Impossible Foods vs Beyond Meat

Welcome to episode 8 of PWTA! This week, two carnivores try to figure out what all the hype is about surrounding alternative meats. Do they really taste like real meat? Are they actually healthy? Whats behind the scenes really making these companies have such explosive growth? Its Impossible Foods VS Beyond Meat in a veggie dual to the death!

FULL TRANSCRIPT

RT: welcome products we’re talking about. I’m RT. This is Tyler and today we’re discussing something really disruptive, disruptive,

RT: alternative meats. Oop. All right, so why are we talking about it? Well, I think because both you and I eat meat pretty much every meal. I love meat. We uh, pretty much always get like the steak and eggs at ginger Baker. Yeah, we both get it all the time. And when somebody was telling us that like beyond meat went public and their stock tripled in a day, it was like, what’s beyond meat? Why would anyone not eat meat?

Tyler: Well, it’s been everywhere. Like what is happening all over the place? Yeah. All these commercials on TV, it’s been nuts. Right? So like we started digging into it and the stats are mind blowing. Oh, sorry. Yeah. So here’s a couple of things. We found these come a lot from trends, which is a pure, uh, article we like to read. Um, it’s by the hustle, but they have a re they do a really good job of breaking down disruptive products and companies. Yup. So here’s a couple of stats are mind blowing. So 25% of Americans ages 25 to 34 and now identify as a vegan or vegetarian.

RT: So basically a quarter of millennials are vegetarians.

Tyler: They identify, it doesn’t mean they’re eating veggies every day, not a hundred percent. Sometimes people say they’re vegan and whatever else, they’re really not, but right.

RT: But 25% of that 10 year age, I mean, there’s millions of people.

Tyler: And we knew with food products, if you get people hooked early, you know, it’s like these protein bars and stuff, they’re gonna stay with you for a long time for sure. So the acquisition cost goes way down, way down. Um, so since 2009, uh, the plant food market has grown over 430%. Jeez. Which is crazy. And it’s projected to be a 25 billion, uh, in five years.

RT: The whole plant food plant, [inaudible] Flint plant boot flam, geez. Can’t talk plant boobs. Boom, pause plant boobs.

RT: So the, the whole plant based food industry is how many billions it’s projected to be 25 billion. 25 billion. That’s crazy. Yeah. Um,

Tyler: so these companies we’re talking about today, impossible foods and beyond me, they’re evaluations are mind blowing too. Oh, it’s crazy.

RT: I mean though, the one company was it, I think it’s beyond meat. They did like 88 million in revenue in 2018 but their stock market valuation is like 11 billion. Yeah. So that, that does not equate for me at all. But they’re very valuable company and they’re doing some awesome stuff.

Tyler: And this is exciting because this is one of my favorite segments, right? You have a boring segment cause alternative like hamburgers and things like soy burgers. I’ve been around forever. Right. But it’s an alternative product and it’s kind of boring. But all of a sudden you’ve got these companies coming in and having excitement. Yeah. You know, and those are my favorite kinds of disruptions. And these companies come and say, Hey, we have something better. Take a look.

RT: And the general public is getting on board. It’s not like just a little niche kind of thing happen in a corner of America. This is everybody saying like, wow, let’s go try that impossible burger. It looks kind of good.

Tyler: Yeah. And I think this is the tip of the iceberg. So it’s really exciting as longterm there. They’re saying they’re going to start growing meat in labs and like they’re going to have massive, you know, warehouses are massive labs that are growing meat that’s actually bio-identical. That’s better than current meat. Crazy. It’s going to taste the same. So that’s why there’s a lot of money being poured in this industry because I think this is just the beginning.

RT:

RT: Yeah. And it’s a disruptive product, so that’s why we’re talking about it.

Tyler: All right. Sticking to the companies. Impossible foods. Yeah, we’ll do that one first. Yep. So year founded 2011. Yeah, founder is Patrick Brown. They’ve got 370 employees on LinkedIn. Right. And that could be off a little bit, but they’ve [inaudible] 70, most of.

RT: these companies are growing so fast that they’re probably not keeping your LinkedIn profile as updated as it could be. Yeah.

Tyler: A Redwood city, California is where they’re located. Cool. Um, they’ve taken tons of money. 600 million, I think it’s maybe more than that at this point. Um, they’ve taken it from big players, Google, um, bill Gates. Um, some foreign entities that are big players too. I mean they have, they have money through being thrown at them constantly.

RT: And of the two we’re talking about, they’re still a private company. They’re not public, so private. So some of the data, um, is not as available as the other one.

Tyler: Yeah. So private, they were the first, the party though, you know, the first big player, like I said, this has been around for a while. First big player and that’s why people are excited about it. But the story behind it is in 2009, a professor Patrick Brown, the founder, um, was just really adamant about changing how animals were being treated, I guess traditional farming. And he, you know, did some, some, I guess conferences and really try to get people engaged with it and realize people didn’t care. So he set out and he’s like, I’m just going to create a hamburger to compete with traditional hamburger. Right. And so that’s where we’re at now. I was like, he’s just like, I’m going to go and I’m going to sell it to burger King and McDonald’s and so on and so forth. I’m going to make people love my product.

RT: Yep. And that’s a wrap. Take market share from the people he didn’t like. Yeah. That makes total sense. Yeah. That’s so cool. So beyond meet the, uh, the other one, the competitor, right? They say a year founded 2009, um, founders, Ethan Brown, same last name. Maybe there’s some kind of, you know, maybe they’re both owned by the same family. We don’t know about it. It’s, it’s different. It’s a different Brown, Brown, Brown and Smith. [inaudible] American names, right? Ethan Brown, founder of beyond meat, 272 employees on LinkedIn. Wikipedia said a much higher number, closer to 400, so same kind of thing. They’re growing so fast. Public company now this one, um, El Segundo, California is where they’re from. And um, recorded funding so far according to Crunchbase, so 122 million from seven different rounds. And uh, bill Gates is in this one too. It’s interesting size. Um, and Tyson foods or saw that was interesting. They’re trying to get into the alternative meat. Right? And the humane society of course, that that totally makes sense. This will be an investment that the humane society will be behind. Um, interesting fact. You know, just what I said earlier, they did an 88 million in revenue in 2018 but yet their stock market valuation puts them at 11 billion in value. That it just, it’s worth saying again, it’s just crazy. And there were the $11 billion and a triple the first day. Right. And it tripled the first video and I missed it. I didn’t invest. And recently they did a beyond fried chicken with KFC and it’s sold out in like a matter hours.

Tyler: They are with, we’ll talk about this later, but they’re there. KFC, subway, uh, we, we found like five or six restaurant chains and they’re really even going down to like the regional chains. Right. The smaller chains. Yeah. Which is incredible.

RT: Yeah. Just trying to put as many friends there, put it in front of as many people as possible. Yeah. So, um, I say we’d go upstairs to the deck, light up the Trager and grill up some meat. Let’s do it. Cool. Let’s roll.

Speaker 4: Okay.

RT: Welcome to product’s worth talking about studios deck style. We’re out on the deck today with the Trager cooking beyond meat Seon meet. So we got, we got, got an Italian sausage and I’m the burgers. Hamburgers beyond the beyond burger plant based burger patties. Is it 20 grams of 20 grams? Yeah man. How many grams of protein does a like a beef burger? About the same. So these are like four ounces. So we burger have like probably 20 to 24. So it says that we need to cook them until it gets to like 165 internal temperature, which is pretty much similar to meet standard. Yeah. Um, we got the grill up to about three 50, 400 should workout and we’re going to do like five minutes aside on both of them and see what happens. And um, kind of go from there. So

RT: sausage looks kind of like dog poop,

Tyler:

RT: but the texture looks interesting. It’s a little soft. Most smells great. The way you broke it apart was kind of like, you know, when a dog is taking a poop and it kind of breaks apart as it falls out. No, I don’t know that it’s the same exact thing that I’ve seen before.

RT: All right, let’s meet, meet for day, get down to some alternative meat right now.

Tyler: Okay. So we went outside, we cooked this stuff, right. So we already had the impossible products from Qdoba burger King. We went outside and did the, the other one. So now we have our sausage and our hamburgers. Yep.

RT: So this right here is beyond meat, sausage and hamburgers. And then we have the impossible burger from burger King and the impossible, what do we call it? Bowl bowl and possible blossom.

RT: We’ll bowl from Qdoba and uh, where do we start?

Tyler: Yeah. So yeah. Okay. So this is how it breaks out. So as far as pricing and things like that, so you can buy this whole foods. There’s similar grocery stores also that has it. Um, and you’re looking at four, you get two, four ounce patties and they are a five 99. And then the sausage, which you get four of which comes in a package like this, you get four of those. Um, it can be little more expensive at eight 99. Okay. So for the sausage patties we kept, one is raw, so you can kind of see how that looks. So what’s your take on that? RT? How’s it look? Um,

RT: it looks like dog poop. It smells great. It smells great. Succulent, that’s discussing.

Tyler: We’re going to eat this dude. Yeah. Well now it’s cooked well.

RT: It’s still okay. You would, you, you got to separate. You need it. Well, first of all, you got to separate all of that stuff in your mind. Okay. One side out the other. Oh, deep breath. Woosah.

