Sinéad Baker's face on a grey background

The value of cheap weapons in modern war isn’t just the low price

Ukraine’s fight against Russia’s invasion has shown Western militaries the value of cheap weaponry in a large-scale conflict, and the advantages go beyond cost.

Cheap weapons matter because they enable mass. That mass allows militaries to absorb losses, overwhelm defenses, and more.

“We don’t go for mass because it’s cheap,” retired Air Marshal Greg Bagwell, who spent 36 years in the British Royal Air Force and served as its joint warfare director, said. The cheaper it is, the better, he said, but the appeal of massed weaponry “is not just because they’re cheap.” There are operational effects.

Mass allows for failures, losses, and ineffective outcomes. Think cheap quadcopter drones like Ukraine is using to target troops and tanks. Many never reach their target.

Cheap weaponry is often less effective, meaning more is necessary to get the job done, though it is still significantly cheaper than some higher-end capabilities. Thousands of these weapons can be acquired for the cost of only a handful of exquisite systems.

The real value of that mass of low-cost weaponry is that it allows militaries to overwhelm enemy defenses.

“You need to throw enough that you shut down their system and then exploit that gap,” Bagwell said.


A man in green gear holds a large grey drone over his shoulder as he walks through a green field with leaves in the foreground.

Drones are among the cheap weaponry Ukraine is using effectively against Russia. 

GENYA SAVILOV/AFP via Getty Images



Militaries have to balance cost, volume, and effectiveness. “The calculation is one that we’re going to have to continually look at,” he added.

For decades, the West has heavily prioritized smaller quantities of advanced but expensive systems built for precision, not mass.

But Ukraine’s experience against Russia has forced a rethink. In this conflict, both nations are chewing through weapon inventories in a fight that’s defined by extensive use of cheaper weaponry like drones.

Russia’s war against Ukraine has pushed Western militaries to boost their defense spending.

Troels Lund Poulsen, the Danish defense minister, previously told Business Insider that “one of the lessons” from the war in Ukraine was that the West needed far greater quantities of low-cost weaponry to meet the demands of a large-scale, high-intensity war.

Ukraine’s defense industry leaders are making similar observations from their country’s experiences.

Serhiy Goncharov, the CEO of the National Association of Ukrainian Defense Industries — which represents about 100 Ukrainian companies — previously told BI that the West’s longtime focus on a smaller number of exquisite systems would be the wrong approach if it were to find itself in a protracted conflict.

“You don’t need 10 Archers from the Swedish that are probably one of the best artillery systems in the world,” he said, referring to the artillery system made by BAE Systems that Sweden gave to Ukraine. Instead, you need 200 cheap howitzers, such as the Bohdana one that Ukraine makes.




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Billy Joel just sold his Long Island estate for a total of $35 million — $14 million under the original asking price

Billy Joel is moving out.

The main piece of the “Piano Man” singer’s Long Island estate just sold for $28.75 million, Berkshire Hathaway HomeServices Laffey International Realty, the home’s realty company, announced in a post on Instagram earlier this week.

The 26-acre waterfront estate, known as “MiddleSea,” in Centre Island, New York, first went on the market in 2023 after completing a five-year renovation project.

The original asking price for the whole property, which is comprised of four distinct houses, was $49 million. After going on the market in 2023, it was relisted in 2024 with additional renovations.

The estate’s sale was eventually broken into pieces, with the gatehouse selling separately for $7 million last year. This sale, combined with the recent sale of the main house and two adjacent lots, totals $35.7 million, The New York Times reported.

It comes nearly a year after Joel had to step away from performing after being diagnosed with a rare brain disorder. The lifelong New Yorker is making progress, even offering a short surprise performance with a tribute band in January.

His now-former estate, MiddleSea, has quite the backstory. Joel first spotted the waterfront estate as a teenager while harvesting oysters to earn extra money to support his working-class family.

“I’ll never live in a house like that,” he thought to himself at the time, The New York Times reported in 2024.

He was wrong. Joel ended up purchasing the estate in 2002, fulfilling one of his lyrics written more than half a century ago: “I wish that I was back in Oyster Bay / Takin’ it easy, oh yeah.” Forbes reported in 2019 that his net worth was an estimated $52 million.

Take a look inside the waterfront property in Centre Island, New York.

The estate is located in Oyster Bay in the town of Centre Island, New York.

The property spans 26 acres on a waterfront area of Long Island, New York.

Berkshire Hathaway HomeServices/Laffey International Realty

The collection of homes is nestled on 26 acres of pristine Long Island real estate.

Joel nicknamed the property MiddleSea due to its positioning in the middle of the sea, with Oyster Bay on one side and Cold Spring Harbor on the other, The New York Times reported.

