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Fifty minutes into a training session at a gym in lower Manhattan, Im doing burpees and clean-and-jerks while Beyond Meat CEO Ethan Brownall 6 feet, 5 inches of himis bear-crawling into pushups, then slamming a medicine ball to the ground from overhead. I was lured to this TMPL gym off Astor Place because Brown is a lifelong fitness nut, and hed shoehorned this workout in on Monday morning between arriving from L.A. the night before and departing again that afternoon. But Brown also wanted me to experience Beyonds radical new launch, its first product that is not a savory meal option, the way a target customer would: post-workout, desperate for a functional recovery drink. After Browns trainersknown as Coach K and Domput me through multiple rounds of kettlebell squat jumps and casually suggested that I add another 40 clean-and-jerk reps with just the bar to, you know, tighten my form, I was ready to chug anything liquid and cold. The product Brown handed me was from Beyonds new line of drinks, called Immersefor the way he says its ingredients immerse the consumer in the remarkable nutrition of plants. They come in 12-ounce cans that are sold in two protein strengths (10 and 20 grams) and three lightly carbonated flavors: lemon-lime, peach-mango, and orange-clementine. Starting today, they’re available on the Beyond Test Kitchen site for $29.95 for a 12-pack of the lower-protein version and $34.95 for a 12-pack of the higher-protein version, with retail rollout coming soon. Each can delivers seven grams of fiber, plus electrolytes, and a full days worth of vitamin C. The protein comes from yellow peas, though Brown says that Beyond plans to add other plant proteins next, such as fava beans. How Beyond went liquid Immerse represents the second category departure in six months for Beyonda notable pivot for a company that has been battered by changing consumer tastes. Last July, Beyond broke from its 17-year history as a meat-substitute pioneer to relaunch as a complete-protein brand, dropping Meat from its name and introducing Ground, a versatile Swiss Army knife of plant proteins designed to work in any dish, any time. The shift into functional beverages extends that same philosophy: plant proteins liberated from the center of the dinner plate. The idea is to unlock whats in plants and minerals, and get that to consumers in a form theyll use, he explains, instead of trying to represent them as something else. Immerse is the first ready-to-drink product to combine protein, fiber, and electrolytes in such a high formulation, and the company hints these beverages are the opening salvo in a broader line of functional products, saying that some are in the works. [Photo: Beyond] Beyond has been flirting with the beverage category for longer than youd think, ever since Brown tried making a plant-protein water back in the 2010s. But he says the recovery-drink idea was born out of personal need. Brown is obsessive about plant protein, generally consuming it at every meal, and often in between. For years, he drank post-workout protein shakes, and to these he would add a scoop of psyllium husk, for fiber. But the formulation filled him up. I wanted to feel light, Brown says. And the science just wasnt there yet; he recalls jugs of early prototypes he kept under his desk and protein that kept separating. Back then, perfecting a beverage line wasnt mission-critical for Beyond anyway. Worth billions at the time, the company was the darling of Silicon Valley, beloved by Hollywood stars, Wall Street, and seemingly every fast-food chain on the planet. But then alt-meats novelty started to wane, and the pandemic drove up input and distribution costs, making these products feel like more of a splurge to price-conscious shoppers. By 2024, Beyonds market cap had slid to $500 million. Around that time, the recovery-drink concept reemerged. Brown would visit his son at the University of Missouri, where he was playing guard on the schools basketball team, and swing by the locker room, where hed see three separate types of recovery drinks being offered to players: electrolytes for hydration, cherry juice for antioxidants, Core Power-brand shakes for protein. That was . . . a lot of liquid? Brown wondered, Why not one drink that could achieve all three? In Beyonds early attempts, sediment settled at the bottom of cans. The advances that the company made in solubility “were the big thing, Brown explains. Now, you can drink 20 grams of protein and 7 grams of fiber, and it feels like a regular liquid. In the process, Beyond scientists also worked to minimize calories and keep fat at zero. (A comparable 12 ounces of a Core Power chocolate shake contains 22 grams of protein, but has 50% more calories and almost 3 grams of saturated fat, and raises cholesterol rather than lowering it the way soluble fiber does.) It turned out that the sports nutrition space could reward Beyonds scientific strengthsprotein density, nutritional optimizationrather than punishing it. And Browns excitement is now fixating on a nutrient that isnt