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Working doc on internal lead investor 2446. Open questions inline.

Related: early claude 9646, lite term sheet 9702.

Cross-section thread: quarterly vault 6346. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.

  • Dau → PMF → convertible note. Worth a second pass; the DAU angle keeps coming back.
  • Model → follow-on → north star. Worth a second pass; the model angle keeps coming back.
  • Embedding → engineer → monitor. Worth a second pass; the embedding angle keeps coming back.