/*! tailwindcss v4.2.1 | MIT License | https://tailwindcss.com */
@layer theme{:root,:host{--font-sans:ui-sans-serif, system-ui, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji";--font-mono:ui-monospace, SFMono-Regular, Menlo, Monaco, Consolas, "Liberation Mono", "Courier New", monospace;--spacing:.25rem;--default-font-family:var(--font-sans);--default-mono-font-family:var(--font-mono)}}@layer base{*,:after,:before,::backdrop{box-sizing:border-box;border:0 solid;margin:0;padding:0}::file-selector-button{box-sizing:border-box;border:0 solid;margin:0;padding:0}html,:host{-webkit-text-size-adjust:100%;tab-size:4;line-height:1.5;font-family:var(--default-font-family,ui-sans-serif, system-ui, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol", "Noto Color Emoji");font-feature-settings:var(--default-font-feature-settings,normal);font-variation-settings:var(--default-font-variation-settings,normal);-webkit-tap-highlight-color:transparent}hr{height:0;color:inherit;border-top-width:1px}abbr:where([title]){-webkit-text-decoration:underline dotted;text-decoration:underline dotted}h1,h2,h3,h4,h5,h6{font-size:inherit;font-weight:inherit}a{color:inherit;-webkit-text-decoration:inherit;-webkit-text-decoration:inherit;-webkit-text-decoration:inherit;-webkit-text-decoration:inherit;text-decoration:inherit}b,strong{font-weight:bolder}code,kbd,samp,pre{font-family:var(--default-mono-font-family,ui-monospace, SFMono-Regular, Menlo, Monaco, Consolas, "Liberation Mono", "Courier New", monospace);font-feature-settings:var(--default-mono-font-feature-settings,normal);font-variation-settings:var(--default-mono-font-variation-settings,normal);font-size:1em}small{font-size:80%}sub,sup{vertical-align:baseline;font-size:75%;line-height:0;position:relative}sub{bottom:-.25em}sup{top:-.5em}table{text-indent:0;border-color:inherit;border-collapse:collapse}:-moz-focusring{outline:auto}progress{vertical-align:baseline}summary{display:list-item}ol,ul,menu{list-style:none}img,svg,video,canvas,audio,iframe,embed,object{vertical-align:middle;display:block}img,video{max-width:100%;height:auto}button,input,select,optgroup,textarea{font:inherit;font-feature-settings:inherit;font-variation-settings:inherit;letter-spacing:inherit;color:inherit;opacity:1;background-color:#0000;border-radius:0}::file-selector-button{font:inherit;font-feature-settings:inherit;font-variation-settings:inherit;letter-spacing:inherit;color:inherit;opacity:1;background-color:#0000;border-radius:0}:where(select:is([multiple],[size])) optgroup{font-weight:bolder}:where(select:is([multiple],[size])) optgroup option{padding-inline-start:20px}::file-selector-button{margin-inline-end:4px}::placeholder{opacity:1}@supports (not ((-webkit-appearance:-apple-pay-button))) or (contain-intrinsic-size:1px){::placeholder{color:currentColor}@supports (color:color-mix(in lab, red, red)){::placeholder{color:color-mix(in oklab, currentcolor 50%, transparent)}}}textarea{resize:vertical}::-webkit-search-decoration{-webkit-appearance:none}::-webkit-date-and-time-value{min-height:1lh;text-align:inherit}::-webkit-datetime-edit{display:inline-flex}::-webkit-datetime-edit-fields-wrapper{padding:0}::-webkit-datetime-edit{padding-block:0}::-webkit-datetime-edit-year-field{padding-block:0}::-webkit-datetime-edit-month-field{padding-block:0}::-webkit-datetime-edit-day-field{padding-block:0}::-webkit-datetime-edit-hour-field{padding-block:0}::-webkit-datetime-edit-minute-field{padding-block:0}::-webkit-datetime-edit-second-field{padding-block:0}::-webkit-datetime-edit-millisecond-field{padding-block:0}::-webkit-datetime-edit-meridiem-field{padding-block:0}::-webkit-calendar-picker-indicator{line-height:1}:-moz-ui-invalid{box-shadow:none}button,input:where([type=button],[type=reset],[type=submit]){appearance:button}::file-selector-button{appearance:button}::-webkit-inner-spin-button{height:auto}::-webkit-outer-spin-button{height:auto}[hidden]:where(:not([hidden=until-found])){display:none!important}}@layer components;@layer utilities{.relative{position:relative}.start{inset-inline-start:var(--spacing)}.table{display:table}.table-row{display:table-row}}:root{--paper:#fbfaf6;--ink:#18201b;--muted:#737873;--line:#18201b24;--green:#174d35;--bright:#ff5c3d;--blue:#275fe8;--red:#e14d39;--yellow:#c48c16;--google-green:#278b5b;--display:var(--font-geist-sans), "PingFang SC", "Microsoft YaHei", sans-serif;--mono:var(--font-geist-mono), "SFMono-Regular", Consolas, monospace;--serif:Georgia, "Songti SC", "STSong", serif}*{box-sizing:border-box}html{scroll-behavior:smooth}body{background:var(--paper);color:var(--ink);font-family:var(--display);-webkit-font-smoothing:antialiased;margin:0;font-size:16px;line-height:1.65}a{color:inherit;text-decoration:none}::selection{background:var(--bright);color:var(--ink)}.reading-line{z-index:100;background:linear-gradient(90deg, var(--blue) 