even protein. It’s a different ingredient in Immerse, a tapioca fiber derived from the cassava plant. It helps lower LDL cholesterol, feeds good gut bacteria, regulates blood sugar response, and triggers satiety hormones including PYY andyou guessed itGLP-1. Brown is doubly excited, because he says research suggests that if eaten together, the combination of this fiber and the psyllium husk he adds to his own protein shakes (and uses in the Beyond Ground products) can synergistically deliver both immediate and long-term improvements to gut and heart health. The FDA says that tapioca fiber may help reduce heart disease risk as part of a low-fat, low-cholesterol diet. Beyond contends the Immerse drinks are therefore great for muscle recovery, gut health, immunity, and people with lactose intolerance. The power of plants Were these drinks great for me? After my workout at TMPL, no magic was going to fix my stiff back, neck, and legs. But as far as the high fiber goesequal to three cups of spinach, or half a can of black beansI was an interesting test case. As a type 1 diabetic, I wear a continuous glucose monitor in my arm that records my blood sugar 24/7. A perfect glucose is 100 milligrams per deciliter of blood, though even non-diabetics routinely swing between 70 and 140 during the day. The night after trying Immerse, mine traced a straight line between 90 and 110. Causation, or coincidence? Its impossible to say with a sample size of one. But the functional properties designed for athletic recovery have established ancillary benefits, like steadying metabolic responses. The new drink lin “also takes us outside of whats become a very political thing, Brown adds, moving past the science to address Beyonds deeper corporate strategy, one that bypasses the culture-war baggage attached to putting protein at the center of the plate. Beyond, along with the company’s top rival, Impossible Foods, and other alt-meat proponents, say the multibillion-dollar beef industry has spent years secretly and not-so-secretly smearing alt-meats as unhealthy, ultra-processed, and too fake. The results have been brutal. Beyonds own sales dropped by nearly 5% in 2024, and then by another projected 14% for 2025. Shares, which peaked above $230 after its 2019 IPO, slid to penny-stock levels before meme traders staged a 1,300% rally in October that evaporated within days. The company has restructured debt and cut staff while working to stabilize its finances. Meanwhile, demand for animal proteins helped JBS and Cargill post record revenue and a 44% profit increase despite the highest-ever beef prices and worst cattle shortage in years. Impossibles CEO Peter McGuinness has even threatened to stick actual beef into the Impossible Burger. Then, days before TMPLs trainers kicked our butts, Health Secretary Robert F. Kennedy Jr. flipped the national food guidelines upside downgoing all-in on red meat and full-fat milk while demoting whole grains, but still advising Americans to, somehow, reduce their intake of saturated fat. The Trump administration immediately described it as the most significant change in federal nutrition guidance in the history of our nation, and commemorated the move by announcing it would sell RFK-autographed food posters for $400 from a government-run website. For years, Beyond has supported work being done by Stanford Medicine researcher Christopher Gardner to evaluate a plant-based diets effects on cardiovascular health. Gardner is of the 20 nutrition experts the federal government has tapped to review evidence for the new dietary recommendations. Last week, Gardner said that the Trump guidelines go against decades and decades of evidence and research. Brown, like many Americans, feels like we are living in Upside-Down World. But hes not deterred from pushing plants. After all, the new pyramid does put peas at the very topeven if theyre shown in a bag labeled frozen. What excites Brown, despite the chaos, is that the past few years have helped him refocus on what plants can do that meat cannot. Much of Beyonds past was invested in making plants emulate meatin ways previous generations would have thought impossible. Now hes highlighting plants distinct nutritional advantages, including their fiber content, something essential to human health that animal products lack. Plants also deliver protein in a lower-calorie format. Immerse packs 20 grams of protein into just 100 calories, a 20% protein-to-calorie ratio. David protein bars swept America last year, hitting $100 million in sales, because they deliver 28 grams of protein for every 150 calories, an 18.7% ratio. Watching Brown power through his final set at TMPLa guy who had five knee surgeries by his 20s and just took the Beyond corporate team on a grueling hike to celebrate the Immerse launchyou see how much thought he has put into obsessing over making his body perform. Its hard not to wonder if the company is catching up to its founder. He jokes that this time, critics looking for ingredients to attack will have to target the water in the cans: Theyll have to say, ‘Theres too much H2O in that water!
