ESTIMATED VALUE RANGE
Unknown— to —
method / inputs / uncertainty / snapshot
12VALUATION
Valuation is an output of evidence.
The model can use leverage only through demonstrated economic mechanisms — never as a free premium.
BENCHMARK LADDER
1M→10M→100M→1B
reference milestones, never promises
BUSINESS ECONOMICS
revenue / margins / cashflows / retention
PORTFOLIO SURVIVAL
products that continue to create external value
MEASURED COMPOUNDING
lower marginal cost or time after full maintenance cost
HUMAN-INPUT EFFICIENCY
economic value / verified outcomes per founder hour
RELIABILITY + RISK
failures, recovery, recurrence and founder dependency
EVIDENCE UNCERTAINTY
measurement coverage, unknowns and method stability