🌊 India Strikes Back

Maybe the guy on the painting once was smiling…

31 years ago today, Norway’s most famous painting “The Scream” by Edvard Munch was recovered almost three months after it was stolen from a museum in Oslo. You might think this would be the last time it was stolen but no: In 2004, masked gunmen stole it from another museum, and it was recovered two years later. Evidently “easily stolen” is a good thing in the art world because the painting sold for $120M in 2012. Now we know why that dementor on the front of it was screaming…
31 年前，挪威名畫《吶喊》失竊近三個月後尋回。但 2004 年又被偷，兩年後才找回。這畫在 2012 年賣了 1.2 億美元。難怪畫裡的人在吶喊...

–Max and Max

KEY STORY

India Strikes Pakistan

India said it struck nine “terrorist sites” in Pakistan
印度稱襲擊了巴基斯坦的九個「恐怖份子據點」。

• Two weeks ago, terrorists killed 26 primarily Hindu tourists in India-controlled Kashmir, a region that both India and Pakistan claim. India said Pakistan-backed militants were responsible
  兩週前，恐怖份子在印控克什米爾（印巴爭議地區）殺害 26 人。印度指責是巴基斯坦支持的武裝分子所為。

• On Tuesday, after weeks of tensions, India said it conducted “focused, measured and non-escalatory” strikes on Pakistani terror sites
  經過數週緊張情勢，印度週二表示對巴基斯坦恐怖據點進行了「精準、有限、非升級」的打擊。

• Pakistan’s military subsequently said that it had shot down five Indian jets, and that India’s strikes had killed 26 people. Those claims haven’t yet been independently verified
  巴基斯坦軍方隨後稱擊落五架印度戰機，並指印度襲擊造成 26 人死亡。這些說法尚未獲獨立證實。

Dig Deeper 

• The two nuclear-armed neighbors have fought four wars, but have generally been at peace since 1999
  這兩個擁有核武的鄰國曾爆發四次戰爭，但自 1999 年以來大致維持和平。

• We just got back from Pakistan two weeks ago. If you want to know more about the situation, you can read our free deep-dive
  我們兩週前剛從巴基斯坦回來。想了解更多詳情，可閱讀我們的免費深度分析文章。

KEY STORY

Secession from Canada?

The premier of Alberta, an oil-rich Canadian province, said a vote could be held next year for it to separate from Canada
加拿大石油大省亞伯達省省長表示，明年可能舉行脫離加拿大的投票。

• Canada faces several secession efforts, primarily in Quebec and Alberta. While Quebec’s is rooted in cultural and linguistic differences, Alberta’s is driven by frustration with regulations on the oil industry
  加拿大面臨數個分裂運動，主要在魁北克和亞伯達。魁北克因文化語言差異，亞伯達則不滿石油產業受監管。

• Alberta’s premier said she would call for a referendum on separating from Canada next year. Polling shows that 29% of Albertans and over half of 18- to 34-year-old Albertans support secession
  亞伯達省長說將在明年推動公投。民調顯示 29%亞伯達人支持分裂，18-34 歲年輕人超過一半支持。

• The calls for separation are bolstered by the Liberal Party entering its fourth term in power after Mark Carney’s win over conservative Pierre Poilievre, who had promised to deregulate the oil industry
  自由黨在 Mark Carney（非加拿大現任總理，應為筆誤）贏過承諾放寬石油管制的保守黨 Pierre Poilievre 後取得第四任期，推升了分裂的呼聲。

Dig Deeper

• While Poilievre lost his seat in Ontario, an Alberta member of parliament announced he would give up his seat to let Poilievre run in a by-election to return to parliament
  Poilievre 在安大略省失去議席，一位亞伯達省國會議員讓出議席，讓 Poilievre 能參與補選重返國會。

• The move signals the importance of Alberta to the Conservative movement. The Alberta member of parliament said, “Although it will be hard to temporarily step away from this role,...the mandate given to me is one that clearly states that change is needed. Offering this seat to our Party Leader is an important step in that process”
  此舉顯示亞伯達省對保守黨的重要性。該議員說，儘管暫時卸任很難，但他獲得的授權清楚表明需要改變，讓出議席是重要一步。

QUOTE OF THE DAY

ROCA’S SPONSOR

Forget Politics. Focus on Progress.

