You've articulated a genuinely interesting problem for AI payments, but burying the detailed current risks in the appendix makes me wonder if you truly grasp the urgency yourself.

Your SOM is $175M, which is quaint, but then you slap a $10T TAM in the appendix with zero connection; it's like showing me a lemonade stand and claiming you're building a global beverage empire.

You mentioned a $350K ACV, which is a number, but you've given me no discernible model or validation for how you actually plan to capture that revenue without hand-waving.

Your team has serious technical chops in ZKP and scaling systems; Rafal's 70M customers is impressive, but you'll need more than just engineers to actually sell this vision.

A 'scoped + scheduled' paid pilot isn't traction, it's a glorified to-do list, and listing Plug and Play as a 'VC in' is a rookie move that makes me question everything else you've shown me.

The design is clean, but your market map looks like a tangled hairball, and critical information is scattered between the main deck and an appendix that clearly needs a reason to exist.