He also named the property MiddleSea in honor of his favorite instrument.


an aerial view of billy joel's waterfront estate in new york showing a fountain

The property was named for its spot on Long Island Sound and for a piano key.

Berkshire Hathaway HomeServices/Laffey International Realty

The Times reported that Joel also named the property after “middle C,” the centermost C note on a piano.

“If it’s not for me being able to take piano lessons, I probably would never have been able to afford a high-flying property like this. So, I named it after the first note which I learned on the piano, which was C,” Joel said.

Joel’s property was made up of four distinct homes, which were ultimately sold separately.


an aerial view of billy joel's waterfront estate in new york

The property has four separate homes, plus a maintenance building.

Berkshire Hathaway HomeServices/Laffey International Realty

One problem with selling the home was its high taxes. The annual property tax bill had reached over half a million dollars, The Times reported, diminishing the property’s allure to potential buyers.

The sale was made easier by selling the estate in pieces, and ultimately, the entire property sold for $14 million below the 2023 asking price.

In its entirety, the property is made up of four distinct homes — the main house, the beach house, the guest house, as well as the gate house, which sold last year. A maintenance house also sits on the property.

The property’s main house is a 20,000-square-foot red-brick mansion.


an aerial view of billy joel's waterfront estate in new york

The Main House spans 20,000 square feet.

Berkshire Hathaway HomeServices/Laffey International Realty

The home has five ensuite bedrooms and a primary suite with two full bathrooms and a private balcony that overlooks the water.

The foyer features black-and-white marble tiling, a chandelier, and 30-foot ceilings.


a entry room with black and white checkered floor inside billy joel's waterfront estate in new york

The entryway has tall ceilings and marble floors.

Berkshire Hathaway HomeServices/Laffey International Realty

The grand staircase leading up to the rest of the property is also made from white marble and features an ornate wrought-iron railing.

The main kitchen has two large islands and art deco-style light fixtures.


a kitchen with multiple white marble islands inside billy joel's waterfront estate in new york

The main kitchen has two huge islands.

Berkshire Hathaway HomeServices/Laffey International Realty

The islands are made with Calacatta Caldia Marble.

The kitchen’s appliances are similarly high-end, from the Waterstone faucets and bronze-and-gold farm-style sink to the Officine Gullo Firenze Oven, which can cost upward of $20,000, and Sub-Zero refrigerator.

There’s also a chef’s kitchen with stainless-steel appliances and surround backsplash.


a stainless steel kitchen with high-end appliances inside billy joel's waterfront estate in new york

The chef’s kitchen has stainless steel appliances.

Berkshire Hathaway HomeServices/Laffey International Realty

The chef’s kitchen provides ample space for cooking and accommodating large groups of guests.

The “Scenes From an Italian Restaurant” singer once said he “makes a great pasta” and “it’s probably my favorite food,” Page Six reported.

There’s also a formal dining room with a large white marble fireplace.


a view of the dining room showing the table and chairs inside billy joel's waterfront estate in new york

The dining room features a marble fireplace.

Berkshire Hathaway HomeServices/Laffey International Realty

The formal dining room has large paned windows that overlook the property and crown molding on the ceiling.

The main house’s backyard has a waterfall feature and access to a floating dock and a boat ramp.


an aerial view of billy joel's waterfront estate in new york showing a fountain

The waterfall is placed up a flight of brick stairs.

Berkshire Hathaway HomeServices/Laffey International Realty

The main house’s manicured lawns overlook the water.

The guesthouse has three bedrooms and five bathrooms.


the driveway and car garage inside billy joel's waterfront estate in new york

The guest house has an attached four-car garage.

Berkshire Hathaway HomeServices/Laffey International Realty

The guesthouse is 3,839 square feet, has an attached four-car garage, and was newly renovated before the property was relisted in 2024.

The living room has a fireplace and French doors that overlook the bay.


a living room with fireplace and beige walls inside billy joel's waterfront estate in new york

The guesthouse has a living room with a fireplace.

Berkshire Hathaway HomeServices/Laffey International Realty

The guesthouse is smaller than the main house but features some of the same classic details, like the fireplace and molding around the ceiling.

There’s also a private two-lane bowling alley in the basement.


an indoor bowling alley inside billy joel's waterfront estate in new york

The guesthouse has a bowling alley in the basement.

Berkshire Hathaway HomeServices/Laffey International Realty

There’s a lot of extra space for entertainment, including a large family room over the attached garage.

The gatehouse was sold separately last year for $7 million.


an aerial view of billy joel's waterfront estate in new york

The Gate House has a high-security gate.

Berkshire Hathaway HomeServices/Laffey International Realty

The five-bed, four-bath house is a self-sufficient property. The home has its own driveway, security gate, and swimming pool.

