Caracal Global Daily
February 20, 2026
Sundance, UT
Here's what a Chief Geopolitical Officer should be monitoring today.
Hiatus alert: Caracal Global Daily will be off next week. Marc will attend and curate Brigadoon @ Sundance Mountain Resort 2026. Back Monday, March 2.
*** Three issues Caracal Global is watching today ***
#1 Trump gives Iran 10-15 days — strike window opens this weekend: Two aircraft carriers, fighter jets, and refueling assets are in position; military capability exists now, with or without a diplomatic breakthrough.
Why this matters: Energy teams model Strait of Hormuz disruption scenarios against Q2 supply and pricing immediately; Middle East ops activate contingency protocols.
#2 Former Prince Andrew arrested — Epstein exposure reaches the monarchy: Britain faces its worst constitutional crisis in a century; the arrest signals the Epstein network exposure wave is accelerating across Western elite institutions, not slowing.
Why this matters: Board vetting and government relations teams audit executive exposure to Epstein-linked networks; UK-heavy companies assess reputational and operational risk from institutional instability.
#3 Trump mulls North American trade pact without Canada — USMCA unraveling: Excluding Canada would reshape North American supply chains and bilateral investment calculus across every sector with cross-border operations.
Why this matters: Companies with Canadian exposure are now running USMCA exit scenarios; legal teams are assessing contract exposure under a potential bilateral US-Mexico framework.
*** Ross Rant ***
No Ross Rant today. Go watch The American Revolution by Ken Burns.
Here's the trailer.
*** Globalization + Statecraft ***
Trump gives Iran 10-15 days to make a deal or 'bad things will happen': This is the highest-stakes geopolitical moment of 2026 so far. Trump is not bluffing on military posture — the hardware is in place for either a sustained campaign or a limited initial strike designed to drive Tehran to the table. The operational constraint: Saudi Arabia and the UAE won't grant US aircraft access to their airspace, forcing warplanes to base farther away in Jordan and rely more on aerial refueling. That's a complication, not a dealbreaker.
+ Steve Witkoff and Jared Kushner met indirectly with Iran's top diplomat in Geneva on Tuesday. Iran's atomic energy chief says no country can deprive the Islamic Republic of its enrichment rights. The clock is running.
Trump weighs limited initial strike to force Iran into nuclear deal: A limited early strike as leverage — not destruction — mirrors how Trump has deployed tariff escalation: signal, escalate incrementally, extract a deal. For energy executives: this is not an abstract scenario. Strait of Hormuz disruption can spike global oil prices within hours of a strike order.
The White House is too sure about Iran and oil prices: Javier Blas in Bloomberg writes the administration is misreading Tehran's risk tolerance by assuming the energy market will absorb another strike as cleanly as last year's. Energy Secretary Chris Wright credits 'energy dominance' for preventing a 2025 price spike after US strikes on Iran's nuclear facilities. That assumption carries serious risk — Iran could target regional energy infrastructure this time.
+ CEOs should not use 2025 price stability as their baseline for 2026 Iran scenarios. Model the tail risk.
As peace talks stall, Russia and Ukraine share one aim: Keep Trump happy. The peace process is no longer about terms — it's about managing Trump's attention span. Both sides are performing for an audience of one. Watch for Trump to make a unilateral move before the midterm politics crowd out his foreign policy window.
Trump is bringing Russia in from the cold: This is the clearest signal yet that sanctions relief is on the table as part of a broader Russia reset. Companies that exited Russia should be quietly modeling re-entry scenarios. Not because it's imminent — but because it's no longer unthinkable.
Starlink loss is a blow to Russian forces in Ukraine: Private commercial satellite infrastructure is now a strategic weapon in great power conflict. Watch how governments — US, European, and others — move to establish legal frameworks for commandeering or restricting private space assets in future conflicts.
+ CIA considered backing a Ukraine plot to blow up Nord Stream, per The Times. Der Spiegel reports that CIA officers were approached in spring 2022. The story's resurfacing is a signal — watch how it affects US-Germany relations.
Former Prince Andrew arrested on suspicion of misconduct in public office: This is not a royal scandal — it's a systemic elite exposure event. The release of Epstein's email archive is forcing accountability across networks that have operated in the shadows for decades. King Charles said, 'The law must take its course.' Misconduct in public office carries a potential life sentence; legal hurdles are high, but the institutional damage is already done.
+ The arrest breaks a 379-year streak — no senior royal has faced criminal custody since the English Civil War era. The Economist reports republicans think their moment has come.
Bill Gates withdraws from India's AI Impact Summit amid Epstein scrutiny: The pattern is accelerating: Epstein exposure is now reshaping elite business and tech participation in major public events. Board vetting standards are tightening in real time. This is not a one-week story.
Trump's Board of Peace opens with a $10 billion pledge and few details: Trump is building an alternative to the United Nations in real time, with a Gulf capital as its foundation. For multinationals: Gaza reconstruction is a real capital deployment opportunity over a multi-year horizon, but governance remains opaque. Watch which private-sector players align early to gain a positioning advantage.
Trump mulls a North American trade pact without Canada: This is the most significant threat to North American trade architecture since the renegotiation of NAFTA. Canada without USMCA loses its most important trade lever. For manufacturers with cross-border operations, this is a scenario-planning emergency, not a background risk.
America imported a record amount last year despite sweeping tariff changes: Tariffs have redirected the trade deficit, not reduced it. The policy is failing on its stated terms. What this means: pressure for further escalation is building as the White House confronts inconvenient data — and the next response may be suppression, not adjustment.
Trump administration attacks Fed research on tariff costs: This is not an intellectual disagreement — it's a signal that the administration will suppress inconvenient economic data. CFOs should treat official tariff optimism as politically motivated and build independent models. The finding — that taxing imports raises their cost — is not partisan analysis.
+ FT reports midsize companies are facing soaring duty bills as Trump seeks to quell policy backlash. The tariff cost is real and asymmetric: large firms can absorb it; mid-market firms cannot.
The Donroe Doctrine's year of failure: Rahm Emanuel writes that far from securing a US sphere of influence in Latin America, the White House has pushed major regional economies toward the EU. The Mercosur-EU trade deal is signed. US transactionalism is producing the opposite of its intended effect in the Western Hemisphere. Watch how Europe leverages the deal as a counterweight to US pressure.
