@import url('https://fonts.googleapis.com/css2?family=Barlow+Condensed:wght@500;600;700&family=IBM+Plex+Mono:wght@400;500&family=Inter:wght@400;500;600&display=swap');
:root{--bg:#090b0c;--line:#292d30;--muted:#939a9d;--text:#e9eae7;--accent:#c2cf8e}*{box-sizing:border-box}html{scroll-behavior:smooth;scroll-padding-top:90px}body{margin:0;background:var(--bg);color:var(--text);font-family:Inter,Arial,sans-serif;font-size:16px}a{color:inherit;text-decoration:none}button{font:inherit;color:inherit;cursor:pointer}button,a{-webkit-tap-highlight-color:transparent}button:focus-visible,a:focus-visible{outline:2px solid var(--accent);outline-offset:6px}.mono,.eyebrow,.section-label,nav,#motion,.enter,.study-tags{font-family:'IBM Plex Mono',monospace;font-size:12px;letter-spacing:.07em}.muted{color:var(--muted)}header{height:88px;position:absolute;z-index:5;top:0;left:0;right:0;display:flex;align-items:center;justify-content:space-between;padding:0 4.5%;border-bottom:1px solid var(--line)}.brand{font-weight:600;letter-spacing:.04em;font-size:18px;display:flex;align-items:center;gap:12px}.mark{font-size:26px;line-height:1;transform:rotate(180deg)}.brand-detail{font-family:'IBM Plex Mono',monospace;font-size:12px;color:var(--muted);font-weight:400;margin-left:24px;letter-spacing:.06em}nav{display:flex;gap:36px;text-transform:uppercase;font-size:12px}nav a:hover,footer a:hover{color:var(--accent)}#motion{border:0;background:none;text-transform:uppercase;font-size:12px;color:#aab0b2;padding:10px 0}#motion span{margin-left:12px;color:var(--accent)}.hero{height:max(800px,100svh);min-height:700px;position:relative;overflow:hidden}.hero-top{position:absolute;top:120px;left:4.5%;right:4.5%;display:flex;justify-content:space-between;color:var(--muted);font-size:12px}.hero-title{position:absolute;z-index:2;left:9%;top:28%;pointer-events:none}.eyebrow{font-size:12px;display:flex;gap:9px;align-items:center;color:#c0c5c5}.eyebrow i{width:5px;height:5px;background:var(--accent)}h1{font-size:clamp(100px,15.1vw,240px);font-weight:500;line-height:1.04;letter-spacing:-.075em;margin:14px 0 13px;white-space:nowrap}h1+p{font-family:'IBM Plex Mono',monospace;font-size:clamp(11px,1.15vw,18px);letter-spacing:.27em;margin-left:9px}.hero-bottom{position:absolute;bottom:35px;left:4.5%;right:4.5%;border-top:1px solid #41474a;padding-top:27px;display:flex;align-items:center;justify-content:space-between;gap:25px}.enter{font-size:12px;display:flex;gap:22px;align-items:center}.scroll-icon{width:18px;height:29px;border:1px solid #626b6e;border-radius:12px;position:relative}.scroll-icon:after{content:'';height:6px;width:2px;background:var(--accent);position:absolute;top:6px;left:7px}.hero-bottom p{margin:0;font-size:12px;line-height:1.8;color:#b1b7b7}.coordinates{color:var(--muted);font-size:12px}.scene-caption{position:absolute;bottom:175px;right:4.5%;display:flex;flex-direction:column;gap:8px;font-size:12px;color:#a4b0b0;text-align:right}#market-scene{position:absolute;inset:0;z-index:0}#market-scene canvas{width:100%;height:100%;display:block}#market-scene:after{content:'';position:absolute;inset:0;background:linear-gradient(90deg,rgba(9,11,12,.35),transparent 60%),linear-gradient(0deg,#090b0c,transparent 28%,transparent 75%,#090b0c)}.chapter{padding:44px 9% 95px;position:relative;border-top:1px solid var(--line);scroll-margin-top:0}.section-label{display:flex;justify-content:space-between;font-size:12px;color:var(--muted);margin-bottom:88px}.section-label span:first-child{color:#c9cece}h2{font-family:'Barlow Condensed','Arial Narrow',Impact,sans-serif;font-weight:500;font-size:clamp(45px,6.3vw,92px);line-height:1.02;letter-spacing:-.02em;margin:0}.split{display:grid;grid-template-columns:1.4fr 