@charset "UTF-8";

:root {
  --paper: #f3f1ea;
  --surface: #fbfaf6;
  --ink: #202c29;
  --muted: #69716a;
  --line: #d8dcd1;
  --line-dark: #bac3b6;
  --anthropic: #ae583d;
  --anthropic-light: #f4e8df;
  --openai: #216859;
  --openai-light: #e5eee7;
  --accent: var(--anthropic);
  --accent-light: var(--anthropic-light);
  --error: #9b392f;
  --serif: Georgia, "Times New Roman", serif;
  --sans: Inter, "Aptos", "Segoe UI", -apple-system, BlinkMacSystemFont, Arial, sans-serif;
  --mono: "SFMono-Regular", Consolas, "Liberation Mono", monospace;
}

*, *::before, *::after { box-sizing: border-box; }
html { scroll-behavior: smooth; scroll-padding-top: 24px; }
body { margin: 0; color: var(--ink); background: var(--paper); font-family: var(--sans); font-size: 14px; line-height: 1.55; -webkit-font-smoothing: antialiased; }
button, input, select { font: inherit; }
button, a, input, select, summary { -webkit-tap-highlight-color: transparent; }
button, summary { cursor: pointer; }
button { color: inherit; }
a { color: inherit; text-decoration-thickness: 1px; text-underline-offset: 3px; }
a:hover { color: var(--anthropic); }
button:disabled { cursor: not-allowed; opacity: .48; }
button:focus-visible, a:focus-visible, input:focus-visible, select:focus-visible, summary:focus-visible, [tabindex]:focus-visible { outline: 3px solid #548976; outline-offset: 4px; }
input:focus-visible, select:focus-visible { outline-offset: 2px; }
h1, h2, h3, p { margin: 0; }
h1, h2, h3 { font-weight: 500; }
svg { display: block; }
[hidden] { display: none !important; }
.sr-only { position: absolute; width: 1px; height: 1px; padding: 0; margin: -1px; overflow: hidden; clip: rect(0,0,0,0); white-space: nowrap; border: 0; }
.skip-link { position: fixed; top: -70px; left: 16px; z-index: 100; padding: 12px 18px; color: white; background: var(--ink); }
.skip-link:focus { top: 12px; }
.page-shell { max-width: 1360px; padding: 0 48px; margin: 0 auto; }
.site-header { border-bottom: 1px solid var(--line); }
.header-inner { max-width: 1456px; padding: 21px 48px; margin: 0 auto; display: flex; align-items: center; justify-content: space-between; gap: 25px; }
.brand { display: inline-flex; align-items: center; gap: 13px; text-decoration: none; font-size: 17px; font-weight: 650; letter-spacing: -.45px; white-space: nowrap; }
.brand:hover { color: var(--ink); }
.brand-mark { width: 33px; height: 33px; }
.brand-light { font-weight: 400; }
.header-links { display: flex; align-items: center; gap: 27px; font-size: 12px; }
.header-links > a { text-decoration: none; }
.header-links > a > span { margin-left: 6px; }
.button { display: inline-flex; justify-content: center; align-items: center; gap: 15px; min-height: 40px; padding: 10px 15px; border: 1px solid transparent; border-radius: 2px; font-size: 12px; line-height: 1.35; font-weight: 550; text-decoration: none; white-space: nowrap; transition: background-color .15s, border-color .15s; }
.button-dark { color: var(--surface); background: var(--ink); }
.button-dark:hover:not(:disabled) { color: white; background: #394b43; }
.button-outline { border-color: var(--line-dark); background: transparent; }
.button-outline:hover:not(:disabled) { background: #e8ece2; border-color: #8b9a89; }
.button-small { min-height: 34px; padding: 8px 13px; }
.text-button { display: inline-flex; align-items: center; justify-content: center; gap: 14px; padding: 5px 0; border: 0; background: none; font-size: 12px; font-weight: 550; text-decoration: none; white-space: nowrap; }
.text-button:hover:not(:disabled) { color: var(--accent); text-decoration: underline; text-underline-offset: 3px; }
.eyebrow { font-size: 10px; line-height: 1.5; font-weight: 650; letter-spacing: 1.7px; text-transform: uppercase; }
.small-rule { display: inline-block; width: 23px; height: 2px; margin: 0 10px 3px 0; background: var(--anthropic); }
.eyebrow-separator { color: #a3aba1; margin: 0 11px; }
.hero { display: grid; grid-template-columns: 1fr 290px; gap: 80px; align-items: center; padding: 56px 0 39px; }
.hero h1 { margin: 20px 0 19px; font-family: var(--serif); font-size: clamp(44px, 4.7vw, 65px); font-weight: 400; line-height: 1.04; letter-spacing: -2.6px; }
.hero h1 em, .editorial-heading h2 em { font-weight: 400; color: var(--anthropic); }
.hero-description { max-width: 520px; font-size: 15px; color: #657066; line-height: 1.7; }
.research-note { border-left: 1px solid var(--line-dark); padding: 1px 0 0 25px; }
.research-note .eyebrow { display: flex; justify-content: space-between; color: var(--muted); font-size: 9px; letter-spacing: 1.1px; }
.note-index { color: var(--anthropic); }
.note-heading { margin: 15px 0 10px; font-family: var(--serif); font-size: 26px; line-height: 1.18; letter-spacing: -.6px; }
.research-note > p:not(.note-heading) { font-size: 12px; color: var(--muted); line-height: 1.7; }
.note-meta { display: grid; grid-template-columns: 1fr 1fr; margin-top: 19px; gap: 6px 16px; font-size: 10px; }
.note-meta span { color: var(--muted); }
.note-meta strong { font-weight: 500; text-align: right; }
.section-kicker { display: flex; justify-content: space-between; align-items: center; gap: 20px; margin: 0 0 11px; }