Trump's strategic incoherence in the Indian Ocean: John Bolton writes that Diego Garcia has served as a launch platform for every major Middle Eastern conflict over the past 30 years. Biden officials urged Britain to cede the Chagos Islands — home to this critical base — to Mauritius, a nation China is actively courting. Watch whether Trump reverses the deal or lets inertia carry it through.
North Korea opens key party congress: Timing matters: with Iran consuming US strategic attention, Pyongyang's nuclear agenda advances with minimal Washington focus. Watch the congress for signals on weapons posture and formal announcements of alignment with Moscow or Beijing.
*** US Politics + Elections ***
Trump administration recruits tech bosses to train 'elite' government coders: This is DOGE's strategic successor — not dismantling government, but rebuilding it with Silicon Valley architecture. The Tech Force programme has partnered with Apple, Coinbase, Meta, Microsoft, Nvidia, OpenAI, xAI, and Palantir. Watch how this reshapes federal procurement, data access, and the competitive landscape for companies that rely on government contracting.
Trump's White House ballroom approved: Multiple outlets: America's Commission of Fine Arts — entirely Trump appointees — unanimously approved his plan to build a 90,000 square foot ballroom where the East Wing stood. Soft power signal: the Trump administration is literally reshaping the architecture of American political legitimacy. Watch how foreign governments read the physical transformation of the White House as a signal about the permanence of Trump-era institutional changes.
Democrats choose Spanberger to deliver State of the Union response: Virginia Governor Abigail Spanberger — a centrist former congresswoman — signals the party's continued positioning toward the center ahead of 2028.
The beef industry has a message for consumers: Get used to high prices: US cattle herds are at their lowest level in 75 years. Trump administration measures have had little effect. High beef prices are structural, not cyclical — a persistent consumer cost pressure that feeds directly into inflation politics.
*** Distribution + Innovation ***
Silicon Valley is building a shadow power grid for data centers: This is accelerating the bifurcation of the US power grid into public and private layers. For energy companies, data center power demand is now a competitive market, not a utility monopoly. For ESG-focused investors: private power plants mean emissions that bypass disclosure and regulatory frameworks.
Is an AI price war about to begin? June Yoon writes that China's Zhipu is marketing access to AI models at approximately $3 per month. US peers charge closer to $20 per month for consumer plans. This is the DeepSeek signal playing out in the market. AI commoditization is underway. For tech executives: differentiation must come from proprietary data and vertical integration — not raw model access.
Big AI is seizing the political moment before the backlash: Meta, OpenAI, and others are spending heavily on national and state/local politics before regulatory frameworks solidify. OpenAI president Greg Brockman became a major donor to a Trump PAC. The AI industry is buying its regulatory window—and it's finite. Understand which AI vendors carry political protection and which face exposure. This shapes partnership risk over the next 18 months.
Simile raises $100 million to build AI that predicts human behavior: The Stanford spinout trained its model on interviews with real people and historical transaction data. Use cases include predicting questions likely to be asked on earnings calls. Behavioral AI is emerging as a distinct category with specific applications in corporate communications and investor relations — watch this space.
Nvidia and OpenAI near $30 billion investment deal: The chipmaker is swapping last year's complex $100 billion framework for a cleaner $30 billion equity check. The simpler structure signals a maturing relationship — and Nvidia's interest in locking in strategic alignment with the leading model developer.
Nestlé exits ice cream, restructures around coffee, pet care, and nutrition: Full-year operating profits fell 8.4% to SFr 14.4 bn. The restructuring signals margin pressure in commodity-exposed consumer categories and the continued retreat of diversified food giants toward premium, high-margin verticals.
*** Culture ***
The global triumph of Nigerian fashion: Nigeria's styles are gracing red carpets and going viral on TikTok. Africa's cultural export profile is rising — and cultural influence precedes economic and political leverage. Companies building African market strategies should track where soft power momentum is building.
The billionaires behind Japan's cultural icons: From Hello Kitty to Demon Slayer, pop culture is now Japan's second-most-valuable export. Japan is executing a sophisticated soft power strategy through commercial cultural exports, comparable in impact to the US's entertainment dominance. Watch how this shapes Japan's trade and investment positioning in Asia.
*** Sport ***
Pressure builds on Wasserman to step down from LA Olympics leadership: The Epstein exposure wave is reaching the Olympics — two years out from LA28. Leadership instability creates operational and reputational risk for corporate sponsors already committed to the games. Watch whether Wasserman steps aside or fights it.
Chicago Bears take key step toward Indiana stadium move: Indiana passed a key measure to entice the NFL franchise to cross state lines — a divisive move reflecting intensifying state-level competition for major sports franchise economic anchors.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Global Daily | February 19
Caracal Global Daily
February 19, 2026
Sundance, UT
Here's what a Chief Geopolitical Officer should be monitoring today.
Hiatus alert: Caracal Global Daily will be off next week. Marc will attend and curate Brigadoon @ Sundance Mountain Resort 2026. Back Monday, March 2.
*** Three issues Caracal Global is watching today ***
#1 US positions for possible Iran strikes as nuclear talks collapse: Military action against Iran is no longer hypothetical—energy markets, Strait of Hormuz transit, and Gulf supply chains face acute near-term disruption risk.
Why this matters: Energy procurement teams are modeling supply-shock scenarios this week; companies with Gulf operations are activating existing contingency protocols immediately.
#2 Geneva Russia-Ukraine talks end after two hours with no breakthrough: No ceasefire framework is imminent—European operational uncertainty is structural, not transitional, through at least mid-2026.
Why this matters: European ops teams extend risk-planning horizons through Q4; update contingency reviews for Eastern European logistics and defense procurement partners.
#3 Trump approval ratings hit second-term lows across every major poll: A politically weakened president heading into midterms signals volatility in tariff policy, regulatory priorities, and legislative capacity through November.
Why this matters: Government affairs teams war-game post-midterm legislative scenarios now; CFOs build policy flexibility into 2027 planning cycles.
*** Ross Rant ***
No Ross Rant today. Go watch Russia 1985–1999: TraumaZone.
Here's the trailer.
*** Globalization + Statecraft ***
Talks break in Geneva with no end to Russia's war or hard-line demands: WP reports after two hours of American-led negotiations, Russian delegation head Vladimir Medinsky called talks "difficult but businesslike" while Zelensky accused Moscow of deliberate stalling.
