to a wave of cancellations, Hollywood is settling into an era of just making fewer shows.

Hyunsoo Rim10/15/25

Max Knoblauch10/14/25

The average price of a new vehicle in the US passed $50,000 for the first time ever in September

The average price of a new vehicle in the US surpassed $50,000 in September, according to Cox Automotive’s Kelley Blue Book.

At $50,080, that’s the highest industry average ever, reflecting the price hikes faced by new car buyers in recent years amid pandemic supply shortages, tariff-induced increases, and the high cost of EV production. The figure marks a 3.6% jump from the same month last year.

“Tariffs have introduced new cost pressure to the business, but the pricing story in September was mostly driven by the healthy mix of EVs and higher-end vehicles pushing the new-vehicle ATP into uncharted territory,” Cox executive analyst Erin Keating said. Passing the $50,000 mark was inevitable, Keating said, especially considering that the country’s bestseller is a Ford truck that “routinely costs north of $65,000.”

Year over year, new vehicle prices rose nearly 6% for GM, while Ford’s climbed 2.5%. Volkswagen new prices were up 12.5%.

As prices climb, so do delinquencies on loans to borrowers with lower credit scores. Recent data from Fitch Ratings shows the portion of subprime US auto loans 60 days or more overdue reached 6.43% in August.