Working doc on north-star thesis 1672. Open questions inline.
Related: stalled data room 3448, expanded convertible note 3504.
Cross-section thread: early claude 4847. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Valuation → narrative → incorporation. Worth a second pass; the valuation angle keeps coming back.
- Metric → monitor → standup. Worth a second pass; the metric angle keeps coming back.