045: How I Built a $1.2 Billion Vegan Startup

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—Hi Everyone, my name is Chris Koerner and Welcome, to today's episode where we delve into the inspiring journey of Eat Just, the billion-dollar startup founded by Josh Tetrick. In this episode, we will explore the key principles that fueled the company's success and made it a revolutionary force in the food industry. Stay tuned as we uncover the story of purpose-driven innovation, the power of multidisciplinary teamwork, and the importance of resilience and adaptability. Join us as we unravel the essential lessons from Eat Just's remarkable rise, lessons that are not just for entrepreneurs but for anyone striving for success in the world of business. Let's get started.—

—Our story today is about Josh Tetrick and his incredible journey from an Alabama football hopeful to the founder of a billion-dollar startup called Eat Just. Let me break it down for you.—

—Josh grew up in Alabama, dreaming of becoming a professional football player. He had big ambitions, but he soon realized that making it to the NFL was a long shot. So, he decided to redirect his energy towards academics and raised his GPA from 2 point 1 to 4 point oh. He even traveled to places like Liberia, Kenya, Nairobi, and Cape Town while working for a nonprofit.—

—In Cape Town, he stumbled upon a book called "Fortune At The Bottom Of The Pyramid," which opened his eyes to the power of capitalism to bring about positive change. He returned to the United States, enrolled in law school, and started pondering the idea of using business to address pressing issues.—

—It was his childhood friend, Josh Balk, who nudged him towards the food system and the plight of egg-laying hens. They pondered a simple question: "Can a plant scramble like an egg?" And thus began their journey to find a plant-based egg alternative.—

—Josh had 3 grand in savings and was even crashing on his ex-girlfriend Jill's couch. She gave him six months to figure things out, and during that time, he sought early-stage investors. Khosla Ventures believed in the idea and invested half a million dollars, allowing him to move from Jill's couch into a 35 hundred square-foot space previously occupied by a biker bar.—

—Josh understood that creating a plant-based egg would require a diverse team, including food scientists, chefs, biochemists, and engineers. He hired experts from 15 different scientific disciplines, including professionals from Kellogg's, Unilever, Michelin-starred restaurants, and Bay Area biotech startups.—

—However, it took longer and cost more than Josh initially expected to develop a plant-based egg that could scramble. The first success was getting the texture right, even though the taste was still "beany." He estimates they spent around 3 to 4 million to reach that point.—

—The biggest lesson for Josh was that developing something in the lab didn't guarantee success at a commercial scale. It wasn't until late twenty eighteen that they launched Just Egg in U.S. retail. To keep the project going, they secured further investment from firms like Horizons Ventures, Khosla Ventures, Founders Fund, and the Collaborative Fund.—

—Today, Just Egg is available in tens of thousands of stores, including major retailers like Walmart, Costco, and Whole Foods. They've sold approximately 250 million plant-based eggs. The journey wasn't without its challenges, including a restructuring of the board and the pressure to deliver results.—

—In twenty seventeen, the company began exploring cultivated meat, launching Good Meat in Singapore and aiming to start production in the United States in twenty twenty three. They've even received regulatory approval to sell real meat without the need to slaughter animals.—

—Josh's story is a testament to the perseverance required to bring a disruptive idea to life, even when faced with seemingly insurmountable obstacles. He views the challenges as opportunities to grow and move forward, much like in a football game, where you learn to let go of past mistakes and focus on the next play.—


—Let’s now jump in and break down the key principles that made it all happen. We'll explore how these principles can be applied to any business, regardless of its size or industry.—

—Principle 1: Purpose-Driven Innovation—

—One of the cornerstones of success for Josh Tetrick's company, Eat Just, was their unwavering commitment to a purpose-driven innovation. They were on a mission to find a plant-based egg alternative that could revolutionize the food industry.—

—As a business owner, start by identifying a clear and compelling purpose for your company. Whether it's solving a specific problem, making a positive impact on the community, or addressing an environmental concern, having a strong purpose can inspire innovation and motivate your team. Stay true to your mission, even when facing obstacles, as it will guide your business in the right direction.—

—Principle 2: Multidisciplinary Team Building—

—Josh Tetrick recognized that solving a complex problem like creating a plant-based egg required expertise from multiple scientific disciplines, including food science, biochemistry, engineering, and culinary arts. He built a team with a wide range of skills and experiences.—

— In your business, consider the power of a multidisciplinary team. Encourage diversity in terms of skills, backgrounds, and perspectives. A mix of talents can provide fresh ideas, foster creative problem-solving, and help your business adapt to changing circumstances. Don't limit your team to one skill set; seek diversity to drive innovation and growth.—

—Principle 3: Resilience and Adaptability—

—The journey to success for Eat Just was far from smooth. It took longer and cost more than Josh initially expected. However, he remained resilient and adapted to the challenges. This resilience enabled the company to pivot to cultivated meat successfully.—

—Every business faces setbacks and unexpected hurdles. To achieve success, it's crucial to build resilience and embrace adaptability. When things don't go as planned, don't give up; instead, use setbacks as opportunities to learn and grow. Be open to changing course, exploring new strategies, and remaining persistent in the face of adversity.—


—The story of Eat Just, founded by Josh Tetrick, teaches us valuable lessons in business success. By staying true to a purpose-driven mission, assembling a multidisciplinary team, and displaying resilience and adaptability, any business owner can lay the foundation for long-term success. These principles are not limited to the food industry; they can be applied to various business sectors. Remember, success is not just about the destination but the journey and the principles that guide you along the way.—


—Thank you for being part of today's adventure through the world of startups and innovation. Did this episode ignite any fresh perspectives or ideas? Share your reflections and favorite takeaways in a review wherever you’re listening now. Remember to stay curious, continue to forge your own path, and subscribe and follow Startup Gems to be the first to access stories that will fan the flames of your entrepreneurial passion.—