0 25%, var(--red) 25% 50%, var(--yellow) 50% 75%, var(--google-green) 75%);height:3px;position:fixed;inset:0 0 auto}.topbar{z-index:50;border-bottom:1px solid var(--line);-webkit-backdrop-filter:blur(18px);backdrop-filter:blur(18px);background:#f4f1e9e6;grid-template-columns:1fr auto 1fr;align-items:center;min-height:66px;padding:0 4vw;display:grid;position:sticky;top:0}.brand{width:fit-content;font-family:var(--mono);letter-spacing:.09em;align-items:center;gap:12px;font-size:11px;font-weight:700;display:inline-flex}.brand-mark{grid-template-columns:repeat(4,5px);align-items:end;gap:2px;height:20px;display:grid}.brand-mark i{background:var(--blue);height:80%;display:block}.brand-mark i:nth-child(2){background:var(--red);height:55%}.brand-mark i:nth-child(3){background:var(--yellow);height:100%}.brand-mark i:nth-child(4){background:var(--google-green);height:70%}.topbar nav{gap:28px;font-size:12px;font-weight:650;display:flex}.topbar nav a{padding:22px 0;position:relative}.topbar nav a:after{background:var(--ink);content:"";height:1px;transition:transform .18s;position:absolute;bottom:16px;left:0;right:0;transform:scaleX(0)}.topbar nav a:hover:after,.topbar nav a:focus-visible:after{transform:scaleX(1)}.as-of{font-family:var(--mono);color:var(--muted);justify-self:end;font-size:11px}.hero{isolation:isolate;color:#f9f7f0;background:#10251d;grid-template-columns:minmax(0,1.65fr) minmax(300px,.65fr);gap:clamp(32px,7vw,110px);min-height:700px;padding:clamp(80px,11vw,150px) 6vw 95px;display:grid;position:relative;overflow:hidden}.hero:after{z-index:-1;content:"";border:1px solid #c9ff6829;border-radius:50%;width:60vw;height:60vw;position:absolute;bottom:-24vw;right:-8vw;box-shadow:0 0 0 8vw #c9ff6806,0 0 0 16vw #c9ff6805}.hero-grid{z-index:-2;opacity:.18;background-image:linear-gradient(#ffffff14 1px,#0000 1px),linear-gradient(90deg,#ffffff14 1px,#0000 1px);background-size:72px 72px;position:absolute;inset:0;-webkit-mask-image:linear-gradient(90deg,#000,#0000 90%);mask-image:linear-gradient(90deg,#000,#0000 90%)}.hero-copy{align-self:center;max-width:980px}.eyebrow,.section-kicker,.card-label{font-family:var(--mono);letter-spacing:.12em;text-transform:uppercase;margin:0 0 24px;font-size:11px;font-weight:700}.hero h1{letter-spacing:-.06em;max-width:980px;margin:0;font-size:clamp(50px,6.1vw,98px);font-weight:580;line-height:.99}.hero h1 em{color:var(--bright);font-family:Georgia,Songti SC,serif;font-weight:400}.hero-lede{color:#ffffffbf;max-width:760px;margin:38px 0 0;font-size:clamp(18px,1.5vw,23px);line-height:1.65}.hero-tags{flex-wrap:wrap;gap:9px;margin-top:38px;display:flex}.hero-tags span{color:#ffffffd1;border:1px solid #fff3;border-radius:999px;padding:8px 13px;font-size:12px}.verdict-card{-webkit-backdrop-filter:blur(14px);backdrop-filter:blur(14px);background:#ffffff12;border:1px solid #ffffff29;border-radius:20px;align-self:end;padding:28px;box-shadow:0 24px 80px #00000029}.card-label{color:#ffffff8f}.verdict-score{border-bottom:1px solid #ffffff26;justify-content:space-between;align-items:end;margin-bottom:32px;padding-bottom:24px;display:flex}.verdict-score span{font-size:14px}.verdict-score strong{color:var(--bright);font-family:Georgia,Songti SC,serif;font-size:46px;font-weight:400;line-height:1}.signal-row{grid-template-columns:76px 1fr 36px;align-items:center;gap:10px;margin:17px 0;font-size:11px;display:grid}.signal-row b{text-align:right}.signal-track{background:#ffffff21;border-radius:99px;height:5px;overflow:hidden}.signal-track i{border-radius:inherit;background:var(--bright);height:100%;display:block}.signal-track.warning i{background:var(--yellow)}.verdict-foot{color:#ffffff94;margin:28px 0 0;font-size:12px;line-height:1.7}.metric-ribbon{border-bottom:1px solid var(--line);grid-template-columns:repeat(4,1fr);display:grid}.metric-card{border-right:1px solid var(--line);min-height:210px;padding:38px 3vw 32px;position:relative}.metric-card:last-child{border-right:0}.metric-dot{background:currentColor;border-radius:50%;width:9px;height:9px;margin-bottom:27px;display:block}.metric-card.blue{color:var(--blue)}.metric-card.red{color:var(--red)}.metric-card.yellow{color:#9d7400}.metric-card.green{color:var(--google-green)}.metric-card strong{letter-spacing:-.055em;font-size:clamp(34px,3.5vw,55px);line-height:1;display:block}.metric-card p{color:var(--ink);margin:16px 0 0;font-weight:700}.metric-card small{color:var(--muted);font-family:var(--mono);font-size:10px}.report-section{border-bottom:1px solid var(--line);padding:clamp(80px,10vw,150px) 6vw}.report-section