1fr;gap:80px;align-items:start}.split>p,.split>div>p{font-size:16px;line-height:1.8;color:var(--muted);max-width:430px;margin:4px 0 24px}.market{padding-bottom:50px}.market-copy{display:flex;gap:80px;align-items:end;justify-content:space-between}.large-muted{font-size:clamp(24px,3vw,43px);font-weight:400;line-height:1.25;color:var(--muted);letter-spacing:-.04em;margin:0 0 5px}.market-band{margin:35px -7% 0}.market-band svg{display:block;width:100%;height:auto}.chart-note{display:block;text-align:right;font-size:12px;color:var(--muted)}.regime-controls{display:grid;grid-template-columns:repeat(3,1fr);margin-top:60px;border-bottom:1px solid var(--line);border-top:1px solid var(--line)}.regime-controls button{background:transparent;padding:24px 20px;border:none;border-right:1px solid var(--line);display:flex;align-items:center;justify-content:space-between;font-size:23px;color:var(--muted)}.regime-controls button:last-child{border-right:0}.regime-controls button span{font-family:'IBM Plex Mono',monospace;font-size:12px}.regime-controls .selected{background:#161b19;color:var(--accent)}.regime-plot{padding-top:25px}svg{overflow:visible}.regime-plot svg,.structure-view svg,.platform-visual svg{width:100%;display:block;height:auto}.plot-bottom{display:flex;justify-content:space-between;gap:15px;color:var(--muted);font-size:12px;margin-top:15px}.structure-view{margin-top:60px;background:#0c0e0f;border:1px solid var(--line);padding:22px}.study-tags{display:flex;justify-content:space-between;gap:20px;font-size:12px;color:var(--muted);padding-top:28px}.research{background:#0e1011}.instrument-layout{display:grid;grid-template-columns:1fr 1fr;margin-top:60px;border-top:1px solid var(--line);border-bottom:1px solid var(--line)}.instrument-list{border-right:1px solid var(--line)}.instrument-list button{width:100%;display:flex;align-items:center;gap:25px;padding:23px 25px 23px 0;background:transparent;border:0;border-bottom:1px solid var(--line);text-align:left;font-size:18px;color:var(--muted)}.instrument-list button:last-child{border:0}.instrument-list button[aria-selected=true]{color:var(--text)}.instrument-list button[aria-selected=true] b{color:var(--accent);transform:rotate(45deg)}.instrument-list span{font-family:'IBM Plex Mono',monospace;font-size:12px}.instrument-list b{font-size:24px;margin-left:auto;font-weight:400;transition:transform .2s}.instrument-panel{padding:32px 40px}.instrument-panel>.mono{font-size:12px;color:var(--muted)}h3{font-size:26px;font-weight:500;letter-spacing:-.025em}.instrument-panel p,.metric-description p{font-size:15px;color:var(--muted);line-height:1.8}.instrument-diagram{height:100px;display:flex;gap:6px;align-items:center;margin-top:20px}.instrument-diagram span{flex:1;border:1px solid #697360;height:45%;transform:skewY(-18deg)}.instrument-diagram span:nth-child(3n){height:80%;border-color:#aab988}.instrument-diagram span:nth-child(4n){height:60%}.efficiency-intro{display:flex;justify-content:space-between;align-items:end;gap:40px;margin:28px 0 45px}.efficiency-intro p{font-size:16px;color:var(--muted);line-height:1.8;max-width:480px;margin:0}.efficiency-intro .mono{font-size:12px;color:var(--muted)}.platform-frame{border:1px solid #43494b;background:#101314}.frame-header{padding:18px 22px;display:flex;justify-content:space-between;border-bottom:1px solid var(--line);font-size:12px}.frame-header span:last-child{color:var(--muted)}.platform-inner{display:grid;grid-template-columns:2.6fr 1fr}.platform-visual{padding:32px;border-right:1px solid var(--line)}.metric-description{padding:40px 25px}.metric-description>.mono{color:var(--accent);font-size:12px}.metric-description h3{margin-top:30px}.metric-tabs{display:flex;border-top:1px solid var(--line)}.metric-tabs button{flex:1;border:0;border-right:1px solid