>>> WELL, WHILE U.S. STEEL STOCK
IS PLUNGING, LET'S TAKE A LOOK
AT ANOTHER SIZZLING STOCK RIGHT
NOW.
THE STOCK MARKET DEBUT FOR
BEYOND MEAT WENT BEYOND.
THE PLANT-BASED MEAT MAKER STOCK
OPENED MIDDAY, MORE THAN
DOUBLED, BRIEFLY HALTED TO
VOLATILITY.
RIGHT NOW THAT STOCK IS ON PACE
TO CLOSE UP 166% TO THE UPSIDE,
$66.57, INCREDIBLE.
THE STOCK WAS PRICED AT $25,
FOLKS.
THE COMPANY BUILDS MEAT DIRECTLY
FROM PLANTS AND YOU PROBABLY
HEARD OF IT BY NOW, THE BEYOND
BURGER.
IT'S THE WORLD'S FIRST 100%
PLANT-BASED BURGER.
BEYOND MEAT IS TARGETING
IRONICALLY THE 1.4 TRILLION
GLOBAL MARKET FOR MEAT.
BEYOND MEAT CO-FOUNDER AND CEO
ETHAN BROWN JOINS US NOW.
GREAT TO HAVE YOU.
CONGRATULATIONS.
WHAT DO YOU MAKE OF YOUR STOCK
MARKET DEBUT?
>> THANK YOU SO MUCH FOR HAVING
ME.
I APPRECIATE IT.
YOU KNOW, IT'S REALLY A
WONDERFUL THING TO SEE.
WE HAVE SEEN THIS IN THE
MARKETPLACE ITSELF WITH
CONSUMERS COMING TO GET OUR
PRODUCT AT SUPERMARKETS, AT FAST
FOOD STORES, ET CETERA.
I THINK THIS IS REPRESENTATIVE
OF THE ENTHUSIASM THAT THE
PUBLIC HAS FOR A SOLUTION HERE.
WE ALL, MOST OF US LOVE MEAT, WE
WANT TO KEEP EATING IT BUT WE
ARE RECOGNIZING THE LEVELS WE
ARE CONSUMING AND THE TYPES OF
MEATS WE ARE CONSUMING, WE WANT
TO DO BETTER SO WE OFFER AN
OPPORTUNITY TO HAVE PEOPLE
CONTINUE TO EAT WHAT THEY LOVE,
BURGERS, SAUSAGE, ET CETERA, IN
A WAY THAT'S BETTER FOR THEIR
BODIES AND THE EARTH.
CHERYL: ONLY ABOUT 5% OF THE
NATION IS TECHNICALLY VEGAN BUT
I KNOW YOU ARE PUTTING YOUR
PRODUCTS, WHICH I FIND
INTERESTING, IN THE MEAT
SECTION, IN PARTICULAR AT
KROGER.
YOUR DATA SHOWED YOU THAT
CONSUMERS WERE ACTUALLY BUYING A
REGULAR PIECE OF MEAT AND BUYING
YOUR PRODUCT AS WELL.
IS THAT THE GROWTH STRATEGY, DO
YOU THINK?
>> THIS IS A REALLY REMARKABLE
SYSTEM WHICH IS IMPORTANT TO
CENTER ON AS YOU THINK ABOUT THE
GROWTH OPPORTUNITY OF OUR
COMPANY.
93% OF THE CONSUMERS OF THE
NATION'S LARGEST CONVENTIONAL
GROCER THAT YOU MENTIONED ARE
ALSO PUTTING ANIMAL PROTEIN IN
THEIR CARTS WHEN THEY BUY A
BEYOND BURGER.
SO MOM OR DAD GO TO THE
SUPERMARKET, BUYING PRODUCTS FOR
THE FAMILY FOR THE WEEK, PUTTING
IN SALMON AND POULTRY BUT ALSO
PUTTING BEYOND IN.
ANOTHER INTERESTING STATISTIC
OUT OF THAT CHAIN IS IN SOUTHERN
CALIFORNIA LAST SUMMER, WE
BECAME THE NUMBER ONE SELLING
PACKAGED BURGER PRODUCT IN THE
MEAT CASE.
SO OUTSELLING 8020 BEEF,
OUTSELLING ANGUS, ET CETERA.
THAT SPEAKS TO THE SIZE OF THE
OPPORTUNITY.