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** NEEDS JUSTIN POT BYLINE ** Have you ever opened your favorite music-streaming app and wondered why all your playlists have the same five songs? It can be annoying, even if they happen to be five songs youre really into right now. And, make no mistake, they will be five songs youre really into right now, because thats how many of these services workand its not because everyone else has the same taste in music as you. For instance, any Spotify playlist that says created for in the header is catered to the individual user, based on their listening history. Theres nothing wrong with that, necessarilyit can be nice to know youre going to hear songs you like. But there are downsides. Mostly, this feature makes it hard to discover new music. Maybe you want a little bit of an idea of whats going on in the broader culture. Maybe you love discovering new songs. Music-streaming services have a tendency to stick the same songs into every playlist and radio station, but theres a way to get out of the same ol song rut. This tip originally appeared in the free Cool Tools newsletter from The Intelligence. Get the next issue in your inbox and get ready to discover all sorts of awesome tech treasures! Time to escape the algorithms Ive actually got two Cool Tools to share with you today. Both of these tools will help you escape the music-streaming algorithms so that you can discover and listen to new music. You can start using either of them in an instant. 1 The first tool is called Spoqify, and it creates a clean version of any Spotify playlist or radio station so you can listen to music like an anonymous user. Spotify, without the suggestion-controlling historywhat a novel concept! The easiest way to use Spoqify is through a browser. To get started, simply: Copy the URL for any playlist or radio station on Spotify Change the t in spotify.com to a q Paste that new URL into a browser The service will instantly create a playlist for you containing what Spotify would show you if it had no prior knowledge of your listening habits. You can now listen to the updated playlist and even save it to your library. Though it is a bit of a workaround, you can still use Spoqify if youre on the Spotify app. Granted, its not as simple (youll need to install a tool called Spicetify), but it allows you to listen to Spoqify without ever leaving the service. (Also, is anyone else getting confused with all the Spotify/Spoqify references?!) 2 If you dont use Spotify or you dont want to mess with URLs, you could always check out Playlist Generatortodays second Cool Tool. This separate service lets you search for any song, artist, or album and creates a list of similar songs. It reminds me of Pandora, back in the day. Once you generate your playlist on Playlist Generator, just click on the Transfer buttonand you’ll be taken to their partner site, where you can export your playlist to any number of streaming services. Or, if you want to listen on Spotify, you can connect Playlist Generator with Spotify to save a list directly to your library. Playlist Generator is a little like Pandora back in its heyday. Ive been enjoying both of these services, though I recommend combining tools like these with a good community radio station, if your town has one. Theres nothing like real human DJs for finding new music. Both of the services mentioned here will work in any web browser. Theyre also both completely free. You can use both Spoqify and Playlist Generator without creating accounts, though you can connect your Spotify account to Playlist Generator if you want. Playlist Generator does also collect some information, but the sites privacy policy makes clear that it doesn’t sell or share your personal information in any shady-seeming ways. Treat yourself to all sorts of brain-boosting goodies like this with the free Cool Tools newsletterstarting with an instant introduction to an incredible audio app thatll tune up your days in truly delightful ways.
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Over a long and industrious career, the investor George Soros developed a theory he calls reflexivity. The basic idea is that expectations dont form in a vacuum. They are shaped, in part, by our perceptions of what other people believe. The more widely an idea is accepted, the more likely we are to accept it ourselves and that, in turn, reinforces the collective wisdom. If many believe that, say, the stock market will go up or that AI will create an economic boom, were more likely to believe it too. That belief then drives behavior: investors buy stocks, companies pour money into AI, and the prediction begins to fulfill itself. All of this only adds fuel to the fire. Nobody wants to get left out of a good thing. Soros made a lot of money betting against reflexivity because once the pattern of self-reference and self-reinforcement takes hold, things are bound to overshoot. Expectations drift far beyond underlying realityand eventually snap back. It seems something similar is brewing. As big institutions accumulate unprecedented power, a growing backlash seeks to take power back. The rise and fall of Porters competitive advantage For decades, the dominant view of business strategy was shaped by Michael Porter’s theory of competitive advantage. In essence, he argued that the key to long-term success was to dominate the value chain by maximizing bargaining power over suppliers, customers, new market entrants, and substitute goods. Yet as AnnaLee Saxenian explained in Regional Advantage, around the same time that Porters ideas were gaining traction among CEOs in the establishment industries on the East Coast, a very different way of doing business was gaining steam in Silicon Valley. The firms there saw themselves not as isolated fiefdoms, but as part of a larger ecosystem. The two models are built on very different assumptions. The Porter model saw the world as made up of transactions. Optimize your strategy to create efficiencies, extract the maximum value out of every transaction and you will build a sustainable competitive advantage. The Silicon Valley model, however, saw the world as a web of connections and optimized their strategies to widen and deepen linkages. If you see your business environment as neatly organized into specific industries, everybody is a potential rival. Even your allies need to be viewed with suspicion. So, for