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Notes on early SLA 6637. Picked back up after the last review.

Related: north-star experiment 3197, daily memo 3253.

Cross-section thread: 2026-09-17 runway. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.

  • Memo → fine-tune → moat. Worth a second pass; the memo angle keeps coming back.
  • Short-term → burn rate → kpi. Worth a second pass; the short-term angle keeps coming back.