Russia is not negotiating—it's performing negotiation. Two hours across two days signals zero intent to compromise. For companies with European manufacturing, logistics, or energy exposure, the war's economic drag on Europe continues into 2026, with no exit ramp in sight. Ukraine's railway system, now reinforced with armored locomotives and anti-drone jamming tools, signals Kyiv is building for a long fight—not a settlement.
German general says Trump 'erratic' as fears of Russian attack grow: The Times reports Major General Wolf-Jürgen Stahl warns Putin may be preparing military aggression against NATO and that Europe faces turbulence as alliances are strained.
When German generals go on record calling the US president "erratic," the alliance is in structural trouble. NATO's deterrence model requires US credibility. That credibility is now publicly contested by allies themselves. European defense spending is accelerating—and European companies are making procurement decisions without waiting for Washington.
United States and Iran at impasse; US gathers most air power in Mideast since 2003: DW, WSJ, and NYT report nuclear negotiations ended without a breakthrough as carrier groups and strike assets position across the region. Trump has not ordered strikes—but has not ruled them out.
This is the most significant near-term supply chain risk in today's newsletter. Strait of Hormuz transit—roughly 20% of global oil flow—is one presidential decision away from disruption. For energy executives: model the scenario. For manufacturers with Gulf supply exposure: identify alternatives now. The diplomatic window is narrowing.
Trump reverses on the Chagos Islands; warns the UK not to cede Diego Garcia: FT, Le Monde, and DW report that the US president has reversed earlier support for the UK-Mauritius handover, citing the base's potential role in an Iran strike scenario. London stood by the agreement.
US-UK alignment on one of the most strategically significant Indian Ocean bases is now publicly fractured. The timing—explicitly tied to Iran's military positioning—makes this more than a bilateral real estate dispute. Companies with exposure to Indian Ocean logistics should watch this closely.
Trump's Board of Peace pledges $5 billion for Gaza; Pope snubs it; Europe stays at arm's length: WSJ, Politico, and Le Monde report the new body meets Thursday in Washington. Hamas must disarm first. The EU sent observers, not members—only Hungary and Bulgaria accepted seats.
Five months after the ceasefire, the Board of Peace has delivered no tangible results and faces institutional skepticism from the Vatican, most of Europe, and the UN. Hamas has shown no interest in disarming. The gap between announcement and reality is widening—and that gap is a business risk for any firm planning Middle East infrastructure investment.
As Israel takes steps to claim West Bank land, the US stands by: WP reports Britain and others condemned the moves at a UN Security Council meeting. Trump has opposed formal annexation—but has not acted to prevent it.
The trajectory of the West Bank is toward de facto annexation, regardless of formal US policy. Companies operating in the region or managing government relationships with Arab states need to factor this into political risk frameworks. The international legal environment surrounding this territory is deteriorating.
North Korea unveils nuclear-capable rocket launchers ahead of rare party congress: DW and Bloomberg report Kim Jong Un showcased dozens of new systems he called "the most powerful in the world"—virtually indistinguishable in precision and power from ballistic missiles. The Ninth Congress of the Workers' Party will produce a new five-year economic plan and nuclear deterrence roadmap.
North Korea is signaling before negotiating. The party congress will lay out Kim's terms for any Trump engagement. Watch for nuclear posture language emerging from the congress—it will define the parameters of any diplomatic opening and calibrate the risk environment across Northeast Asia.
Analysis: Isolated Xi directly presses for soldiers' loyalty amid ongoing military purges: Nikkei reports the supreme leader can no longer trust generals as PLA purges continue.
Xi's inability to trust his own military is the defining corporate risk signal for China right now. Combine this with the CIA's recent public recruitment of disillusioned PLA officers, and you have a command structure under deep internal stress. For anyone modeling Taiwan scenarios or Chinese military posture: factor in command dysfunction, not just capability.
+ IMF calls on China to cut industrial subsidies in half—FT reports international pressure on Beijing's economic model is intensifying as trade tensions with Europe persist.
Xi tries to bully Trump on Taiwan arms sales: WSJ Editorial writes Beijing is pressing hard to delay or dilute a pending US arms sale to Taipei.
Beijing is reading Trump's transactional instincts correctly: if it can offer enough—economically or diplomatically—it may succeed in weakening US
commitments to Taiwan's defense. For tech and semiconductor companies: Taiwan's security calculus is shifting in real time. Don't plan around the status quo.
OpenAI partners with Tata Group in India on AI infrastructure: WSJ and The Economist report a 100MW data center (expandable to 1GW at $35-50B) anchors the partnership—even as India remains a bystander in frontier AI development despite hosting a global AI summit.
India is building AI infrastructure, but it cannot be filled with domestically-built models. Tata's OpenAI partnership makes it an importer of intelligence, not a producer. For companies building AI operations in India, the ecosystem is structurally import-dependent. Govern your partnerships accordingly.
Ceasefire in eastern DR Congo raises cautious hopes; US critical minerals interest could help it hold: DW reports that the Washington Accords ceasefire is set to begin. Analysts remain skeptical.
US interest in Congolese critical minerals—particularly for EV battery supply chains—is the variable that could make this ceasefire durable where others have failed. Watch whether economic engagement follows the diplomatic push. That sequence is the tell.
Peru names fifth president in five years; US military commander makes surprise visit to Venezuela: Bloomberg reports Peruvian lawmakers selected left-wing lawmaker José María Balcázar as interim president—the fourth since 2021's election. Separately, Marine General Francis Donovan met Venezuelan officials, including Diosdado Cabello, to discuss counternarcotics, terrorism, and migration, with Nicolas Maduro now in US custody awaiting trial.
Latin America's political instability is structural, not cyclical. Peru's fifth president signals no governance stabilization in sight. Venezuela is being reset by direct US military engagement—watch for how Maduro's trial affects regional dynamics and whether Caracas offers concessions in exchange for any political accommodation.
France: activist's death triggers political tensions ahead of elections; American investor confidence deteriorates: NYT and Le Monde report that the beating death of Quentin Deranque has become a far-right/far-left flashpoint ahead of local elections next month and presidential elections next year. Separately, 77% of American companies in France report they don't trust the government's ability to implement structural reforms.
France is becoming harder to operate in. Political polarization, declining investor confidence, and street politics create a volatile operating environment as a two-year election cycle begins. Companies with French operations should elevate their engagement with government relations now—before election dynamics freeze access.
