For investors · Evaluating

A working product shows you what the software can do today. It does not tell you what you are buying.

Technical due diligence should establish whether technical reality supports the investment thesis — not merely whether the demo works and the repository looks active.

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WHAT IS VISIBLE VS. WHAT DETERMINES VALUE Product experience & feature surface Architecture & system boundaries Operational behaviour & dependencies Scaling economics & remediation exposure Increasingly hidden from the demo Investment thesis ⇄ technical reality WHAT IS VISIBLE VS. WHAT DETERMINES VALUE Product experience & feature surface Architecture & system boundaries Operational behaviour & dependencies Scaling economics& remediation exposure Increasingly hidden from the demo Investment thesis ⇄ technical reality

The relevant questions are about durability, control and economics.

AssetIs this a durable technology asset or an advanced prototype?
ArchitectureIs the architecture aligned with the investment thesis and expected scale?
ControlDoes the engineering team understand and control the codebase?
RemediationWhat is likely to require material restructuring after the transaction?
EconomicsWhich technical liabilities can change infrastructure cost or unit economics?
DependencyWhere are the key-person, vendor, AI API and operational dependencies?

The output should help make a transaction decision, not produce the longest findings list.

I inspect enough of the actual system to distinguish material business exposure from ordinary technical imperfection: architecture, critical code paths, data/state ownership, infrastructure, external dependencies, operating behaviour and engineering control.

The resulting assessment is prioritized around the decision: what is robust, what is uncertain, what is fragile, what could change the economics of the investment, and what requires further evidence.

The exact scope and form of the assessment follow the asset, the transaction and the questions that matter to the buyer.

A

Asset durability

Production-grade foundations versus functionality that still depends on prototype assumptions.

E

Scaling economics

Infrastructure shape, operating leverage, vendor/API exposure and non-linear cost behaviour.

R

Remediation exposure

Which weaknesses are local, which are structural and which may materially constrain the post-transaction plan.

D

Dependencies

Key people, proprietary knowledge, external vendors, AI services and operational single points of control.

Independent perspective

Technical diligence is useful when it changes confidence in the investment decision.

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