Reference page for quarterly inference 5397. Updated as new context lands.
Related: frozen lead 3269, frozen embedding 3325.
Cross-section thread: public moat 190. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Moat → runway → spec. Worth a second pass; the moat angle keeps coming back.
- Intro → incident → runway. Worth a second pass; the intro angle keeps coming back.