.section-kicker h2 { font-size: 11px; font-weight: 650; letter-spacing: 1.3px; text-transform: uppercase; }
.section-kicker > span { font-size: 10px; color: var(--muted); }
.company-comparison { display: grid; grid-template-columns: 1fr 1fr; background: var(--surface); border: 1px solid var(--line); }
.company-overview { position: relative; padding: 22px 26px 19px; border-top: 3px solid var(--anthropic); }
.company-overview + .company-overview { border-left: 1px solid var(--line); border-top-color: var(--openai); }
.company-heading { display: flex; justify-content: space-between; align-items: center; gap: 15px; }
.company-heading h3 { display: flex; align-items: center; gap: 9px; font-size: 18px; font-weight: 550; letter-spacing: -.4px; }
.company-dot { display: inline-block; flex: 0 0 auto; width: 7px; height: 7px; border-radius: 50%; background: var(--anthropic); }
.company-dot.openai { background: var(--openai); }
.private-tag { color: var(--muted); font-size: 9px; letter-spacing: .7px; text-transform: uppercase; }
.company-values { display: grid; grid-template-columns: 1.2fr 1fr; gap: 22px; align-items: end; padding: 18px 0 17px; }
.company-ev { display: block; font-family: var(--serif); font-size: 43px; line-height: 1.08; letter-spacing: -1.2px; font-variant-numeric: tabular-nums; }
.company-ev small { font-family: var(--sans); font-size: 14px; letter-spacing: 0; color: var(--muted); margin-left: 3px; }
.metric-label { display: block; margin-top: 6px; color: var(--muted); font-size: 10px; line-height: 1.5; }
.financing-value { display: block; font-size: 21px; line-height: 1.2; font-variant-numeric: tabular-nums; letter-spacing: -.4px; }
.financing-value a { text-decoration: none; }
.financing-value a:hover { text-decoration: underline; }
.financing-value small { font-size: 11px; color: var(--muted); letter-spacing: 0; }
.company-footer { display: flex; justify-content: space-between; align-items: center; gap: 16px; padding-top: 12px; border-top: 1px solid #e5e7df; }
.case-range { display: flex; flex-wrap: wrap; column-gap: 13px; row-gap: 3px; color: var(--muted); font-size: 10px; }
.case-range strong { color: var(--ink); margin-left: 3px; font-weight: 550; font-variant-numeric: tabular-nums; }
.company-footer .text-button { font-size: 11px; }
.comparison-footnote { display: flex; gap: 7px; align-items: flex-start; margin: 10px 0 0; color: var(--muted); font-size: 10px; line-height: 1.6; }
.info-dot { border: 1px solid #aab2a7; border-radius: 50%; font-family: var(--serif); font-style: italic; font-size: 9px; width: 12px; height: 12px; flex: 0 0 12px; text-align: center; line-height: 10px; margin-top: 2px; }
.section-navigation { display: flex; justify-content: space-between; align-items: center; gap: 20px; border-bottom: 1px solid var(--line-dark); margin: 37px 0 0; }
.tabs { display: flex; align-items: stretch; gap: 26px; }
.tab { position: relative; padding: 17px 0; background: none; border: 0; color: var(--muted); font-size: 12px; font-weight: 500; }
.tab.is-active { color: var(--ink); }
.tab.is-active::after { content: ""; position: absolute; bottom: -1px; left: 0; right: 0; height: 2px; background: var(--ink); }
.tab:hover { color: var(--ink); }
.tab-number { margin-right: 7px; font-size: 9px; color: #929c90; font-family: var(--mono); }
.model-status { display: inline-flex; align-items: center; gap: 6px; flex-shrink: 0; font-size: 9px; color: var(--muted); }
.status-dot { display: inline-block; flex: 0 0 auto; width: 5px; height: 5px; border-radius: 50%; background: #7c8a79; }
.workspace-heading { display: flex; justify-content: space-between; align-items: center; gap: 20px; padding: 33px 0 22px; }
.workspace-heading .eyebrow { font-size: 9px; color: var(--muted); letter-spacing: 1.4px; margin-bottom: 6px; }
.workspace-heading h2 { font-family: var(--serif); font-size: 29px; letter-spacing: -.7px; }
.segmented-control { display: inline-flex; align-items: center; padding: 3px; border: 1px solid var(--line); border-radius: 3px; background: #ebece4; }
.segmented-control button { display: inline-flex; align-items: center; justify-content: center; gap: 7px; min-height: 30px; padding: 6px 15px; border: 0; border-radius: 2px; color: var(--muted); background: transparent; font-size: 11px; line-height: 1.3; }
.segmented-control button.is-active { background: var(--surface); color: var(--ink); box-shadow: 0 1px 3px #1e332717; }
.segmented-control button:hover:not(.is-active) { color: var(--ink); background: #f2f2eb; }
.company-switch { flex-shrink: 0; }
.workspace-grid { display: grid; grid-template-columns: 276px minmax(0, 1fr); align-items: start; gap: 28px; }
.workspace-grid[data-company="OpenAI"] { --accent: var(--openai); --accent-light: var(--openai-light); }
.assumptions-panel { background: #edeee6; border: 1px solid var(--line); padding: 18px 18px 16px; }
.panel-title-row { display: flex; justify-content: space-between; align-items: center; margin-bottom: 13px; }
.panel-title-row h3 { font-size: 15px; font-weight: 550; }
.case-label { font-size: 9px; color: var(--accent); background: var(--accent-light); padding: 3px 7px; max-width: 135px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap; }
.case-switch { display: flex; padding: 3px; margin-bottom: 21px; border-color: #d8dcd0; background: #e3e7db; }