var(--line);background:transparent;color:var(--muted);padding:18px 8px;font-size:12px}.metric-tabs button[aria-pressed=true]{background:#21271e;color:var(--accent);box-shadow:inset 0 -2px var(--accent)}.asset-note{font-size:12px;color:var(--muted);margin-top:18px}.equity-empty{margin-top:55px;background:repeating-linear-gradient(0deg,transparent,transparent 64px,#1b1f20 65px);padding:20px 0}.equity-axes{min-height:290px;border-left:1px solid #484f51;border-bottom:1px solid #484f51;position:relative;padding:20px}.equity-axes>.mono{font-size:12px;color:var(--muted)}.equity-placeholder{text-align:center;padding:15px}.equity-placeholder h3{font-size:24px;margin:14px 0}.equity-placeholder p{font-size:14px;color:var(--muted)}.equity-placeholder .mono{font-size:12px;color:var(--muted)}.crosshair{font-family:monospace;font-size:32px;color:var(--accent)}.time-axis{position:absolute;right:0;bottom:-25px}.philosophy{background:#dfe2db;color:#151917}.philosophy .section-label,.philosophy .section-label span{color:#52594e}.principles p{font-family:'Barlow Condensed',Impact,sans-serif;font-size:clamp(35px,6vw,83px);font-weight:500;letter-spacing:-.025em;margin:0;padding:17px 0;border-bottom:1px solid #b7bdb1;line-height:1.1}.principles p:last-child{border:0}.principles p span{font-family:'IBM Plex Mono',monospace;font-size:12px;display:inline-block;width:70px;vertical-align:middle;color:#515b46;letter-spacing:0}.about{padding-top:44px;padding-bottom:110px}.founder{margin-top:45px;border-top:1px solid var(--line);padding-top:20px}.founder h3{font-size:18px;margin:0 0 10px}.founder span{font-size:12px;color:var(--muted)}footer{border-top:1px solid var(--line);padding:35px 4.5%;display:flex;flex-wrap:wrap;align-items:center;justify-content:space-between;gap:30px}footer>.mono{font-size:12px;color:var(--muted)}footer>a:last-of-type{font-size:12px}footer p{width:100%;margin:15px 0 0;color:var(--muted);font-size:12px}.skip{position:fixed;top:-100px;left:20px;background:var(--text);color:var(--bg);padding:12px;z-index:20}.skip:focus{top:15px}@media(min-width:1600px){.chapter{padding-left:max(9%,calc((100% - 1400px)/2));padding-right:max(9%,calc((100% - 1400px)/2))}}@media(max-width:800px){header{height:76px}.brand-detail{display:none}nav{gap:18px;font-size:12px}#motion{font-size:0}#motion span{font-size:16px}.hero{height:850px;max-height:1000px;min-height:690px}.hero-top{top:105px;font-size:12px}.hero-top span:last-child{display:none}.hero-title{left:6%;top:29%}h1{font-size:20vw}.hero-title>p{font-size:12px;letter-spacing:.17em;margin-left:2px}.hero-bottom{bottom:25px}.coordinates{display:none}.scene-caption{bottom:170px;font-size:12px}.chapter{padding:30px 6% 65px}.section-label{margin-bottom:55px;font-size:12px;gap:20px}.split{grid-template-columns:1fr;gap:25px}.split>p,.split>div>p{max-width:540px}.market-copy{display:block}.large-muted{margin-top:25px}.regime-controls button{font-size:16px;padding:20px 9px}.regime-controls button span{font-size:12px}.instrument-layout{grid-template-columns:1fr}.instrument-list{border-right:0}.instrument-panel{padding:30px 0;border-top:1px solid var(--line)}.instrument-list button{font-size:17px}.study-tags{flex-wrap:wrap;font-size:12px}.efficiency-intro{display:block}.efficiency-intro .mono{display:block;margin-top:20px}.platform-inner{grid-template-columns:1fr}.platform-visual{padding:20px 12px;border-right:0}.metric-description{padding:25px;border-top:1px solid var(--line);min-height:200px}.metric-description h3{margin:15px 0}.metric-tabs{flex-wrap:wrap}.metric-tabs button{font-size:12px;padding:18px 7px}.frame-header{font-size:12px;padding:16px 12px}.asset-note{line-height:1.8}.equity-placeholder{padding:35px 0}.equity-placeholder .mono{font-size:12px}.principles p span{width:35px;font-size:12px}footer>.mono{display:none}.structure-view{padding:10px;margin-top:35px}.plot-bottom{font-size:12px}.hero-bottom p{font-size:12px}}@media(prefers-reduced-motion:reduce){html{scroll-behavior:auto}*{transition:none!important}}

