“For every 100 calories of grain we feed animals, we get only about 40 new calories of milk, 22 calories of eggs, 12 of chicken, 10 of pork, or 3 of beef.”[3] In other words, our food preferences have led us to effectively throw away food on a mass scale.
The first sentence may be a correct observation which may be backed up by the citation (I admittedly haven't checked), but the second sentence is incorrect. The food has not gone to waste, it was converted from one form to a (at least for some people) more desirable form.