.case-switch button { flex: 1; }
.case-switch button.is-active { color: var(--accent); }
.assumption-group { border: 0; border-top: 1px solid #d9dfd0; padding: 17px 0 18px; margin: 0; min-width: 0; }
.assumption-group:first-child { padding-top: 0; border-top: 0; }
.assumption-group legend { float: left; padding: 0; width: 100%; margin-bottom: 11px; font-size: 9px; font-weight: 650; letter-spacing: 1.1px; text-transform: uppercase; color: #727c6d; }
.assumption-group legend + * { clear: both; }
.assumption-field-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 12px 11px; }
.assumption-field.is-wide { grid-column: 1 / -1; }
.assumption-field label { display: block; font-size: 10px; font-weight: 500; margin-bottom: 5px; color: #566451; line-height: 1.4; }
.input-wrap { position: relative; display: flex; align-items: center; }
.input-wrap input { padding-right: 29px; width: 100%; }
input:not([type="checkbox"]), select { min-height: 36px; padding: 7px 10px; border: 1px solid #cdd5c5; border-radius: 2px; color: var(--ink); background: var(--surface); font-size: 12px; line-height: 1.5; font-variant-numeric: tabular-nums; width: 100%; min-width: 0; }
input:disabled { color: #7e877b; background: #ebeee6; }
.input-wrap input { padding-right: 25px; }
.input-unit { position: absolute; right: 9px; top: 50%; transform: translateY(-50%); font-size: 10px; color: #7e877a; pointer-events: none; }
.input-wrap .input-prefix { position: absolute; left: 12px; color: var(--muted); font-size: 14px; }
.input-wrap:has(.input-prefix) input { padding-left: 28px; }
input[aria-invalid="true"] { border-color: var(--error); background: #fff4ef; }
.group-hint { margin-top: 9px; color: #73816b; font-size: 9px; line-height: 1.65; }
.assumption-actions { border-top: 1px solid #d9dfd0; padding-top: 14px; }
.assumption-actions .button { width: 100%; min-height: 35px; font-size: 11px; }
.input-errors { padding: 10px; margin-bottom: 14px; border-left: 2px solid var(--error); background: #f7e6df; font-size: 11px; color: #823d32; }
.local-scenarios { border-top: 1px solid #d9dfd0; margin-top: 16px; padding-top: 13px; }
.local-scenarios summary { font-size: 11px; }
.local-scenarios > p { color: var(--muted); font-size: 10px; margin-top: 10px; }
.local-scenarios label { display: block; margin: 12px 0 4px; font-size: 10px; }
.local-scenarios .button { margin-top: 9px; width: 100%; font-size: 10px; min-height: 32px; }
.local-scenarios select { font-size: 10px; }
.local-status:empty { display: none; }
.error-banner { padding: 18px 22px; margin-bottom: 22px; background: #f6e5dd; color: #813629; border: 1px solid #d9ada0; }
.model-results { min-width: 0; }
.valuation-section { border-top: 3px solid var(--accent); border-bottom: 1px solid var(--line); padding: 16px 0 0; }
.results-heading { display: flex; align-items: center; justify-content: space-between; gap: 12px; margin-bottom: 15px; }
.results-heading .eyebrow { font-size: 9px; color: var(--accent); letter-spacing: 1.4px; }
.assumption-tag { padding: 3px 7px; background: #e8ebe1; color: #68765e; font-size: 9px; }
.valuation-summary { display: grid; grid-template-columns: minmax(0, 1fr) 1.4fr; gap: 24px; padding-bottom: 18px; }
.ev-primary-label { display: block; color: var(--muted); font-size: 11px; margin-bottom: 8px; }
.ev-primary { font-family: var(--serif); font-size: clamp(36px, 3.6vw, 53px); line-height: 1; font-variant-numeric: tabular-nums; letter-spacing: -1.7px; white-space: nowrap; }
.ev-primary small { font-size: 14px; font-family: var(--sans); margin-left: 2px; letter-spacing: 0; color: var(--muted); }
.ev-basis { display: block; margin-top: 10px; font-size: 9px; color: var(--muted); }
.valuation-metrics { display: grid; grid-template-columns: 1fr 1fr; gap: 17px 21px; border-left: 1px solid var(--line); padding-left: 22px; }
.valuation-metric span { color: var(--muted); display: block; font-size: 9px; line-height: 1.4; }
.valuation-metric strong { display: block; font-size: 18px; font-weight: 500; line-height: 1.35; margin-top: 3px; font-variant-numeric: tabular-nums; letter-spacing: -.4px; }
.valuation-metric strong small { font-size: 10px; color: var(--muted); font-weight: 400; letter-spacing: 0; }
.model-warnings { padding: 10px 12px; margin: 0 0 15px; color: #796548; background: #eee8d8; font-size: 10px; line-height: 1.65; }
.model-warnings ul { margin: 0; padding-left: 15px; }
.model-warnings li + li { margin-top: 3px; }
.verification-row { display: flex; align-items: center; justify-content: space-between; gap: 14px; padding: 10px 0; border-top: 1px solid var(--line); }
.api-status { display: flex; align-items: baseline; gap: 6px; color: var(--muted); font-size: 9px; line-height: 1.5; }
.api-status.success { color: var(--openai); }
.api-status.success .status-dot { background: var(--openai); }
.api-status.warning .status-dot { background: #b38747; }
.api-status.error { color: var(--error); }
.api-status.error .status-dot { background: var(--error); }
.verification-row .text-button { font-size: 10px; }
.section-heading { display: flex; align-items: center; justify-content: space-between; gap: 15px; margin-bottom: 18px; }