h2{letter-spacing:-.055em;margin:0;font-size:clamp(38px,5vw,70px);font-weight:580;line-height:1.08}.thesis-split{grid-template-columns:.72fr 1.28fr;gap:8vw;display:grid}.thesis-columns{grid-template-columns:1fr 1fr;gap:16px;display:grid}.thesis-card{border-radius:18px;flex-direction:column;min-height:370px;padding:34px;display:flex}.thesis-card>span{border-radius:99px;width:fit-content;padding:5px 10px;font-size:11px;font-weight:750}.thesis-card h3{letter-spacing:-.04em;margin:auto 0 20px;font-size:clamp(24px,2.3vw,35px);line-height:1.22}.thesis-card p{margin:0;font-size:14px}.thesis-card.answered{background:var(--bright)}.thesis-card.answered>span{background:var(--ink);color:#fff}.thesis-card.unresolved{background:#e3ddd1}.thesis-card.unresolved>span{background:var(--yellow)}.section-head{grid-template-columns:1fr minmax(320px,.65fr);align-items:end;gap:8vw;margin-bottom:64px;display:grid}.section-note{max-width:600px;color:var(--muted);margin:0;font-size:15px}.financial-table{border-top:2px solid var(--ink)}.table-row{border-bottom:1px solid var(--line);grid-template-columns:1.15fr .8fr .55fr 1.5fr;align-items:center;gap:20px;min-height:84px;display:grid}.table-header{min-height:50px;color:var(--muted);font-family:var(--mono);text-transform:uppercase;font-size:10px}.table-row strong{font-size:17px}.table-row>span{font-family:var(--mono)}.table-row>b{color:var(--green);font-family:var(--mono);font-size:14px}.table-row p{color:var(--muted);margin:0;font-size:13px}.search-section{background:#e7e1d5;grid-template-columns:.62fr 1.38fr;gap:8vw;display:grid}.search-number{align-self:start;position:sticky;top:100px}.search-number strong{color:var(--blue);letter-spacing:-.09em;font-size:clamp(90px,13vw,190px);line-height:.85;display:block}.search-number span{margin-top:25px;font-weight:750;display:block}.search-number small{color:var(--muted);font-family:var(--mono);font-size:10px}.search-story h2{font-size:clamp(40px,4.3vw,65px)}.lead{color:#38443f;max-width:800px;margin:35px 0 55px;font-size:19px}.evidence-grid{background:#13251e2e;grid-template-columns:1fr 1fr;gap:1px;display:grid}.evidence-grid article{background:#e7e1d5;min-height:250px;padding:28px}.evidence-grid b{color:var(--blue);letter-spacing:-.05em;font-size:42px;display:block}.evidence-grid span{margin-top:6px;font-weight:700;display:block}.evidence-grid p{color:var(--muted);margin:60px 0 0;font-size:13px}.cloud-section,.watch-section{color:#fff;background:#10251d}.section-head.light .section-note{color:#ffffff91}.cloud-grid{grid-template-columns:.95fr 1.05fr;gap:18px;display:grid}.backlog-card,.cloud-stats article{background:#ffffff0b;border:1px solid #ffffff24;border-radius:18px}.backlog-card{padding:32px}.backlog-ring{aspect-ratio:1;background:conic-gradient(var(--bright) 0 50%, #ffffff1a 50% 100%);border-radius:50%;place-items:center;width:min(100%,470px);margin:0 auto 30px;display:grid}.backlog-ring:before{content:"";position:absolute}.backlog-ring>div{text-align:center;background:#10251d;border-radius:50%;place-content:center;width:74%;height:74%;display:grid}.backlog-ring span{color:#ffffff94;font-family:var(--mono);text-transform:uppercase;font-size:10px}.backlog-ring strong{letter-spacing:-.07em;margin:8px 0;font-size:clamp(54px,7vw,90px);line-height:1;display:block}.backlog-ring small{color:var(--bright);font-family:var(--mono);font-size:11px}.backlog-card>p{color:#ffffff9e;max-width:540px;margin:0 auto;font-size:13px}.cloud-stats{grid-template-columns:1fr 1fr;gap:18px;display:grid}.cloud-stats article{flex-direction:column;min-height:260px;padding:28px;display:flex}.cloud-stats span{color:#ffffff80;font-family:var(--mono);text-transform:uppercase;font-size:10px}.cloud-stats strong{color:var(--bright);letter-spacing:-.07em;margin:auto 0 12px;font-size:clamp(54px,6vw,88px);line-height:1}.cloud-stats small{color:#ffffff9e;font-size:12px}.quality-callout{background:var(--bright);color:var(--ink);border-radius:18px;grid-template-columns:180px 1fr;gap:30px;margin-top:18px;padding:28px 32px;display:grid}.quality-callout span{font-weight:800}.quality-callout p{margin:0;font-size:14px}.capital-grid{grid-template-columns:1.2fr .8fr;gap:20px;display:grid}.cashflow-chart{border:1px solid var(--line);background:repeating-linear-gradient(to bottom, transparent 0, transparent 24%, var(--line) 25%), #ffffff59;border-radius:18px;grid-template-columns:60px repeat(3,1fr);align-items:end;min-height:520px;padding:32px;display:grid}.chart-scale{color:var(--muted);font-family:var(--mono);flex-direction:column;justify-content:space-between;align-self:stretch;padding-bottom:45px;font-size:9px;display:flex}.bar-wrap{flex-direction:column;justify-content:flex-end;align-self:stretch;align-items:center;gap:12px;min-width:0;padding:0 6%;display:flex}.cash-bar{border-radius:9px 