Tyler: Okay, so it does, I mean it looks, it looks like putty. You’re kind of feels like putty. Remember when you got me to eat the soap? Yeah, I feel like you should try that right now. You could die if you did that. Maybe. Really? I don’t know. It’s raw. Somebody who email us and tell me if we can get like raw, I’m sure usable and beyond me. I’m sure somebody from the company is like, absolutely don’t do that. Um,

RT: somebody on YouTube and be like, yeah, I’m an expert. Yeah, just totally dive in. All right. Okay. So here’s the cook stuff. I got a couple of bites for both of us from the hamburger and the sausage go and right here. Um, I say, let’s just start with beyond meat. Okay. So this is the sausage. Let’s try that. Marriage need of a man.

Tyler: I don’t need that for it. You haven’t got a bigger fork for you cause I thought you’d say that.

RT: It’s supposed to be hot Italian sausage.

Tyler: So the texture is nothing like a regular brought. No, it’s more of a greenie texture.

RT: when you bite into it. You don’t get that like really like that surface finish. You know that a bra has where you like bite but it has it.

Tyler: So you have like a little bit of like a uh, it’s decent. Yeah.

RT: The casing is D, it’s there as far as like the hot Italian spices. I’m getting all of that. Like it tastes, yeah, it’s good. It’s really, this is the, the let’s go hot Italian sausage.

Tyler: Okay. So I’m rolling with a hammer, which if you look at this like there’s juice. I mean the juice actually comes out of whatever the juice is coming from, which is, it’s beet juice, right? Yeah. Weird. Well this doesn’t smell like a hammer.

RT: Yeah, I shouldn’t have smelled that.

RT: I think cause you said it was beat. Now I taste beat. But you know, texture is close and it has like.

Tyler:

RT: the smoky kind of flavor to it or like a that’s coming off your grill a little bit. Yeah. But like it, it took on that flavor so I got a hamburger. Right. You cook it on the grill, it gets that flavor. Treger um, but that comes through so absorbs it. Yeah. And the honestly the texture is good. This was good. Yeah. The HAMP hamburger and should we do, do we have to do this every time? No. Pam chicken. If.

Tyler: it was on a bun with cheese and whatever else, whatever you like your hamburgers, it would probably be about 75% there. Yeah, no, I took it to 165 degrees. We like, they recommend. Yup. I don’t know if you can undercook it. Maybe. I know it tastes different. Like more like a hammer. I don’t know.

RT: Or even make over cookie. I make it crispy. Yeah, definitely. Like if I could they get tray or doesn’t really get as hot as a standard grill. So I wonder if you got really hot and like kind of made it crispy on the outside. It might be different.

Tyler: It’s good if it, it’s different. It’s good. I’ve never tried meat before. Yeah, it’s a good alternative. I mean, have you ever had like the old soy patties and stuff? I mean, they’re absolutely horrible. Um, it’d be on the meat. I like it. Okay.

RT: I’m gonna just keep, I’m actually really hungry. How are you? [inaudible] okay, so we’re moving on.

Tyler: So this is going to be the impossible products. Not impossible. As we, you know, we’ve talked about the distribution is through restaurants. They’re not going to be in grocery stores yet. They’re coming very soon, uh, to grocery stores. But we went down to burger King across the street. Yup. We’d done Kadaba. Yeah, we got the impossible Whopper and the bolt.

RT: Cool. So I think we should both try the Whopper. So let’s do it. And then, and then moving,

Tyler: that smells really good. Like that looks, smells.

RT: It looks just like, it looks like a taco salad. You know, I, I, if you told me that was Tereso I will, I don’t trust you. So rather just work with you. You should never, um, after this.

Tyler: So this is like a Whopper, right? So it’s covered in and Mayo or whatever sauce that is.

RT: We go, we got um, there’s pickles, tomato, lettuce. The whole blood is hoping. Is there cheese in this, Ethan? I don’t think so. I think there’s no cheese. Perfect. Okay. Here we go.

RT: You know when you put all the other stuff in there, that’s the funny thing. Like you know it’s covered and stuff and it actually tastes just like a walk. Right? That almost tastes like a Whopper.

Tyler: cause you’re tasting 90% of a ton of mayonnaise and lettuce. Right.

RT: So now I just grabbed a little bit of the burger itself. Try to compare that to the [inaudible].

Tyler: This looks just like a Whopper too. It looks like elbows. A wiper burger.

RT: Yeah, the impossible burger. And you know what the texture is, right? You know, cause you’re kind of like, it has these little pieces and chunks like a Whopper does. A traditional beef burger would have do ask close. Riley do that. This tastes it’s really good and it has that flame broiled. You know what? Burger King advertisers are like the flip flip frame. Their flame grilled, right? It’s good.

Tyler: I like it. Okay, I’m going to keep beating this. And so we did not have any an acronyms, which was a horrible idea. Oh God. Eight then. Yes, producer, producer eat then. All right. Well ma’am, so the takeaway on those, which we haven’t got at the bowl yet, but they’re good hamburger, good legitimate shit.

RT: When you put the Mayo and the lettuce and the, I mean the pickles, you just tasted the whole thing together. It’s awesome. It’s solid. Okay. So this one, this is basically a taco salad. Yup. A bowl that you would get without, uh, without any meat. So this is, is this, now this is going to be no seasons.

Tyler: So this is going to be a well seasoned products. The seasoning covers up that covers up, but it really enhances the flavor I think when you dump all the other. So right now we have tomatoes, onions, no, we kind of made it like a mini bowl shelf. So yeah, a little bit of rice. So you know, you’re taking all that in with it.

RT: But you know, I just got a bite, a just ground impossible meat. And with the seasoning, I mean it tastes like a taco meat. Yup. It’s awesome. Come on in. Nathan showed the cat shirt. Yes. You’d a man. All right. Thanks Paul. Awesome. Yeah. Um, gosh, it’s good. Yeah.

Tyler: When you, when you do your thing as a restaurant, it makes sense and it actually tastes really good. It’s a great, I’m impressed here. These could have been great if we would have probably did the same thing.

RT: Honestly though. The sausage was awesome. Like I could just eat one of those without a Bon or anything like that. I, I thought it was really good. The burger, you’re right. Like you, you need all the other toppings and yeah. Yeah. And all that stuff. And, and um, with, with the taco salad, I mean, like I said, I, if you told me that I was trees you, I’d probably eat. It’d be like, yeah. It just really good.

Tyler: So as far as pricing, yeah. Um, those are five 59 for the Whopper, Whopper from burger King, five and nine, and then nine 95 for the bowls. I think that’s a little more expensive. Maybe, maybe legal or two. Yeah, very close. The Whopper meal was 19 years ago. So it’s very similar for the meal. Right. For, you know, from both places. But then, um, you know, when, when you look at just the cost of the meat in there,

RT: I don’t think that’s well outside the range of if that were, you know, Theresa or if this was um, you know, a regular Whopper, I think it might be a dollar or two more than the regular white.

Tyler: And this is what the packaging looks like for beyond me, the sausage. So these guys are, you can just pick that up at whole foods or whatever it basically was just in the refrigerated section. Um, we’ve got a picture we’ll, we’ll link down below and so I’ll kind of show you how that was set up. But, uh, it came in that with four sausages in there and then we also have the two hammers. Yup. And those just come in a simple package like this.

RT: And two hamburgers was six bucks. Yup. And the four sausages were nine bucks. Yup. Which seems probably twice as expensive as like a beef Patty from like Walmart.

Tyler: Well, yeah, if you sat next to like, Oh, so whole foods and then ultimately pricing, I mean, followers are grass fed beef. It’s roughly five 99 a pound or six 99 a pound. They’re so similar. More expensive. Yeah. The sausage is probably twice.

RT: what a sausage was being cause sausages are cheap to make. Like pork sausage is probably really cheap to me, but like to spend an extra dollar if you are a vegetarian or vegan and you don’t want to eat meat, I think this is a slam dunk. It tastes so good for someone who pretty much eats meat in every single meal. Yeah. I, you could totally trick me with this stuff. So I’m impressed. Yeah.

Tyler: And from my health perspective, so we talk in like macronutrients. They’re very similar to me. So they’ve made these where there’s a lot of fat in them. Um, there’s going to be, you know, comparable protein. Um, and they’ve done that for a reason because they want you to believe you’re eating a hamburger. So they’re not just going after vegans and vegetarians. They’re going after meat eaters. Right. They’re going after. Exactly us right here. So people who are like, I don’t know about this, and we try it and I’m like, okay, because it’s got the juiciness to it, it’s got that flavor, got the texture. So from a macro nutrient standpoint, it’s going to be very sliver to hamburger. Um, in terms of ingredients, you know, I’m not a nutritionist, but like I am a nutrition field, so I understand what they put in this stuff. There’s some things in there that are probably, I don’t want to say not good for you, but like there are some things in there that they’ve used to make it, you know, feel and taste and look a certain way. The texture, yeah. Fillers or something like that. Yeah, they are. Overall, they’re a, they’re an alternative to meat. And so you can expect some of that.

RT: Yeah, I mean, my like first impressions, uh, this was my first impression. I’m going to continue eating. That’s done. Done.

RT:

RT: So, um, let’s wrap this up, put this away and um, actually I’m just gonna eat it and then get into business. Let’s do it.

RT: All right. So let’s dive into the social scorecard. Show me.