Together with Cytonics

While D.C. squabbles, Cytonics is developing the world’s first biologic drug that could actually regenerate cartilage
當華府內鬥不休，Cytonics 正開發全球首款真正能再生軟骨的生物製劑藥物。

• Cable news is full of conflict. But beneath the surface, biotech innovators like Cytonics are focused on something bigger: Progress
  有線新聞充斥衝突。但在表面下，像 Cytonics 這樣的生技創新者正專注於更重要的事：進步。

• We’re developing a drug with the potential to change the standard of care for osteoarthritis – by actually stopping cartilage loss and triggering repair. That’s something no currently approved drug can do
  我們正開發一種藥物，有望改變骨關節炎的治療標準——它能真正阻止軟骨流失並觸發修復。這是目前任何獲批藥物都做不到的。

• This effort is rooted in real-world traction, not rhetoric:
  這項努力根植於實際成效，而非空談：

  • 10,000+ patients treated with our first-gen therapy
    10,000+名患者接受過我們第一代療法的治療

  • 25 patents issued globally
    獲得全球 25 項專利

  • A Phase 1 trial completed with zero serious adverse events
    完成一期臨床試驗，零嚴重不良事件

Dig Deeper

• We’re not a Beltway startup or Wall Street darling – we’re backed by everyday investors who believe that innovation should be democratized
  我們不是華府或華爾街的寵兒——我們由相信創新應普及的普通投資者支持。

• Leave the headlines behind. Invest in what matters
  拋開頭條，投資於真正重要的事

• Invest in a future beyond Washington headlines
  投資一個超越華府頭條的未來

Disclosure: This investment is speculative, illiquid, and involves a high degree of risk, including the possible loss of your entire investment. You may obtain a copy of the offering circular by visiting the SEC’s website
披露：此投資具投機性、流動性差、風險高，可能損失全部投資。您可前往 SEC 網站獲取發行說明書副本。

KEY STORY

Houthi Strikes End

President Trump claimed that the Yemen’s Houthi militants had surrendered and that the US would end airstrikes against them
川普總統聲稱也門胡塞武裝已經投降，美國將停止對他們的空襲

• Since March, the US has carried out over 1,000 strikes against the Houthis, an Iran-linked militant group that controls much of Yemen, in response to Houthi attacks on ships in the Red Sea
  自 3 月以來，美國對胡塞武裝進行了 1000 多次襲擊，胡塞武裝是一個與伊朗有關的武裝組織，控制著也門大部分地區，以回應胡塞武裝在紅海襲擊船隻

• On Tuesday, Trump claimed that the Houthis had “capitulated,” saying, “We will stop the bombings...we will take their word that they will not be blowing up ships anymore”
  特朗普週二聲稱胡塞武裝已投降，並表示美國將停止轟炸，因為胡塞承諾不再攻擊船隻。

• While the Houthis denied Trump’s claims, with one leader accusing him of “lying,” a spokesperson for Oman, an intermediary between the US and Houthis, said that a ceasefire had been reached
  胡塞武裝否認特朗普說法並稱他撒謊，但居中協調的阿曼表示已達成停火協議。

Dig Deeper 

• While the US may now stop bombing the Houthis, Israel is intensifying its own campaign against them
  美國可能停轟炸，但以色列正加強對胡塞的行動。

• On Sunday, a Houthi missile struck near Israel’s main airport, delaying flights and causing injuries
  週日，胡塞飛彈擊中以色列主要機場附近，導致航班延誤並有人受傷。

• On Tuesday, Israeli bombed Yemen’s main airport, in the capital, Sana’a, reportedly disabling it
  週二，以色列轟炸葉門首都沙那的主要機場，據報機場已癱瘓。

• The Houthis are closely aligned with and financed by Iran, Israel’s primary regional enemy, and are one of the key militant groups in Iran’s proxy network that includes Hezbollah and Hamas
  胡塞武裝與以色列的頭號敵人伊朗關係密切並受其金援，是伊朗代理人網絡（包括真主黨和哈瑪斯）的關鍵武裝團體之一。

KEY STORY

Research Funding Halted

President Trump signed an order restricting funding for gain-of-function (GoF) research, citing risks of disease leaks
川普總統下令限制提供 GoF 研究經費，理由是擔心疾病可能外洩

• GoF research involves altering a pathogen’s transmissibility or host range to study its behavior, evolution, and potential impact
  GoF 研究改變病原體傳播或宿主範圍，以研究其行為、演化和影響

• On Monday, the White House ordered a $17B cut to the National Institutes of Health (NIH), alleging the agency failed to properly monitor GoF research, and halted research funding in countries with inadequate oversight
  週一，白宮下令削減國家衛生研究院 (NIH) 170 億美元經費，指控其未妥善監督 GoF 研究。同時，白宮也停止對監督不足國家的研究撥款

• Many in the Trump Administration – and some Democrats – have suggested that an NIH-funded NGO may have played a role in causing the pandemic
  川普政府許多人和部分民主黨人認為，由 NIH 資助的非政府組織可能導致了疫情

