Roughly a fifth of the world's oil and more than a tenth of all global trade has been navigating a literal minefield, a wary insurance industry, and whipsawing geopolitics since late February of this year. But looking beyond the Strait of Hormuz closure itself, the same pattern threatens every critical chokepoint: passages open to all shipping for the past 80 years are becoming strategic assets within a geopolitical power struggle. If we continue this trend, what does a more fragmented, higher-cost, higher-risk maritime system mean for the norms and safety of the shipping industry, and what are the ripple effects for global trade?

In this episode, Nate is joined by maritime historian and former merchant mariner, Sal Mercogliano, to break down what the ongoing events in the Strait of Hormuz reveal about the state of global shipping and trade. Sal traces how the rise of unregistered "dark fleet" tankers and increasing risk – and subsequent cost – of maritime trade are reshaping the safety and stability of shipping across the globe. He also walks through who actually "owns" the Strait of Hormuz, the improvised insurance and security arrangements now propping up tanker traffic, and the human toll on the roughly 20,000 mariners who have been stranded, attacked, or killed since the crisis began. Ultimately, Sal examines how the 80-year-old norm of 'freedom of the seas' is being tested by this standoff, exposing the fragile foundation of our hyper-complex, just-in-time shipping system.

Why does the volume and velocity of modern trade make a conflict like the one in the Strait of Hormuz so much more consequential than at any other time in history? Is "might makes right" becoming the central pillar governing the world's oceans, and if so, what does that mean for the cost of everything that arrives by ship? And what does this conflict reveal about the stability of our highly interdependent system as global powers continue to fracture and isolate?

(Conversation recorded on June 29th, 2026)

About Sal Mercogliano:

Dr. Salvatore R. Mercogliano is an associate professor of history at Campbell University in North Carolina and adjunct professor at the U.S. Merchant Marine Academy. He holds a bachelor of science in marine transportation from the State University of New York Maritime College, along with a merchant marine deck officer license (unlimited tonnage 2nd mate), a master's in maritime history and nautical archaeology from East Carolina University, and a Ph.D. in military and naval history from the University of Alabama. He is also the host of the popular podcast What's Going on With Shipping, which focuses on Maritime Industry Policy, current events in the Maritime Sector, and Maritime History.

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Today, in Part 5 of the "How to Think About the Future" series, Nate scales his exploration of civilizational futures down to the future of a single human life and analyzes how the same patterns that shape economies, power, geopolitics, and Earth systems turn inward. Building on the framework developed throughout the series, he describes how the factors from material throughput to personal agency are underpinned by our own physical/mental health and our web of relationships. Nate emphasizes that we cannot build any stable future on top of cracking foundations, pointing toward the importance of cultivating a strong base of personal health and community to operate from.

By outlining these scenarios – both on the personal and civilizational scales – Nate challenges the long-held assumptions that equate growth with success. He explores why the most regenerative paths available to us often look like decline from the outside and discusses the ways in which our civilizational foundations have been obscured by a societal trajectory of constant growth. Overall, this episode offers a mirror for reflecting on the landscapes we inhabit today and the quiet work required to navigate toward a better future for humanity and the biosphere.

Are your daily choices strengthening your foundations, or are they slowly eroding the capacity you'll need for what's ahead? Which personal future scenario do you feel you're living in today, and what patterns are quietly shaping where you're headed? And how would your life change if you measured success by regeneration instead of productivity or growth?

(Recorded July 5th, 2026)

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Every year, hundreds of billions of dollars flow through global philanthropy, yet only a small fraction reaches environmental, climate, and nature-related causes. Meanwhile, in small towns and rural communities around the world, a hidden throughline of regenerative work is already underway. This work rarely waits for large-scale funding to begin, but it does need resourcing to grow into replicable movements capable of propelling system-wide change. What would it take to build financial infrastructure that actually gets capital to the people already doing the work of healing land and community?

In this episode, Nate is joined by Matthew Monahan, co-founder of the nonprofit Ma Earth, to explore the emerging field of regenerative finance. Matthew digs into why top-down, siloed, and low-trust funding systems keep capital from reaching frontline communities, and how tools like open protocols, decentralized data commons, and blockchains might (with healthy consideration) help coordinate trust and resourcing at scale. Matthew also discusses Ma Earth's collective crowdfunding platform that pairs philanthropic dollars with community fundraising for grassroots land and ecological projects – from mangrove restoration in the Pacific to a farmer's cooperative for war amputees in the Congo – and how anyone can become involved.

How might we approach the ambitious goal of attuning money with the health of the planet and the life that inhabits it? Is it possible to use tools like blockchain and crowdfunding to route capital toward life without building a bigger version of the same self-eating machine? And can bottom-up, community-defined funding scale to the size of the problem without losing the trust and specificity that make it work in the first place?

(Conversation recorded on June 29th, 2026)

About Matthew Monahan:

Matthew Monahan is the co-founder of Ma Earth, a community-led movement aiming to align economic incentives with planetary health and regeneration. He also hosts The Regeneration Will Be Funded, a podcast under Ma Earth that explores intersections of regenerative finance, technology, and ecological health.

He's involved in regenerative agriculture, specifically through Mangaroa Farms in Aotearoa, New Zealand, a regenerative farm and educational hub. This farm works on transforming dairy & pine plantations into more regenerative systems, reforesting, building local food infrastructure, and engaging communities.

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