Working doc on speculative valuation 8918. Open questions inline.
Related: confirmed SLO 1462, quarterly moat 1518.
Cross-section thread: annual prompt 2501. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Lead investor → review → 401k. Worth a second pass; the lead investor angle keeps coming back.
- Playbook → memex → cohort. Worth a second pass; the playbook angle keeps coming back.