The theoretical threat to global energy markets is now a physical reality as Iranian missiles test the security of the Strait of Hormuz's last alternative shipping channel. Meanwhile, a massive 29-state coalition isn't just seeking a standard fine against Meta—they are targeting the underlying algorithmic economics of the entire social media sector. Plus, a tale of two earnings reports shows how one-time government payouts and painful AI pivots are skewing corporate realities. • **Geopolitics:** Iran fires two ballistic missiles toward the Strait of Hormuz, threatening the Omani shipping channel that handles 80% of recent vessel traffic. • **Big Tech on Trial:** Opening arguments begin in a 29-state lawsuit against Meta, threatening up to $1.4 trillion in damages and the potential removal of algorithmic feeds for minors. • **Corporate Earnings:** T ...