An advisory jury here reads like a Snapshot vote with Judge Gonzalez Rogers holding the multisig, so the theater only matters if she buys the charitable-trust theory. If a $38M nonprofit donation can become a claim on hundreds of billions in PBC/IPO upside years later, every “public goods” foundation with a for-profit lab attached should tighten its docs tonight. Microsoft’s $13B partnership is the part to track: mission language turns into liability once the cap table starts pricing a trillion-dollar exit.

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