.section-heading h3 { font-family: var(--serif); font-size: 22px; letter-spacing: -.45px; line-height: 1.3; }
.section-heading .eyebrow { margin-bottom: 5px; color: var(--muted); font-size: 8px; letter-spacing: 1.25px; }
.unit-label { font-size: 9px; color: var(--muted); line-height: 1.5; }
.forecast-section { padding: 26px 0 0; }
.chart-switch button { padding: 5px 10px; min-height: 25px; font-size: 9px; }
.chart-topline { display: flex; gap: 31px; margin-bottom: 2px; }
.chart-topline > div { display: flex; gap: 9px; align-items: baseline; }
.chart-topline span { font-size: 9px; color: var(--muted); }
.chart-topline strong { font-size: 13px; font-weight: 550; font-variant-numeric: tabular-nums; }
.chart-container { min-height: 223px; overflow-x: auto; overflow-y: hidden; }
.chart-container svg { width: 100%; min-width: 500px; height: auto; }
.chart-grid-line { stroke: #dfe3d7; stroke-width: 1; }
.chart-zero-line { stroke: #8d9a86; stroke-width: 1; }
.chart-axis-text { fill: #7a8573; font-family: var(--sans); font-size: 10px; font-variant-numeric: tabular-nums; }
.chart-end-text { fill: var(--accent); font-family: var(--sans); font-size: 12px; font-weight: 550; }
.chart-point { fill: var(--surface); stroke: var(--accent); stroke-width: 2; }
.chart-point:hover { r: 5; }
.chart-note { color: var(--muted); font-size: 9px; margin: 1px 0 15px; }
.forecast-details { border-top: 1px solid var(--line); border-bottom: 1px solid var(--line); }
details > summary { list-style: none; position: relative; }
details > summary::-webkit-details-marker { display: none; }
details > summary::before { content: "+"; display: inline-block; margin-right: 9px; width: 11px; text-align: center; font-size: 14px; font-weight: 400; }
details[open] > summary::before { content: "−"; }
.forecast-details > summary, .bridge-section details > summary { display: flex; align-items: center; padding: 14px 0; font-size: 11px; font-weight: 500; }
.forecast-details > summary > span:first-of-type, .bridge-section details > summary > span:first-of-type { flex: 1; }
.summary-hint { color: var(--muted); font-size: 9px; font-weight: 400; padding-left: 15px; }
.table-scroll { overflow-x: auto; }
table { width: 100%; border-collapse: collapse; font-variant-numeric: tabular-nums; }
table caption { text-align: left; font-size: 9px; color: var(--muted); padding: 0 0 9px; }
.forecast-table { min-width: 735px; font-size: 10px; margin: 2px 0 13px; }
.forecast-table th, .forecast-table td { text-align: right; padding: 9px 10px; border-bottom: 1px solid #e1e5d9; white-space: nowrap; }
.forecast-table th:first-child, .forecast-table td:first-child { text-align: left; }
.forecast-table thead th { font-size: 8px; font-weight: 550; color: var(--muted); background: #e8ece1; }
.forecast-table tbody th { font-weight: 550; }
.forecast-table tr:last-child td, .forecast-table tr:last-child th { border-bottom: 0; }
.forecast-table .terminal-row td, .forecast-table .terminal-row th { border-top: 1px solid var(--line-dark); color: var(--accent); background: var(--accent-light); }
.forecast-table .stub-row td, .forecast-table .stub-row th { color: var(--muted); }
.negative { color: #984a37; }
.cashflow-reconciliation { display: grid; grid-template-columns: 1fr 1fr; gap: 5px 18px; max-width: 400px; padding: 13px 0 17px; font-size: 10px; }
.cashflow-reconciliation dt { color: var(--muted); }
.cashflow-reconciliation dd { margin: 0; text-align: right; font-variant-numeric: tabular-nums; }
.cashflow-reconciliation dt:last-of-type, .cashflow-reconciliation dd:last-of-type { border-top: 1px solid var(--line-dark); padding-top: 5px; color: var(--ink); font-weight: 600; }
.sensitivity-section { padding: 26px 0 0; }
.sensitivity-section .section-heading { margin-bottom: 14px; }
.sensitivity-table { min-width: 440px; font-size: 11px; background: var(--surface); }
.sensitivity-table th, .sensitivity-table td { padding: 11px 8px; text-align: center; border: 1px solid var(--paper); }
.sensitivity-table thead th { background: #e7ebdf; color: #617057; font-size: 10px; font-weight: 500; }
.sensitivity-table thead th:first-child { font-size: 8px; letter-spacing: .3px; }
.sensitivity-table tbody th { background: #e7ebdf; color: #617057; font-weight: 500; font-size: 10px; }
.sensitivity-table .current-cell { box-shadow: inset 0 0 0 2px var(--accent); font-weight: 700; color: var(--ink); }
.sensitivity-table .invalid-cell { background: #ebece5; color: #87907f; }
.small-note { margin-top: 10px; font-size: 9px; line-height: 1.7; color: var(--muted); }
.reverse-section { border-top: 1px solid var(--line); margin-top: 27px; padding-top: 25px; }
.outline-tag { padding: 4px 8px; border: 1px solid var(--line-dark); color: var(--muted); font-size: 9px; white-space: nowrap; }
.reverse-section .section-heading { margin-bottom: 11px; }
.section-description { font-size: 11px; line-height: 1.75; color: var(--muted); max-width: 680px; }
.reverse-form { display: flex; align-items: end; gap: 11px; margin-top: 16px; }
.reverse-field { flex: 1; max-width: 360px; }
.reverse-field label { display: flex; justify-content: space-between; gap: 10px; font-size: 10px; margin-bottom: 6px; }
.reverse-field label span { font-size: 9px; color: var(--muted); }
