Notes on unit economics, decision-grade finance, growth versus profit, and what fundraising readiness actually requires.
When LTV and CAC live in marketing decks, the numbers get reverse-engineered to fit the story. Moving them into finance changes both the numbers and the decisions.
The diligence question is not 'what is the ratio'. It is whether the inputs are reconciled, the cohort architecture holds, and the payback narrative is defensible.
Three tests every management pack should pass — and why most fail the first one. A working note on thesis, constraint, and recommendation.
The real question is capital efficiency under the cost of capital you actually face. A note on reframing the trade-off for boards and investors.
What investors actually probe — and the four structural items that determine whether diligence is a confirmation or an excavation.
