Fox News corrects segments on Biden’s nonexistent plan to limit Americans’ red-meat consumption to 4 pounds per year

biden burgers
President Joe Biden at a campaign stop in Iowa during the 2020 Democratic presidential primary.

  • Fox News issued a correction on Monday over segments about nonexistent red-meat quotas.
  • The segments were part of a broader conservative media trend on Biden taking away Americans’ burgers.
  • The president does not, in fact, have a climate plan that involves capping red-meat consumption.
  • See more stories on Insider’s business page.

President Joe Biden is not coming for your burgers, Fox News anchor John Roberts clarified on Monday.

Last Friday, the network ran several segments based on a University of Michigan study that had nothing to do with the Biden administration.

Fox framed some of its coverage on the study around Biden imposing caps on individual red-meat consumption in an effort to combat the climate crisis, a proposal that the president has never said he supports.

“On Friday, we told you about a study from the University of Michigan to give some perspective on President Biden’s ambitious climate change goals,” Roberts said. “That research, from 2020, found that cutting back how much red meat people eat would have a drastic impact on harmful greenhouse gas emissions. A graphic and a script incorrectly implied that it was part of Biden’s plan for dealing with climate change. That is not the case.”

The Daily Mail lumped in the study with Biden’s climate agenda, kicking off a slew of misleading and false stories from conservative media outlets and subsequent fact checks.

Many of the reactions seized upon a limit of four pounds of red meat per year, which was a figure settled upon in the study for significant reductions in emissions but not something Biden has proposed.

Rep. Lauren Boebert, a Colorado Republican, tweeted a call for Biden to “stay out of my kitchen” in falsely citing a figure of a mandatory 90% reduction in meat reduction across the country.

Some of the banners Fox ran included wording such as “bye-bye burgers under Biden’s climate plan” and “90% of red meat out with Biden climate plan.”

As CNN fact checker Daniel Dale reported, the initial Daily Mail story proved to be the catalyst for Republican lawmakers and conservative media personalities sharing misinformation through the weekend.

Senate Majority Leader Chuck Schumer, a New York Democrat, poked fun at the meaty news cycle ahead of Sunday night’s Oscar awards, alluding to a Larry Kudlow segment on the Fox Business Channel lamenting the prospect of Biden forcing Americans to drink “plant-based beer.”

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The Impossible Burger’s creator could go public at a $10 billion valuation, report says

Impossible Foods
  • Popular plant-based meat maker Impossible Foods is exploring going public at a $10 billion valuation, sources told Reuters.
  • The California-based company is considering a public listing via an IPO or SPAC, Reuters reported.
  • Shares in rival Beyond Meat are trading 400% higher than its IPO price in 2019.
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Impossible Foods, the startup behind wildly popular vegan burgers, is exploring a public listing that could give the company a valuation of $10 billion, Reuters reported on Thursday.

At its last funding round in March 2020, the plant-based meat company was valued at $4 billion.

Impossible is now weighing options between going public via an initial public offering or a merger with a special-purpose acquisition company, Reuters said, citing sources. This could happen within a span of the next 12 months.

Financial advisers have been approached to help manage discussions with SPACs that have already extended offers at a lucrative valuation, sources told Reuters. The SPAC route could diminish the positions of existing shareholders more substantially compared to an IPO.

Impossible Foods was founded by CEO Pat Brown in 2011 when he was on a sabbatical from teaching biochemistry at Stanford University’s medical school. Brown previously told Insider he wished he gained an understanding of the meat industry earlier in his career, so he could’ve launched Impossible Foods sooner.

The company is backed by venture capitalists Khosla Ventures and Horizons Ventures, and more than a dozen superstar investors ranging from pop icon Katy Perry to tennis champion Serena Williams and rapper Jay-Z.

Shares in rival plant-based company Beyond Meat are trading more than 400% higher above its public debut price in 2019.

Several private companies are eager to be acquired by SPACs after a surge in popularity within the space last year. More than $98 billion has been raised across 306 SPAC IPOs so far in 2021, surpassing last year’s record of $83 billion, according to data from SPACInsider.com.

Many of these companies may be unaware of the legal implications of not fully understanding the disclosures they can and can’t make when going public. For this reason, the Securities and Exchange Commission has warned SPAC dealmakers of the risks and governance issues related with raising capital through blank-check firms.

Impossible didn’t immediately respond to Insider’s request for comment.

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