Get the latest tech news
Even after $1.6B in VC money, the lab-grown meat industry is facing ‘massive’ issues
Any goal that puts cultivated meat in big box grocery stores or on fast food menus in the 2020s is “unrealistic,” according to experts.
For instance, New Age Eats shut down in early 2023, with founder Brian Spears posting on LinkedIn that the company was unable to secure funds to complete its pilot facility. The problem is that (other than all things AI), VCs are currently avoiding funding tech that has enormous upfront capital costs, doesn’t currently produce much (if any) revenue (let alone profits), and may never prove to be viable businesses. A day after Meta CEO Mark Zuckerberg talked about his newest social media experiment Threads reaching “almost” 200 million users on the company’s Q2 2024 earnings call, the platform has…
Or read this on TechCrunch
