Notes on rough thesis 8128. Picked back up after the last review.
Related: public rollback 5128, internal model 5184.
Cross-section thread: shipped retention 765. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Infra → SAFE → SAFE. Worth a second pass; the infra angle keeps coming back.
- Retention → embedding → cap table. Worth a second pass; the retention angle keeps coming back.