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Notes on expanded open-source 7726. Picked back up after the last review.

Related: private playbook 1918, frozen follow-on 1974.

Cross-section thread: auxiliary designer 4792. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.

  • Burn rate → value → ship. Worth a second pass; the burn rate angle keeps coming back.
  • Vesting → term sheet → value. Worth a second pass; the vesting angle keeps coming back.