Tyler: Yup. So as a whole, I mean these brands, it’s unique because we do a lot of like direct consumer type of products. So this is completely different. You know, you’ve got two brands that are definitely competing, gives each other and it’s just a race. Yeah. How many restaurant chains, how many grocery stores? I mean they’re just competing head to head.

RT: cause I can’t imagine from just an overall perspective like what do you do if you’re a salesperson for one and not the other, like to a restaurant. I mean you owned a restaurant. Like how would you make the decision on which one of these two to put in your alternative meat tacos, you have to go by flavor, right? And price. No flavor and price. So like you know,

Tyler: I guarantee you beyond meat, from what I’ve seen, the growth rate, they’re going to these big players and they’re basically maybe losing money, you know, just saying, just get in, get us in front. Because they’re using restaurant chains as their marketing. Like what we’ve seen in like, not a lot of marketing, not a lot of ads, not nothing like that. They’re saying, let’s go to the end user via somebody else’s channel and we’re going to use them. Yeah. So that’s where they’re winning. I bet you they’re losing money on a lot of these transactions. They’re a bigger burger King or KFC or whatever.

RT: Right. Well, and it’s interesting because I think from that perspective, impossible foods did a great job with, I mean they, they just partnered with burger King and it’s called the impossible burger. So from like a branding perspective, they put their name in the product name, the impossible burger, go try it at burger King. You know, I saw that ad and I went and tried it. Yeah. I mean, it worked. I mean, I haven’t seen beyond do that as my mini the KFC recently.

Tyler: Right. But, but if you were CEO of impossible, you’d be willing to say, Hey, I’m going to give you products for your 7,000 restaurants. Right. For one month. Yeah. Two months. Yeah. That’s going to impact the bottom line of burger King tremendously. Mind-blowingly yeah. And if you can send a contract for three years to sell our product or even 12 months, whatever, that customer acquisition and liquid just happen to us. We just went and we just bought it. Right. You know, so like you’re kinda like, okay, I’m kind of hooked. I would be surprised. I would love to see the back end of what’s happening there.

RT: I mean, the salespeople on both sides are just wheeling and dealing. That has to be, has to be having, so anyway, like from a, from a social perspective though, um, beyond meat has almost 800,000 Instagram followers and impossible foods has a little more than 200,000 even though it seems like, I mean beyond me I guess is the public company, they’re probably more in the public eye. I don’t know. What else do you think it’s a lot more,

Tyler: lot more aggressive with traditional marketing? I mean, of the two we just talked about, that’s their primary marketing is going to these restaurants and things. But you know, beyond meats, easy influencers, right. Which is interesting. A lot of influence. There’s a lot of really good ones and it’s easy to go to because if you knew a famous person’s a vegetarian boom, like it’s easy and they’re not going to not support your cause. Right. You know, they’re probably going to do it for free. So that was a good move for them. They’re going to a lot of athletes that are vegetarian. Um, and they’re, I, from what I saw, some people who are not vegetarian, they’re just trying to tap into as well.

RT: Yeah, no, it’s, and, and I think marketing the athlete, you know, needing the protein right from this alternative protein source that’s such a hot topic and great story right now. Yeah. Is that you can still run a marathon without eating, you know, animal based protein.

Tyler: Um, unbelievable engagement for both of them, for our brand beyond me has like a 3% engagement rate, which is really good with that many followers. Crazy. And so you could tell that loyal following is really impacting, I think, their business and they’re growing by like 50,000 followers a month. Yeah. It’s crazy. And they’re not really doing any, any advertising on social media. I think beyond meat we found some ads, um, but impossible foods, no ads, impossible,

RT: no advertisement at all on Facebook, which I guess kind of makes sense. You know what I mean? If they’re creating deals like that with those big brands and partners like burger King, burger Kings, doing the advertising for them. Right. I mean that’s, that makes sense. Yeah. I do like how impossible really focused on their mission.

Tyler: I mean, yeah, it seems more authentic. It seems to me between the two brands I like impossible is probably branding a little bit better. I think. Uh, I think they’re more genuine with their mission statement, which resonates. Yep. So it’d be fun to kind of watch the different demographics. Maybe one go this way and one go this way. Um, but I do like impossible’s branding. I think it’s really cool. Yeah.

RT: No, I, I like both of them, but you know, impossible. Like I said, about burger cans. Cool. That they just kind of work together on that packaging on the branding and said, okay, we’re going to put our company name in the product name. I just think that’s brilliant. Yeah. So sales and sales scorecard, we’re looking at just the overall traffic to the website. Yeah, this is going to tough, right?

Tyler: So direct consumer, we typically look at like, you know, the website, we look at the Amazon sales. That’s not happening here, you know, so they’re not selling anything on the website, but they’re getting a ton of traffic to the website. Yeah. Like they’re both impossible is getting 780,000 people and that data is coming from a spy Fu, um, beyond me 558,000 roughly per month. That’s a lot. And the ranking for a ton of keywords. Um, so they’re not even Trump’s social media and e-commerce, there’s all search.

RT: I mean 70 some percent just people are searching for impossible foods or beyond meat and getting to the website, you know, so it’s organic traffic.

RT: that stood out to me. The absolute, most of all statistics we’re going to see is that the search was so high and that exactly what you just said, that means that people are hearing the brand, hearing the messaging, searching for it. Yeah.

RT: They’re going to have to find where they can get it, all that kind of stuff. And I think that from, from looking at their websites, they both have basically like a store locator. Yeah. Um, so you can find, you know, either restaurants or grocery stores that sell these alternative meats. Um, and you know, I think it beyond meat did it a little bit better like their store locator in my opinion. Um, but impossible foods that it was very, very similar to like, I think that’s probably why people are going to the site is to to learn about what it is, what the ingredients are, what’s, what’s part of it. And then of course, where do I go find, yeah.

Tyler: I think both of the companies out there kind of hiding a little bit of their ingredients. I think what I would like to have seen was right on that front page or very easily like break down the ingredients and that kind of, sometimes when brands will do that, you kind of Giller leery of them. Right? Like what’s really in this stuff? Yeah. So I would have liked to seen them really pull those ingredients out and say, this is where this comes from, this is what it is, you know, be really thorough with it. Um, but they were doing a a decent amount. I just had a search for it.

RT: Yeah. And I think, you know, when we dive into the website specifically, I’m on beyond meets website right now and I think they do a great job. First of all, friend centers showing you where they are, right? So they’re in subway. Um, you know, they’re talking to KFC about that. I mean it’s, they, they’re talk about their beyond burger and then, uh, influencers ran underneath that. So they’re showing that gay, you know, famous people eat this stuff too. And then they have a really colorful section that shows you all their different basically products. And then underneath that recipes on how you would use the products. And I just think this is really cool, really clean. Um, and then of course their mission statement at the bottom it’s, I really like beyond meets website and like I said right at the top here it says where to find it and they have a locator and that locator just, you know, it makes it so easy to figure out where it is, what restaurants they’re in, what food service you can find them in. I like this a lot. It’s really clean.

Tyler: Yeah. So impossible. I like their website. I liked the use of color. Now typically with food I want to stick with like food-based colors, like the greens, the reds, like things that kind of elicit freshness. And like that’s where I like to see with the restaurant or with a, you know, a food based products but impossible uses like purples and blues and yellows, which I would typically be against. But they do it so well. It kind of, it’s kind of cool. It kind of comes across and says, Hey, like we’re different. Yeah, we’re okay with it.

RT: And their website is kind of like, um, you know, one of the websites I go to fairly often is called gear patrol. Yup. And it’s all about like watches and cool like gear stuff and outdoor backpacks, whatever. Um, the branding, like the font I think is the same white header. Like it’s there, the impossible website. It feels, cause it looks like that more like a news website or like I, I it’s, it’s probably on brand cause it’s, that’s what you’re coming to their website to do. Right. And you’re learning about their product. They’re really marketing their product. They’re not going to sell anything to you directly.

Tyler: And that mission is very clear. You know, like that’s one thing with, uh, with what they’re trying to do is like, you can argue both ways and like nutritional aspect of it, but then when they get into like their data on like what they’re trying to do to save the world and that kind of stuff and the impact of like traditional agriculture, like it makes you think about it.

Tyler: And I think they do a good job of resonating and getting that across. Um, whether you agree with it or not, that’s one thing. But they do a good job of getting across.

RT: Yeah. And I think the distribution strategy, like the sales strategy, we kind of talked about it. Um, but impossible seems really focused on those big brands. I mean, they got burger King. What was the stat you found on burger King? Just over the,

Tyler: uh, since they released impossible burger foot traffic and burger King as a complete system has increased 18%.

RT: So burger King, people walking into burger King has increased by 18% since they, since the impossible burger. I mean, I, I can personally vouch for that. Cause when they announced the impossible burger, I was like, you know, that we have two vegetarians that work in my shop and we were like, let’s go team lunch this week to burger King. Let’s go try it. And um, it was super fun and probably the first time had been in a burger King and a decade. Yeah. Um, but I bet there’s a lot of other people that it’s like, yeah, that was the first time I’ve gone to burger King a long time. And you know what, I’ll probably go back cause the impossible burger is quite good.

Tyler: And I bet the data on, you know, likes me to other restaurants or similar. Yeah. I guarantee I beyond meat. They, the subway KFC had a huge launch just passed away a couple of weeks ago. Yup. Um, I heard they sold out. Um, I also actually read there’s a shortage of some of these products as a United States as a whole because they’re selling so much.