example, when a new open source operating system called Linux appeared in the 1990s, Microsoft CEO Steve Ballmer considered it a threat and immediately attacked, calling it a cancer. Yet even as Ballmer went on the attack, the business environment was changing. As the internet made the world more connected, technology companies found that leveraging that connectivity through open source communities was a winning strategy. Microsofts current CEO, Satya Nadella, declared that the company now loves Linux. Ultimately, it recognized that it couldnt continue to shut itself out and compete effectively in a networked world. Preferential attachment, power laws, and network collapse Phil Knight built Nike into exactly the type of business Porter imagined. It created an impressive marketing machine built on partnerships with famous athletes, dominance of retail channels, including its own proprietary outlets, and an optimized supply chain that kept costs to a minimum. The company was a paragon of sustainable competitive advantage. Then, in the early 1990s, writer and activist Jeffrey Ballinger published a series of investigations about Nikes use of sweatshops in Asia. People were shocked by the horrible conditions that workersmany of them childrenwere subjected to. In many cases, factory owners lived outside the countries where the facilities were located and had little contact with employees. As the network scientist Albert-László Barabási and his colleagues discovered, this is exactly the type of asymmetric vulnerability that even the most powerful fall prey to. A firm like Nike becomes dominant because of a phenomenon called preferential attachment, sometimes also called the Matthew effect. Essentially, the rich get richer. What happens is that once a node in a network builds a small advantage over competitors, it is more likely to attract new connections than smaller players. That creates a power-law distribution in which the network is dominated by large hubs that are exponentially larger than their competitors. Yet the sweatshop scandal threatened to reverse that process, making rivals without scandals marginally more attractive to consumers than Nike. That shift, however small at first, could cascade, allowing rivals to strengthen relationships with suppliers and retailers, widening and deepening their corporate networks at Nikes expense. At first, Knight was defiant, but ultimately, even he recognized he needed to give in. As he would later write in his memoir, Shoe Dog, We had to admit. We could do better. Going beyond its own factories, the company established the Fair Labor Association and published a comprehensive report of its own factories. Backlashes, old and new Today, we live in a new era ofbig business dominance. Just seven companies dominate the U.S. stock market. The economist Thomas Philippon and his colleagues have documented how the growing dominance of large firms across increasingly consolidated industries has led to a decrease in competition in the United States. A Federal Reserve report had similar findings. Weve been here before. The Gilded Age in the late 19th century was marked by enormous investment in a breakthrough technology: railroads. Vast fortunes were made and a breed of oligarchs like Vanderbilt, Carnegie, and Rockefeller created industry trusts that allowed them to dominate the United States, both commercially and politically. Yet every revolution inspires its own counterrevolution. The Gilded Age was soon followed by the Progressive Era and the rise of the muckrakers epitomized by Ida Tarbell, Upton Sinclair, and McClures Magazine, who exposed corruption and exploitation on a massive scale and shifted the political winds. New legislation and enforcement tools, such as the Sherman Antitrust Act, led to a leveling of the playing field. Today, we are seeing similar signs. The Australian government has banned social media for children under 17. Frustration with the low-quality content that AI has flooded the internet with led The Economist to name slop as its Word for the Year. Elon Musks effort to bring Silicon Valley management techniques to government with DOGE was a massive failure, which resulted in hundreds of thousands of deaths. Against this backdrop is a growing New Brandeis movement, which seeks to reinvigorate antitrust efforts and restore competitive markets. After gaining traction during the Biden Administration, it has mostly been dormant since, but things can change quickly. Larger risks amid lesser resilience In 2008, when the global financial crisis hit, the world was a relatively stable place. While the U.S. was still engaged in Iraq and Afghanistan, those were fairly low-level conflicts at that point. The U.S. federal deficit was $450 billion and the U.S. national debt was $10 trillion, both less than a third of what they are now. Today, the world is a very different place. Beyond the worsening economic situation, we have the largest conflict in Europe since World War II. Russia, China, and other bad actors are engaged in a massive information war against the West, fueling populist surges and political turmoil in Western nations. The Atlantic Alliance, once a force for stability, is in shambles. Many would argue that, today, we are in a new Gilded Age, in which powerful industrialists, unbeholden to the rule of law, regularly engage in predatory behavior, but their actions are often shielded from view by technology, buried in complexity. When they are called before Congress, the peoples representatives seem lost, unable to meaningfully challenge their power. And much like the Gilded Age was marked by continued cycles of government-sponsored overinvestment and financial panics, today we are likely on a path to an AI bubble that will rival the massive panics we had in 1873 and 1893. Unfortunately, unlike during the 2008 financial crisis, our capacity to manage the fallout will be greatly diminished. Clearly, we are on a path that is taking us into rough waters. As Soros described, once the pattern of self-reference and self-reinforcement has taken hold, systems dont correct gently. They overshootand the eventual snapback is rarely orderly or kind. Correction will not come from markets alone. It will come through backlashpolitical, social, and institutionalwhen those left bearing the costs decide the system no longer serves them.
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