The Age of Cascading Collapse

How a War with Iran Would Redraw the Global Economic

A Spark Ignites Berlin. November 2025. 11:47 PM. The champagne had gone flat hours ago. Around a glass conference table in a Kreuzberg office, five founders stared at the same spread sheet a document that would decide the fate of a company they had built from nothing. The numbers told a story no amount of German engineering could rewrite. On one side: a €12 million Series A offer from a Munich-based VC. Respectable. Safe. European. On the other: a $22 million term sheet