9px 0 0;justify-content:center;align-items:flex-start;width:min(100%,130px);min-height:72px;padding-top:14px;display:flex}.cash-bar strong{font-family:var(--mono);font-size:12px}.cash-bar.positive{background:var(--green);color:#fff}.cash-bar.capex{background:var(--yellow)}.cash-bar.negative{background:var(--red);color:#fff;border-radius:0 0 9px 9px}.bar-wrap>span{font-size:12px;font-weight:700}.negative-wrap{transform:translateY(18%)}.capital-facts{grid-template-columns:1fr 1fr;gap:12px;display:grid}.capital-facts article{background:#e4ded2;border-radius:18px;flex-direction:column;min-height:250px;padding:26px;display:flex}.capital-facts span{color:var(--muted);font-size:12px}.capital-facts strong{letter-spacing:-.06em;margin:auto 0 0;font-size:clamp(38px,4vw,62px);line-height:1}.capital-facts p{color:var(--muted);margin:12px 0 0;font-size:11px}blockquote{border:0;border-left:5px solid var(--red);background:#fff;margin:58px 0 0;padding:42px 4vw;font-family:Georgia,Songti SC,serif;font-size:clamp(24px,3vw,42px);line-height:1.45}.signal-list{border-top:2px solid var(--ink)}.signal-list article{border-bottom:1px solid var(--line);grid-template-columns:70px .7fr 1.3fr;align-items:start;gap:30px;padding:34px 0;display:grid}.signal-list article>span{color:var(--green);font-family:var(--mono);font-size:12px}.signal-list h3{letter-spacing:-.025em;margin:0;font-size:23px}.signal-list p{max-width:720px;color:var(--muted);margin:0;font-size:14px}.conclusion-section{background:var(--bright)}.conclusion-grid{grid-template-columns:1fr .85fr;align-items:end;gap:8vw;display:grid}.conclusion-grid h2 em{font-family:Georgia,Songti SC,serif;font-weight:400}.conclusion-grid p{font-size:17px}.proof-grid{grid-template-columns:1fr 1fr;gap:16px;margin-top:70px;display:grid}.proof-grid article{background:#ffffff40;border:1px solid #13251e40;border-radius:18px;padding:32px}.proof-grid span{background:var(--ink);color:#fff;border-radius:99px;padding:5px 10px;font-size:11px;font-weight:750;display:inline-block}.proof-grid ul{margin:28px 0 0;padding-left:1.15em}.proof-grid li{margin:11px 0;font-size:14px}.watch-list{background:#ffffff21;border:1px solid #ffffff21;grid-template-columns:repeat(5,1fr);gap:1px;display:grid}.watch-list article{background:#10251d;flex-direction:column;min-height:330px;padding:26px;display:flex}.watch-list article>span{color:var(--bright);font-family:var(--mono);font-size:11px}.watch-list strong{color:#ffffff85;margin:18px 0 auto;font-size:12px}.watch-list h3{margin:0 0 16px;font-size:21px;line-height:1.3}.watch-list p{color:#ffffff8f;margin:0;font-size:12px}.sources{grid-template-columns:.55fr 1.45fr;gap:8vw;display:grid}.sources h2{font-size:45px}.source-links a{border-top:1px solid var(--line);grid-template-columns:44px 1fr auto;align-items:center;gap:16px;padding:24px 0;transition:padding .18s;display:grid}.source-links a:last-child{border-bottom:1px solid var(--line)}.source-links a:hover,.source-links a:focus-visible{padding-left:10px}.source-links span{color:var(--muted);font-family:var(--mono);font-size:10px}.source-links b{font-size:14px}.source-links em{color:var(--green);font-size:12px;font-style:normal}.disclaimer{max-width:760px;color:var(--muted);grid-column:2;margin:30px 0 0;font-size:11px}footer{color:#ffffffa8;font-family:var(--mono);background:#0a1712;grid-template-columns:1fr auto 1fr;align-items:center;padding:34px 4vw;font-size:10px;display:grid}footer p{margin:0}footer a{color:var(--bright);justify-self:end}@media (width<=1050px){.topbar{grid-template-columns:1fr auto}.topbar nav{display:none}.as-of{grid-column:2}.hero{grid-template-columns:1fr;min-height:auto}.verdict-card{width:min(100%,560px)}.thesis-split,.search-section,.sources{grid-template-columns:1fr}.search-number{position:static}.search-number strong{font-size:120px}.cloud-grid,.capital-grid{grid-template-columns:1fr}.watch-list{grid-template-columns:repeat(2,1fr)}.disclaimer{grid-column:1}}@media (width<=720px){body{font-size:15px}.topbar{min-height:56px;padding:0 20px}.brand{font-size:9px}.hero{gap:54px;padding:76px 22px 54px}.hero h1{font-size:48px;line-height:1.02}.hero-lede{margin-top:28px;font-size:17px}.metric-ribbon{grid-template-columns:1fr 1fr}.metric-card{border-bottom:1px solid var(--line);min-height:180px;padding:28px 22px}.metric-card:nth-child(2){border-right:0}.report-section{padding:76px 22px}.report-section h2{font-size:39px}.thesis-columns,.evidence-grid,.cloud-stats,.capital-facts,.proof-grid,.conclusion-grid{grid-template-columns:1fr}.thesis-card{min-height:320px}.section-head{grid-template-columns:1fr;gap:28px;margin-bottom:45px}.table-row{grid-template-columns:1.2fr .8fr .6fr;gap:10px;min-height:74px}.table-row p,.table-header span:last-child{display:none}.search-number strong{font-size:92px}.evidence-grid article{min-height:210px}.backlog-card{padding:22px}.backlog-ring strong{font-size:52px}.quality-callout{grid-template-columns:1fr;gap:12px;padding:24px}.cashflow-chart{grid-template-columns:42px repeat(3,1fr);min-height:400px;padding:22px 12px}.bar-wrap{padding:0 4px}blockquote{padding:30px 24px;font-size:25px}.signal-list article{grid-template-columns:42px 1fr;gap:15px}.signal-list p{grid-column:2}.watch-list{grid-template-columns:1fr}.watch-list article{min-height:270px}.source-links a{grid-template-columns:35px 1fr}.source-links em{grid-column:2}footer{grid-template-columns:1fr auto;gap:8px}footer p{display:none}}@media (prefers-reduced-motion:reduce){html{scroll-behavior:auto}*,:before,:after{transition-duration:.01ms!important}}@media print{.topbar,.reading-line,footer{display:none}.hero{break-after:page;min-height:0}.report-section{break-inside:avoid}}.site-home{background:var(--paper);min-height:100vh}.site-nav{z-index:20;border-bottom:1px solid var(--line);-webkit-backdrop-filter:blur(18px);backdrop-filter:blur(18px);background:#f4f1e9eb;grid-template-columns:1fr auto 1fr;align-items:center;min-height:74px;padding:0 4vw;display:grid;position:relative}.site-nav nav{gap:32px;font-size:12px;font-weight:680;display:flex}.site-nav nav a{padding:24px 0}.site-nav nav a:hover,.site-nav nav a:focus-visible{color:var(--green)}.site-nav-meta{font-family:var(--mono);color:var(--muted);letter-spacing:.08em;justify-self:end;font-size:10px}.home-hero{isolation:isolate;color:#f9f7f0;background:#10251d;min-height:690px;padding:clamp(90px,12vw,165px) 6vw 90px;position:relative;overflow:hidden}.home-hero:after{z-index:-1;content:"";border:1px solid #c9ff6838;border-radius:50%;width:76vw;height:76vw;position:absolute;bottom:-40vw;right:-18vw;box-shadow:0 0 0 9vw #c9ff6806,0 0 0 18vw #c9ff6805}.home-hero-grid{z-index:-2;opacity:.18;background-image:linear-gradient(#ffffff14 1px,#0000 1px),linear-gradient(90deg,#ffffff14 1px,#0000 1px);background-size:72px 72px;position:absolute;inset:0;-webkit-mask-image:linear-gradient(90deg,#000 12%,#0000 92%);mask-image:linear-gradient(90deg,#000 12%,#0000 92%)}.home-eyebrow{color:var(--bright);font-family:var(--mono);letter-spacing:.13em;margin:0 0 34px;font-size:11px;font-weight:700}.home-hero h1{letter-spacing:-.065em;max-width:1180px;margin:0;font-size:clamp(56px,7.4vw,118px);font-weight:570;line-height:.98}.home-hero h1 span{color:var(--bright);font-family:Georgia,Songti SC,serif;font-weight:400}.home-intro{grid-template-columns:minmax(0,660px) auto;align-items:end;gap:48px;max-width:1050px;margin-top:54px;display:grid}.home-intro p{color:#ffffffb3;margin:0;font-size:clamp(17px,1.45vw,22px)}.home-intro a{border-bottom:1px solid var(--bright);color:var(--bright);font-family:var(--mono);white-space:nowrap;padding-bottom:5px;font-size:11px}.lens-strip{border-bottom:1px solid var(--line);grid-template-columns:repeat(3,1fr);display:grid}.lens-strip article{border-right:1px solid var(--line);min-height:220px;padding:36px 4vw}.lens-strip article:last-child{border-right:0}.lens-strip span{color:var(--muted);font-family:var(--mono);font-size:10px}.lens-strip strong{letter-spacing:-.04em;margin-top:30px;font-size:clamp(22px,2.2vw,34px);display:block}.lens-strip p{max-width:370px;color:var(--muted);margin:12px 0 0}.latest-section{padding:clamp(88px,10vw,150px) 6vw}.latest-heading{grid-template-columns:1.25fr .75fr;align-items:end;gap:8vw;margin-bottom:72px;display:grid}.latest-heading h2{letter-spacing:-.055em;margin:0;font-size:clamp(48px,5.6vw,82px);font-weight:570;line-height:1.02}.latest-heading>p{max-width:520px;color:var(--muted);margin:0 0 8px;font-size:18px}.publication-grid{border-top:1px solid var(--line);border-left:1px solid var(--line);grid-template-columns:repeat(2,1fr);display:grid}.publication-card{border-right:1px solid var(--line);border-bottom:1px solid var(--line);flex-direction:column;min-height:500px;padding:clamp(32px,4vw,58px);transition:background .18s,color .18s,transform .18s;display:flex;position:relative;overflow:hidden}.publication-card:after{content:"";opacity:.12;border:1px solid;border-radius:50%;width:310px;height:310px;position:absolute;bottom:-150px;right:-150px}.publication-card:hover,.publication-card:focus-visible{color:#fff;transform:translateY(-4px)}.publication-card.lime:hover,.publication-card.lime:focus-visible{background:var(--green)}.publication-card.blue:hover,.publication-card.blue:focus-visible{background:#2459ad}.publication-meta,.publication-foot{font-family:var(--mono);letter-spacing:.09em;justify-content:space-between;align-items:center;font-size:10px;display:flex}.publication-meta{color:var(--muted)}.publication-card:hover .publication-meta,.publication-card:focus-visible .publication-meta{color:#ffffffa8}.publication-card>strong{letter-spacing:-.05em;max-width:650px;margin-top:72px;font-size:clamp(32px,3.2vw,54px);font-weight:560;line-height:1.08}.publication-card>p{max-width:590px;color:var(--muted);margin:25px 0 0;font-size:17px}.publication-card:hover>p,.publication-card:focus-visible>p{color:#ffffffbd}.publication-foot{margin-top:auto;padding-top:55px}.publication-foot em{color:var(--green);font-style:normal}.publication-card:hover .publication-foot em,.publication-card:focus-visible .publication-foot em{color:var(--bright)}.home-connection{background:var(--bright);grid-template-columns:1fr 80px 1fr 80px 1fr;align-items:center;padding:78px 6vw;display:grid}.home-connection div{gap:12px;display:grid}.home-connection span{font-family:var(--mono);letter-spacing:.08em;font-size:10px}.home-connection strong{letter-spacing:-.035em;max-width:320px;font-size:clamp(20px,2vw,30px);line-height:1.25}.home-connection i{background:#13251e59;height:1px}.home-footer{color:#ffffffa8;font-family:var(--mono);background:#0a1712;grid-template-columns:1fr auto 1fr;align-items:center;padding:34px 4vw;font-size:10px;display:grid}.home-footer p{margin:0}.home-footer a{color:var(--bright);justify-self:end}.site-disclaimer{color:#ffffff80;font-family:var(--mono);letter-spacing:.04em;text-align:center;background:#07100d;border-top:1px solid #ffffff1c;padding:15px 4vw 17px;font-size:10px}.note-page{background:radial-gradient(circle at 88% 12%, #c9ff681f, transparent 30rem), var(--paper);min-height:100vh}.note-nav{position:sticky;top:0}.note-article{width:min(100%,1180px);margin:0 auto;padding:clamp(72px,9vw,135px) 36px 120px}.note-header{max-width:1020px}.note-type{color:var(--green);font-family:var(--mono);letter-spacing:.12em;margin:0 0 32px;font-size:11px;font-weight:700}.note-header h1{letter-spacing:-.055em;max-width:980px;margin:0;font-family:Georgia,Songti SC,STSong,serif;font-size:clamp(52px,6.7vw,96px);font-weight:500;line-height:1.08}.note-byline{color:var(--muted);font-family:var(--mono);letter-spacing:.06em;flex-wrap:wrap;gap:14px 26px;margin-top:42px;font-size:10px;display:flex}.note-related-top{border-top:1px solid var(--line);border-bottom:1px solid var(--line);grid-template-columns:150px 1fr auto;align-items:center;gap:24px;margin:78px 0 0;padding:24px 0;display:grid}.note-related-top span{font-family:var(--mono);letter-spacing:.09em;font-size:10px;font-weight:700}.note-related-top p{color:var(--muted);margin:0}.note-related-top a{color:var(--green);font-weight:700}.note-body{width:min(100%,900px);margin:90px auto 0}.note-body p,.note-body li{font-family:Georgia,Songti SC,STSong,serif;font-size:clamp(18px,1.55vw,22px);line-height:1.95}.note-lede{margin:0 0 90px;font-size:clamp(23px,2vw,30px)!important;line-height:1.8!important}.note-body section{border-top:1px solid var(--line);grid-template-columns:70px 1fr;gap:32px;padding:64px 0;display:grid}.note-section-number{color:var(--green);font-family:var(--mono);padding-top:8px;font-size:12px;font-weight:700}.note-body h2{letter-spacing:-.05em;margin:0 0 28px;font-size:clamp(34px,3.6vw,52px);font-weight:580;line-height:1.15}.note-body section p{margin:0 0 28px}.note-body section p:last-child{margin-bottom:0}.note-body ul{gap:18px;margin:30px 0 0;padding-left:1.2em;display:grid}.note-body li{padding-left:10px}.note-body li strong{font-family:var(--display);font-size:.85em}.note-body blockquote{color:var(--bright);letter-spacing:-.03em;background:#10251d;border:0;margin:72px 0 0;padding:54px;font-family:Georgia,Songti SC,STSong,serif;font-size:clamp(27px,3vw,43px);line-height:1.55}.note-end{border:1px solid var(--line);color:var(--ink);font-family:var(--display);background:#ffffff40;grid-template-columns:1fr auto;align-items:center;gap:35px;margin-top:85px;padding:36px;display:grid}.note-end div{gap:8px;display:grid}.note-end span{color:var(--muted);font-family:var(--mono);font-size:10px}.note-end strong{font-size:22px}.note-end a{color:var(--green);font-weight:700}.note-site-footer{width:100%}.related-publication{background:var(--bright);grid-template-columns:.65fr 1.35fr;align-items:center;gap:8vw;display:grid}.related-publication h2{margin:0}.related-card{background:#ffffff42;border:1px solid #13251e4d;gap:14px;padding:40px;transition:transform .18s,background .18s;display:grid}.related-card:hover,.related-card:focus-visible{background:#ffffff80;transform:translateY(-3px)}.related-card span,.related-card em{font-family:var(--mono);letter-spacing:.07em;font-size:10px;font-style:normal}.related-card strong{letter-spacing:-.045em;font-size:clamp(26px,2.7vw,42px);line-height:1.15}.related-card p{color:#13251eb8;max-width:650px;margin:0}.related-card