How I Built A $1.2 Billion Vegan Start-Up Called Eat Just | Founder Effect
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- Опубліковано 17 чер 2022
- Josh Tetrick, co-founder and CEO of Eat Just, Inc., thought if we can make plant based milks, cheeses and butters, surely someone developed an egg alternative. It sounds simple. Apparently it's anything but.
There are three numbers to look out for in this story. $3,000, the amount he had in his savings when he launched his start-up; $500,000, his first outside investment; and $800 million, the total amount the company has raised so far. Here’s how Josh Tetrick went from crashing on his ex-girlfriend's couch to sitting atop a $1.2 billion start-up called Eat Just.
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How I Built A $1.2 Billion Vegan Start-Up Called Eat Just | Founder Effect
Raising funds for an idea is not just difficult, but by raising millions you got to be connected, I feel like there is a back story he is not sharing.
Right. The story mentions it like, just go ask for it and you'll get it.
Yes
No Josh doesn't have any connection at the time. All he had to do was tell his early investors that "You can go to Las Vegas and lose millions like a loser. Or you can bet your money on me. At least you got some balls doing the latter."
Exactly; a simple pitch about a totally hypothetical, unproven concept doesn’t lead any investor to entrust you with half a million $’s - but however he did it, it got done and he worked it out.
It was the other way around. Investors found him.
This is hands down the best CNBC Make It that I've watched so far.
This guy improved his GPA frm 2.1 to 4.0. My G.O.D
“Don’t sleep on Good Meat”! I believe it! Amazing job Josh!!!!!
Congrats to Josh and the whole team over there! I worked there in 2016 (company was called Hampton Creek back then) but glad it is continuing to thrive and grow. Wishing the brand much success.
So he is the inventor of that product. Wow. I'm vegan since 1990 and while I'm so grateful for new alternatives to the "real thing," I'll stick to my tofu veggie scramble, haha. But hey- one thousand congratulations to him! I own a small vegan shop here in my country and his product always flies off the shelf!
Tofu is poison!
@@maddog3768 Well then you're getting poisoned as well and you know why? Because 90% of all NON ORGANIC soybeans are given to livestock. NINETY PERCENT. I only eat organic, non gmo tofu and I'm healthy as a mare. It'll be 32 years this October of eating this way and wouldn't change it for the world. Have a good one, Maddog!
I eat both the liquid Just Egg and the folded patties... I prefer the latter because they can be frozen and I can make them quickly. They taste amazing to me... and smell like real eggs!
I'm vegan now and wanna start a shop too. I'd like to know more from you as you're already experienced
@@sushantbhorge2703 I'm in Mexico, though! It's much cheaper here to own one. Congratulations on your choice to go vegan!
I think he rediscovered chilla 😅
Chilla or Cheela is nothing but an Indian style pancake. Traditionally, these are popular in North India where both sweet and salty variants are available.
Oh, this is nothing like a cheela. Just Egg is incredibly egg like. Cheelas not so much.
Don't understand how he easily got investments along the way without having a recipe or product
Huge amounts even
You must have no idea how VC works
@@gidd explain; it’s not easy to get an investment as it seems from all the videos and founder stories. You have to have something, or solid background, or something
@@mika_chu I know
Im an aspiring founder myself and alot of my circle are tech founders. I know how difficult the pitching process is
I hundred % agree. No expertise, no technology, no proven record...and they just gave him money. Most of use would be laughed out the office.
Very inspirational story!! Totally agree that companies and corporations have the ability to do a lot of good, and help those in need.
My takeaway from this is that if you have capital you can do some really great things by outsourcing. Unless you can raise funds this isn't really viable, but if you already have capital from another business, you could definitely launch something like this.
The only product they made that I LOVED was Just Mayo, which has been impossible to find for the past few years.
inspirational story
Eating it now lol
It is so sorry that this product has not taken off in South Africa yet.
I havent found one place in Gauteng, one of our provinces to buy Just Egg.