Gabon blocks social media; Spain maneuvers for ECB influence: Gabon suspended Meta, YouTube, and TikTok following the coup government's claims of threats to public order. Spain is positioning for an influential ECB executive board seat amid speculation Christine Lagarde may depart before her 2027 term ends.
Two signals: Gabon's blackout fits an accelerating pattern of post-coup governments using platform suppression to consolidate control—a risk template for sub-Saharan Africa operations. Spain's ECB maneuvering signals European monetary policy succession battles are beginning earlier than expected. Watch who backs whom.
*** US Politics + Elections ***
Trump keeps getting less and less popular: NY Mag reports every major polling firm—Reuters-Ipsos (minus-22), AP-NORC (minus-26), Morning Consult (minus-12), NBC News (minus-22), Quinnipiac (minus-19)—now shows Trump at second-term lows.
A president at minus-22 heading into a midterm year is a president who loses the House. That is the planning assumption on which government affairs teams should operate. Tariff policy, the regulatory agenda, and executive action capacity all look very different in a split Congress. Model it now—not in September.
Inflation is down, but Americans still feel an affordability squeeze: Bloomberg reports that consumer delinquencies have reached their highest level in nearly a decade, even as headline inflation cools, with food, housing, and utility costs still elevated.
The political economy of 2026 is stagflationary in feel if not in technical measurement. Consumers are tapped out and increasingly borrowing to cover essentials. This is the environment in which companies are trying to pass through tariff-driven cost increases. The margin compression is real—and it's political.
'Woke' AI feud escalates between Pentagon and Anthropic: WSJ reports the Defense Department may require contractors to certify they don't use Anthropic's Claude. NYT and Le Monde cover Dario Amodei's rare public acknowledgment of White House disagreements over AI regulation and military use.
Anthropic is in a genuinely precarious position—pushing back on a politicized Pentagon while trying to maintain enterprise credibility. For companies using Anthropic tools in defense-adjacent work: watch whether contractor certification requirements materialize. For the broader AI procurement landscape, political alignment is becoming an enterprise risk variable. This is new terrain.
Meta begins $65 million election push to advance AI agenda: NYT reports Meta is targeting state legislatures in Texas and Illinois first, seeking to preempt state-level AI regulation.
The AI regulatory battle is moving to the states. Meta's investment signals federal preemption is not guaranteed—and that AI governance will be fragmented across jurisdictions. For technology legal and compliance teams: map state-level AI legislation exposure now, before Meta's campaign reshapes the battlefield.
Donald Trump's AI push fuels revolt in MAGA heartlands: FT reports Republican incumbents fear constituent backlash against the White House AI agenda could hurt them in the midterms.
AI is fracturing the Republican coalition in an unexpected direction. Rural MAGA voters see AI as a jobs threat, not a growth driver. This signals that bipartisan opposition to AI may be growing from quarters the industry didn't anticipate. Adjust legislative strategy accordingly.
Trump Organization trademarks 'Donald J. Trump International Airport': NYT reports the move was made to protect the brand as Florida prepares to rename an airport after the president.
Presidential brand + public infrastructure = governance conflict of interest that will generate litigation and political attention throughout the term. Watch which other infrastructure projects enter the Trump brand pipeline.
Bowser declares Potomac sewage spill emergency; Trump 'worried' about smell for 250th celebrations: WP and USA Today report DC's mayor declared an emergency and sought federal aid as the president flagged concern about the sewage situation affecting America's 250th anniversary events.
Infrastructure failure at the nation's capital—timed to a major national commemoration—is an embarrassment that generates political attention regardless of party. Watch how federal-local coordination plays out under DOGE-era budget constraints. The optics window for the 250th is closing.
The Republican governor getting under Trump's skin: WSJ reports Oklahoma's Kevin Stitt has weathered criticism from the president ahead of the governors' White House meeting.
Intra-Republican friction between governors and the White House is a pattern worth tracking. State executives are beginning to protect their own political brands from association with an unpopular president. Watch how many governors in competitive states start putting distance between themselves and Washington.
*** Distribution + Innovation ***
Zuckerberg takes the stand in landmark social media addiction trial; overruled 18 wellbeing experts on beauty filters: WSJ, NYT, FT, and Le Monde cover the first of 1,600+ lawsuits alleging Meta's platforms are addictive. Zuckerberg testified that he regrets the slow pace of age verification and was pressed about internal decisions that prioritized engagement over safety.
This trial is a legal inflection point for every platform company. If Meta loses, Section 230 protections that have shielded tech from product liability face direct challenge. The disclosure that Zuckerberg overruled 18 internal well-being experts creates a paper trail that plaintiffs will use across all 1,600 cases. For tech executives: your internal deliberations on user safety are now discovery targets.
UK to require tech firms to remove revenge porn within 48 hours; Europe follows Australia's youth-ban model: The Times, FT, and DW report that the UK's new powers include fines of up to 10% of global revenue and potential service bans for repeat offenders. Germany and other EU nations are advancing similar measures modeled on Australia's youth social media restrictions.
The regulatory wave is coordinating across jurisdictions faster than most compliance teams are tracking. The UK, EU, and Australia are moving in tandem on platform liability, youth access, and content removal timelines. A multi-jurisdictional compliance stress test is now baseline planning—not contingency.
OpenAI funding on track to top $100 billion; AI market built on circular deals raises concern: Bloomberg reports OpenAI's latest round—anchored by Amazon, SoftBank, Nvidia, and Microsoft—could push valuation above $850 billion. A separate Bloomberg report flags growing alarm that the trillion-dollar AI boom is propped up by interconnected transactions among the same players.
The circular deal structure is the risk. When the same companies are simultaneously investors, customers, and infrastructure providers for each other, valuations reflect relationship networks more than independent market validation. For PE firms and investors deploying into AI: scrutinize deal structures for circularity before committing capital. This unwind, when it comes, will be fast.
+ Saudi Arabia's Humain invested $3B in Elon Musk's xAI. Abu Dhabi's MGX is backing both OpenAI and Anthropic as part of a $100B AI bet. Sovereign wealth capital is flooding the same circular ecosystem from multiple directions.
Millennials melted their brains with screens. Their kids want none of it: Bloomberg reports Gen Alpha is increasingly gravitating toward physical products—graphic novels, CDs, screen-free audio players—as parents actively limit smartphone access.