.reverse-form .button { min-height: 40px; font-size: 10px; }
.reverse-field input { min-height: 40px; }
.reverse-output { padding: 16px 18px; margin-top: 15px; background: #e8ede2; font-size: 11px; color: #697760; }
.reverse-output.error { color: #8d4838; background: #f0e6dc; }
.reverse-results { display: grid; grid-template-columns: 1fr 1fr 1fr; gap: 15px; }
.reverse-results span { display: block; font-size: 9px; }
.reverse-results strong { display: block; font-size: 22px; font-weight: 500; line-height: 1.3; margin-top: 3px; color: var(--ink); font-variant-numeric: tabular-nums; }
.reverse-footnote { font-size: 9px; margin-top: 11px; line-height: 1.6; }
.bridge-section { border-top: 1px solid var(--line); border-bottom: 1px solid var(--line); margin-top: 24px; }
.bridge-body { padding: 0 0 18px; }
.checkbox-label { display: flex; align-items: center; gap: 7px; font-size: 10px; margin-top: 13px; }
input[type="checkbox"] { width: 15px; height: 15px; accent-color: var(--accent); }
.bridge-inputs { display: grid; grid-template-columns: 1fr 1fr 1fr; gap: 12px; margin: 16px 0 13px; }
.bridge-inputs label { display: flex; justify-content: space-between; gap: 7px; font-size: 10px; margin-bottom: 5px; }
.bridge-inputs label span { font-size: 9px; color: var(--muted); }
.bridge-output { display: flex; justify-content: space-between; align-items: baseline; gap: 15px; background: #e8ece1; padding: 12px 15px; color: #637458; font-size: 10px; }
.bridge-output strong { color: var(--ink); font-size: 24px; font-family: var(--serif); font-weight: 400; }
.export-bar { display: flex; justify-content: space-between; align-items: center; gap: 15px; padding: 22px 0 0; }
.export-bar strong { font-size: 12px; font-weight: 550; }
.export-bar p { color: var(--muted); font-size: 9px; margin-top: 2px; }
.export-actions { display: flex; gap: 8px; }
.export-actions .button { min-height: 34px; font-size: 10px; gap: 11px; padding: 8px 11px; }
.result-placeholder { padding: 32px 16px; color: var(--muted); font-size: 12px; background: #ecefe5; grid-column: 1 / -1; }
.loading-placeholder { padding: 28px; color: var(--muted); grid-column: 1 / -1; }
.editorial-heading { display: grid; grid-template-columns: 1fr 1fr; align-items: end; gap: 70px; padding: 40px 0 30px; }
.editorial-heading h2 { font-family: var(--serif); font-size: 42px; line-height: 1.12; letter-spacing: -1.4px; margin-top: 13px; }
.editorial-heading > p { max-width: 450px; margin-bottom: 4px; color: var(--muted); font-size: 13px; line-height: 1.9; }
.editorial-heading .eyebrow { color: var(--muted); font-size: 9px; }
.evidence-legend { display: flex; flex-wrap: wrap; gap: 8px; padding-bottom: 26px; border-bottom: 1px solid var(--line); }
.evidence-tag { display: inline-block; border: 1px solid #d2d8c8; padding: 4px 8px; font-size: 9px; color: #6b7762; background: #e8ece0; }
.evidence-tag.assumption { color: var(--anthropic); background: var(--anthropic-light); border-color: #deccbc; }
.company-evidence { display: grid; grid-template-columns: 1fr 1fr; gap: 35px; padding: 28px 0; border-bottom: 1px solid var(--line); }
.evidence-company > h3 { display: flex; align-items: center; gap: 8px; font-size: 22px; margin-bottom: 9px; }
.evidence-description { font-size: 12px; line-height: 1.8; color: var(--muted); margin-bottom: 20px; }
.evidence-subtitle { margin: 18px 0 8px; color: #687561; font-size: 9px; letter-spacing: 1px; font-weight: 650; text-transform: uppercase; }
.evidence-list { list-style: none; padding: 0; margin: 0; }
.evidence-list li { padding: 11px 0; border-top: 1px solid var(--line); font-size: 11px; line-height: 1.8; }
.evidence-list strong { font-weight: 600; }
.evidence-list .evidence-detail { display: block; color: var(--muted); margin-top: 4px; }
.evidence-list .source-link { display: inline-block; margin-left: 5px; font-size: 10px; color: var(--openai); }
.evidence-limits { margin-top: 19px; padding: 13px 15px; background: #e9e9de; font-size: 10px; color: #6d735f; line-height: 1.8; }
.evidence-limits strong { display: block; color: #59674f; font-size: 9px; margin-bottom: 4px; letter-spacing: .7px; text-transform: uppercase; }
.sources-heading { display: flex; justify-content: space-between; align-items: center; margin: 31px 0 15px; }
.sources-heading h3 { font-family: var(--serif); font-size: 27px; letter-spacing: -.6px; }
.source-entry { display: grid; grid-template-columns: 145px 1.3fr 1fr; gap: 30px; padding: 22px 0; border-top: 1px solid var(--line); }
.source-meta time { display: block; font-size: 11px; margin-bottom: 9px; }
.source-meta .evidence-tag { line-height: 1.6; font-size: 8px; padding: 3px 6px; }
.source-publisher { color: var(--muted); font-size: 9px; text-transform: uppercase; letter-spacing: .8px; margin-bottom: 6px; }
.source-entry h4 { margin: 0; font-size: 13px; line-height: 1.65; font-weight: 500; }
.source-entry h4 a { text-decoration: none; }
.source-entry h4 a:hover { text-decoration: underline; }
.source-entry h4 a::after { content: " ↗"; color: var(--muted); }
.source-use { font-size: 10px; color: var(--muted); line-height: 1.8; }
.source-use strong { color: #53624a; font-weight: 550; }
.source-use p + p { margin-top: 7px; }