RT: Just a alternative meats and white claw. Yes. Yes. Shortages. Welcome to America. There’s probably a marketing plan. I don’t maybe, um, but we should probably review that next because it goes two things.

RT: Take law. Yeah. Perfect. Yep. Um, so yeah, I mean I guess overall when we look at the, the brands against each other and we, we get into like our beer scorecard and look at how disruptive they are, um, you know, just going down the list when we saw the packaging of each brand, it’s hard to compare the packaging, right? Yeah. Because impossible. It’s the impossible burger. And of course it’s Qdoba is packaging and burger Kings packaging that we had, right. Versus beyond meat, they’re selling it through the grocery store or that reseller or whatever. So we got to experience something that beyond meat, you know, designed. Yeah. So it’s, it’s apples and oranges, but I was really impressed with beyond meat and how they could make their packaging stand out against those a traditional meat products, you know, on the shelf. I thought that was really cool.

Tyler: Yeah, pretty good. I mean I think from a shelf standpoint it was okay. It did stand out. I think they could probably, this is once again when I’m possible goes into grocery stores, right? Their branding’s gonna pop pop. It’s going to be the bright colors lean to in the wash because beyond meat, blacks muted colors a little bit more. The greens, more traditional like traditional like you kinda like and talked about, um, where impossible is going to have some, some pow packaging probably on the retail side.

RT: Yeah. And I guess that makes sense because the way I was thinking about it is like I’m a traditional meat customer and I, I’m already taking a risk eating something that’s not meat. So if it’s bright purple, I’m probably out. Yeah. You know what I mean? It’s a great, great poem, but I would think differently about that then apparently at least 25% of my generation, because those 25% are like, yep, I want the purple thing. It’s not meat. That’s why it looks different. I don’t know. So we’ll find out. Yeah. Yeah. It’s interesting.

Tyler: It’s funny how they’re separating themselves. Like you can see it more and more and more and more. It’s kind of interesting Butsa yeah, we’ll see what the retail looks like and when possible and they go in. Right.

RT: But I saw the, whoever designed the packaging of the impossible Whopper did a great job. Whether that was impossible or burger King or combination, most likely, you know, they made that packaging look sexier than a Whopper. Yeah. So, well,

Tyler: it’s innovative and it’s disruptive, right? Because you get a hamburger, it’s going to be wrapped in probably like a, a package, like a white paper or craft paper and all of a sudden you get something and it’s purple or blue, like you know, it was, it stands out. Yeah.

RT: And I, you know, at Qdoba they just put in the same thing. So I don’t know, maybe my feedback for Qdoba was like put a sticker on it that’s purple or cooler different. Right. You can stand out maybe, but as a,

Tyler: as a score on the beer scorecard, you know, you gave a, what’d you give here? You gave a seven to a, the packaging of impossible foods yet. And then I was at nine and we were reversed. Right? Yeah. So I liked beyond meats, packaging a lot. And I think just like I said, it was more traditional. It wasn’t scary. I’m already scared of the decision, need some use on me. So, um, that’s why I liked theirs and I’m, why’d you like impossible foods? Just because it’s just like that.

Tyler: different environment to it. Yeah, just something different. It stands out as disruptive and also we get excited about it.

RT: So we like, and, and then moving onto social, um, I gave beyond meat and ate and impossible foods is six reason beyond meat in my mind on a social scorecard is higher is because they’re using those influencers. Yeah. Um, they’re, they’re just, they’re really after that trust factor. Um, and, and it seems like impossible foods is doing that less direct and more through people like burger King. Yeah. I did the same.

Tyler: So because of the use of influencers in their effort on social media, I actually clear beyond meats a a little bit, a little bit better. Although I do think the feed on Instagram is actually brighter and their images much better on impossi. Impossible was way better. Yeah. Way better, way brighter. But I think the strategy is definitely beyond meat. Yep.

RT: So then we go into sales and conversion. Um, impossible foods. I gave a nine and beyond me, I give a six.

RT: And you were kinda, you were seven and eight. Um, for me, sales and conversions, I think that goes back to the co-branding with burger King. On the impossible. Wofford was a massive win. Right. That’s like the big Mac at McDonald’s in the jingle, right? Two all beef patties, special sauce, lettuce, cheese, pickles, Armenians on a Sesame seed bun. Everybody knows that. Yeah. The impossible burger was everywhere on the internet. That’s, you can’t buy that. Like I say, I did buy it. They paid for advertising, but burger King did that advertising for them and that’s brilliant. So that’s why I gave them a nine. Impossible. Just crushed it. Yeah. My take on it is I think that uh, beyond me is running faster. I think they are going quicker. They’re running faster. Um, I think they are, they realize this is such a race and that’s where that sales comes into play is the sales side of it is the fact that they’re winning the sales game.

Tyler: They’re winning it with whoever they’re talking to at the corporate level. Right. Subway, KFC, they’re winning that game. And so that’s why I give them nod.

RT: and finally the disruptive level or in this case, the dish Optive level. I’m on this little guy here. I was at 10 on both of them because, um, well I, I, I don’t know. It’s to me, both of them are doing something just nuts. Cause my world, you know, my customer is mostly baby boomers and so I’m always kind of in that mindset of like, how do you sell to that generation? And I see this kind of thing and I picture my customer saying like, no, absolutely no, none of this. What are these kids doing nowadays? You know, like that. And so from, from putting myself in their shoes, which, you know, to me that’s, that’s my consumer base. Um, it, they’re both attend like everything they’re doing is really disruptive. They’re taking something that should be almost impossible to sell to people like me who love meat and, and, you know, eat it with every meal and try to avoid salads and I’m sold weed tasted as good, you know,

Tyler: impossible. You just nailed it. It’s impossible, dude. Crazy. I know. They’re crushing it. It’s also like, I mean, I agree with a lot of the stuff you said. I did give them different rankings because I think once again, beyond his winning the race, and I think that is going to be ultimately they’re both going to be successful. They both turned down massive acquisition offers. We’re talking billions. Um, I mean, I think impossible is tried to be acquired in like 2014 for 500 million or something like that. So they turned it down then. So like, you know what it is now. Um, but I think beyond is winning. Now, here’s the thing, are these restaurant chains, is it going to be viable for them longterm? So once the coolness factor wears off and all of these launches, that’s when the real business begins. What happens? You know, are they going to be throwing product away because they’re not selling it? Like is it gonna get, is it gonna go bad? Like, like how is that going to affect us two years down the road? What’s going to happen? Right? Or is it going to be the new thing? Is it going to be an adoption where half the sales from burger King comes from fake? I don’t see fake me, but alternative meat alternatives is a 50, 50 now almost. I don’t know.

RT: And will we see it in every restaurant? We sit down and be like, do you want this burger or do you want this burger?

Tyler: You know, like, um, that’s what they’re trying to do. I mean, they’re trying, like we said when we tasted this, they’re trying to go after people like us. Yeah. Not the vegans or vegetarians. They’re going to eat that no money. They’re just there from day one. They already have options. They can go to whole foods and buy, you know, all kinds or something like that. This is a whole another ball game. They won’t after you and me. Yep.

RT: No, that’s so cool. So what was your biggest takeaway in general from diving into these two companies?

Tyler: Well, I mean, we typically say like, what’s a takeaway? We’re going to take back their own businesses, right? So like me going back to rebel, Jane, you go back to boards, they go like, what are you going to take back? For me, it’s the ability to leverage a distribution channels as a marketing tool. You know, like watching beyond me do what they did with all these brands and now it’s like a household name almost crazy. That’s an unbelievable thing that I could do with retail. You know, go into retail all of a sudden rebel Jane’s more of a household name and I’m not having to pay for that advertising. So I think leveraging your distribution channels as marketing channels. Yup. That’s my takeaway.

RT: And to piggyback on that, it’s pretty much the same takeaway from me, but I really liked the store locator features on those websites because that’s something I get all the time is where can I go see your watches in person. And I think I just want to do a better job in both of those and, and try to figure out how I can tell my customer where they can go find my watches. Yeah. And literally use my, I don’t have very many but use my stores as those distribution points. Um, and you know, even add in the events that I’m going to, um, cause I do a lot of events. I think that would be cool if you’d be like, bro, bring up a store locator and say we’re doing a pop up in Austin from this time, this time. Cause then somebody will just put it on their calendar. Yeah. Um, so I, I sh I really should do a better job at that, so that’s fine.

RT: So it’s so cool to see these companies coming out and taking something that was so boring. Right. Alternative needs. Yeah. Veggie burgers right up and making it a multibillion dollar industry. Just two companies. It’s, I mean it’s like the whole reason we started this thing. Absolutely. We found some things that are going to help our brains a hundred percent, hundred percent. Right. Yeah. Um, so that’s kinda it. We’ll kind of wrap it here. And so just to go back on that beer score card, just to talk about that real quick. The winner was beyond me, beyond me. And so that means that we want to find the founder of beyond meat, have a beer with them and to talk more. So if you know that person, let’s make that happen. Hook us up. Yeah. Give away another watch her. Do you give that up? Yeah, I already have it. Jennifer Garner.

Tyler: All right, so subscribe on YouTube. Um, obviously you can find us on Instagram, Facebook products. We’re talking about.com, and if you have a disruptive product, or maybe you already have, when you have an idea, whatever, let us know. Like, you know, we love to talk to founders or even founders, but just ideas because we, this is our thing is this is 100% or thing. It’s literally what gets us going. Yeah. So next time we’ll see you later. Yeah.