The Gen Alpha consumer shift is a product opportunity and a platform risk. Physical media, offline experiences, and hardware alternatives to smartphones are seeing genuine sales increases. For consumer brands: the anti-screen trend is early but real. For platform companies, their next user cohort is being raised to distrust them.
Deutsche Bahn cyberattack disrupts German rail; French Economy Ministry reports 1.2 million bank accounts compromised: DW and Le Monde report back-to-back infrastructure cyberattacks in Europe—Germany's national rail operator and France's economy ministry in the same week.
Two major European infrastructure attacks in one week are not a coincidence—it's a pattern. Rail systems and government financial infrastructure are priority targets. For companies with European operations: audit vendor and government-connected data exposure now. This is escalating.
eBay to buy Depop from Etsy for $1.2 billion: WSJ reports the deal expands eBay's Gen Z reach. Etsy paid $1.6B in 2021—a $400M correction in four years.
Etsy overpaid at peak e-commerce enthusiasm; eBay buys the distressed asset at a discount. The secondhand fashion market remains structurally strong even as platform consolidation shakes out the overvalued. Watch whether eBay can convert Depop's Gen Z users into its broader marketplace without killing the culture.
US restaurants downsize meals to counter anti-obesity drugs and affordability crisis: FT reports GLP-1 drug adoption and consumer budget pressure are simultaneously compressing restaurant portion demand from both directions.
Two structural forces are reshaping unit economics for food and beverage companies—and neither is temporary. This is not a menu adjustment. It's a fundamental reset of volume and pricing assumptions that requires a strategic response, not an operational tweak.
Gen Alpha is helping revive China's struggling malls: Bloomberg reports Shanghai's Super Brand Mall and peers are retooling around children's play areas, theaters, and family experiences as e-commerce hollows out adult retail traffic. Chinese parents now spend over $800 billion annually on children.
China's domestic consumption recovery is being driven by child-focused spending, not by the broad consumer rebound expected post-COVID. For retail and consumer brands in China, the growth channel is youth and family. Adjust product and channel strategy accordingly—this is durable.
The world is on an AI path to disaster, a former Google executive warns. The Times reports that Dex Hunter-Torricke predicts AI-enabled elite luxury and diminished prospects for the majority—unless governments adapt quickly.
The mainstream conversation about AI risk is shifting from abstract safety debates to concrete questions about who benefits. This framing will gain political traction as AI job displacement becomes visible in swing districts. For corporate AI teams: the narrative environment around AI deployment is changing faster than your stakeholder communications strategy.
*** Culture ***
With 'Coutures,' Alice Winocour explores the fashion world with Angelina Jolie—hospital drama, not satire: Le Monde reports the film trades industry mockery for intimate human complexity set backstage at fashion week.
Fashion week as a venue for vulnerability rather than spectacle reflects a broader cultural appetite for authenticity over aspiration. For luxury brand strategists: the cultural moment has shifted. Consumers—particularly Gen Z—are drawn to complexity and honesty. Aspiration-only positioning is increasingly misread.
*** Sport ***
New York Knicks owner explores splitting basketball and ice hockey franchises: FT reports that a potential separation of the Knicks and Rangers follows a busy year of corporate spin-offs.
Separating the Knicks from the Rangers would unlock separate valuation paths for two franchises that have performed very differently under the same ownership. The sports franchise as an unbundled financial asset continues to mature as an institutional investment thesis. Watch for sovereign wealth funds and PE as natural buyers if either comes to market.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Global Daily | February 18
Caracal Global Daily
February 18, 2026
Detroit, MI
Here's what a Chief Geopolitical Officer should be monitoring today.
Hiatus alert: Caracal Global Daily will be off next week. Marc will attend and curate Brigadoon @ Sundance Mountain Resort 2026. Back Monday, March 2.
*** Today's Focus ***
Item 1: Iran and the US agree on "guiding principles" for a nuclear deal in Geneva
Why this matters: For the first time in years, the two sides are operating from a shared framework rather than trading threats. That's not a deal—but it's the architecture one gets built on. Companies with Middle East exposure, energy-sector players, and defense contractors should update their scenario planning: a near-term military confrontation has become significantly less likely, even as significant gaps remain.
Item 2: Ukraine-Russia peace talks begin in Geneva under heavy US pressure—Moscow isn't budging
Why this matters: Russia is absorbing casualties and economic pressure, yet its negotiating team is led by a Kremlin aide who has publicly questioned Ukraine's sovereignty. That tells you everything about Moscow's real position. Companies with European operations should not interpret "talks are happening" as stability—Russia's maximalist demands and continued strikes on Ukrainian infrastructure signal this drags on. Watch European defense spending acceleration as the real hedge.
Item 3: Canada formally pivots from the US—on defense, on autos, on trade partners
Why this matters: This isn't symbolic. PM Carney has launched a multi-billion-dollar defense industrial strategy explicitly designed to reduce US dependency, is courting Chinese EV investment, and his government is threatening Detroit automakers who accepted Canadian subsidies but cut Canadian jobs. For US manufacturers with cross-border supply chains and for any company watching the North American trade architecture, the long-held stability of the US-Canada relationship is no longer assured. This is a structural shift, not a negotiating tactic.
*** Ross Rant ***
AOC's Munich stumble reveals a geopolitical knowledge gap in America's leaders
When Democrat New York Representative Alexandria Ocasio-Cortez (AOC) fumbles over her words, pauses blankly at the Munich Security Conference—one of the world's premier foreign-policy events—and won't commit the United States to defending Taiwan if China ever invades, the stumble reveals a geopolitical knowledge gap among America's leaders. Jim Geraghty in the Washington Post called the moment "strategic incomprehensibility."
"Um, you know, I think that this is such a, you know, I think that this is, this is of course a very longstanding policy of the United States," Ocasio-Cortez said as she struggled to answer the question from moderator Francine Lacqua of Bloomberg TV. "What we are hoping for is that we want to make sure that we never get to that point," she added.
Yikes.
AOC, long known for her communications, was instantly hurt by this stumble, and her presidential aspirations will suffer. Her answer to Lacqua revealed that it takes more than being a progressive princess to become the leader of the free world.
Executives in corner offices in Chicago, Houston, and Atlanta shouldn't be gleeful in AOC's stumble. They should draw a very different lesson from this uncomfortable moment: if one of America's most prominent politicians couldn't answer the Taiwan question clearly, what does that say about how prepared your company is for the scenario itself?
