Replay: Plant-based foods need a makeover, with Peter McGuinness
Masters of Scale
WaitWhat
4.6 • 4.4K Ratings
🗓️ 31 December 2024
⏱️ 34 minutes
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Summary
In this special holiday replay, we share another standout conversation from 2024 featuring Impossible Foods’ Peter McGuinness. This year, sustainability initiatives rolled back across industries and meat alternatives struggled more than ever before on sales. McGuinness tells host Bob Safian where plant-based brands made big missteps, and why the industry’s marketing should evolve – potentially away from climate change messaging. McGuinness also shares how Impossible leverages retail partners like Starbucks and Burger King, lessons he learned from scaling oat milk for Chobani, and why Impossible see’s other plant-based players less as competitors and more as collaborative “frenemies.”
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Transcript
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| 0:00.0 | Hey folks, Jeff Berman here, co-host of Masters of Scale. |
| 0:04.0 | Signups have begun for the 2025 Masters of Scale business award applications. |
| 0:08.9 | This is the second annual business awards for Masters of Scale that celebrate organizations |
| 0:13.6 | that embody the qualities and achievement we highlight each week on our show. |
| 0:18.8 | Please do not think you have to be a Fortune 500 company to apply or a decacorn or a unicorn. |
| 0:25.1 | We want to hear your story, regardless of where you are on your journey, and we definitely want |
| 0:30.2 | to celebrate your success. |
| 0:31.8 | Head over to masters of scale.com slash business awards right now to apply. |
| 0:37.8 | Bob Safian here, host of Rapid Response. Today we're spotlighting a special episode recorded live |
| 0:45.0 | at Climate Tech this year in Boston with the CEO of Impossible Foods Peter McGinnis. |
| 0:51.1 | In our conversation, Peter shares wisdom about evolving your brand and admitting |
| 0:55.8 | your mistakes, ideal reflections and motivations as we enter the new year, and all take stock |
| 1:02.2 | of our work, our lives, and everything in between. We hope you enjoy and we'll see you in |
| 1:07.8 | the new year with all new episodes of rapid response each Tuesday and |
| 1:12.1 | Friday starting January 3rd. I strongly believe that we all in plant-based meat have to completely |
| 1:22.0 | overhaul and change how we go to market, how we communicate, and how we product develop. |
| 1:27.8 | We're not going to out advertise and outspend the meat-advertise and out-spend the meat industry. |
| 1:31.1 | We need to out-smart them, and we're better together than we are apart. |
| 1:37.5 | I do speak regularly to many other plant-based CEOs. |
| 1:41.3 | They're not the competition. |
| 1:43.2 | If I steal from the $8 billion pie and don't go after |
| 1:47.5 | the $1.4 trillion pie, we've an advanced value of the company for our shareholders, and we sure |
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