FULL TRANSCRIPT

RT: welcome products we’re talking about. I’m RT. This is Tyler and today we’re discussing something really disruptive, disruptive,

RT: alternative meats. Oop. All right, so why are we talking about it? Well, I think because both you and I eat meat pretty much every meal. I love meat. We uh, pretty much always get like the steak and eggs at ginger Baker. Yeah, we both get it all the time. And when somebody was telling us that like beyond meat went public and their stock tripled in a day, it was like, what’s beyond meat? Why would anyone not eat meat?

Tyler: Well, it’s been everywhere. Like what is happening all over the place? Yeah. All these commercials on TV, it’s been nuts. Right? So like we started digging into it and the stats are mind blowing. Oh, sorry. Yeah. So here’s a couple of things. We found these come a lot from trends, which is a pure, uh, article we like to read. Um, it’s by the hustle, but they have a re they do a really good job of breaking down disruptive products and companies. Yup. So here’s a couple of stats are mind blowing. So 25% of Americans ages 25 to 34 and now identify as a vegan or vegetarian.

RT: So basically a quarter of millennials are vegetarians.

Tyler: They identify, it doesn’t mean they’re eating veggies every day, not a hundred percent. Sometimes people say they’re vegan and whatever else, they’re really not, but right.

RT: But 25% of that 10 year age, I mean, there’s millions of people.

Tyler: And we knew with food products, if you get people hooked early, you know, it’s like these protein bars and stuff, they’re gonna stay with you for a long time for sure. So the acquisition cost goes way down, way down. Um, so since 2009, uh, the plant food market has grown over 430%. Jeez. Which is crazy. And it’s projected to be a 25 billion, uh, in five years.

RT: The whole plant food plant, [inaudible] Flint plant boot flam, geez. Can’t talk plant boobs. Boom, pause plant boobs.

RT: So the, the whole plant based food industry is how many billions it’s projected to be 25 billion. 25 billion. That’s crazy. Yeah. Um,

Tyler: so these companies we’re talking about today, impossible foods and beyond me, they’re evaluations are mind blowing too. Oh, it’s crazy.

RT: I mean though, the one company was it, I think it’s beyond meat. They did like 88 million in revenue in 2018 but their stock market valuation is like 11 billion. Yeah. So that, that does not equate for me at all. But they’re very valuable company and they’re doing some awesome stuff.

Tyler: And this is exciting because this is one of my favorite segments, right? You have a boring segment cause alternative like hamburgers and things like soy burgers. I’ve been around forever. Right. But it’s an alternative product and it’s kind of boring. But all of a sudden you’ve got these companies coming in and having excitement. Yeah. You know, and those are my favorite kinds of disruptions. And these companies come and say, Hey, we have something better. Take a look.

RT: And the general public is getting on board. It’s not like just a little niche kind of thing happen in a corner of America. This is everybody saying like, wow, let’s go try that impossible burger. It looks kind of good.

Tyler: Yeah. And I think this is the tip of the iceberg. So it’s really exciting as longterm there. They’re saying they’re going to start growing meat in labs and like they’re going to have massive, you know, warehouses are massive labs that are growing meat that’s actually bio-identical. That’s better than current meat. Crazy. It’s going to taste the same. So that’s why there’s a lot of money being poured in this industry because I think this is just the beginning.

RT:

RT: Yeah. And it’s a disruptive product, so that’s why we’re talking about it.

Tyler: All right. Sticking to the companies. Impossible foods. Yeah, we’ll do that one first. Yep. So year founded 2011. Yeah, founder is Patrick Brown. They’ve got 370 employees on LinkedIn. Right. And that could be off a little bit, but they’ve [inaudible] 70, most of.

RT: these companies are growing so fast that they’re probably not keeping your LinkedIn profile as updated as it could be. Yeah.

Tyler: A Redwood city, California is where they’re located. Cool. Um, they’ve taken tons of money. 600 million, I think it’s maybe more than that at this point. Um, they’ve taken it from big players, Google, um, bill Gates. Um, some foreign entities that are big players too. I mean they have, they have money through being thrown at them constantly.

RT: And of the two we’re talking about, they’re still a private company. They’re not public, so private. So some of the data, um, is not as available as the other one.

Tyler: Yeah. So private, they were the first, the party though, you know, the first big player, like I said, this has been around for a while. First big player and that’s why people are excited about it. But the story behind it is in 2009, a professor Patrick Brown, the founder, um, was just really adamant about changing how animals were being treated, I guess traditional farming. And he, you know, did some, some, I guess conferences and really try to get people engaged with it and realize people didn’t care. So he set out and he’s like, I’m just going to create a hamburger to compete with traditional hamburger. Right. And so that’s where we’re at now. I was like, he’s just like, I’m going to go and I’m going to sell it to burger King and McDonald’s and so on and so forth. I’m going to make people love my product.

RT: Yep. And that’s a wrap. Take market share from the people he didn’t like. Yeah. That makes total sense. Yeah. That’s so cool. So beyond meet the, uh, the other one, the competitor, right? They say a year founded 2009, um, founders, Ethan Brown, same last name. Maybe there’s some kind of, you know, maybe they’re both owned by the same family. We don’t know about it. It’s, it’s different. It’s a different Brown, Brown, Brown and Smith. [inaudible] American names, right? Ethan Brown, founder of beyond meat, 272 employees on LinkedIn. Wikipedia said a much higher number, closer to 400, so same kind of thing. They’re growing so fast. Public company now this one, um, El Segundo, California is where they’re from. And um, recorded funding so far according to Crunchbase, so 122 million from seven different rounds. And uh, bill Gates is in this one too. It’s interesting size. Um, and Tyson foods or saw that was interesting. They’re trying to get into the alternative meat. Right? And the humane society of course, that that totally makes sense. This will be an investment that the humane society will be behind. Um, interesting fact. You know, just what I said earlier, they did an 88 million in revenue in 2018 but yet their stock market valuation puts them at 11 billion in value. That it just, it’s worth saying again, it’s just crazy. And there were the $11 billion and a triple the first day. Right. And it tripled the first video and I missed it. I didn’t invest. And recently they did a beyond fried chicken with KFC and it’s sold out in like a matter hours.

Tyler: They are with, we’ll talk about this later, but they’re there. KFC, subway, uh, we, we found like five or six restaurant chains and they’re really even going down to like the regional chains. Right. The smaller chains. Yeah. Which is incredible.

RT: Yeah. Just trying to put as many friends there, put it in front of as many people as possible. Yeah. So, um, I say we’d go upstairs to the deck, light up the Trager and grill up some meat. Let’s do it. Cool. Let’s roll.

Speaker 4: Okay.

RT: Welcome to product’s worth talking about studios deck style. We’re out on the deck today with the Trager cooking beyond meat Seon meet. So we got, we got, got an Italian sausage and I’m the burgers. Hamburgers beyond the beyond burger plant based burger patties. Is it 20 grams of 20 grams? Yeah man. How many grams of protein does a like a beef burger? About the same. So these are like four ounces. So we burger have like probably 20 to 24. So it says that we need to cook them until it gets to like 165 internal temperature, which is pretty much similar to meet standard. Yeah. Um, we got the grill up to about three 50, 400 should workout and we’re going to do like five minutes aside on both of them and see what happens. And um, kind of go from there. So

RT: sausage looks kind of like dog poop,

Tyler:

RT: but the texture looks interesting. It’s a little soft. Most smells great. The way you broke it apart was kind of like, you know, when a dog is taking a poop and it kind of breaks apart as it falls out. No, I don’t know that it’s the same exact thing that I’ve seen before.

RT: All right, let’s meet, meet for day, get down to some alternative meat right now.

Tyler: Okay. So we went outside, we cooked this stuff, right. So we already had the impossible products from Qdoba burger King. We went outside and did the, the other one. So now we have our sausage and our hamburgers. Yep.

RT: So this right here is beyond meat, sausage and hamburgers. And then we have the impossible burger from burger King and the impossible, what do we call it? Bowl bowl and possible blossom.

RT: We’ll bowl from Qdoba and uh, where do we start?

Tyler: Yeah. So yeah. Okay. So this is how it breaks out. So as far as pricing and things like that, so you can buy this whole foods. There’s similar grocery stores also that has it. Um, and you’re looking at four, you get two, four ounce patties and they are a five 99. And then the sausage, which you get four of which comes in a package like this, you get four of those. Um, it can be little more expensive at eight 99. Okay. So for the sausage patties we kept, one is raw, so you can kind of see how that looks. So what’s your take on that? RT? How’s it look? Um,

RT: it looks like dog poop. It smells great. It smells great. Succulent, that’s discussing.

Tyler: We’re going to eat this dude. Yeah. Well now it’s cooked well.

RT: It’s still okay. You would, you, you got to separate. You need it. Well, first of all, you got to separate all of that stuff in your mind. Okay. One side out the other. Oh, deep breath. Woosah.