Munich was revealing precisely because it was supposed to be a showcase. AOC arrived as the brightest star of the American progressive movement, a potential 2028 presidential candidate testing her foreign policy credentials before an audience of world leaders. Instead, she struggled to articulate a coherent position on the most consequential geopolitical flashpoint of our era. Even sympathetic voices in her own party conceded the stumbles. What was a surefire presidential soft launch venue turned into a hard landing, aka a crash.
But here is the harder truth: most corporate leadership teams would fare no better if pressed on the same question in a board meeting.
The Taiwan Strait is not an abstraction.
Approximately $3 trillion in global trade passes through those waters annually. Taiwan produces the majority of the world's most advanced semiconductors. A Chinese military action against Taiwan, whether a blockade, a missile campaign, or an amphibious assault, would immediately disrupt supply chains, freeze financial markets, trigger emergency sanctions regimes, and force every multinational corporation with Asia-Pacific exposure to make decisions for which most have no playbook. The question AOC couldn't answer is one your risk committee should be rehearsing quarterly.
The conference was ostensibly about security, but the underlying current was geopolitical fragmentation at scale. US Secretary of State Marco Rubio worked to reassure jittery European allies about America's commitment to NATO. At the same time, AOC offered a class-based internationalist framework that left even friendly observers uncertain about its policy implications. The result was a conference that produced more anxiety than clarity, a signal executives should internalize.
We are operating in a world where American foreign policy is being challenged by both foes and allies, where the traditional rules-based order is under strain from multiple directions simultaneously, and where the next administration, regardless of party, will inherit a geopolitical landscape fundamentally different from that of a decade ago. The business environment your company navigated in 2019 is not returning.
What does this mean operationally?
It means the persistent volatility your procurement teams are managing around tariffs is not a negotiating tactic to be waited out. It is structural. Tit-for-tat trade measures between the United States and its major economic rivals have become a durable feature of the global commercial landscape rather than an anomaly. Supply chain strategies built around cost optimization in a stable geopolitical environment need to be rebuilt around resilience in an unstable one. Capital expenditure decisions that once turned primarily on interest rates now must account for jurisdictional risk, sanctions exposure, and the political durability of bilateral relationships.
The boardrooms that will navigate this era successfully are those that treat government relations and geopolitical intelligence not as communications overhead but as operational infrastructure. Companies need to know which legislators are driving trade policy, which regulatory bodies the Trump administration is weaponizing, and which alliances are under stress before those dynamics produce a crisis that forces a reactive response.
AOC's Munich moment was a preview of the debates that will define the next presidential cycle, and by extension, the policy environment your business will operate within through the end of the decade. Taiwan, NATO burden-sharing, sanctions architecture, export controls, and industrial policy are all live questions with direct revenue implications for multinational corporations.
Caracal Global serves as a fractional Chief Geopolitical Officer for Fortune 1,000 companies and private equity portfolio companies, providing intelligence, strategy, and communications at the intersection of globalization and American politics. Michigan-born and DC-based, Caracal's leadership brings experience in US-China commercial relations, NATO affairs, and national political campaigns on both sides of the Atlantic.
The Taiwan question isn't going away.
The executives who answer it strategically, before the crisis forces the issue, will be the ones still standing when it does.
-Marc
*** Globalization + Statecraft ***
Iran offers nuclear concessions as US talks make progress: WSJ reports Tehran floated enrichment pauses and business deals to encourage a nuclear deal amid military threats. Both sides now acknowledge a "set of guiding principles"—the first structural framework since talks collapsed. This reduces near-term conflict risk, but Tehran's foreign minister cautioned it "will take time to narrow" the gap, and VP Vance noted Iran hasn't acknowledged all of Trump's red lines.
+ For energy traders and companies with Gulf operations: adjust conflict risk premium downward for Q1, but don't price out volatility. The deal isn't done.
Russia presses demands, and faces pressure, as Ukraine talks move to Geneva: WP reports high casualties and economic trouble signal time may no longer be on Russia's side—but Moscow isn't backing off political and territorial demands.
Ukraine made its fastest territorial gains since 2023 in the past five days, while disrupted Starlink access is creating Russian command-and-control problems. And yet: Russia's negotiating team is led by a Kremlin aide who has questioned Ukraine's sovereignty, and Moscow carried out fresh strikes on Odesa's power grid the night before talks. This is not a party that believes it's losing.
+ For European-exposed companies: don't reduce risk posture based on Geneva optics alone.
Zelensky says it's unfair Trump is pressing him more than Putin: The Times reports Ukraine's president says his people would never forgive a deal surrendering the Donbas. The political pressure on Kyiv from Washington is real and escalating. Zelensky is being asked to make concessions that Putin isn't being asked to make. That asymmetry tells you something about how Trump's team has calibrated leverage.
+ Companies planning European investment or infrastructure exposure should model a scenario where a deal is reached on unfavorable terms for Ukraine—and what that means for European security architecture afterward.
NATO defense spending gap widens: France lagging, UK "going faster": Germany—which greenlit a debt-fueled military expansion—is calling out France for falling behind its NATO commitments. British PM Starmer says the UK must also accelerate its path toward 3% of GDP for defense. Both are hampered by weak economies.
+ The headline number at Munich was 5% of GDP pledged last June. The reality is a patchwork of capability gaps, political constraints, and economic headwinds. For defense contractors and European government affairs teams: Germany is the spender. France is the laggard. Identify who's buying.
Germany asks Ukraine to train its soldiers in drone warfare: The Times reports Ukrainian troops will instruct Bundeswehr counterparts in battlefield technologies under a new defense deal. Germany is acquiring institutional knowledge from the only force that has actually fought peer adversaries with modern drone systems at scale.
+ This is smart—and signals Berlin is preparing for a long-term strategic posture independent of US cover. Defense technology companies should be in this conversation.
Russia dirty tricks 'pave the way for attack on Baltics': The Times reports Russia and Belarus are promoting a fringe historical theory that could be used to justify a future invasion of Lithuania.
+ Information operations precede kinetic operations. This pattern is consistent with how Russia prepared narratives in the lead-up to the 2014 and 2022 elections. Baltic exposure deserves a watch.
Finland's President Stubb has a plan for the liberal world order: A shared golf relationship with Trump has given Stubb unusual access. His calm realism on Arctic security and transatlantic tension is worth understanding. Watch his interview with David Rennie, The Economist’s geopolitics editor, at the Munich Security Conference to explain his approach to diplomacy, disagreement, and the changing world order. Economist
Giorgia Meloni's mission: Playing bridge between Trump and Europe: WSJ reports Italy's leader is trying to prevent the transatlantic rift from becoming a permanent divorce—even as European voters sour on the alliance.