.hero-top{z-index:2}.market-band{overflow:hidden}.metric-tabs button{font-size:14px}.instrument-panel p,.metric-description p{font-size:16px}@media(max-width:800px){nav{gap:14px}.brand{font-size:16px;gap:8px}.mark{font-size:22px}.section-label{flex-wrap:wrap;row-gap:10px}.plot-bottom{flex-wrap:wrap;line-height:1.6}.scene-caption{line-height:1.6}.hero-top{max-width:85%;line-height:1.6}.hero-title>p{font-size:12px;letter-spacing:.09em}.metric-tabs button{flex-basis:33%}.frame-header{flex-wrap:wrap;gap:12px}.hero-bottom{gap:14px}.hero-bottom p{font-size:12px}.regime-controls button{font-size:14px}.regime-controls button span{font-size:10px}.study-tags{line-height:1.8}svg text{font-size:16px}.principles p{font-size:clamp(30px,6vw,83px)}}
@media(max-width:800px){.market-band{margin-left:-6%;margin-right:-6%}.chart-note{padding:0 12px;line-height:1.7}.regime-controls button{min-height:64px}}

.hero-data{color:#c2cf8e}

.nq-instrument{margin:55px 0 0;border:1px solid #43494b;background:#0e1112}.nq-heading{padding:28px 32px;display:flex;justify-content:space-between;align-items:center;gap:25px;border-bottom:1px solid var(--line)}.nq-heading h3{font-size:30px;margin:12px 0 0}.nq-stats{display:grid;grid-template-columns:2fr 1fr 1fr;border-bottom:1px solid var(--line)}.nq-stats>div{padding:25px 32px;display:flex;flex-direction:column;gap:10px;border-right:1px solid var(--line)}.nq-stats>div:last-child{border-right:0}.nq-stats span{font-size:12px;color:var(--muted)}.nq-stats strong{font-family:'IBM Plex Mono',monospace;font-size:30px;font-weight:400;letter-spacing:-.04em}.nq-stats small{font-size:14px;color:var(--muted)}.nq-chart{padding:28px 25px 5px}.nq-chart svg{width:100%;height:auto;display:block}.nq-chart text{font-family:'IBM Plex Mono',monospace;font-size:12px;fill:#939a9d}.nq-grid{stroke:#292d30;stroke-width:1;fill:none}.nq-curve{stroke:#c2cf8e;stroke-width:1.6;fill:none;vector-effect:non-scaling-stroke}.nq-instrument figcaption{border-top:1px solid var(--line);padding:22px 32px}.nq-instrument figcaption>span{font-family:'IBM Plex Mono',monospace;font-size:12px;color:#b4bcb9}.nq-instrument figcaption p{font-size:14px;line-height:1.7;color:var(--muted);max-width:900px;margin:12px 0 0}@media(max-width:800px){.nq-heading{padding:22px;align-items:start;flex-direction:column}.nq-stats{grid-template-columns:1fr 1fr}.nq-stats>div{padding:20px}.nq-stats>div:first-child{grid-column:1/-1;border-right:0;border-bottom:1px solid var(--line)}.nq-stats strong{font-size:26px}.nq-chart{padding:25px 10px 10px;overflow-x:auto}.nq-chart svg{min-width:650px}.nq-instrument figcaption{padding:20px}.nq-instrument figcaption>span{line-height:1.7}}

.hero-title h1{position:relative;width:max-content}.title-letter{display:inline-block}.title-intro .title-letter{animation:title-assemble .72s cubic-bezier(.16,1,.3,1) both;animation-delay:calc(var(--letter)*65ms)}.title-intro .hero-title h1:after{content:'';position:absolute;pointer-events:none;inset:5% auto 2% 0;width:1px;background:#c2cf8e;box-shadow:0 0 8px #c2cf8e55;animation:title-scan 1.15s cubic-bezier(.22,.6,.3,1) both}.title-intro .hero-title>p{animation:title-caption .6s ease-out .65s both}@keyframes title-assemble{0%{opacity:.2;transform:translateY(.12em);clip-path:inset(70% 0 0 0)}45%{opacity:.8;clip-path:inset(0 0 0 0)}100%{opacity:1;transform:translateY(0);clip-path:inset(0 0 0 0)}}@keyframes title-scan{0%{left:0;opacity:0}12%{opacity:.8}80%{opacity:.6}100%{left:100%;opacity:0}}@keyframes title-caption{from{opacity:.3;transform:translateY(4px)}to{opacity:1;transform:translateY(0)}}@media(prefers-reduced-motion:reduce){.title-intro .title-letter,.title-intro .hero-title>p{animation:none}.title-intro .hero-title h1:after{display:none}}

