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/home/box/agents/fyj-founder-bot/directory/market-path-research-2026-09-03-0655.md

03 Sep 2026 07:04 London · 16598 bytes · readable HTML from the file

Market-path research — 3 Sep 2026 06:55 Europe/London

Not a P move. No path named. No customer named.
Did not re-read Companies House company 16892858.
Did not repeat last recon hour: Growth Capital Partners (3 Sep 05:55 Companies in the space). Do not re-use Growth Capital Partners as primary.
Also did not repeat as primary: Women's Aid, Notion Capital, Refuge, Average weekly earnings, Liberis, Capital Enterprise, YouLend, Bethnal Green Ventures, Seedcamp, Angel Investment Network, Assetz Capital, ThinCats, Antler, LawCare, MarketFinance, ONS Vacancies, MSA s.54, StreetLink, Turn2us, Centrepoint, Crisis, Shelter, ONS labour-market overview, Funding Circle, iwoca, BGF, Entrepreneur First, Founders Factory, Crowdcube, Seedrs, SyndicateRoom, UK GDPR, CRA, CCR, PECR, GEM UK, LSBS, BoE CCS, BoE ASBC, ONS BICS, PAYE RTI, BBB SBFM, CH April–June 2026, Google for Startups, Santander Breakthrough, Advicelocal, Youth Access, ATJF, AdviceNow, Virgin StartUp, Eagle Labs, NatWest Accelerator. Explicitly did not re-open Growth Capital Partners / Women's Aid / Notion Capital / Refuge / Average weekly earnings / Liberis / Capital Enterprise / YouLend / Bethnal Green Ventures / Seedcamp / Angel Investment Network / Assetz Capital / ThinCats / Antler / LawCare / MarketFinance / Vacancies / MSA s.54 / StreetLink / ONS labour-market overview / BGF as primary. Prefer Haatch this hour (named preferred unused Companies-in-the-space sibling left unused at 3 Sep 05:55 Growth Capital Partners and earlier at 03:55 Notion Capital / 04:55 Women's Aid). Distinct from 14:20 compile (e834b2f2, 0 candidates, blocker reach) and from 15:36 reach-story/stats (58cd58c1). Distinct from Growth Capital Partners / Notion Capital / BGF PE-VC / growth-equity lanes, Liberis / YouLend / Assetz / ThinCats / Funding Circle / iwoca / MarketFinance debt lanes, Seedcamp / Antler / Entrepreneur First / Founders Factory / Bethnal Green Ventures programme lanes, Crowdcube / Seedrs / SyndicateRoom equity-crowdfunding, UKBAA / BVCA trade associations. 08:55 already skipped ~11:55 (no reply by 10:25) — Status skipped / proceeded without new founder input. 10:55 this cycle did not fire (no research file, no hour-log row) — noted honestly; not FAIL previous hour missing (that rule is Progressive-plan only; no Progressive-plan row for this hour → standing recon 26e4abb6). 14:55 skipped (no reply by 16:25) — proceeded without new founder input; listed plan standing recon 26e4abb6, cut parked, Hermes parked, inbox stays. 17:15/17:25 close already ran at 17:32 — this hour does not re-close the cycle. 18:55 this cycle did not fire (no research file, no hour-log row) — noted honestly; not FAIL. Previous hour 05:55 EXISTS (Growth Capital Partners) — FAIL-previous-hour rule is Progressive-plan only — do NOT write FAIL. Automation for this 06:55 hour fired ~06:58 London. Night of 2–3 Sep still running — no new overnight page this hour (overnight page is separate). Did not unpark/install customer cut 63e813ea. Did not write kpis/p-evidence.md. Did not promote portfolio companies / SEIS-EIS investors / Haatch Direct investors / UK software founders seeking pre-seed or seed as an accepted market/path. Did not install the 12:48 productised hour-menu as a path. Did not invent a buyer from Haatch portfolio / founders pitching Haatch / SEIS-EIS retail investors / financial advisers. Did not treat Haatch as Growth Capital Partners, Notion Capital, BGF, Seedcamp, or Antler. Did not switch primary away from Haatch — Haatch haatch.com cluster lives this hour (HTTP 200). Did not invent company numbers; numbers below are printed on the Haatch site (footer / Important information) and CH opened only for those printed numbers (OC421829 and 08900522). FCA registration number 916959 is printed on the site — recorded from the page, not invented.

Area: Companies in the space.
Verdict: stayed thin.
P unchanged.

Searched

Prefer Companies in the space this hour — Haatch / haatch.com (www.haatch.com → haatch.com). Why this source now: destination $2.5–5bn; first-customer cut parked (63e813ea); live gate still cannot compile path candidates (e834b2f2 compile 0; blocker still REACH — how a first professional hour is found and sold); last recon hour was Growth Capital Partners Companies in the space; this hour stays category Companies in the space and files the named Haatch sibling left unused at 05:55 Growth Capital Partners for how-founders-meet-institutional-capital (UK early-stage SEIS/EIS / pre-seed–seed operator-VC next to Growth Capital Partners, Notion Capital, BGF, Seedcamp, Antler) without inventing a buyer. Hold = no invention, not no recon. Not a FYJ path. Not P. This hour works REACH-channel companies-in-the-space filing on the live compile-paths gate and does not invent a buyer to close it. Stay category Companies in the space — primary Haatch cluster lives (apex HTTP 200). Fallbacks not switched: no dead/blocked primary this hour.

HTTP inventory

What stands

What does not stand

End-to-end test

Value-forming

The Companies in the space line got another how-founders-meet-institutional-capital filing (Haatch after Growth Capital Partners, Notion Capital, BGF, Liberis, YouLend, Assetz, ThinCats, Funding Circle, iwoca). Value has not started to form as a FYJ path. A UK early-stage SEIS/EIS / operator-VC host is not a path. Adjacent companies-in-the-space filings still leave who / why / how / next empty.

Result

No path named yet. Companies in the space stayed thin. P unchanged. Haatch primary cluster lives — no switch to a fallback. CH opened only for printed OC421829 and 08900522. FCA 916959 recorded from printed footer. Did not open 16892858.

Unused fallbacks named for NEXT hour

  1. Companies-in-the-space Haatch now filed. Do not re-use Haatch / Growth Capital Partners / Notion Capital / BGF as primary next hour.
  2. Competitor-mapping: Women's Aid and Refuge now filed. Do not re-use Women's Aid / Refuge / LawCare as primary next hour.
  3. Prefer a fresh unused Market scenarios OR Risk reduction OR Market discovery host NOT already banned. Do not re-use Liberis / Capital Enterprise / YouLend / Bethnal Green Ventures / Seedcamp / Angel Investment Network / Assetz Capital / ThinCats / Antler / LawCare / MarketFinance / Vacancies / Average weekly earnings / Refuge / Notion Capital / Women's Aid / Growth Capital Partners / Haatch / MSA s.54 / StreetLink / ONS labour-market overview / BGF as primary next hour.
  4. Do not fake unpublished ONS UK business activity, size and location 2026 (provisional 24 Sep 2026). Do not re-read Haatch or Growth Capital Partners as primary.
  5. Prefer a fresh unused perimeter next hour rather than re-filing Haatch SEIS/EIS fund depth or Elevaate Limited branding as a path.

Confirmation

Contract UUID 26e4abb6-3b66-4a66-a4f7-d4c065ad9233 is live. Hold = no invention, not no recon. Standing work is recon until end-to-end paths emerge and value-forming is visible. No path named. P unchanged. Customer cut parked.
One line: 63e813ea is live (parked).
e834b2f2 compile still 0; blocker still reach. 58cd58c1 Founder View is the story. 06657cd0 pages shareable. f7c2a04e voice walk. c7b2e14a short Evidence. Hermes parked. Slot unchanged. Layer unchanged (Peer toggle: Founder View ↔ Agent View).
08:55 already skipped ~11:55. Proceeded without new founder input. 10:55 did not fire this cycle — noted. 14:55 skipped (no reply by 16:25) — proceeded without new founder input. 17:15/17:25 close already ran at 17:32 — not re-closed this hour. 18:55 did not fire this cycle — noted; not FAIL. Previous hour 05:55 EXISTS — not FAIL. Automation for 06:55 fired ~06:58 London. Night of 2–3 Sep still running — no new overnight page this hour.

Raw file
<!-- AGENT VIEW ONLY.
This file is the working recon note (directory/*.md).
Do NOT copy this dump onto founder-view-path-research-*.md.
Founder Evidence is narrative plus chain. HTTP inventories stay here.
-->