The home has two kitchens, a media room, a screened-in patio, and a first-floor primary ensuite.


a sunny dining room with beige rugs and a table set with beige chairs inside billy joel's waterfront estate in new york

The Gate House has two separate kitchens.

Berkshire Hathaway HomeServices/Laffey International Realty

In addition to its main gourmet kitchen with a Viking oven and Sub-Zero refrigerator, there’s also a chef’s kitchen in the back with its own fireplace.

A stone patio surrounds the free-form heated gunite swimming pool.


a second round outdoor pool at billy joel's waterfront estate in new york

The Gate House has its own free-form swimming pool.

Berkshire Hathaway HomeServices/Laffey International Realty

The Long Island Sound can also be seen from the pool.

The beach house sits on a strip of pristine beachfront.


an aerial view of billy joel's waterfront estate in new york

The beach house leads out to the private dock and the water.

Berkshire Hathaway HomeServices/Laffey International Realty

It has three bedrooms, three bathrooms, an eat-in kitchen, and a large stone patio with pergolas.

Its kitchen features custom Ciuffo cabinetry and Calacatta quartz countertops.


a white kitchen with island and dining room table with chairs inside billy joel's waterfront estate in new york

The kitchen has a large island with a Calacatta quartz countertop.

Berkshire Hathaway HomeServices/Laffey International Realty

Other luxury appliances in the kitchen include a side-by-side Sub-Zero refrigerator, a Wolf oven, and a Miele dishwasher.

The living room has French doors that open onto the beachfront.


a living room with paned windows and a beige couch and blue tufted chairs inside billy joel's waterfront estate in new york

The living room has porcelain tile flooring.

Berkshire Hathaway HomeServices/Laffey International Realty

The home is noticeably more water-friendly than the other properties, thanks to the porcelain tile flooring that makes it easy to transition from indoor to outdoor living.

The house also has its own gunite pool.


an outdoor pool with terra cotta tiles surrounding it at billy joel's waterfront estate in new york

The gunite pool is heated and overlooks the beach.

Berkshire Hathaway HomeServices/Laffey International Realty

A stone’s throw away is a helipad for helicopter arrivals and departures, a floating dock, and over 2,000 feet of waterfront beach.

The maintenance house doubles as a garage that can hold up to six cars.


a separate barn structure painted red with light green doors at billy joel's waterfront estate in new york

The maintenance house can fit six cars.

Berkshire Hathaway HomeServices/Laffey International Realty

The second floor of the maintenance house also has a working office or break room.

Editor’s note: This story was first published in November 2024. It was updated in March 2026 to reflect the sale of the property.




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The oil price spike won’t fix Russia’s strained finances, an analyst says

Oil prices have surged after fresh conflict in the Middle East raised fears of supply disruptions through the Strait of Hormuz — a move that would normally be a windfall for Russia.

But this time, it may not be enough, according to an analyst.

“The current temporary spike, filtered through sanctions discounts and an unfavorable exchange rate, is unlikely to change the fundamental arithmetic,” wrote Alexander Kolyandr, a senior fellow at the Center for European Policy Analysis, in a Wednesday post.

International benchmark Brent crude and US West Texas Intermediate were more than 3% higher, trading around $84 and $77.50 per barrel respectively late on Wednesday. Both grades are around 35% higher this year.

Russia is one of the world’s largest energy exporters, and its federal budget — and by extension President Vladimir Putin’s war in Ukraine — relies heavily on oil and gas revenue.

Yet Moscow does not receive international benchmark prices for its crude. Its Urals oil trades at a sanctions-driven discount, and the strong ruble means each dollar of oil revenue converts into fewer rubles for the budget.

As a result, Brent above $80 does not automatically deliver the revenue Russia needs.

Oil and gas revenues plunged 50% in January from a year earlier, falling to levels last seen during the pandemic shock in 2020. Meanwhile, the federal budget ran a deficit of 1.72 trillion rubles — about 0.7% of GDP, according to Russian Finance Ministry data.

“Unless oil prices stay higher for longer and the ruble weakens significantly, the Kremlin’s budget problems are here to stay,” Kolyandr wrote.

Kolyandr’s analysis comes as investors weigh whether the latest Middle East escalation will trigger a sustained oil shock, particularly for Asian countries that are reliant on heavily reliant on Middle Eastern energy.

China and India — now two of the biggest buyers of Russian crude — still source a large share of their oil from the Middle East, leaving both exposed to disruptions in the Strait of Hormuz.

Any prolonged disruption in the Strait of Hormuz could shift trade flows, potentially increasing scrutiny on whether Asian importers turn further to discounted Russian oil.

Markets have been volatile following the US and Israeli attacks on Iran over the weekend. On Wednesday, stocks in Asia slumped on energy security fears before rebounding on Thursday.