.source-disclaimer { border-top: 1px solid var(--line); padding-top: 16px; max-width: 850px; }
.methodology-grid { display: grid; grid-template-columns: minmax(0, 1fr) 295px; gap: 58px; }
.method-step { display: flex; align-items: flex-start; gap: 22px; border-top: 1px solid var(--line); padding: 25px 0 27px; }
.step-number { font-family: var(--serif); font-size: 28px; line-height: 1.1; color: #a1aa99; flex: 0 0 35px; }
.method-step h3 { font-size: 16px; font-weight: 550; margin-bottom: 11px; }
.method-step p { color: var(--muted); font-size: 12px; line-height: 1.85; }
.formula { font-family: var(--mono); font-size: 10px; line-height: 2; background: #e8ece1; padding: 12px 15px; border-left: 2px solid #a5b097; margin-top: 15px; overflow-x: auto; }
.method-step .method-caveat { font-size: 10px; margin-top: 11px; color: #7d816c; }
.audit-note { padding: 25px 24px; color: var(--surface); background: var(--ink); }
.audit-note .eyebrow { color: #b5c3af; font-size: 9px; }
.audit-note h3 { font-family: var(--serif); font-size: 27px; line-height: 1.2; margin: 17px 0 13px; letter-spacing: -.4px; }
.audit-note p { color: #bfcbba; font-size: 11px; line-height: 1.9; }
.audit-note .button { width: 100%; font-size: 10px; padding: 11px 9px; margin-top: 23px; background: #f1f0e6; color: var(--ink); white-space: normal; }
.audit-note .button:hover { background: white; }
.audit-note .text-button { color: #cfdbca; font-size: 10px; margin-top: 10px; }
.limits-note { padding: 23px 0; }
.limits-note h3 { font-size: 13px; font-weight: 600; margin-bottom: 12px; }
.limits-note ul { margin: 0; padding: 0 0 0 15px; color: var(--muted); font-size: 10px; line-height: 1.9; }
.limits-note li + li { margin-top: 11px; }
.runtime-note { display: flex; gap: 9px; border-top: 1px solid var(--line); padding-top: 19px; }
.runtime-note > .status-dot { margin-top: 6px; }
.runtime-note strong { font-size: 11px; font-weight: 550; }
.runtime-note p { font-size: 10px; color: var(--muted); line-height: 1.9; margin-top: 7px; }
.closing-note { display: grid; grid-template-columns: 1.1fr 1fr 42px; align-items: center; gap: 45px; margin-top: 65px; padding: 34px 0; border-top: 1px solid var(--line-dark); }
.closing-note .eyebrow { color: var(--muted); font-size: 9px; }
.closing-note h2 { font-family: var(--serif); font-size: 26px; letter-spacing: -.6px; margin-top: 9px; }
.closing-note > p { color: var(--muted); font-size: 11px; line-height: 1.9; }
.closing-note > p a { color: var(--ink); }
.circle-link { width: 42px; height: 42px; display: flex; justify-content: center; align-items: center; border: 1px solid #aab7a1; border-radius: 50%; font-size: 20px; text-decoration: none; }
.circle-link:hover { background: var(--ink); color: var(--paper); border-color: var(--ink); }
.site-footer { border-top: 1px solid var(--line); }
.site-footer > div { display: flex; justify-content: space-between; gap: 24px; max-width: 1360px; padding: 20px 48px; margin: auto; color: #7b8575; font-size: 9px; }
.site-footer > div > span:first-child { color: #48593f; }
.noscript-notice { position: fixed; z-index: 90; bottom: 15px; left: 15px; right: 15px; max-width: 650px; margin: 0 auto; padding: 20px; border: 1px solid #c7b38e; background: #fff8e8; font-size: 13px; }

@media (min-width: 1440px) {
  .header-inner { max-width: 1360px; }
  .hero { grid-template-columns: 1fr 330px; }
  .hero h1 { font-size: 66px; }
  .workspace-grid { grid-template-columns: 286px minmax(0, 1fr); gap: 35px; }
}
@media (max-width: 1150px) {
  .page-shell, .header-inner { padding-left: 32px; padding-right: 32px; }
  .site-footer > div { padding-left: 32px; padding-right: 32px; }
  .header-links { gap: 18px; }
  .hero { gap: 42px; grid-template-columns: 1fr 250px; }
  .hero h1 { font-size: 54px; }
  .workspace-grid { grid-template-columns: 250px minmax(0, 1fr); gap: 23px; }
  .assumptions-panel { padding: 16px; }
  .valuation-summary { gap: 17px; grid-template-columns: 1fr 1.3fr; }
  .valuation-metrics { gap: 15px 13px; padding-left: 16px; }
  .ev-primary { font-size: 40px; }
  .valuation-metric strong { font-size: 17px; }
  .tabs { gap: 20px; }
  .model-status { display: none; }
  .company-overview { padding-left: 20px; padding-right: 20px; }
  .company-values { gap: 15px; }
  .company-ev { font-size: 37px; }
  .company-footer { align-items: flex-end; }
  .case-range { column-gap: 8px; font-size: 9px; }
  .case-range span:last-child { width: 100%; }
  .methodology-grid { grid-template-columns: minmax(0, 1fr) 270px; gap: 35px; }
}
@media (max-width: 900px) {
  .brand { font-size: 15px; gap: 9px; }
  .brand-mark { width: 28px; }
  .header-links { gap: 14px; font-size: 10px; }
  .header-links .button { font-size: 10px; }
  .hero { gap: 30px; grid-template-columns: 1fr 220px; padding-top: 43px; }
  .hero h1 { font-size: 46px; letter-spacing: -1.9px; }
  .hero-description { font-size: 13px; }
  .research-note { padding-left: 19px; }
  .note-heading { font-size: 23px; }
  .research-note .eyebrow { font-size: 8px; }
  .note-index { display: none; }
  .research-note > p:not(.note-heading) { font-size: 11px; }
  .company-values { grid-template-columns: 1fr 1fr; }
  .financing-value { font-size: 18px; }
  .company-ev { font-size: 32px; }
