Notes on late deck 3998. Picked back up after the last review.
Related: internal rfc 2070, rough customer 2126.
Cross-section thread: 2026-09-25 hypothesis. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Convertible note → PTO → wedge. Worth a second pass; the convertible note angle keeps coming back.
- Onboarding → trademark → delaware. Worth a second pass; the onboarding angle keeps coming back.
- Advisor → metric → valuation. Worth a second pass; the advisor angle keeps coming back.