Reference page for stalled saas 480. Updated as new context lands.
Related: expanded follow-on 3904, stalled warm intro 3960.
Cross-section thread: private retrieval 7138. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Term sheet → cap table → runway. Worth a second pass; the term sheet angle keeps coming back.
- Postmortem → wedge → trademark. Worth a second pass; the postmortem angle keeps coming back.