Well congrats to Josh for taking a chance on Just Egg
He has made a great name for himself.
Lab meat ..... wont ever eat it as a vegan
I knew it had some Indian connection. Mung bean is served as a moonglet in india for decades. Not in a scrambled way but idea is the same. Fresh lentils are grounded and turned into a pancake
Not everything is connected to India, wake up
@@divine7223 he only connected mungbean to India. Not Everything
@@divine7223 He is correct. Mung beans are a staple in India and this cannot be a coincidence. Even the book author C.K. Prahalad (Bottom of Pyramid) he mentioned in this video is Indian. So, some inspiration might be there definitely
The future is vegan 💚
I'm definitely going to buy this product
Love it! insane work ethic
Please come to the UK. We need more vegan business here. We also need affordable vegan foods in the home.
There's no such thing as affordable vegan food it's so sad a beyond burger made by vegetables Is like 4 dollars a patty but I can get a cheeseburger for 1 dollar or less governments need to stop subsidizing meat and start subsidizing plant based foods
@@ryanharvey9800 beyond burgers where I live have gone down to 2 dollars a burger
@@ryanharvey9800 Actually there is. All of the supermarkets in the UK have their vegan range. You can now get Oat Milk (same ingredients and oat content as Oatley) for £0.89 and all of the Top 4 have appetising vegan range.
Capitalism is THE single greatest cause for positive change in the world historically.
I love just eggs. Great alternative to eggs
I have 2 eggs for you!
How eggs does it taste like ? Would you say 60%
This was a good video more about how to raise capital and attract backers than the actual end product or the enterprise built. He really said he had raised $700-800m from investors. Wow.
is it just me or does this guy look like Christopher Reeve?! Can we get another Superman movie with him staring in it?
What even was that transition to the meat part at the end? I didn’t understand what happened why he had to get rid of his board. This video was weird.
Omg I know Vinod Khosla and samir!!!
He's so right when he is talking about you could come up with something in the lab, but that doesn't mean you can scale it. Running a business is a whole different ball game than creating something.
What's the revenues...
The price of these products are insane lol... most of the time they are liquated (at walmart from what I've seen)
Did somebody say just eattttttt? 🎵
Props to him but that’s some nasty stuff. Making things to be like the real thing makes me confused when the real thing is healthy.
Thanks for bringing this content mainstream. Just Mayo is a great alternative to traditional mayo. While it is no longer carried in our grocery store we were loyal to it after Hellmann’s lawsuit regarding the use of the word mayo. Looking forward to continuing to support the business!
I think just mayo had a product in it that pertained to animal product if I’m not mistaken. I used it and loved it!
What happened to Just Mayo?
I find it very unfortunate that Wiesenhof (part of the PHW Group) one of the largest German manufacturers of poultry products, has secured the rights for the distribution of Just Egg for all of Europe...in my opinion, this is not in line with the philosophy of the company and although I am very happy about the product, I will not consume it for this very reason, as I do not want to support such companies as Wiesenhof.
But if you think about it, maybe if this line does well for them, they will do less of their traditional poultry practice. Either way, the companies want to make a profit so if this can replace their traditional lines, they will do less of the stuff you don't like?
I know they also have a deal with Italian egg company Eurovo, the biggest in Europe, to secure distribution for the product. As bad as I can feel about part of the money buying JustEgg in Europe is going to an egg producing company, for a product replacing the consumption of eggs this is an incredible opportunity, since it will be immediately in all supermarkets where Europvo or Wiesenhof have deals, and it will be hopefully placed next to eggs and not in the vegan aisle, reaching an inconceivable number of consumers otherwise. And hopefully, it will push these companies to invest more and more in the plant-based sector in the future!
Get a grip.
But as you can see, Wiesenhof is making a change. You are now a small part of why change will be slow.