Tyler: Okay, so it does, I mean it looks, it looks like putty. You’re kind of feels like putty. Remember when you got me to eat the soap? Yeah, I feel like you should try that right now. You could die if you did that. Maybe. Really? I don’t know. It’s raw. Somebody who email us and tell me if we can get like raw, I’m sure usable and beyond me. I’m sure somebody from the company is like, absolutely don’t do that. Um,

RT: somebody on YouTube and be like, yeah, I’m an expert. Yeah, just totally dive in. All right. Okay. So here’s the cook stuff. I got a couple of bites for both of us from the hamburger and the sausage go and right here. Um, I say, let’s just start with beyond meat. Okay. So this is the sausage. Let’s try that. Marriage need of a man.

Tyler: I don’t need that for it. You haven’t got a bigger fork for you cause I thought you’d say that.

RT: It’s supposed to be hot Italian sausage.

Tyler: So the texture is nothing like a regular brought. No, it’s more of a greenie texture.

RT: when you bite into it. You don’t get that like really like that surface finish. You know that a bra has where you like bite but it has it.

Tyler: So you have like a little bit of like a uh, it’s decent. Yeah.

RT: The casing is D, it’s there as far as like the hot Italian spices. I’m getting all of that. Like it tastes, yeah, it’s good. It’s really, this is the, the let’s go hot Italian sausage.

Tyler: Okay. So I’m rolling with a hammer, which if you look at this like there’s juice. I mean the juice actually comes out of whatever the juice is coming from, which is, it’s beet juice, right? Yeah. Weird. Well this doesn’t smell like a hammer.

RT: Yeah, I shouldn’t have smelled that.

RT: I think cause you said it was beat. Now I taste beat. But you know, texture is close and it has like.

Tyler:

RT: the smoky kind of flavor to it or like a that’s coming off your grill a little bit. Yeah. But like it, it took on that flavor so I got a hamburger. Right. You cook it on the grill, it gets that flavor. Treger um, but that comes through so absorbs it. Yeah. And the honestly the texture is good. This was good. Yeah. The HAMP hamburger and should we do, do we have to do this every time? No. Pam chicken. If.

Tyler: it was on a bun with cheese and whatever else, whatever you like your hamburgers, it would probably be about 75% there. Yeah, no, I took it to 165 degrees. We like, they recommend. Yup. I don’t know if you can undercook it. Maybe. I know it tastes different. Like more like a hammer. I don’t know.

RT: Or even make over cookie. I make it crispy. Yeah, definitely. Like if I could they get tray or doesn’t really get as hot as a standard grill. So I wonder if you got really hot and like kind of made it crispy on the outside. It might be different.

Tyler: It’s good if it, it’s different. It’s good. I’ve never tried meat before. Yeah, it’s a good alternative. I mean, have you ever had like the old soy patties and stuff? I mean, they’re absolutely horrible. Um, it’d be on the meat. I like it. Okay.

RT: I’m gonna just keep, I’m actually really hungry. How are you? [inaudible] okay, so we’re moving on.

Tyler: So this is going to be the impossible products. Not impossible. As we, you know, we’ve talked about the distribution is through restaurants. They’re not going to be in grocery stores yet. They’re coming very soon, uh, to grocery stores. But we went down to burger King across the street. Yup. We’d done Kadaba. Yeah, we got the impossible Whopper and the bolt.

RT: Cool. So I think we should both try the Whopper. So let’s do it. And then, and then moving,

Tyler: that smells really good. Like that looks, smells.

RT: It looks just like, it looks like a taco salad. You know, I, I, if you told me that was Tereso I will, I don’t trust you. So rather just work with you. You should never, um, after this.

Tyler: So this is like a Whopper, right? So it’s covered in and Mayo or whatever sauce that is.

RT: We go, we got um, there’s pickles, tomato, lettuce. The whole blood is hoping. Is there cheese in this, Ethan? I don’t think so. I think there’s no cheese. Perfect. Okay. Here we go.

RT: You know when you put all the other stuff in there, that’s the funny thing. Like you know it’s covered and stuff and it actually tastes just like a walk. Right? That almost tastes like a Whopper.

Tyler: cause you’re tasting 90% of a ton of mayonnaise and lettuce. Right.

RT: So now I just grabbed a little bit of the burger itself. Try to compare that to the [inaudible].

Tyler: This looks just like a Whopper too. It looks like elbows. A wiper burger.

RT: Yeah, the impossible burger. And you know what the texture is, right? You know, cause you’re kind of like, it has these little pieces and chunks like a Whopper does. A traditional beef burger would have do ask close. Riley do that. This tastes it’s really good and it has that flame broiled. You know what? Burger King advertisers are like the flip flip frame. Their flame grilled, right? It’s good.

Tyler: I like it. Okay, I’m going to keep beating this. And so we did not have any an acronyms, which was a horrible idea. Oh God. Eight then. Yes, producer, producer eat then. All right. Well ma’am, so the takeaway on those, which we haven’t got at the bowl yet, but they’re good hamburger, good legitimate shit.

RT: When you put the Mayo and the lettuce and the, I mean the pickles, you just tasted the whole thing together. It’s awesome. It’s solid. Okay. So this one, this is basically a taco salad. Yup. A bowl that you would get without, uh, without any meat. So this is, is this, now this is going to be no seasons.

Tyler: So this is going to be a well seasoned products. The seasoning covers up that covers up, but it really enhances the flavor I think when you dump all the other. So right now we have tomatoes, onions, no, we kind of made it like a mini bowl shelf. So yeah, a little bit of rice. So you know, you’re taking all that in with it.

RT: But you know, I just got a bite, a just ground impossible meat. And with the seasoning, I mean it tastes like a taco meat. Yup. It’s awesome. Come on in. Nathan showed the cat shirt. Yes. You’d a man. All right. Thanks Paul. Awesome. Yeah. Um, gosh, it’s good. Yeah.

Tyler: When you, when you do your thing as a restaurant, it makes sense and it actually tastes really good. It’s a great, I’m impressed here. These could have been great if we would have probably did the same thing.

RT: Honestly though. The sausage was awesome. Like I could just eat one of those without a Bon or anything like that. I, I thought it was really good. The burger, you’re right. Like you, you need all the other toppings and yeah. Yeah. And all that stuff. And, and um, with, with the taco salad, I mean, like I said, I, if you told me that I was trees you, I’d probably eat. It’d be like, yeah. It just really good.

Tyler: So as far as pricing, yeah. Um, those are five 59 for the Whopper, Whopper from burger King, five and nine, and then nine 95 for the bowls. I think that’s a little more expensive. Maybe, maybe legal or two. Yeah, very close. The Whopper meal was 19 years ago. So it’s very similar for the meal. Right. For, you know, from both places. But then, um, you know, when, when you look at just the cost of the meat in there,

RT: I don’t think that’s well outside the range of if that were, you know, Theresa or if this was um, you know, a regular Whopper, I think it might be a dollar or two more than the regular white.

Tyler: And this is what the packaging looks like for beyond me, the sausage. So these guys are, you can just pick that up at whole foods or whatever it basically was just in the refrigerated section. Um, we’ve got a picture we’ll, we’ll link down below and so I’ll kind of show you how that was set up. But, uh, it came in that with four sausages in there and then we also have the two hammers. Yup. And those just come in a simple package like this.

RT: And two hamburgers was six bucks. Yup. And the four sausages were nine bucks. Yup. Which seems probably twice as expensive as like a beef Patty from like Walmart.

Tyler: Well, yeah, if you sat next to like, Oh, so whole foods and then ultimately pricing, I mean, followers are grass fed beef. It’s roughly five 99 a pound or six 99 a pound. They’re so similar. More expensive. Yeah. The sausage is probably twice.

RT: what a sausage was being cause sausages are cheap to make. Like pork sausage is probably really cheap to me, but like to spend an extra dollar if you are a vegetarian or vegan and you don’t want to eat meat, I think this is a slam dunk. It tastes so good for someone who pretty much eats meat in every single meal. Yeah. I, you could totally trick me with this stuff. So I’m impressed. Yeah.

Tyler: And from my health perspective, so we talk in like macronutrients. They’re very similar to me. So they’ve made these where there’s a lot of fat in them. Um, there’s going to be, you know, comparable protein. Um, and they’ve done that for a reason because they want you to believe you’re eating a hamburger. So they’re not just going after vegans and vegetarians. They’re going after meat eaters. Right. They’re going after. Exactly us right here. So people who are like, I don’t know about this, and we try it and I’m like, okay, because it’s got the juiciness to it, it’s got that flavor, got the texture. So from a macro nutrient standpoint, it’s going to be very sliver to hamburger. Um, in terms of ingredients, you know, I’m not a nutritionist, but like I am a nutrition field, so I understand what they put in this stuff. There’s some things in there that are probably, I don’t want to say not good for you, but like there are some things in there that they’ve used to make it, you know, feel and taste and look a certain way. The texture, yeah. Fillers or something like that. Yeah, they are. Overall, they’re a, they’re an alternative to meat. And so you can expect some of that.

RT: Yeah, I mean, my like first impressions, uh, this was my first impression. I’m going to continue eating. That’s done. Done.

RT:

RT: So, um, let’s wrap this up, put this away and um, actually I’m just gonna eat it and then get into business. Let’s do it.

RT: All right. So let’s dive into the social scorecard. Show me.

Tyler: Yup. So as a whole, I mean these brands, it’s unique because we do a lot of like direct consumer type of products. So this is completely different. You know, you’ve got two brands that are definitely competing, gives each other and it’s just a race. Yeah. How many restaurant chains, how many grocery stores? I mean they’re just competing head to head.