+ Meloni is the most strategically positioned European leader right now—credible to both Washington and Brussels. Companies managing government relations across the Atlantic should watch her as a signal of where the middle ground lies.
Poland extends war reparations campaign to Russia: FT reports Warsaw has already sought €1.3tn from Germany and is now adding Russia to its ledger.
Germany's population shrinking faster than expected: The Ifo Institute revised Germany's population down from 85m to 83m, with a 12% decline expected in the working-age population over 25 years.
+ Labor market and pension pressure ahead—and a structural argument for AI-driven productivity investment.
Japan plans $36 billion in US investments under Trump administration deal: WSJ reports the first tranche of Japan's $550 billion commitment includes a $33 billion gas plant in Ohio, a deepwater crude export facility in the Gulf, and a synthetic diamond manufacturing facility.
+ This is what a successful Trump trade negotiation looks like: visible, investable commitments that generate domestic jobs. For the US energy infrastructure and critical minerals sectors, Japanese capital is becoming a significant new variable.
US and Taiwan ink trade pact to slash tariffs and bolster semiconductor supply chains: Semafor reports the agreement is a "needed boost" to US-Taiwan ties as China hawks worry the Trump administration is softening its commitments to Taipei.
+ The semiconductor supply chain just got a degree of formal backing it didn't have yesterday. For tech companies managing Taiwan-exposed supply chains: this reduces—but does not eliminate—the vulnerability. China's reaction will be the watch item.
US to deploy more cutting-edge missile systems to the Philippines: The Straits Times reports both Washington and Manila committed to increasing US deployments of "cutting-edge missile and unmanned systems."
+ The South China Sea deterrence architecture is being reinforced in real time. This accelerates the de-risking calculus for companies with China-dependent manufacturing.
US faces 'decade-long' road to loosening China's grip on rare earths: Nikkei reports refining remains the critical hurdle even as Washington deploys billions and builds Asian partnerships.
+ The upstream mining problem is solvable. The downstream refining bottleneck is not in the near term. Supply chain resilience planning that doesn't account for this gap is incomplete.
Beijing offers 53 African countries tariff-free access: Semafor reports that China will scrap tariffs for 53 African countries from May 1, moving in the opposite direction from US trade policy.
+ China is systematically locking in African trade relationships while the US raises barriers. For companies operating in or sourcing from Africa, the competitive landscape for Chinese players just improved. Eswatini—which recognizes Taiwan—is the only country excluded.
Macron's India charm offensive: $30 billion Rafale deal on the table: AFP reports Macron is in Mumbai to close a 114-jet Rafale sale and deepen defense, tech, and trade ties with Delhi.
+ France is executing a sophisticated pivot—using defense hardware to pull India closer to Europe, away from its historic Russian supplier relationship, and offering an alternative to US F-35 dependency. India is buying leverage, not just jets.
India warns over AI's threat to its youth workforce: Semafor reports India's chief economic advisor warned the country must create 8 million jobs a year to sustain expansion, but coding and call-center jobs (its core exports) are highly AI-vulnerable.
+ Anthropic CEO Dario Amodei acknowledged the brief window of human-AI productivity partnership directly at the New Delhi summit.
+ For companies with Indian technology outsourcing relationships: start modeling the transition now.
Canada is embracing Asia to preserve its auto heartland: Bloomberg reports that Canada is courting Chinese EV investment and restructuring trade policy as Detroit automakers cut Canadian production.
+ This is a pivotal signal for Detroit. Canada is doing what was unthinkable 15 months ago: inviting BYD and Chery into its auto industry. GM, Ford, and Stellantis are rapidly losing leverage in Ottawa.
+ The US-Canada auto supply chain that has existed since the 1960s is being renegotiated in real time—not at a negotiating table, but through investment decisions.
+ Industry Minister Joly has threatened to go after GM and Stellantis for money, accusing them of breaking past subsidy commitments after cutting Ontario jobs.
A data leak at the Abu Dhabi Finance Summit exposes politicians and business leaders: FT reports that personal documents, including the passports of hundreds of ADFW attendees, were found online.
+ Elite information security remains a persistent vulnerability. Board vetting and conference security protocols need to be reviewed.
Peru ousts its eighth president in ten years: WSJ, NYT, FT all report Congress removed interim President José Jerí—four months into his tenure—for failing to disclose meetings with a Chinese businessman.
+ The China connection is the detail that matters. Peru's political fragility is well established; what's new is that the disclosure of foreign national relationships is now a trigger for impeachment. For companies operating in Latin America, Chinese business relationships are increasingly politically toxic, not just commercially complex.
*** US Politics + Elections ***
Anthropic vs. the Pentagon—and it's getting ugly: Axios reports Defense Secretary Hegseth is "close" to designating Anthropic a "supply chain risk"—the same classification used for foreign adversaries—over its refusal to allow Claude to be used for mass surveillance or autonomous weapons without human oversight.
+ This is the most significant corporate-government AI standoff in US history. Anthropic's Claude is currently the only AI model in classified military systems.
+ The Pentagon's position is that Anthropic's ethical guardrails are "unacceptable." Anthropic's position is that it won't allow its technology to fire weapons without human involvement or surveil Americans en masse.
+ Every company using AI in government contracts needs to understand: this fight is going to define the terms of the entire industry's relationship with the defense sector. Palantir—which sits in the middle as a contractor—is immediately exposed.
+ WP editorial on AI and automation ran the same day. The convergence of Pentagon pressure and public debate about AI's reach is not coincidental.
AOC stumbles on Taiwan at Munich—a warning signal for the 2028 left: NYT Magazine's Ross Barkan frames the fumble clearly: she couldn't answer a yes-or-no question on US defense of Taiwan. For a potential 2028 contender, this is a gap that matters.
+ Foreign policy credibility is a real prerequisite for the presidency. AOC performed well in Munich on most fronts—but the Taiwan moment reveals the left hasn't fully worked through its China-security framework. Watch how she course-corrects. That correction will define her viability.
Jesse Jackson dies at 84: WP, NYT, WSJ, Politico all mark the passing of the civil rights leader and two-time presidential candidate.
