Decision Lab · Turn 3 of 5
The cash runway call
Your burn just outpaced plan by 40%. The board meets in nine days. You have three moves and eleven weeks of cash.
◎ This lab masters Second-Order ThinkingRunway
11 wks
Burn vs plan
+40%
Team
24
Board in
9 days
Compare · your path and Munger’s
Your path
Turn 1 re-forecast · Turn 2 held · Turn 3 held ·
Turn 4 cut 20% · Turn 5 bridge at a 30% discount.
Exited at turn 5 · runway 3 wks at close ·
team 19
Through Inversion · Munger
Turn 1 re-forecast · Turn 2 cut 20% ·
Turn 3 bridge from the existing syndicate · Turns 4–5 unspent.
Exited at turn 2 · runway 9 wks at close ·
team 21
Same scenario, same authored options — only the preference order changed. That is what makes the contrast teach.