RT: cause I can’t imagine from just an overall perspective like what do you do if you’re a salesperson for one and not the other, like to a restaurant. I mean you owned a restaurant. Like how would you make the decision on which one of these two to put in your alternative meat tacos, you have to go by flavor, right? And price. No flavor and price. So like you know,

Tyler: I guarantee you beyond meat, from what I’ve seen, the growth rate, they’re going to these big players and they’re basically maybe losing money, you know, just saying, just get in, get us in front. Because they’re using restaurant chains as their marketing. Like what we’ve seen in like, not a lot of marketing, not a lot of ads, not nothing like that. They’re saying, let’s go to the end user via somebody else’s channel and we’re going to use them. Yeah. So that’s where they’re winning. I bet you they’re losing money on a lot of these transactions. They’re a bigger burger King or KFC or whatever.

RT: Right. Well, and it’s interesting because I think from that perspective, impossible foods did a great job with, I mean they, they just partnered with burger King and it’s called the impossible burger. So from like a branding perspective, they put their name in the product name, the impossible burger, go try it at burger King. You know, I saw that ad and I went and tried it. Yeah. I mean, it worked. I mean, I haven’t seen beyond do that as my mini the KFC recently.

Tyler: Right. But, but if you were CEO of impossible, you’d be willing to say, Hey, I’m going to give you products for your 7,000 restaurants. Right. For one month. Yeah. Two months. Yeah. That’s going to impact the bottom line of burger King tremendously. Mind-blowingly yeah. And if you can send a contract for three years to sell our product or even 12 months, whatever, that customer acquisition and liquid just happen to us. We just went and we just bought it. Right. You know, so like you’re kinda like, okay, I’m kind of hooked. I would be surprised. I would love to see the back end of what’s happening there.

RT: I mean, the salespeople on both sides are just wheeling and dealing. That has to be, has to be having, so anyway, like from a, from a social perspective though, um, beyond meat has almost 800,000 Instagram followers and impossible foods has a little more than 200,000 even though it seems like, I mean beyond me I guess is the public company, they’re probably more in the public eye. I don’t know. What else do you think it’s a lot more,

Tyler: lot more aggressive with traditional marketing? I mean, of the two we just talked about, that’s their primary marketing is going to these restaurants and things. But you know, beyond meats, easy influencers, right. Which is interesting. A lot of influence. There’s a lot of really good ones and it’s easy to go to because if you knew a famous person’s a vegetarian boom, like it’s easy and they’re not going to not support your cause. Right. You know, they’re probably going to do it for free. So that was a good move for them. They’re going to a lot of athletes that are vegetarian. Um, and they’re, I, from what I saw, some people who are not vegetarian, they’re just trying to tap into as well.

RT: Yeah, no, it’s, and, and I think marketing the athlete, you know, needing the protein right from this alternative protein source that’s such a hot topic and great story right now. Yeah. Is that you can still run a marathon without eating, you know, animal based protein.

Tyler: Um, unbelievable engagement for both of them, for our brand beyond me has like a 3% engagement rate, which is really good with that many followers. Crazy. And so you could tell that loyal following is really impacting, I think, their business and they’re growing by like 50,000 followers a month. Yeah. It’s crazy. And they’re not really doing any, any advertising on social media. I think beyond meat we found some ads, um, but impossible foods, no ads, impossible,

RT: no advertisement at all on Facebook, which I guess kind of makes sense. You know what I mean? If they’re creating deals like that with those big brands and partners like burger King, burger Kings, doing the advertising for them. Right. I mean that’s, that makes sense. Yeah. I do like how impossible really focused on their mission.

Tyler: I mean, yeah, it seems more authentic. It seems to me between the two brands I like impossible is probably branding a little bit better. I think. Uh, I think they’re more genuine with their mission statement, which resonates. Yep. So it’d be fun to kind of watch the different demographics. Maybe one go this way and one go this way. Um, but I do like impossible’s branding. I think it’s really cool. Yeah.

RT: No, I, I like both of them, but you know, impossible. Like I said, about burger cans. Cool. That they just kind of work together on that packaging on the branding and said, okay, we’re going to put our company name in the product name. I just think that’s brilliant. Yeah. So sales and sales scorecard, we’re looking at just the overall traffic to the website. Yeah, this is going to tough, right?

Tyler: So direct consumer, we typically look at like, you know, the website, we look at the Amazon sales. That’s not happening here, you know, so they’re not selling anything on the website, but they’re getting a ton of traffic to the website. Yeah. Like they’re both impossible is getting 780,000 people and that data is coming from a spy Fu, um, beyond me 558,000 roughly per month. That’s a lot. And the ranking for a ton of keywords. Um, so they’re not even Trump’s social media and e-commerce, there’s all search.

RT: I mean 70 some percent just people are searching for impossible foods or beyond meat and getting to the website, you know, so it’s organic traffic.

RT: that stood out to me. The absolute, most of all statistics we’re going to see is that the search was so high and that exactly what you just said, that means that people are hearing the brand, hearing the messaging, searching for it. Yeah.

RT: They’re going to have to find where they can get it, all that kind of stuff. And I think that from, from looking at their websites, they both have basically like a store locator. Yeah. Um, so you can find, you know, either restaurants or grocery stores that sell these alternative meats. Um, and you know, I think it beyond meat did it a little bit better like their store locator in my opinion. Um, but impossible foods that it was very, very similar to like, I think that’s probably why people are going to the site is to to learn about what it is, what the ingredients are, what’s, what’s part of it. And then of course, where do I go find, yeah.

Tyler: I think both of the companies out there kind of hiding a little bit of their ingredients. I think what I would like to have seen was right on that front page or very easily like break down the ingredients and that kind of, sometimes when brands will do that, you kind of Giller leery of them. Right? Like what’s really in this stuff? Yeah. So I would have liked to seen them really pull those ingredients out and say, this is where this comes from, this is what it is, you know, be really thorough with it. Um, but they were doing a a decent amount. I just had a search for it.

RT: Yeah. And I think, you know, when we dive into the website specifically, I’m on beyond meets website right now and I think they do a great job. First of all, friend centers showing you where they are, right? So they’re in subway. Um, you know, they’re talking to KFC about that. I mean it’s, they, they’re talk about their beyond burger and then, uh, influencers ran underneath that. So they’re showing that gay, you know, famous people eat this stuff too. And then they have a really colorful section that shows you all their different basically products. And then underneath that recipes on how you would use the products. And I just think this is really cool, really clean. Um, and then of course their mission statement at the bottom it’s, I really like beyond meets website and like I said right at the top here it says where to find it and they have a locator and that locator just, you know, it makes it so easy to figure out where it is, what restaurants they’re in, what food service you can find them in. I like this a lot. It’s really clean.

Tyler: Yeah. So impossible. I like their website. I liked the use of color. Now typically with food I want to stick with like food-based colors, like the greens, the reds, like things that kind of elicit freshness. And like that’s where I like to see with the restaurant or with a, you know, a food based products but impossible uses like purples and blues and yellows, which I would typically be against. But they do it so well. It kind of, it’s kind of cool. It kind of comes across and says, Hey, like we’re different. Yeah, we’re okay with it.

RT: And their website is kind of like, um, you know, one of the websites I go to fairly often is called gear patrol. Yup. And it’s all about like watches and cool like gear stuff and outdoor backpacks, whatever. Um, the branding, like the font I think is the same white header. Like it’s there, the impossible website. It feels, cause it looks like that more like a news website or like I, I it’s, it’s probably on brand cause it’s, that’s what you’re coming to their website to do. Right. And you’re learning about their product. They’re really marketing their product. They’re not going to sell anything to you directly.

Tyler: And that mission is very clear. You know, like that’s one thing with, uh, with what they’re trying to do is like, you can argue both ways and like nutritional aspect of it, but then when they get into like their data on like what they’re trying to do to save the world and that kind of stuff and the impact of like traditional agriculture, like it makes you think about it.

Tyler: And I think they do a good job of resonating and getting that across. Um, whether you agree with it or not, that’s one thing. But they do a good job of getting across.

RT: Yeah. And I think the distribution strategy, like the sales strategy, we kind of talked about it. Um, but impossible seems really focused on those big brands. I mean, they got burger King. What was the stat you found on burger King? Just over the,

Tyler: uh, since they released impossible burger foot traffic and burger King as a complete system has increased 18%.

RT: So burger King, people walking into burger King has increased by 18% since they, since the impossible burger. I mean, I, I can personally vouch for that. Cause when they announced the impossible burger, I was like, you know, that we have two vegetarians that work in my shop and we were like, let’s go team lunch this week to burger King. Let’s go try it. And um, it was super fun and probably the first time had been in a burger King and a decade. Yeah. Um, but I bet there’s a lot of other people that it’s like, yeah, that was the first time I’ve gone to burger King a long time. And you know what, I’ll probably go back cause the impossible burger is quite good.

Tyler: And I bet the data on, you know, likes me to other restaurants or similar. Yeah. I guarantee I beyond meat. They, the subway KFC had a huge launch just passed away a couple of weeks ago. Yup. Um, I heard they sold out. Um, I also actually read there’s a shortage of some of these products as a United States as a whole because they’re selling so much.

RT: Just a alternative meats and white claw. Yes. Yes. Shortages. Welcome to America. There’s probably a marketing plan. I don’t maybe, um, but we should probably review that next because it goes two things.

