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Bacon, egg and cheese bagels are core to the New York City experience. But over the last few weeks, bagel eaters around the city have been confronted with some unfortunate news: Signs are plastered across shop counters stating a $1.25 additional surcharge for any bagel sandwiches featuring eggs. But while New York is known for its expensive food and drink, it’s not just NYC facing these soaring egg prices

Egg costs have been rising since 2019, when the average price per dozen was just $1.40. And no one can seem to stop complaining about it—lowering egg prices was even a primary talking point in Trump’s run for the presidency. But since he’s taken office, the rates have taken flight. In January 2025 alone, prices shot up 15%, bringing the average cost per twelve-pack to $4.95

This influx is partly because of inflation, but it’s also thanks to the rapidly spreading bird flu, making it unsafe to consume many eggs, poultry, and even dairy cows currently in production (which was only exacerbated by the recent DOGE-inspired firing of USDA staffers working to curb the issue). 

To battle the increase in costs of traditional eggs, 2020 Under 30 Science alum Arturo Elizondo has hatched a new plan. As the founder of The Every Company, he’s been working on developing egg proteins—all without using any actual eggs—since 2014. While many of his plant-based competitors try to replace items like juicy burgers or crispy bacon with soy-blend patty and tofu strip alternatives, Elizondo makes the proteins found in eggs, seeking to be an ingredient—not the main dish—in products where they go unnoticed: think mayo, baked goods and burger patties. And he has $240 million in funding from venture capital firms like Bloom8 and McWin, and actress Anne Hathaway to back it up. 

“There are massive fluctuations in consistency and in pricing and supply,” Elizondo said of the egg industry, adding that the avian flu, for instance, has significantly impacted the supply and cost of eggs for the last few years. “A lot of our customers don't use [our] product because they want to go vegan, they want to have suitable products…” and prices. 

Every creates proteins (like ovalbumin and ovomucoid) by extracting yeast from black oak trees in California. Then, in the same way that breweries use yeast to convert sugar into alcohol to make beer and wine, Every works with fermentation plants like Anheuser-Busch InBev to ferment the yeast to create the proteins that are found in eggs. Today, Every produces the “Every Egg,” the “Every Egg White” and the “Every Protein,” as replacements for recipes that once required eggs. For instance, the Every EggWhite can be a binding solution for burger patties while the Every Protein boosts levels in protein drinks. 

Using Every proteins, while not necessarily cheaper, does make cost projection more reliable, he said. 

“For a lot of companies, animal ingredients and specifically eggs are the most troublesome ingredient, and they have to use them because they can't make their [products] without them,” Arturo said. “We can now provide a solution that is able to circumvent the supply chain nightmare that is using animal proteins.”

See you next week, 

Alex and Zoya

Alex York Associate Editor, Under 30

Follow me on Forbes.com

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Lister Lowdown
-Harvey, which builds custom AI assistants for law firms, raised a $300 million Series D this month. The round was led by Sequoia Capital with participation from other return investors including Kleiner Perkins, Conviction and OpenAI Startup Fund. The raise valued Harvey—cofounded by 2024 Under 30 Enterprise Technology alum Winston Weinberg—at $2 billion. 

-2024 Under 30 Europe Science company Spore.Bio this week announced it raised a $23 million Series A. Cofounded by Amine Raji, the company says it built the first-of-its-kind technology that uses AI to detect bacteria (like in food) in a matter of minutes instead of days. The latest round, led by European VC firm Singular, comes just a year after Spore’s $8.3 million pre-seed.

ON OUR RADAR
-Forever 21 dominated the 2000s with its trendy (and cheap) clothes. Now the fast fashion retailer is reported to be filing for a second bankruptcy that could shutter some 200 stores and potentially put the rest of its 150 stores up for sale. Sources close to the matter said if there is no buyer, Forever 21—which once had 800 locations worldwide—would be forced to liquidate. Stores are expected to start closing again as soon as next month. (Business of Fashion)

-‘DOGE,’ or the Department of Government Efficiency, led by the now infamous Elon Musk, claims to have saved $55 billion in government spending through slashing government contracts. For example, the biggest contract cut was the "Equal Employment Opportunity" services, which was initially reported to have saved $8 billion. Since then though, that amount has been revised to $8 million. Does this mean DOGE is dropping the ball? (ABC News)

-Europe's ultra strict ‘AI Act’ has a well known opponent—Mark Zuckerberg's Meta. The act, a means to address the risks associated with the technology, has garnered significant backlash, especially from tech houses in Silicon Valley. The AI landscape in Europe has been slower than their rivals the United States and China, and the act will likely lead to furthering the gap. Meta lobbyists believe a US and EU partnership is the way to gain the upper hand against China—the question is if the Trump Administration would be willing. (Financial Times)

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