  .metric-label { font-size: 9px; }
  .workspace-grid { grid-template-columns: 218px minmax(0, 1fr); gap: 20px; }
  .assumptions-panel { padding: 14px; }
  .assumption-field-grid { gap: 11px 8px; }
  .assumption-field label { font-size: 9px; }
  .assumption-field input { padding-left: 8px; }
  .valuation-summary { grid-template-columns: 1fr; gap: 20px; }
  .valuation-metrics { border-left: 0; border-top: 1px solid var(--line); padding: 15px 0 0; gap: 14px; }
  .ev-primary { font-size: 48px; }
  .verification-row { align-items: flex-start; }
  .verification-row .text-button { font-size: 9px; }
  .section-heading { align-items: flex-start; }
  .section-heading h3 { font-size: 21px; }
  .forecast-section > .section-heading { flex-wrap: wrap; }
  .chart-topline { flex-wrap: wrap; column-gap: 18px; row-gap: 4px; }
  .reverse-form { flex-direction: column; align-items: stretch; }
  .reverse-field { max-width: none; }
  .reverse-form .button { align-self: flex-start; }
  .export-bar { flex-direction: column; align-items: flex-start; }
  .bridge-inputs { gap: 8px; }
  .bridge-inputs label { display: block; font-size: 9px; }
  .bridge-inputs label span { display: block; font-size: 8px; }
  .editorial-heading { gap: 35px; }
  .editorial-heading h2 { font-size: 35px; }
  .source-entry { gap: 18px; grid-template-columns: 115px 1fr 1fr; }
  .company-evidence { gap: 25px; }
  .methodology-grid { grid-template-columns: 1fr; gap: 20px; }
  .methodology-aside { display: grid; grid-template-columns: 1fr 1fr; gap: 25px; }
  .limits-note { padding: 0; }
  .runtime-note { grid-column: 1 / -1; }
  .closing-note { gap: 25px; grid-template-columns: 1.2fr 1fr 40px; }
  .closing-note h2 { font-size: 22px; }
  .site-footer > div { font-size: 8px; }
}
@media (max-width: 700px) {
  .page-shell, .header-inner { padding-left: 22px; padding-right: 22px; }
  .header-inner { padding-top: 16px; padding-bottom: 16px; gap: 12px; }
  .header-links > a:first-child { display: none; }
  .header-links { gap: 14px; }
  .header-links .button { display: none; }
  .brand { font-size: 14px; }
  .brand-mark { width: 26px; height: 26px; }
  .hero { grid-template-columns: 1fr; gap: 25px; padding: 37px 0 28px; }
  .hero h1 { font-size: clamp(40px, 7.7vw, 53px); margin-top: 19px; letter-spacing: -1.9px; }
  .hero-description { max-width: 400px; }
  .research-note { display: none; }
  .eyebrow { font-size: 9px; }
  .section-kicker { align-items: flex-start; gap: 15px; }
  .section-kicker h2 { font-size: 10px; flex-shrink: 0; }
  .section-kicker > span { text-align: right; font-size: 9px; }
  .company-comparison { grid-template-columns: 1fr 1fr; }
  .company-overview { padding: 16px 14px 12px; }
  .company-heading h3 { font-size: 16px; gap: 6px; }
  .private-tag { display: none; }
  .company-values { grid-template-columns: 1fr; gap: 15px; padding: 15px 0 13px; }
  .company-ev { font-size: 36px; }
  .company-ev small { font-size: 11px; }
  .company-footer { flex-direction: column; align-items: flex-start; gap: 8px; padding-top: 10px; }
  .case-range span { width: 100%; }
  .case-range { row-gap: 1px; }
  .company-footer .text-button { font-size: 10px; gap: 10px; }
  .comparison-footnote { font-size: 9px; }
  .section-navigation { margin-top: 26px; overflow-x: auto; overflow-y: hidden; }
  .tabs { gap: 19px; width: 100%; }
  .tab { font-size: 10px; padding: 15px 0; white-space: nowrap; }
  .tab-number { display: none; }
  .workspace-heading { padding: 28px 0 19px; align-items: flex-start; flex-wrap: wrap; gap: 16px; }
  .workspace-heading h2 { font-size: 27px; }
  .company-switch { margin-left: auto; align-self: end; }
  .company-switch button { padding: 6px 11px; font-size: 10px; }
  .workspace-grid { display: flex; flex-direction: column; gap: 25px; }
  .assumptions-panel { width: 100%; padding: 18px; }
  .assumption-field-grid { grid-template-columns: repeat(4, minmax(0,1fr)); gap: 12px; }
  .assumption-field.is-wide { grid-column: auto; }
  .assumption-field label { font-size: 10px; min-height: 28px; }
  .assumption-group { padding-bottom: 16px; padding-top: 15px; }
  .assumption-group legend { font-size: 9px; margin-bottom: 9px; }
  .assumption-group:last-child .assumption-field-grid { grid-template-columns: repeat(3, minmax(0,1fr)); }
  .case-switch { margin-bottom: 17px; max-width: 300px; }
  .group-hint { font-size: 9px; }
  .assumption-actions { display: inline-block; border: 0; padding: 0; margin-top: 2px; }
  .assumption-actions .button { min-width: 175px; }
  .local-scenarios { margin-top: 15px; }
  .local-scenarios[open] { display: grid; grid-template-columns: 1fr; }
  .local-scenarios label { font-size: 11px; }
  .local-scenarios .button { max-width: 260px; min-height: 36px; }
  .local-scenarios input, .local-scenarios select { max-width: 400px; }
  .model-results { width: 100%; }
  .valuation-summary { grid-template-columns: 1fr 1.3fr; gap: 20px; }
  .valuation-metrics { border-top: 0; border-left: 1px solid var(--line); padding: 0 0 0 18px; gap: 15px; }
  .ev-primary { font-size: 42px; }
  .ev-primary-label { font-size: 10px; }
  .valuation-metric strong { font-size: 18px; }
  .verification-row .text-button { font-size: 10px; }
  .section-heading h3 { font-size: 23px; }
