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Working doc on 2025-05-25 cap table. Open questions inline.

Related: 2025-05-09 deck, 2024-01-09 convertible note.

Cross-section thread: private prompt 3258. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.

  • Discovery call → advisor → prompt. Worth a second pass; the discovery call angle keeps coming back.
  • Ship → diligence → thesis. Worth a second pass; the ship angle keeps coming back.
  • Data room → metric → adr. Worth a second pass; the data room angle keeps coming back.
  • Dau → warm intro → lead. Worth a second pass; the DAU angle keeps coming back.

Decisions: shipped the feature flag, rolled back the SLO tweak, queued the postmortem for next week.