@@vanessaland5090 Or they bought the rights and won’t sell the product at all so people don’t switch from their meat alternatives
For SLT
7:28 ~ 8:27
Wait, did he say, “I fired the entire board and then was the only one left - as both CEO and board member…”
I think Josh Tetrick is the new Elon Musk of the food tech revolution.
Endurance & Evolution are screaming throughout this coming-of-age story! Kudos to rejecting the voice of giving up, which HAD to be ever present...
Interesting. I am working on a online platform for people to meet people to dine with
His Just Egg product is top of the line. It tastes like eggs. It blows people's minds.
So interesting! This is one of my favorite products and so nice to not cause additional harm to animals.
You're causing tremendous harm to the environment by using their plastic bottle
4:2p shout out to the girlfriend
How condescending the person was to mention the guys southern accent which nothing is wrong with it...The other guy shouldve checked his haircut
Yeah I didn’t notice any accent
🔥🔥🔥👍….
For the small price of 27.50 you can have 2 JUST egg burritos lol this guy isn't helping any hens with the insane price he charges for scrambled mung beans
The bottles go for around 7.50 and contain 8 servings (more like four in my household) and the folded eggs are about $1.25 each. Considering what eggs cost at the store (not to mention what the production of them cost the environment, etc.), it's a good deal. I'm not a vegan or even a vegetarian, but I love the concept and the taste is amazing!
he's totally right about capitalism vs non-profit. capitalism has done far more good for the world than any charity or non-profit could ever dream of doing!
No. The Red Cross, Oxfam, The Salvation Army and many others have helped millions when capitalism failed. Capitalism does nothing for Ukranian refugees.
You can say that again!!
in many ways that's true because a capitalist business is out of business if it doesn't gather capital while a non-profit is out of business by default and it doesn't care too much to stay 'in business'
He kinda looks like Channing Tatum
What happened to Just Mayo??
4:34 dude/gal touching all on the eggs with no gloves
😮
2.1 is decent
Please upgrade your microphone 🎤 🙏
😎💪
Without mention the word Vegan in the video.
Expert William is good
They didn't menion JUST mayo.
The same people he sells this product to scream about capitalism....lol
*subsidise
I will never buy and eat those synthetic chemicals! Not really transparent on so many processing aspects. All they are doing is capitalize on the amount or networth whatsoever. you gotta do better
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Is this dog food?
this isnt really new....look up poodla...indians been doing this for decades
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they dont show the amount of deslikes even with some google extensions....wondering why kkkk
Long live capitalism!
Almost felt that things around him manifested to support him so he could make the world a better, more compassionate place! These days its so hard to get investment without a proof of concept but he had a belief, had the tenacity and it was a noble cause so the higher powers just amde it happen :) We love Just Eggs and the formula has improved so much in the last few months. So many hens saved from torture
i dont want this egg... too much modification
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It's crap though
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@Alisha Gomez She is always active on what-app APK
私は非常に満足してい
る👉┼𝟏𝟖𝟎𝟓𝟕𝟏𝟖𝟓𝟓𝟖𝟏👈私は非常に満足している
This guy is totally full of it. His board resigned because of his malfeasance through fake interactions with customers and mislabeling products, and contamination.
Do you have an article that talks about that? I’m not saying your wrong I’m just tryna find out more info
@@TheOfficialThatmanJT yeah, Google "eat just founder fraud" and you'll get a whole host of articles describing this guy's questionable business practices. Forbes, guardian, Bloomberg etc.
But why eat some soybean trash, if normal eggs are most vitamin condensed foods in the world ?
Thanks to JUST & Beyond, I appreciate real eggs & real beef so much more.
D
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As a child, occasionally I used to make fake food for my action figures (not dolls!) but even they had the sense not to consume any of it. The science, which supports 100% PB diets, is complete BS.
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Stop calling it eggs. They are plants, not eggs.
Eggplant
Regular eggs are healthier.
That's a very white washed story of this guy.
3 TO 4 million
This is another safe and effective scam