A very insightful article here from AgFunderNews.com.

"In food and ag, incumbent companies hold the keys. They own the distribution channels, the regulatory muscle, and the customer relationships. If you want to scale, you have to go through them. Inside that reality, most corporations are behaving exactly as their incentives tell them to: protect the core business, avoid surprises, outsource risk. "

"We behave as if our current model of the world – synthetic chemistry, commodity exports, abundant fossil energy, relatively stable trading systems – will hold, perhaps with some ESG tweaks around the edges. When black swans ......., show up. We respond by trimming risk, not by upgrading the system’s ability to adapt."

"Militaries invest in redundant systems, simulation, intelligence, and scenario planning so they can absorb surprises and come out smarter on the other side. Volatility is treated as a reason to add capabilities, not cut them."