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America’s average gas price saw its largest single-day jump in 4 years

The drive to and from the office just got more expensive.

Prices at the gas pump jumped an average of 11 cents across the US on Tuesday morning, according to AAA. The national price for a gallon of regular gas climbed from $3.00 on Monday to $3.11 on Tuesday, while premium fuel rose from $3.86 to $3.98.

That’s the largest single-day price rise at the pump since March 2022, AAA told Business Insider. Every state except Hawaii experienced Tuesday’s price jump.

It’s also the first time the national average for regular gas has topped $3 a gallon in 2026.

The spike comes as Iran expands attacks in response to bombings by the US and Israel. In recent days, Iran has launched missiles and drones at Israel and at US bases in Bahrain, Iraq, the United Arab Emirates, and Qatar.

Those attacks have rattled oil markets and raised fears of supply disruptions.

On Monday, QatarEnergy throttled production of liquefied natural gas after drone attacks damaged one of its facilities.

Iran has also threatened ships traveling through the 21-mile Strait of Hormuz, where about 20% of the world’s crude oil supply passes through, Patrick De Haan, the head of petroleum analysis at GasBuddy, wrote in a note.

In response, Brent crude oil, the benchmark for global oil pricing, hovered above $80 a barrel on mid-day trading. That’s up about 4% from Monday.

There’s another pressure point for consumers: The summer driving season is about to start.

“Spring weather may be weeks away in much of the country, but the seasonal rise in gas prices is underway,” AAA wrote last Thursday. “Gas demand is also expected to increase next month as spring break season kicks off and more drivers take road trips.”

Higher demand, combined with fears of supply disruptions, is a historic recipe for rising prices.




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Netflix CEO Ted Sarandos says he bailed on WBD because of the deal’s price, not because of Donald Trump

Did Netflix walk away from Warner Bros. Discovery because of money? Or because of politics?

Money, says Netflix boss Ted Sarandos. Just money.

Sarandos, the streamer’s co-CEO, says Netflix pulled out of the WBD bidding war — ultimately won by Larry and David Ellison’s Paramount — because Netflix didn’t want to raise the price it would pay for WBD’s studio and HBO business.

The fact that the proposed Netflix/WBD deal was getting pushback from Republicans in Washington — and other regulators in the US and around the world — was not an issue, Sarandos said in an interview this weekend.

“I still believe in all the positives. I just believed in them up to $27.75 a share,” Sarandos told Bloomberg, referring to the price Netflix originally agreed to pay for WBD’s studio business and HBO unit in December.

I don’t know that Sarandos’ argument will entirely sway those who think the Ellisons’ attempts to court President Donald Trump and other Republicans had an impact on Netflix’s calculus. David Ellison, for example, attended last week’s State of the Union address as the guest of Trump ally Sen. Lindsay Graham.

Adding fuel to those theories: Netflix announced that it was withdrawing from the WBD auction shortly after Sarandos visited the White House on Thursday. But Sarandos says nothing in that meeting had anything to do with his decision. “It was a very productive meeting, nothing out of the ordinary,” he said.

Instead, Sarandos said, Netflix had already decided to bow out earlier that day, as soon as WBD told the company that Paramount’s most recent bid was a “superior proposal.” Just about everyone in the media world expected Netflix to counter that offer with a new one of their own.

But asked repeatedly about what role Trump and any other politician had in his decision, Sarandos insisted that the answer was zero.

“Things have been going exactly the way they should,” he said, arguing that “the president stayed completely neutral on this.”

This is also what Sarandos had said for the last few weeks, when asked if politics and/or Trump’s preferences would influence the deal. That made sense at the time — why complain about politics at the same time you’re trying to woo politicians?

And it may continue to make sense, given that Netflix may end up back in Washington in the future, asking for a sign-off on a different deal. (Sarandos did say it was “unlikely” he would try to buy something else in the next year or so.)

But what about Trump’s interest in the fate of CNN, which is currently owned by WBD, and which will become part of Paramount, assuming the deal closes? Trump had previously announced that it was “imperative that CNN be sold”.

Follow that idea to its logical conclusion, and it would mean that Trump would favor the Paramount bid, since it was for all of WBD, including CNN. The Netflix bid didn’t include the news network or WBD’s other basic cable channels.

“Once it was clear that we weren’t in the CNN business, it was a lot less interesting. He didn’t care that much more about our deal,” Sarandos said.

I wanted to make sure I understood what Sarandos was saying: Was it that once Trump realized Netflix didn’t want to buy CNN, he didn’t support Netflix buying any part of WBD? Or was it that once Trump realized Netflix didn’t want to buy CNN, he became less interested in its outcome, period?

The latter, a Netflix rep told me Sunday.




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