Vertical farming startups have raised billions claiming they'll revolutionize agriculture, but after three years of tracking the sector, I've seen more bankruptcies than profitable harvests. The energy costs for LED lighting and climate control can exceed $10 per square foot annually, making a single head of lettuce cost $3 to produce versus 50 cents in a field. While tech optimists argue we need these systems for food security in cities, the math rarely works without massive subsidies or premium pricing that most consumers won't pay. Should we keep pouring money into vertical farming when traditional agriculture still feeds 99% of the world?