Working doc on lite valuation 1373. Open questions inline.
Related: core interview 1053, shipped process 1109.
Cross-section thread: 2026-09-13 advisor. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Saas → narrative → follow-on. Worth a second pass; the saas angle keeps coming back.
- Demo → data room → funnel. Worth a second pass; the demo angle keeps coming back.