RT: Take law. Yeah. Perfect. Yep. Um, so yeah, I mean I guess overall when we look at the, the brands against each other and we, we get into like our beer scorecard and look at how disruptive they are, um, you know, just going down the list when we saw the packaging of each brand, it’s hard to compare the packaging, right? Yeah. Because impossible. It’s the impossible burger. And of course it’s Qdoba is packaging and burger Kings packaging that we had, right. Versus beyond meat, they’re selling it through the grocery store or that reseller or whatever. So we got to experience something that beyond meat, you know, designed. Yeah. So it’s, it’s apples and oranges, but I was really impressed with beyond meat and how they could make their packaging stand out against those a traditional meat products, you know, on the shelf. I thought that was really cool.

Tyler: Yeah, pretty good. I mean I think from a shelf standpoint it was okay. It did stand out. I think they could probably, this is once again when I’m possible goes into grocery stores, right? Their branding’s gonna pop pop. It’s going to be the bright colors lean to in the wash because beyond meat, blacks muted colors a little bit more. The greens, more traditional like traditional like you kinda like and talked about, um, where impossible is going to have some, some pow packaging probably on the retail side.

RT: Yeah. And I guess that makes sense because the way I was thinking about it is like I’m a traditional meat customer and I, I’m already taking a risk eating something that’s not meat. So if it’s bright purple, I’m probably out. Yeah. You know what I mean? It’s a great, great poem, but I would think differently about that then apparently at least 25% of my generation, because those 25% are like, yep, I want the purple thing. It’s not meat. That’s why it looks different. I don’t know. So we’ll find out. Yeah. Yeah. It’s interesting.

Tyler: It’s funny how they’re separating themselves. Like you can see it more and more and more and more. It’s kind of interesting Butsa yeah, we’ll see what the retail looks like and when possible and they go in. Right.

RT: But I saw the, whoever designed the packaging of the impossible Whopper did a great job. Whether that was impossible or burger King or combination, most likely, you know, they made that packaging look sexier than a Whopper. Yeah. So, well,

Tyler: it’s innovative and it’s disruptive, right? Because you get a hamburger, it’s going to be wrapped in probably like a, a package, like a white paper or craft paper and all of a sudden you get something and it’s purple or blue, like you know, it was, it stands out. Yeah.

RT: And I, you know, at Qdoba they just put in the same thing. So I don’t know, maybe my feedback for Qdoba was like put a sticker on it that’s purple or cooler different. Right. You can stand out maybe, but as a,

Tyler: as a score on the beer scorecard, you know, you gave a, what’d you give here? You gave a seven to a, the packaging of impossible foods yet. And then I was at nine and we were reversed. Right? Yeah. So I liked beyond meats, packaging a lot. And I think just like I said, it was more traditional. It wasn’t scary. I’m already scared of the decision, need some use on me. So, um, that’s why I liked theirs and I’m, why’d you like impossible foods? Just because it’s just like that.

Tyler: different environment to it. Yeah, just something different. It stands out as disruptive and also we get excited about it.

RT: So we like, and, and then moving onto social, um, I gave beyond meat and ate and impossible foods is six reason beyond meat in my mind on a social scorecard is higher is because they’re using those influencers. Yeah. Um, they’re, they’re just, they’re really after that trust factor. Um, and, and it seems like impossible foods is doing that less direct and more through people like burger King. Yeah. I did the same.

Tyler: So because of the use of influencers in their effort on social media, I actually clear beyond meats a a little bit, a little bit better. Although I do think the feed on Instagram is actually brighter and their images much better on impossi. Impossible was way better. Yeah. Way better, way brighter. But I think the strategy is definitely beyond meat. Yep.

RT: So then we go into sales and conversion. Um, impossible foods. I gave a nine and beyond me, I give a six.

RT: And you were kinda, you were seven and eight. Um, for me, sales and conversions, I think that goes back to the co-branding with burger King. On the impossible. Wofford was a massive win. Right. That’s like the big Mac at McDonald’s in the jingle, right? Two all beef patties, special sauce, lettuce, cheese, pickles, Armenians on a Sesame seed bun. Everybody knows that. Yeah. The impossible burger was everywhere on the internet. That’s, you can’t buy that. Like I say, I did buy it. They paid for advertising, but burger King did that advertising for them and that’s brilliant. So that’s why I gave them a nine. Impossible. Just crushed it. Yeah. My take on it is I think that uh, beyond me is running faster. I think they are going quicker. They’re running faster. Um, I think they are, they realize this is such a race and that’s where that sales comes into play is the sales side of it is the fact that they’re winning the sales game.

Tyler: They’re winning it with whoever they’re talking to at the corporate level. Right. Subway, KFC, they’re winning that game. And so that’s why I give them nod.

RT: and finally the disruptive level or in this case, the dish Optive level. I’m on this little guy here. I was at 10 on both of them because, um, well I, I, I don’t know. It’s to me, both of them are doing something just nuts. Cause my world, you know, my customer is mostly baby boomers and so I’m always kind of in that mindset of like, how do you sell to that generation? And I see this kind of thing and I picture my customer saying like, no, absolutely no, none of this. What are these kids doing nowadays? You know, like that. And so from, from putting myself in their shoes, which, you know, to me that’s, that’s my consumer base. Um, it, they’re both attend like everything they’re doing is really disruptive. They’re taking something that should be almost impossible to sell to people like me who love meat and, and, you know, eat it with every meal and try to avoid salads and I’m sold weed tasted as good, you know,

Tyler: impossible. You just nailed it. It’s impossible, dude. Crazy. I know. They’re crushing it. It’s also like, I mean, I agree with a lot of the stuff you said. I did give them different rankings because I think once again, beyond his winning the race, and I think that is going to be ultimately they’re both going to be successful. They both turned down massive acquisition offers. We’re talking billions. Um, I mean, I think impossible is tried to be acquired in like 2014 for 500 million or something like that. So they turned it down then. So like, you know what it is now. Um, but I think beyond is winning. Now, here’s the thing, are these restaurant chains, is it going to be viable for them longterm? So once the coolness factor wears off and all of these launches, that’s when the real business begins. What happens? You know, are they going to be throwing product away because they’re not selling it? Like is it gonna get, is it gonna go bad? Like, like how is that going to affect us two years down the road? What’s going to happen? Right? Or is it going to be the new thing? Is it going to be an adoption where half the sales from burger King comes from fake? I don’t see fake me, but alternative meat alternatives is a 50, 50 now almost. I don’t know.

RT: And will we see it in every restaurant? We sit down and be like, do you want this burger or do you want this burger?

Tyler: You know, like, um, that’s what they’re trying to do. I mean, they’re trying, like we said when we tasted this, they’re trying to go after people like us. Yeah. Not the vegans or vegetarians. They’re going to eat that no money. They’re just there from day one. They already have options. They can go to whole foods and buy, you know, all kinds or something like that. This is a whole another ball game. They won’t after you and me. Yep.

RT: No, that’s so cool. So what was your biggest takeaway in general from diving into these two companies?

Tyler: Well, I mean, we typically say like, what’s a takeaway? We’re going to take back their own businesses, right? So like me going back to rebel, Jane, you go back to boards, they go like, what are you going to take back? For me, it’s the ability to leverage a distribution channels as a marketing tool. You know, like watching beyond me do what they did with all these brands and now it’s like a household name almost crazy. That’s an unbelievable thing that I could do with retail. You know, go into retail all of a sudden rebel Jane’s more of a household name and I’m not having to pay for that advertising. So I think leveraging your distribution channels as marketing channels. Yup. That’s my takeaway.

RT: And to piggyback on that, it’s pretty much the same takeaway from me, but I really liked the store locator features on those websites because that’s something I get all the time is where can I go see your watches in person. And I think I just want to do a better job in both of those and, and try to figure out how I can tell my customer where they can go find my watches. Yeah. And literally use my, I don’t have very many but use my stores as those distribution points. Um, and you know, even add in the events that I’m going to, um, cause I do a lot of events. I think that would be cool if you’d be like, bro, bring up a store locator and say we’re doing a pop up in Austin from this time, this time. Cause then somebody will just put it on their calendar. Yeah. Um, so I, I sh I really should do a better job at that, so that’s fine.

RT: So it’s so cool to see these companies coming out and taking something that was so boring. Right. Alternative needs. Yeah. Veggie burgers right up and making it a multibillion dollar industry. Just two companies. It’s, I mean it’s like the whole reason we started this thing. Absolutely. We found some things that are going to help our brains a hundred percent, hundred percent. Right. Yeah. Um, so that’s kinda it. We’ll kind of wrap it here. And so just to go back on that beer score card, just to talk about that real quick. The winner was beyond me, beyond me. And so that means that we want to find the founder of beyond meat, have a beer with them and to talk more. So if you know that person, let’s make that happen. Hook us up. Yeah. Give away another watch her. Do you give that up? Yeah, I already have it. Jennifer Garner.

Tyler: All right, so subscribe on YouTube. Um, obviously you can find us on Instagram, Facebook products. We’re talking about.com, and if you have a disruptive product, or maybe you already have, when you have an idea, whatever, let us know. Like, you know, we love to talk to founders or even founders, but just ideas because we, this is our thing is this is 100% or thing. It’s literally what gets us going. Yeah. So next time we’ll see you later. Yeah.

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