+ Jackson's 1984 campaign created the template for coalition-based insurgent Democratic candidacies—every left-of-center primary challenge since has operated in his shadow. His death closes a chapter of Democratic Party history that directly shaped the political infrastructure AOC, Bernie Sanders, and others have inherited.
DHS spokesperson Tricia McLaughlin exits Trump administration: Politico notes the departure comes as public opinion has shifted on the administration's immigration policies.
+ Communication staff turnover at DHS is a signal of internal tension around the policy's political sustainability. Watch for messaging recalibration on immigration ahead of the 2026 midterms.
Britain's monarchy can't escape the Epstein shadow: WSJ, The Times, and WP all advance the story as new email evidence deepens questions about Prince Andrew's ongoing relationship with Epstein after the "cut ties" date.
+ The Epstein network continues to generate political and reputational exposure for global elites. Board vetting standards should account for this.
+ Hillary Clinton has called for Andrew to testify before Congress; the Clintons are due to give their own testimony next week.
New Mexico launches investigation into Epstein's Zorro Ranch: The Times reports legislators are examining claims about deaths at the property. This is no longer just a financial or trafficking story.
Warren Buffett slashes Amazon stake by 75%, builds position in NYT Co.
+ The Amazon reduction is the headline; the New York Times investment is the signal.
+ Buffett is betting on legacy media brand value at a moment when trust in information is becoming a strategic asset.
Obama oral history: he didn't see Trump coming: NYT publishes a new oral history documenting how Obama's team missed the country's shifting mood.
+ His advisers describe Trump as a "con man" and "clown"—language that reveals how badly the Democratic establishment misread the 2016 environment.
*** Distribution + Innovation ***
Anthropic/Pentagon standoff: The AI governance fault line breaks open. The core issue: Anthropic refuses to allow Claude to be used for autonomous weapons or mass surveillance of Americans. The Pentagon, under Hegseth, considers those terms "unacceptable."
+ Every AI company with government contracts needs to assess where its own terms of service create similar exposure. This isn't just Anthropic's problem.
Meta deepens Nvidia ties with pact for 'millions' of chips: FT, Bloomberg reports Meta has committed to Nvidia's Grace CPUs and Blackwell/Vera Rubin AI accelerators in a multiyear deal.
+ Nvidia continues to consolidate its position as the infrastructure layer of the AI economy. The companies developing competing hardware—Meta included—are also the largest buyers of Nvidia's products. That dependency is structural, not temporary.
Apple is developing a trio of AI wearables: Smart glasses, camera AirPods, and a pendant. The wearable AI form factor race is accelerating.
+ Apple's three-track strategy positions it across every price point and use case in ambient computing.
Google and CTC Global launch an AI-driven grid optimization product that can increase grid capacity by up to 120% through existing power lines—without adding new generation.
+ For energy infrastructure investors: this is the kind of technology that changes the economics of the AI power buildout.
Ford's Universal EV Platform: competing on physics, not marketing: Ford's skunkworks team in California has developed a midsize pickup starting at $30,000, launching next year—20% fewer parts, 50 additional miles of range from aerodynamics alone. CEO Jim Farley frames it directly: "This is how we will compete and win against China."
+ For Detroit and the broader US auto industry: this is the most credible response to Chinese EV competition that any US OEM has produced. Watch the launch closely.
EV carmakers register $65 billion in write-offs globally: Semafor reports the US's elimination of the $7,500 federal tax credit in September accelerated industry-wide restructuring. Companies are reverting to gas-powered vehicle production.
+ The US pivot away from EVs is real and measurable. Supply chain players who positioned heavily for all-EV timelines need to reassess. Hybrid remains the durable middle ground.
Palantir relocates headquarters to Miami, Florida.
+ The symbolism is intentional. Miami has become the default landing zone for companies signaling alignment with the current political environment in Washington. Palantir's government business depends on those relationships.
Warner reopens talks with Paramount after sweetened offer: WSJ reports Warner's board has given Paramount a seven-day window. The media consolidation wave continues.
OpenAI and Anthropic deals power Abu Dhabi's $100 billion AI bet: Bloomberg reports MGX plans to spend up to $10 billion annually on AI infrastructure over the next several years.
+ Gulf sovereign wealth is becoming a major structural force in AI infrastructure buildout. This capital operates on longer time horizons and faces fewer political constraints than US or European institutional investors.
Spain to probe X, Meta, TikTok over AI-generated child sexual abuse material: The Spanish government has ordered prosecutors to investigate. European regulatory pressure on big tech is multi-fronted and accelerating.
*** Culture ***
Chinese kung-fu robots steal the show at Lunar New Year gala—watched by 600 million viewers: Le Monde reports CCTV's annual gala served as a showcase for China's robotics and AI advances.
+ This is soft power deployment at scale. Six hundred million viewers—the world's most-watched annual broadcast—and China used the moment to showcase technological capability, not cultural heritage. The message to global audiences: China's AI and robotics advances are real, they are national priorities, and they are being normalized as sources of pride. US tech leadership cannot be assumed.
Why your most creative ideas come after a night of sleep: WP reports REM sleep meaningfully improves problem-solving. For executives running on limited sleep during high-intensity periods—note taken.
*** Sport ***
One tiny country dominates the Winter Olympics—again: Norway, with the population of Minnesota, is racking up gold medals at Milan-Cortina. The WSJ explores the infrastructure, culture, and investment model behind consistent dominance.
+ The Norwegian model—long-term investment in youth development, elite infrastructure, and the cultural normalization of elite sport—is a competitive-advantage framework. The countries that win consistently aren't the richest. They're the most systematically invested.
Russian and Belarusian athletes permitted to compete under national flags at 2026 Paralympics: Le Monde reports that six Russian and four Belarusian athletes have been cleared to compete under their own flags in Milan-Cortina. Ukraine's Paralympic Committee is "very angry and outraged."
+ The IPC's decision fractures the unified Western position that sports governing bodies maintained post-Ukraine invasion. For companies sponsoring Paralympic athletes or the Games: reputational exposure requires a clear public position.
Athletes from Africa push for Winter Olympics inclusion: Six skiers representing Jamaica, Kenya, Eritrea, Madagascar, South Africa, and Benin gathered in Bormio to advocate for greater access.
+ The geography of elite winter sport is narrowing. The IOC's long-term sustainability depends on genuine global inclusion—not just symbolic. Watch how this pressure translates into structural program investment.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal