When a password manager is enough for low-risk wallets and when high-value assets require hardware wallets, bank-grade storage, and multisig controls.

Before a team builds software, it is already designing a system of customers, value, distribution, revenue, cost, and advantage. That system deserves product-level rigor.

The work before stage one is a sequence of decisions: what is true, what must be true, and what evidence would justify committing resources.

A large market and a differentiated feature do not create an advantage. A right to win comes from reinforcing choices competitors cannot easily reproduce.