Day 3 Matereality Marathon

CEO signals fade, business model fragments emerge

B. Lorraine Smith
2 min readNov 10, 2022


Video recap is here or read all about it below.

Hey there! Here’s a look at Day #3 of the Matereality Marathon (launched here), exploring global food company Danone’s role in the future we want by applying the Matereality methodology.

I dug into the leadership signals on investor calls, and began to unpick more of the business model. I also signal about what’s ahead — more from the global south, non-humans and a lot of desouping of the slides between now and the end of the week.

Here’s the video version of what is written below — probably easier to watch than read as a lot of this is explaining what’s on the screen.

Learning curve forces quick recap!

Argh. I flicked a switch I didn’t realize I was flicking which means I deleted the automated caption file that YouTube automatically creates, and which I’ve been using as the backbone of the copy for the recap articles from Day #1 and Day #2.

Drat. It doesn’t feel like a good use of energy to write it all up. So — here’s a super short recap and I encourage you to watch the video because there are juicy bits!

  • Day started by attending meetings with stakeholders in the Global South — not for matereality but the timing was ideal to inform this process. You can see the recording of one them here — it was live-streamed from Egypt and I was the zoom moderator from my home office. Great insights to fuel the ideas about decolonizing regenerative agriculture in a global food company!
  • I dug deeper into the investor earnings calls. Let’s just say, Danone’s CEO used to say really profound and detailed things that sounded like a company strategically aiming to work in service of life. And now… that signal has faded. I explain the slide that tells the tale.
  • I pulled out many bits of the business model and related themes. I still have long way to go but I share a few findings especially about (lack of) recycling when we look at…



Meet Meat, Matereality Style

6 min read

Mar 30

Matereality Bites and Other Stories

4 min read

Mar 22

Four guiding principles to assess if a company is serving life

4 min read

Jan 7

“Regenerative” vs Actually Regenerating

9 min read

Nov 28, 2022

Post Matereality Marathon Recap: Who won?

5 min read

Nov 14, 2022

Day 5 Matereality Marathon

2 min read

Nov 12, 2022

Day 4 Matereality Marathon

5 min read

Nov 10, 2022

Day 2 Matereality Marathon

6 min read

Nov 9, 2022

Day 1 Matereality Marathon

4 min read

Nov 6, 2022

Announcing the Matereality Marathon!

5 min read

Nov 5, 2022

B. Lorraine Smith

Recovering ESG "expert"; yarn spinner; distance runner; magical realist. Sensing a path to an economy serving life. also at

Recommended from Medium


See more recommendations