Dig Deeper

• Since 2020, questions have emerged about whether EcoHealth Alliance, an American NGO with NIH funding, engaged in GoF research on bat coronaviruses at the Wuhan lab that could have triggered the pandemic
  自 2020 年起，關於獲 NIH 資助的美國組織 EcoHealth Alliance 是否在武漢實驗室進行了可能引發大流行的蝙蝠冠狀病毒功能增益研究，出現了質疑

• While EcoHealth Alliance has denied those claims and maintained that it followed all NIH protocols, the Biden Administration last year suspended all federal funding to it over alleged citing failures in oversight and reporting
  雖然生態健康聯盟否認指控並稱遵循 NIH 規範，但拜登政府去年因被控監管與報告失職，暫停對其聯邦撥款

• Supporters of GoF research argue that it helps discover how infectious diseases become more transmissible or make people sicker. It has had success in developing vaccines for polio, HIV, bird flu, and other diseases
  支持者稱，功能增益研究能找出傳染病如何傳播及加重病情，並成功協助開發小兒麻痺、愛滋病、禽流感等疫苗。

• However, many people – including influential voices in the Trump Administration – believe it may have triggered the Covid pandemic and could trigger others in the future
  但許多人（包括川普政府中有影響力的人）認為，這研究可能引發了新冠疫情，未來也可能引發其他疫情。

RUNDOWN
Some Quick Stories for the Office

🪪 After years of delays, the law requiring a Real ID-compliant ID to fly will take effect on Wednesday
🪪 經過多年延宕，搭機需使用符合 Real ID 規定的證件，此法規將於週三生效。

🏫 The Trump Administration announced that Harvard will not be allowed to receive federal grants, escalating the government’s battle with the university
🏫 川普政府宣布哈佛大學不得再獲得聯邦補助，此舉升高了政府與該校的衝突。

🇩🇪 Friedrich Merz was confirmed as Germany’s new leader
弗里德里希·梅爾茨獲確認為德國新領導人

🇨🇦 Canadian Prime Minister Mark Carney met with President Trump at the White House for the first meeting since his party’s victory last week
加拿大總理馬克·卡尼在白宮與川普總統會面，這是他所屬政黨上週勝選後的首次會面。

⚧️ The Supreme Court reinstated the Trump Administration’s ban on transgender servicemembers in the military, with all three liberal justices dissenting
最高法院恢復川普政府禁止跨性別者在軍隊服役的禁令，三位自由派大法官表示異議。

What does Roca Nation think?

🧠 Yesterday’s Question: Do you feel bad for the jocks who were on top of the world in high school and then fell off?
你會同情那些高中時很風光、後來卻沒落的體育生嗎？

🧐 Today’s Question: Which president from the last 50 years would you most want to get a beer with? Why?
今日問題：近 50 年來，你最想和哪位總統一起喝啤酒？為什麼？

Replay to this email with your thoughts!
回覆此郵件分享你的想法！

POPCORN
Some Quick Stories for Happy Hour

⚾ First Steps Forward: A 20-year-old man who fell from the stands at a Pittsburgh Pirates baseball game took his first steps since the accident
一名 20 歲男子在海盜隊棒球賽從看台跌落，事後首度邁開腳步。

🏈 Field to Court: A fan of Cleveland Browns rookie quarterback Shedeur Sanders sued the NFL for $100M over the “emotional distress” caused by Sanders’ slide from a projected first-round pick to the fifth
一名克里夫蘭布朗隊球員的球迷，因球員選秀順位下滑感到「精神痛苦」，向 NFL 求償一億美元。

🐍 Snake-Bite Superhero: A man in Wisconsin who has let venomous snakes bite him hundreds of times is being credited for catalyzing the discovery of a universal antivenom
威斯康辛州有位「蛇咬超級英雄」，他讓毒蛇咬了數百次，助於發現通用蛇毒血清

🦅 Middle-Earth Eviction: A giant sculpture of the Lord of the Rings character Gandalf riding an eagle has been removed from a New Zealand airport after ten years, ending the commemoration of the country’s relationship with the franchise
🦅 中土世界驅逐：《魔戒》角色甘道夫騎著鷹的巨型雕塑在新西蘭機場展出十年後被撤走，結束了該國與該系列電影關係的紀念活動

🫏 Donkey Derby: Backcountry runners in New Mexico took part in a tradition of “Burro Racing,” or donkey racing, a competition in which runners lead donkeys by rope along miles-long backcountry courses
在新墨西哥州，鄉間跑者參加傳統的「驢子賽跑」比賽。他們用繩子牽引驢子，在長距離鄉間賽道上奔跑

