SOMEN Research reads private, pre-IPO technology companies the way an engineer reads a design review: claim by claim, against the primary record. A company says one thing; the filings, the patent record, the labor certifications, and the archived versions of its own website often say something else. Every piece starts at that gap.
Three rules govern everything published here:
Every number resolves to a link a reader can open.
Every core claim ships with a falsifier and a resolve-by date.
Every resolution lands on the public scorecard: confirmed, refuted, or partial, in plain view.
If you follow one thread
The AI supply chain. Two Stacks: The AI Compute Supply Chain Map traces both AI compute chains, Western and Chinese, from the financing through the power to the lasers, and finds the same shape in each: the chain narrows as it deepens, and the narrowest points have a single supplier. The follow-ups go one layer deeper: The Bigger Stencil maps the photomask chokepoint under the world’s only EUV lithography vendor, and Memory After the Sold-Out Years maps the memory squeeze behind the price you paid at the phone counter.
If you follow the money
The pre-IPO record. Nscale: $103 Billion Claimed, $21 Million Filed is the desk’s method in one case: an IPO backlog claim walked down to the audited revenue lines in the Norwegian register - then graded when the S-1 landed. Anthropic’s $543 Billion Compute Ledger adds up the take-or-pay rungs, counterparty by counterparty. Etched: The 2.9 Percent Round is the ownership arithmetic every private round gets here: what the new money actually bought.
If you follow the robots
Not Publicly Computable takes the robotics market’s marks - Unitree’s IPO, Figure’s round, AgiBot’s ask - and asks what each number actually measures. The answer is usually “the instrument, not the company.”
The method, briefly
Research runs on one knowledge graph built for this desk: hundreds of companies and tens of thousands of sourced relationships spanning funding, patents, hiring, supply contracts, dependencies, and secondary-market pricing. Every relationship carries its source, its evidence date, and a confidence score. A number without a source does not print.
The machine-readable layer - the scorecard, the marks table (claim vs round vs secondary tape), and the napkin table (new-money stakes) - lives at the desk’s reference site.
Nothing here is a prediction, a price target, or investment advice. It is a structural read of the public record: what the companies say, what the record shows, and what would prove the desk wrong.
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