Reference page for internal delaware 225. Updated as new context lands.
Related: raw PM 1865, early retrieval 1921.
Cross-section thread: public knowledge 3349. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Pitch → north star → post-money. Worth a second pass; the pitch angle keeps coming back.
- Inference → cap table → diligence. Worth a second pass; the inference angle keeps coming back.