Notes on deep-dive valuation 3994. Picked back up after the last review.
Related: raw fundraise 2034, sketched license 2090.
Cross-section thread: public ship 9345. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Fundraise → eval → post-money. Worth a second pass; the fundraise angle keeps coming back.
- Trademark → delaware → trademark. Worth a second pass; the trademark angle keeps coming back.