ROCA WRAP
The Rock Returns

San Francisco, California
舊金山，加州

President Trump proposed reopening Alcatraz, an iconic island prison-turned-tourist destination, in this city.
川普總統提議重開這個城市裡曾是監獄、現為景點的惡魔島。

Before it was closed in 1963, Alcatraz, known as “The Rock,” housed some of the most infamous 20th-century gangsters, including Al Capone and “Machine Gun” Kelly. The prison, located in the middle of the San Francisco Bay, was among the most secure penitentiaries, as its island location, frigid waters, and strong currents made escape difficult. No escapes were ever officially recorded.
惡魔島，又稱「巨岩」，於 1963 年關閉。這座監獄位於舊金山灣中央，曾關押卡彭等惡名昭彰的罪犯。由於是島嶼，周圍海水冰冷且水流湍急，逃脫極為困難，因此是戒備最森嚴的監獄之一。官方從未記錄到有人成功越獄。

In 1963, the prison was shuttered when it became too costly to operate, since all prison supplies had to be brought to the island by boat. According to the US Bureau of Prisons, Alcatraz was roughly three times more expensive to run than any other federal prison. 
1963 年，由於所有監獄物資都必須透過船運到島上，監獄運作成本過高，因此被關閉。據美國監獄管理局稱，惡魔島的運作成本大約是其他任何聯邦監獄的三倍。

In 1972, it was converted into a tourist site. It is now operated by the National Parks Service as a museum and one of San Francisco’s most popular tourist attractions, with 1.2M+ visitors each year. 
1972 年改為觀光景點。現由國家公園管理局營運為博物館，是舊金山最熱門的景點之一，每年吸引超過 120 萬遊客。

On Monday, President Trump announced his intent to “REBUILD, AND OPEN ALCATRAZ!” He wrote on Truth Social, “When we were a more serious Nation, in times past, we did not hesitate to lock up the most dangerous criminals, and keep them far away.” 
星期一，川普總統在社群媒體宣布要「重建並重啟惡魔島！」他說，過去嚴肅的國家會毫不猶豫地關押最危險的罪犯，讓他們離得遠遠的。

He added, “Today, I am directing the Bureau of Prisons, together with the Department of Justice, FBI, and Homeland Security, to reopen a substantially enlarged and rebuilt ALCATRAZ.”
他補充說，他已指示監獄管理局、司法部、聯邦調查局和國土安全部，重啟一個大幅擴建和重建的惡魔島。

Speaking to reporters after making his announcement, Trump said that he had the idea to reopen Alcatraz because “it's a symbol of law and order.” 
川普在宣布後告訴記者，他之所以有重啟惡魔島的想法，是因為它是「法律和秩序的象徵」。

It’s unclear if the plan is realistic, given the cost of modernizing it and its role in San Francisco’s tourist economy. Rep. Nancy Pelosi (D.), who represents San Francisco, said, “[Alcatraz] is now a very popular national park and major tourist attraction. The President’s proposal is not a serious one.”
然而，該計畫是否可行仍不清楚，考量到現代化成本及其在舊金山旅遊經濟中的作用。舊金山眾議員裴洛西表示，惡魔島現在是很受歡迎的國家公園和主要旅遊景點，總統的提議並不嚴肅。

However, the new director of the Bureau of Prisons took a different tone: “I have ordered an immediate assessment to determine our needs and the next steps. USP Alcatraz has a rich history. We look forward to restoring this powerful symbol of law, order, and justice.”
然而，監獄管理局新任局長的語氣不同：他已下令立即評估需求及下一步措施。他說，惡魔島監獄歷史悠久，期待恢復這個象徵法律、秩序與正義的重要標誌。

EDITOR’S NOTE
Final Thoughts

A special shoutout to Roca reader John O’Neill, a resident of the great city of Norwalk, CT, who generously showed us around Connecticut’s famously wealthy Fairfield County. It turns out, however, that there’s much more to the story there, and he helped arrange a meeting with Norwalk’s mayor and more. Donovan’s in Norwalk also now holds the title for best clam chowder we’ve had on a Roca roadtrip. We have the best community of readers out there. Thank you, John!
感謝 Roca 讀者 John O’Neill，他住在康州諾沃克市。他慷慨地帶我們參觀費爾菲爾德縣，並幫忙安排會見諾沃克市長。諾沃克的 Donovan's 餐廳有我們 Roca 旅程中喝過最棒的蛤蜊巧達湯。謝謝你，John！我們有最棒的讀者群。

–Max and Max