Diligence before conviction
The investor’s job is not to admire coherence. It is to look for the break.
Claim ledger
For every important claim record wording, source, time period, calculation, confidence, and falsifier. “The founder is credible” is not one claim; separate identity, prior artifact, delivery, and outcome.
Evidence ladder
A plan is weaker than a shipped artifact. A self-report is weaker than an independent readback. A market price is evidence of trading, not proof of usefulness or trust.
Questions to ask
What has been built? What changed because of it? Who used it without being prompted? What is the next falsifiable test? Who can stop or correct the allocation?
Do the work
Write five diligence questions that could make you say no. If none can change your decision, you are defending a position.
This lesson is a case-study instrument. It is not individualized financial advice and does not create an offer, security, token, entitlement, or payment obligation.