em{margin-top:15px;font-weight:700}@media (width<=900px){.site-nav{grid-template-columns:1fr auto}.site-nav nav{display:none}.home-intro,.latest-heading,.related-publication,.lens-strip{grid-template-columns:1fr}.lens-strip article{border-right:0;border-bottom:1px solid var(--line);min-height:auto}.publication-grid{grid-template-columns:1fr}.home-connection{grid-template-columns:1fr;gap:28px}.home-connection i{width:80px}.note-related-top{grid-template-columns:1fr;gap:8px}}@media (width<=640px){.site-nav{min-height:62px;padding:0 20px}.site-nav-meta{font-size:8px}.home-hero{min-height:600px;padding:92px 22px 64px}.home-hero h1{font-size:50px}.home-intro{margin-top:42px}.latest-section{padding:82px 22px}.latest-heading{gap:30px;margin-bottom:48px}.latest-heading h2{font-size:44px}.publication-card{min-height:430px;padding:30px 24px}.publication-card>strong{margin-top:52px;font-size:34px}.home-connection{padding:60px 22px}.home-footer{grid-template-columns:1fr auto;gap:8px;padding:28px 20px}.home-footer p{display:none}.note-article{padding:72px 22px 88px}.note-header h1{font-size:48px}.note-related-top{margin-top:55px}.note-body{margin-top:60px}.note-lede{margin-bottom:64px;font-size:21px!important}.note-body section{grid-template-columns:1fr;gap:16px;padding:48px 0}.note-body p,.note-body li{font-size:18px}.note-body blockquote{padding:34px 28px;font-size:28px}.note-end{grid-template-columns:1fr;padding:28px 24px}.related-card{padding:28px 24px}}.reading-line,.site-nav,.topbar{display:none}.masthead{z-index:30;border-bottom:1px solid var(--line);-webkit-backdrop-filter:blur(16px);backdrop-filter:blur(16px);background:#fbfaf6f0;grid-template-columns:1fr auto 1fr;align-items:center;min-height:76px;padding:0 clamp(22px,5vw,84px);display:grid;position:relative}.masthead-brand{letter-spacing:.02em;align-items:center;gap:11px;width:fit-content;font-size:14px;font-weight:720;display:inline-flex}.masthead-dot{background:var(--bright);border-radius:50%;width:9px;height:9px;box-shadow:0 0 0 5px #ff5c3d1c}.masthead nav{gap:34px;display:flex}.masthead nav a{color:var(--muted);padding:26px 0;font-size:13px;transition:color .16s;position:relative}.masthead nav a:after{background:var(--bright);content:"";height:1px;transition:transform .16s;position:absolute;bottom:20px;left:0;right:0;transform:scaleX(0)}.masthead nav a:hover,.masthead nav a:focus-visible{color:var(--ink)}.masthead nav a:hover:after,.masthead nav a:focus-visible:after{transform:scaleX(1)}.masthead-en{color:var(--muted);font-family:var(--mono);letter-spacing:.13em;justify-self:end;font-size:9px}.quiet-home{min-height:100vh}.slogan-hero{align-content:center;min-height:calc(100vh - 76px);padding:clamp(82px,10vw,150px) clamp(22px,8vw,140px);display:grid}.slogan-label{color:var(--muted);font-family:var(--mono);letter-spacing:.15em;margin:0 0 clamp(34px,5vw,64px);font-size:9px}.slogan-hero h1{max-width:1200px;font-family:var(--serif);letter-spacing:-.055em;margin:0;font-size:clamp(44px,6.6vw,106px);font-weight:450;line-height:1.12;display:grid}.slogan-accent{color:var(--bright)}.home-directory{border-top:1px solid var(--line);border-left:1px solid var(--line);grid-template-columns:repeat(2,1fr);display:grid}.home-directory a{border-right:1px solid var(--line);border-bottom:1px solid var(--line);grid-template-columns:1fr auto;min-height:220px;padding:clamp(28px,4vw,58px);transition:background .16s,color .16s;display:grid}.home-directory a:hover,.home-directory a:focus-visible{background:var(--ink);color:var(--paper)}.home-directory a>span{color:var(--muted);font-size:13px}.home-directory a>strong{letter-spacing:-.055em;grid-column:1/-1;align-self:end;font-size:clamp(34px,4vw,62px);font-weight:520}.home-directory a>em{color:var(--bright);grid-area:1/2;font-size:12px;font-style:normal}.quiet-footer{background:var(--paper);min-height:78px;color:var(--muted);font-family:var(--mono);letter-spacing:.08em;justify-content:space-between;align-items:center;padding:0 clamp(22px,5vw,84px);font-size:9px;display:flex}.quiet-footer a{color:var(--ink)}.site-disclaimer{border-top:1px solid var(--line);background:var(--paper);color:var(--muted);text-align:left;padding:14px clamp(22px,5vw,84px) 16px;font-size:9px}.index-page{min-height:100vh}.index-intro{border-bottom:1px solid var(--line);padding:clamp(80px,10vw,148px) clamp(22px,8vw,140px) clamp(58px,8vw,108px)}.index-intro p{color:var(--bright);font-family:var(--mono);letter-spacing:.13em;margin:0 0 24px;font-size:10px;font-weight:700}.index-intro h1{font-family:var(--serif);letter-spacing:-.07em;margin:0;font-size:clamp(64px,10vw,150px);font-weight:450;line-height:.9}.index-intro>span{color:var(--muted);margin-top:38px;font-size:16px;display:block}.index-list{padding:0 