We Lost The Wargame. Good.

We Lost The Wargame. Good.

The latest NATO wargames delivered an uncomfortable message: cheap drones can overwhelm military hardware costing orders of magnitude more. Ukrainian operators reportedly inflicted heavy simulated losses on U.S. and NATO ground forces using systems costing a fraction of the equipment they targeted.

For markets, who won the exercise isn't the important part. The cost-exchange ratio is.