{"id":111818,"date":"2026-05-13T12:51:12","date_gmt":"2026-05-13T12:51:12","guid":{"rendered":"https:\/\/www.europesays.com\/iran\/111818\/"},"modified":"2026-05-13T12:51:12","modified_gmt":"2026-05-13T12:51:12","slug":"forbes-daily-a-bruising-inflation-report-as-iran-war-drives-up-prices","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/iran\/111818\/","title":{"rendered":"Forbes Daily: A Bruising Inflation Report As Iran War Drives Up Prices"},"content":{"rendered":"

Startup Forus is betting that AI can handle the unglamorous admin side<\/a> of getting prescriptions filled. That mission landed it a $1 billion valuation.<\/p>\n

With prescription drug spending expected to exceed $1 trillion this year, there\u2019s a massive opportunity\u2014almost one third of Americans never fill the prescriptions that their doctors order.<\/p>\n

\u201cThe most common experience patients have is getting a prescription,\u201d says Kareem Zaki, a partner at Thrive Capital which invested in Forus. \u201cBut despite how common it is, it is prohibitory for patients to get the medications they think they need.\u201d<\/p>\n

This is a published version of the Forbes Daily newsletter, you can sign-up to get Forbes Daily in your inbox here<\/a>. <\/a>First UpFDA Commissioner Dr. Marty Makary resigned<\/a> after butting heads with Republicans over his resistance to limiting the abortion pill, mifepristone.OpenAI cofounder and CEO Sam Altman testified that he has $2 billion worth<\/a> of personal stakes in companies that conduct business with the ChatGPT maker, as he faces scrutiny over potential conflicts<\/a> of interest.President Donald Trump said Nvidia chief Jensen Huang is flying with him to China<\/a>, along with other high-profile American CEOs, refuting earlier reports that Huang had not been invited.Deep Dive<\/p>\n

The war in Iran spiked inflation again in April, and consumers are losing purchasing power.<\/p>\n

Consumer prices increased 3.8%<\/a> year-over-year, the fastest annual growth rate in nearly three years. The energy index, which tracks the price of fuel and utilities, drove more than 40% of all price increases. At the same time, workers\u2019 earnings are eroding, with wage growth increasing at a slower pace than inflation for the first time since 2023.<\/p>\n

Expect things to get worse before they get better, Jennifer Timmerman, senior investment strategy analyst at the Wells Fargo Investment Institute, explained in emailed responses to Forbes Daily.<\/p>\n

\u201cPrice pressures in the CPI will get worse for consumers, at least through the summer, before (hopefully) the war ends and they can begin to unwind,\u201d she wrote.<\/p>\n

In a K-shaped economy where lower-income consumers are pulling back, the conflict has driven up the cost of essentials like groceries as it disrupts transportation<\/a>. But it\u2019s also hitting the wallets of the higher-income consumers fueling spending, with airfares surging 21% over the last year.<\/p>\n

\u201cLower-income-household spending is especially at risk due to the high cost of essentials and due to little buffer from a historically low savings rate,\u201d Timmerman says, though she notes strength in the stock market should cushion spending from higher-income households.<\/p>\n

Hours after the inflation data was released, President Donald Trump said<\/a> he doesn\u2019t \u201cthink about Americans\u2019 financial situations\u201d when negotiating with Iran.<\/p>\n

Tech + Innovation<\/p>\n

In the crowded race to produce drone boats, Havoc claims to have a unique edge to help it compete against defense giants like Anduril and Saronic\u2014it doesn\u2019t make its own vessels, but instead buys and then outfits them with its software. They also recently closed<\/a> a $100 million Series A round. \u201cWe are truly the only maritime company that\u2019s software focused,\u201d says CEO Paul Lwin.<\/p>\n

Cyber startup Depthfirst says its AI has identified major flaws<\/a> in critical internet code that could affect the majority of people using the web today. The company claims it has identified even more bugs than Anthropic\u2019s comparable AI model Mythos, for just a tenth of the cost, because Depthfirst models are purpose-built for one task.<\/p>\n

With AI data centers running into limitations on Earth, tech leaders are shooting for the stars: Google is discussing a potential rocket-launch deal<\/a> with SpaceX, the Wall Street Journal reported. Elon Musk has argued that putting data centers in space would be more cost-effective, while Google CEO Sundar Pichai said last year that building orbital data centers could become a new normal in a \u201cdecade or so.\u201d<\/p>\n

Money + Politics<\/p>\n

As the Trump administration starts handing out tariff refunds, a group of Democratic state treasurers, controllers and auditors are pushing for greater transparency<\/a> in the process. The state leaders sent a letter to President Donald Trump expressing concern that the process \u201cdoes not now nor will adequately reflect the actual distribution of costs,\u201d since it doesn\u2019t account for the added costs passed on to consumers.<\/p>\n

DAILY COVER STORYThis Family Made An $18 Billion Fortune Selling Fast Drying Concrete<\/a><\/p>\n

For decades, DIYers and construction pros have picked up yellow and red bags of Quikrete concrete mix from the shelves of America\u2019s big box stores like Home Depot and used it for everything from anchoring mailboxes to patching driveways and making outdoor benches and steps. That in turn has generated billions of dollars for the little-known company and the little-known family behind the brand. <\/p>\n

But their time in the shadows may have come to an end. In February 2025, the privately-held building materials firm made a big splash when it paid $11.5 billion to acquire publicly traded competitor Summit Materials. The deal, which Forbes estimates boosted Quikrete\u2019s revenue by around 50% to an estimated $12 billion, helped propel the Atlanta-based company onto Forbes\u2019 first-ever ranking of America\u2019s Largest Family Businesses at No. 43. Based on Forbes\u2019 estimates, Quikrete is the 17th most valuable privately-held family business in America, making its founding Winchester family one of the country\u2019s richest clans, worth an estimated $18 billion, thanks to their estimated 100% ownership of Quikrete.<\/p>\n

\u201cWe\u2019re proud of our heritage as an American, family-run company that has helped revolutionize the building and home improvement industries,\u201d said Quikrete\u2019s former CEO Jim Winchester in a press release celebrating the company\u2019s 75th anniversary in 2015. <\/p>\n

That marked a rare public statement for the ultra-private Winchesters, who have managed to keep a low-profile despite building and owning a company that Forbes estimates is now more valuable than bigger-name family businesses like Nordstrom, Wawa and Kohler. <\/p>\n

A representative for Quikrete and the Winchesters declined multiple requests for interviews and to comment for this story, telling Forbes that the family did not wish to be profiled for privacy reasons.<\/p>\n

WHY IT MATTERS \u201cAs America approaches its 250th birthday later this year, Forbes just released its inaugural list of America\u2019s top family businesses, celebrating the companies that provide the foundation for much of the nation\u2019s economy,\u201d says Forbes deputy editor Matt Durot. \u201cMany of the companies and families on this list are big names, but others like Quikrete and the Winchesters will likely be less familiar to readers.\u201d<\/p>\n

MORE America\u2019s Largest Family Businesses: Walmart, Wegmans, Wawa And 97 More<\/a><\/p>\n

FACTS + COMMENTS<\/p>\n

The Iran war\u2019s cost has soared<\/a> by billions since the Pentagon\u2019s last public estimate less than two weeks ago, though the true economic cost of the war is likely even higher: <\/p>\n

$29 billion: The war\u2019s cost thus far, Defense Department Comptroller Jay Hurst told Congress on Tuesday, a $4 billion increase from the end of April<\/p>\n

$200 billion: How much the Pentagon requested from Congress in March to fund the war<\/p>\n

Hundreds of billions to trillions: How much the conflict could cost the U.S. economy, University of Michigan professor Justin Wolfers recently wrote in The New York Times<\/p>\n

STRATEGY + SUCCESS<\/p>\n

Before your job interview is even scheduled, it is becoming more common for HR leaders to Google candidates and screen their social media profiles. Employers are looking for alignment<\/a> with your resume, so be sure to Google yourself every now and then. Using LinkedIn is a great way to start building that professional brand online, from updating your profile to engaging with posts about your industry.<\/p>\n

QUIZ<\/p>\n

The closure of the Strait of Hormuz has sparked shortages of products worldwide. A lack of aluminum has led to a scarcity of which soda in India?<\/p>\n

A. Dr. Pepper<\/p>\n

B. Diet Coke<\/p>\n

C. Diet Pepsi<\/p>\n

D. Sprite<\/p>\n

Check your answer.<\/a><\/p>\n

Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.<\/p>\n","protected":false},"excerpt":{"rendered":"Startup Forus is betting that AI can handle the unglamorous admin side of getting prescriptions filled. That mission…\n","protected":false},"author":2,"featured_media":111819,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[10279,6429,38619,34,38621,5355,19730,36783,38620,22738,4092],"class_list":{"0":"post-111818","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-iran","8":"tag-ai","9":"tag-data-centers","10":"tag-forbes-daily","11":"tag-iran","12":"tag-jensen-huang","13":"tag-newsletter","14":"tag-nvidia","15":"tag-openai","16":"tag-refunds","17":"tag-sam-altman","18":"tag-tariff"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@iran\/116567361802928798","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/111818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/comments?post=111818"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/posts\/111818\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media\/111819"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/media?parent=111818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/categories?post=111818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/iran\/wp-json\/wp\/v2\/tags?post=111818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}