clamp(22px,5vw,84px) 90px}.index-list a{border-bottom:1px solid var(--line);grid-template-columns:130px minmax(0,1fr) 210px auto;align-items:center;gap:26px;padding:36px 0;display:grid}.index-list time,.index-list span,.index-list em{color:var(--muted);font-family:var(--mono);font-size:10px;font-style:normal}.index-list strong{font-family:var(--serif);letter-spacing:-.035em;font-size:clamp(22px,2.5vw,36px);font-weight:500;line-height:1.25}.index-list em{color:var(--bright);white-space:nowrap}.index-list a:hover strong,.index-list a:focus-visible strong{color:var(--bright)}.note-page{background:var(--paper)}.note-article{padding-top:clamp(82px,10vw,145px)}.note-header h1,.note-body p,.note-body li,.note-body blockquote{font-family:var(--serif)}.note-type,.note-section-number,.note-related-top span,.note-byline{color:var(--bright)}.note-related-top{background:0 0}.note-related-top a,.note-end a{color:var(--bright)}.note-body blockquote{border-left:4px solid var(--bright);color:var(--ink);background:#f1eee6}.note-end{background:0 0}.report-jump-nav{z-index:20;border-bottom:1px solid var(--line);color:var(--muted);white-space:nowrap;-webkit-backdrop-filter:blur(14px);backdrop-filter:blur(14px);background:#fbfaf6f0;gap:30px;padding:12px clamp(22px,5vw,84px);font-size:11px;display:flex;position:sticky;top:0;overflow-x:auto}.report-jump-nav a:hover,.report-jump-nav a:focus-visible{color:var(--bright)}.hero{background:var(--paper);min-height:auto;color:var(--ink);padding:clamp(78px,10vw,145px) clamp(22px,8vw,140px) clamp(70px,9vw,120px);display:block}.hero:after{display:none}.hero-copy{max-width:1180px}.eyebrow{color:var(--bright)}.hero h1{max-width:1120px;font-family:var(--serif);letter-spacing:-.06em;font-size:clamp(48px,7vw,104px);font-weight:450;line-height:1.05}.hero h1 em{color:var(--bright);font-family:inherit}.hero-lede{max-width:820px;color:var(--muted);font-size:clamp(17px,1.5vw,21px)}.hero-tags span{border-color:var(--line);color:var(--ink)}.metric-card{min-height:175px}.metric-card.blue,.metric-card.red,.metric-card.yellow,.metric-card.green{color:var(--bright)}.report-section{padding-left:clamp(22px,8vw,140px);padding-right:clamp(22px,8vw,140px)}.report-section h2{font-family:var(--serif);font-weight:450}.section-kicker{color:var(--bright)}.thesis-card,.backlog-card,.cloud-stats article,.quality-callout,.cashflow-chart,.capital-facts article,.related-card{border-radius:3px}.thesis-card.answered,.thesis-card.unresolved{border:1px solid var(--line);background:0 0}.thesis-card.answered>span,.thesis-card.unresolved>span,.proof-grid span{background:var(--bright);color:#fff}.search-section{background:#f4f1e9}.search-number strong,.evidence-grid b{color:var(--bright)}.evidence-grid article{background:#f4f1e9}.cloud-section,.watch-section{background:var(--paper);color:var(--ink)}.section-head.light .section-kicker,.cloud-section .section-kicker,.watch-section .section-kicker{color:var(--bright)}.section-head.light .section-note,.backlog-card>p,.cloud-stats small,.watch-list p,.watch-list strong{color:var(--muted)}.backlog-card,.cloud-stats article{border-color:var(--line);background:0 0}.backlog-ring{background:conic-gradient(var(--bright) 0 50%, #ebe7de 50% 100%)}.backlog-ring>div{background:var(--paper)}.backlog-ring span{color:var(--muted)}.backlog-ring small,.cloud-stats strong{color:var(--bright)}.quality-callout{border:1px solid var(--line);background:0 0}.watch-list{border-color:var(--line);background:var(--line)}.watch-list article{background:var(--paper)}.watch-list article>span{color:var(--bright)}.watch-list h3{color:var(--ink)}.related-publication{background:#f4f1e9}.related-card em,.source-links em{color:var(--bright)}.report-footer{background:var(--ink)}.report-footer a{color:#fff}@media (width<=800px){.masthead{grid-template-columns:1fr auto;min-height:66px}.masthead nav{gap:22px}.masthead-en{display:none}.slogan-hero{min-height:calc(100vh - 66px)}.home-directory{grid-template-columns:1fr}.home-directory a{min-height:185px}.index-list a{grid-template-columns:90px 1fr auto;gap:16px}.index-list span{display:none}.metric-ribbon{grid-template-columns:repeat(2,1fr)}.report-jump-nav{top:0}}@media (width<=520px){.masthead{padding:0 18px}.masthead-brand{font-size:13px}.masthead nav{gap:18px}.slogan-hero{padding:80px 22px}.slogan-hero h1{font-size:44px;line-height:1.18}.home-directory a{grid-template-columns:1fr}.home-directory a>em{grid-area:auto/1;margin-top:25px}.quiet-footer{min-height:66px;padding:0 22px}.index-list a{grid-template-columns:1fr auto;padding:28px 0}.index-list time{grid-column:1/-1}.index-list strong{font-size:23px}.report-jump-nav{padding-left:18px;padding-right:18px}.hero{padding:72px 22px 62px}.hero h1{font-size:47px}}