CHERYL: I THINK THAT SPEAKS TO
THE HEALTH CONSCIOUSNESS OF
CALIFORNIANS.
AT THE SAME TIME, NOW THAT WE
WELCOME YOU TO WALL STREET, WE
WILL CHALLENGE YOU WITH WALL
STREET, BECAUSE THEY ARE GOING
TO BE LOOKING FOR PROFIT.
YOU'RE NOT PROFITABLE NOW.
I KNOW THAT YOU HAVE TALKED A
LOT ABOUT HAVING TO REINVEST
BECAUSE YOU HAVE BEEN SUCH A HOT
COMPANY, YOU HAVE GOT TO BUILD
MORE MANUFACTURING FACILITIES,
YOU HAVE TO WORK ON THE
PIPELINE, THE PRODUCT PIPELINE,
GETTING THE SOURCING FOR YOUR
BEYOND BURGER AND THE NEW
PRODUCTS.
ANY TIME FRAME YOU CAN GIVE US
ABOUT WHEN YOU MIGHT TURN A
PROFIT?
>> I'M NOT GOING TO TALK ABOUT
THAT RIGHT NOW BUT THE REASON
THAT WE ARE SO FOCUSED ON
EXPANSION AND GROWTH AND
INNOVATION IS, THIS IS A $1.4
TRILLION INDUSTRY.
AS WE GO AFTER IT, WE WANT TO
MAKE SURE WE ARE PROVIDING
PRODUCTS THAT WIN NOT ONLY ON
TASTE BUT ON NUTRITION AND
ULTIMATELY AS WE GROW, ON PRICE.
THAT'S A LONGER TERM GOAL FOR US
BUT IT'S IMPORTANT TO GET THERE.
SO FOCUSING TOO MUCH, TOO EARLY
ON THE WRONG METRICS I THINK
COULD SLOW OUR GROWTH.
I WANT TO PROVIDE THE MARKET
WITH A VERY LARGE GLOBAL PROTEIN
COMPANY THAT'S CAPABLE OF
SATISFYING CONSUMERS NOT ONLY
HERE IN THE U.S. BUT GLOBALLY.
CHERYL: THAT SPEAKS TO YOUR
WORDS ABOUT INVESTING IN THE
COMPANY.
YOU DO HAVE SOME, YOU KNOW,
COMPETITORS OUT THERE AND TO
YOUR POINT, THE MEAT BUSINESS IS
$1.4 TRILLION GLOBALLY BUT YOU
HAVE IMPOSSIBLE FOODS, THEN YOU
HAVE BIG PLAYERS LIKE TYSON, THE
CHICKEN COMPANY, THEY WANT TO
GET INTO THIS INDUSTRY BECAUSE
THEY SEE THE OPPORTUNITY.
DOES THAT MAKE YOU NERVOUS?
>> NO, IT DOESN'T MAKE ME
NERVOUS.
WHAT WE ARE REALLY FOCUSED ON IS
THIS CONCEPT OF RAPID AND
RELENTLESS INNOVATION.
THAT'S ACTUALLY THE NAME OF OUR
PROGRAM INTERNALLY.
IT'S DESIGNED TO DO ONE THING,
MAKE THE PRODUCTS THAT ARE ON
THE SHELF TODAY, THAT ARE IN
QUICK SERVE RESTAURANTS TODAY
THAT ARE BEYOND MEAT PRODUCTS
OBSOLETE TOMORROW.
WE WANT TO DO THAT BY CONTINUING
TO IMPROVE.
WE WANT TO KEEP CLOSING THE GAP
BETWEEN OUR PRODUCT AND ANIMAL
PROTEIN.
WE ORGANIZED OUR COMPANY IN A
WAY THAT ALLOWS US TO HAVE THE
BEST ENGINEERS, BEST SCIENTISTS,
ALL COME TOGETHER WITH A SINGLE
GOAL OF COLLAPSING THOSE GAPS,
GETTING CLOSER AND CLOSER TO
ANIMAL PROTEIN.
I THINK MORE ABOUT THAT THAN
COMPETITION.
CHERYL: WE ARE LOOKING AT VIDEO
OF YOU AT THE NASDAQ EARLIER,
OPENING UP THE STOCK.
CONGRATULATIONS.
IT REALLY IS A SPECTACULAR DEBUT
FOR A COMPANY.
WE WILL BE LOOKING FORWARD TO