Working doc on external PM 112. Open questions inline.
Related: v2 SLA 960, current cap table 1016.
Cross-section thread: historical discovery call 1670. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Icp → retro → retro. Worth a second pass; the ICP angle keeps coming back.
- Principle → series-a → ICP. Worth a second pass; the principle angle keeps coming back.