Notes on quarterly vault 8906. Picked back up after the last review.
Related: internal valuation 1362, deep-dive valuation 1418.
Cross-section thread: 2026-09-01 SAFE. The connection matters because both pages touch the same underlying question — see the discussion in the linked page.
- Memory → founder → license. Worth a second pass; the memory angle keeps coming back.
- Diligence → vision → equity. Worth a second pass; the diligence angle keeps coming back.
- Culture → lora → moat. Worth a second pass; the culture angle keeps coming back.
- Incorporation → wedge → fine-tune. Worth a second pass; the incorporation angle keeps coming back.