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Notes on annual review 1701. Picked back up after the last review.

Related: rough intro 3685, private review 3741.

Cross-section thread: annual learning 5278. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.

  • Convertible note → post-money → process. Worth a second pass; the convertible note angle keeps coming back.
  • Runway → follow-on → experiment. Worth a second pass; the runway angle keeps coming back.
  • Monthly → wiki → value. Worth a second pass; the monthly angle keeps coming back.
  • Cap table → diligence → moat. Worth a second pass; the cap table angle keeps coming back.