.graphic-readhead{pointer-events:none}.instrument-diagram span{transform-origin:50% 100%}.graphic-scanning{isolation:isolate}#motion.motion-docked{position:fixed;right:24px;bottom:24px;z-index:20;padding:14px 17px;background:#111615;border:1px solid #454e42;font-size:12px;box-shadow:0 4px 18px #0005}#motion.motion-docked span{font-size:14px}@media(max-width:800px){#motion.motion-docked{right:14px;bottom:14px;font-size:12px;padding:12px 14px}}@media(prefers-reduced-motion:reduce){.graphic-readhead{display:none}}

/* Pointillist title fill stays live HTML, including during its reveal. */
.hero-data{--dot-spacing:clamp(3px,.36vw,5px);--dot-radius:clamp(.85px,.10vw,1.4px);color:var(--accent)}
@supports ((background-clip:text) or (-webkit-background-clip:text)){
 .hero-data .title-letter{background-image:radial-gradient(circle,var(--accent) 0 var(--dot-radius),transparent calc(var(--dot-radius) + .35px));background-size:var(--dot-spacing) var(--dot-spacing);background-position:center;background-clip:text;-webkit-background-clip:text;color:transparent;-webkit-text-fill-color:transparent}
}
@media(forced-colors:active){.hero-data .title-letter{background:none;color:CanvasText;-webkit-text-fill-color:CanvasText}}
.glitch-layer{position:absolute;inset:0;pointer-events:none;opacity:0;user-select:none}.glitch-layer .title-letter{animation:none!important}.glitch-upper{clip-path:inset(28% 0 61% 0)}.glitch-lower{clip-path:inset(59% 0 31% 0)}.title-glitch .glitch-upper{animation:glitch-upper .25s steps(1,end)}.title-glitch .glitch-lower{animation:glitch-lower .25s steps(1,end)}.title-glitch>span:first-child .hero-data .title-letter{animation:glitch-points .25s steps(1,end)}
@keyframes glitch-upper{0%{opacity:.8;transform:translateX(-.035em)}48%{opacity:.65;transform:translateX(.018em)}100%{opacity:0;transform:translateX(0)}}@keyframes glitch-lower{0%{opacity:.65;transform:translateX(.03em)}48%{opacity:.8;transform:translateX(-.02em)}100%{opacity:0;transform:translateX(0)}}@keyframes glitch-points{0%{background-position:2px 0;transform:translateX(1px)}48%{background-position:-1px 1px;transform:translateX(-1px)}100%{background-position:center;transform:none}}
@media(prefers-reduced-motion:reduce){.glitch-layer{display:none}.title-glitch>span:first-child .hero-data .title-letter{animation:none}}

@media(min-width:801px) and (max-width:1100px){.brand-detail{display:none}nav{gap:22px}}@media(max-width:800px){header{height:110px;align-items:flex-start;padding-top:21px}header nav{position:absolute;left:4.5%;right:4.5%;bottom:16px;display:flex;justify-content:space-between;gap:10px;font-size:12px}header nav a{white-space:nowrap}header #motion:not(.motion-docked){padding:0}.hero-top{top:138px}}
@media(max-width:800px){header nav{letter-spacing:0;gap:8px}}

.paper-links{width:100%;display:grid;grid-template-columns:1fr 3fr;gap:48px;padding:12px 0 35px;border-bottom:1px solid var(--line)}.paper-links h2{font-family:Inter,Arial,sans-serif;font-size:20px;line-height:1.4;font-weight:500;letter-spacing:-.02em}.paper-links ol{list-style:none;margin:0;padding:0}.paper-links li{display:flex;gap:24px;align-items:baseline;padding:18px 0;border-bottom:1px solid var(--line)}.paper-links li:first-child{padding-top:0}.paper-links li:last-child{border-bottom:0;padding-bottom:0}.paper-links li span{color:var(--accent);flex-shrink:0}.paper-links a{font-size:16px;line-height:1.65;max-width:900px}.paper-links a:hover{text-decoration:underline;text-underline-offset:5px}@media(max-width:800px){.paper-links{grid-template-columns:1fr;gap:25px}.paper-links li{gap:16px}}