  .forecast-section > .section-heading { flex-wrap: nowrap; }
  .chart-topline span { font-size: 10px; }
  .chart-topline strong { font-size: 13px; }
  .forecast-details > summary, .bridge-section details > summary { font-size: 11px; }
  .sensitivity-table th, .sensitivity-table td { padding: 12px 8px; }
  .reverse-form { flex-direction: row; align-items: flex-end; }
  .reverse-form .button { align-self: end; }
  .reverse-field label { font-size: 10px; }
  .reverse-field label span { display: none; }
  .reverse-output { padding: 17px 16px; }
  .reverse-results strong { font-size: 23px; }
  .export-bar { flex-direction: row; align-items: center; }
  .export-actions .button { font-size: 9px; padding: 9px; gap: 7px; }
  .bridge-inputs label { display: flex; }
  .bridge-inputs label span { display: inline; font-size: 9px; }
  .editorial-heading { grid-template-columns: 1fr; gap: 19px; padding-top: 31px; }
  .editorial-heading h2 { font-size: 39px; }
  .editorial-heading > p { font-size: 12px; }
  .company-evidence { grid-template-columns: 1fr; gap: 28px; }
  .evidence-company + .evidence-company { border-top: 2px solid var(--line-dark); padding-top: 25px; }
  .source-entry { grid-template-columns: 95px 1fr; gap: 15px; }
  .source-use { grid-column: 2; }
  .sources-heading { gap: 15px; align-items: flex-end; }
  .sources-heading h3 { font-size: 24px; }
  .sources-heading .unit-label { text-align: right; }
  .methodology-aside { grid-template-columns: 1fr; }
  .method-step { gap: 14px; }
  .step-number { flex-basis: 30px; font-size: 25px; }
  .method-step h3 { font-size: 15px; }
  .method-step p { font-size: 11px; }
  .formula { font-size: 9px; padding: 11px; }
  .audit-note { max-width: 400px; }
  .limits-note { padding-top: 5px; }
  .limits-note ul { font-size: 11px; }
  .closing-note { margin-top: 45px; grid-template-columns: 1fr 40px; gap: 16px 25px; padding: 28px 0; }
  .closing-note > p { grid-column: 1; grid-row: 2; max-width: 440px; font-size: 10px; }
  .closing-note .circle-link { grid-column: 2; grid-row: 1 / 3; }
  .site-footer > div { flex-wrap: wrap; padding: 18px 22px; gap: 8px 25px; font-size: 8px; }
  .site-footer > div span:nth-child(2) { order: 3; width: 100%; }
}
@media (max-width: 420px) {
  .page-shell, .header-inner { padding-left: 17px; padding-right: 17px; }
  .brand { font-size: 13px; gap: 8px; letter-spacing: -.4px; }
  .brand-mark { width: 24px; }
  .header-links { font-size: 9px; }
  .hero h1 { font-size: 40px; }
  .hero-description { font-size: 12px; }
  .section-kicker { gap: 10px; }
  .section-kicker > span { font-size: 8px; max-width: 150px; }
  .company-overview { padding: 15px 12px 12px; }
  .company-ev { font-size: 31px; }
  .company-ev small { font-size: 10px; }
  .financing-value { font-size: 17px; }
  .tabs { gap: 16px; }
  .tab { font-size: 9px; }
  .workspace-heading h2 { font-size: 26px; }
  .company-switch { margin-left: 0; }
  .assumptions-panel { padding: 16px; }
  .assumption-field-grid { grid-template-columns: 1fr 1fr; gap: 13px; }
  .assumption-field label { min-height: 0; font-size: 11px; }
  .assumption-group:last-child .assumption-field-grid { grid-template-columns: 1fr 1fr; }
  .assumption-group { padding: 18px 0; }
  .assumption-group legend { font-size: 10px; }
  .valuation-summary { grid-template-columns: 1fr; gap: 18px; }
  .valuation-metrics { grid-template-columns: 1fr 1fr; border-left: 0; border-top: 1px solid var(--line); padding: 15px 0 0; }
  .ev-primary { font-size: 53px; }
  .valuation-metric span { font-size: 10px; }
  .valuation-metric strong { font-size: 20px; }
  .api-status { font-size: 9px; }
  .verification-row .text-button { font-size: 9px; }
  .section-heading h3 { font-size: 22px; }
  .forecast-section > .section-heading { flex-wrap: wrap; gap: 13px; }
  .chart-topline { gap: 6px 18px; }
  .chart-topline > div { gap: 6px; }
  .chart-topline span { font-size: 9px; }
  .summary-hint { display: none; }
  .sensitivity-section .section-heading { flex-wrap: wrap; gap: 9px; }
  .small-note, .chart-note { font-size: 10px; }
  .section-description { font-size: 12px; }
  .reverse-form { flex-direction: column; align-items: stretch; }
  .reverse-form .button { align-self: flex-start; font-size: 11px; }
  .reverse-field label { font-size: 11px; }
  .reverse-field label span { display: inline; }
  .reverse-results { gap: 10px; }
  .reverse-results strong { font-size: 20px; }
  .reverse-results span { font-size: 9px; }
  .reverse-footnote { font-size: 10px; }
  .bridge-inputs label { display: block; font-size: 10px; }
  .bridge-inputs label span { display: block; }
  .export-bar { flex-direction: column; align-items: flex-start; }
  .export-actions .button { font-size: 11px; padding: 10px 13px; }
  .source-entry { grid-template-columns: 80px 1fr; gap: 14px; }
  .source-entry h4 { font-size: 12px; }
  .source-meta time { font-size: 10px; }
  .source-meta .evidence-tag { font-size: 8px; }
  .site-footer > div { padding-left: 17px; padding-right: 17px; }
}
@media (prefers-reduced-motion: reduce) {
  html { scroll-behavior: auto; }
  *, *::before, *::after { animation-duration: .01ms !important; transition-duration: .01ms !important; animation-iteration-count: 1 !important; }
}