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Why are Bill Gates and Richard Branson investing in meat that costs $18,000 a pound?
Sep 6, 2017
(Express) - The world loves meat. So much so that demand for meat products is projected to grow by nearly 70 percent by 2050. But meat production places a significant strain on the planet's resources. Research shows that today's meat-producing efforts use one-third of the Earth's fresh water and land surface, and generate nearly one-fifth of all greenhouse gas emissions.
But that's not going to stop most of us from eating it because it's too darn delicious. The founders behind San Francisco-based Memphis Meats know this, and they're responding with what could be a disruptive change to the trillion-dollar meat production industry. Memphis Meats is making "clean meat." It's also delicious. But there's one problem: It costs about $18,000 a pound.
Well, that's what it costs right now. The hope is that it'll cost a lot less in the future. To get the price down to a more palatable level for consumers, the company just raised $17 million (to add to a previous $5 million invested) from the likes of Bill Gates, Richard Branson, and other tech and venture superstars, including food industry giants like Cargill. All of them are super-jazzed by the idea of clean meat.
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