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Orientation · before the two-layer framework

Context: the thesis and the case against it

The structures-and-mechanisms framework is a tool for a decision that already has a thesis, a business, and a stack of adversarial reviews behind it. This section is the orientation: what the NewCo is, why creator-led distribution is the wedge, and the strongest case that the whole thing does not work — because a proposal you can only see the best version of is not one you can trust.

Context · thesis & red-team
Why this section exists

Read this before the framework, not instead of it. The structures and mechanisms pages assume you already know what is being built and why the compliance constraint is the way it is. This section supplies that: the one-line thesis and the shape of the NewCo, and — equally load-bearing — the four adversarial reviews that were told to kill the plan and the changes that answer them. The framework is downstream of both.

The two pages

Orientation
Thesis
The one-line thesis, what the NewCo is, why creator-led distribution is the wedge, the five things the red-team says kill the draft, and the binding v2 changes that resolve them.
 Risk register
Red-team
The ranked R1–R12 register from four adversarial reviewers, each with its resolution, plus the compliance red-team (46 of 65 findings confirmed). The “what could kill this” page.

Onward

Layer 1
Structures
The 8 entity structures — the adviser/vehicle/eligibility surface the thesis has to run on.
 Layer 2
Mechanisms
The 14 ways to pay creators — where the red-team's "never pay on capital raised" rule becomes concrete.
 Primary law
Sources
The archived statutes and enforcement orders behind the compliance red-team's findings.