Food companies urged to go tech to avoid future disruptions
An investment banker says food companies need to go tech to avoid future disruptions like the one brought by COVID-19.
Paul Cuatracasas says alternative meats have huge potential, including lab-based meats, “If it costs less, tastes great and it’s clean and there’s no risk of being infected and it’s not harming animals, it’s not harming the environment then for the consumer it won’t take long for them to say ‘great, bring it on,’ in the same way they said I’d rather not use a horse and cart, I’d rather use this automobile.”
Cuatracasas also suggests Tyson Foods should not have split with Beyond Meat then saying it would put forth its own plant-based meat products, “Tyson believes it has its own alternative protein products, well, where are they? Where are they? And, how good are they? And, by the way, why is it taking them so long to accelerate in the way Beyond Meat is growing phenomenally fast as is Impossible Foods.”
Cuatracasas is the author of “Go Tech or Go Extinct: How Acquiring Tech Disruptors is the Key to Survival and Growth for Established Companies” and is the founder and CEO of Aquaa Partners.