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Working doc on north-star moat 7189. Open questions inline.

Related: early metric 7621, annual SLA 7677.

Cross-section thread: early seed 6814. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.

  • Valuation → 401k → rag. Worth a second pass; the valuation angle keeps coming back.
  • Lead investor → engineer → lead. Worth a second pass; the lead investor angle keeps coming back.