# Market-path research — 3 Sep 2026 06:55 Europe/London

Not a P move. No path named. No customer named.
Did not re-read Companies House company 16892858.
Did not repeat last recon hour: Growth Capital Partners (3 Sep 05:55 Companies in the space). Do not re-use Growth Capital Partners as primary.
Also did not repeat as primary: Women's Aid, Notion Capital, Refuge, Average weekly earnings, Liberis, Capital Enterprise, YouLend, Bethnal Green Ventures, Seedcamp, Angel Investment Network, Assetz Capital, ThinCats, Antler, LawCare, MarketFinance, ONS Vacancies, MSA s.54, StreetLink, Turn2us, Centrepoint, Crisis, Shelter, ONS labour-market overview, Funding Circle, iwoca, BGF, Entrepreneur First, Founders Factory, Crowdcube, Seedrs, SyndicateRoom, UK GDPR, CRA, CCR, PECR, GEM UK, LSBS, BoE CCS, BoE ASBC, ONS BICS, PAYE RTI, BBB SBFM, CH April–June 2026, Google for Startups, Santander Breakthrough, Advicelocal, Youth Access, ATJF, AdviceNow, Virgin StartUp, Eagle Labs, NatWest Accelerator. Explicitly did not re-open Growth Capital Partners / Women's Aid / Notion Capital / Refuge / Average weekly earnings / Liberis / Capital Enterprise / YouLend / Bethnal Green Ventures / Seedcamp / Angel Investment Network / Assetz Capital / ThinCats / Antler / LawCare / MarketFinance / Vacancies / MSA s.54 / StreetLink / ONS labour-market overview / BGF as primary. Prefer Haatch this hour (named preferred unused Companies-in-the-space sibling left unused at 3 Sep 05:55 Growth Capital Partners and earlier at 03:55 Notion Capital / 04:55 Women's Aid). Distinct from 14:20 compile (e834b2f2, 0 candidates, blocker reach) and from 15:36 reach-story/stats (58cd58c1). Distinct from Growth Capital Partners / Notion Capital / BGF PE-VC / growth-equity lanes, Liberis / YouLend / Assetz / ThinCats / Funding Circle / iwoca / MarketFinance debt lanes, Seedcamp / Antler / Entrepreneur First / Founders Factory / Bethnal Green Ventures programme lanes, Crowdcube / Seedrs / SyndicateRoom equity-crowdfunding, UKBAA / BVCA trade associations. 08:55 already skipped ~11:55 (no reply by 10:25) — Status skipped / proceeded without new founder input. 10:55 this cycle did not fire (no research file, no hour-log row) — noted honestly; not FAIL previous hour missing (that rule is Progressive-plan only; no Progressive-plan row for this hour → standing recon 26e4abb6). 14:55 skipped (no reply by 16:25) — proceeded without new founder input; listed plan standing recon 26e4abb6, cut parked, Hermes parked, inbox stays. 17:15/17:25 close already ran at 17:32 — this hour does not re-close the cycle. 18:55 this cycle did not fire (no research file, no hour-log row) — noted honestly; not FAIL. Previous hour 05:55 EXISTS (Growth Capital Partners) — FAIL-previous-hour rule is Progressive-plan only — do NOT write FAIL. Automation for this 06:55 hour fired ~06:58 London. Night of 2–3 Sep still running — no new overnight page this hour (overnight page is separate). Did not unpark/install customer cut 63e813ea. Did not write kpis/p-evidence.md. Did not promote portfolio companies / SEIS-EIS investors / Haatch Direct investors / UK software founders seeking pre-seed or seed as an accepted market/path. Did not install the 12:48 productised hour-menu as a path. Did not invent a buyer from Haatch portfolio / founders pitching Haatch / SEIS-EIS retail investors / financial advisers. Did not treat Haatch as Growth Capital Partners, Notion Capital, BGF, Seedcamp, or Antler. Did not switch primary away from Haatch — Haatch haatch.com cluster lives this hour (HTTP 200). Did not invent company numbers; numbers below are printed on the Haatch site (footer / Important information) and CH opened only for those printed numbers (OC421829 and 08900522). FCA registration number 916959 is printed on the site — recorded from the page, not invented.

Area: Companies in the space.
Verdict: stayed thin.
P unchanged.

## Searched
Prefer Companies in the space this hour — Haatch / haatch.com (www.haatch.com → haatch.com). Why this source now: destination $2.5–5bn; first-customer cut parked (63e813ea); live gate still cannot compile path candidates (e834b2f2 compile 0; blocker still REACH — how a first professional hour is found and sold); last recon hour was Growth Capital Partners Companies in the space; this hour stays category Companies in the space and files the named Haatch sibling left unused at 05:55 Growth Capital Partners for how-founders-meet-institutional-capital (UK early-stage SEIS/EIS / pre-seed–seed operator-VC next to Growth Capital Partners, Notion Capital, BGF, Seedcamp, Antler) without inventing a buyer. Hold = no invention, not no recon. Not a FYJ path. Not P. This hour works REACH-channel companies-in-the-space filing on the live compile-paths gate and does not invent a buyer to close it. Stay category Companies in the space — primary Haatch cluster lives (apex HTTP 200). Fallbacks not switched: no dead/blocked primary this hour.

## HTTP inventory
- Apex HTTPS https://haatch.com/ — first-hop HTTP 200 size 1746724 content-type text/html. Title: Haatch - Backing founders solving deep pains. Presents UK early-stage investor backing founders solving deep pains; B2B software across future of enterprise / fintech / vertical SaaS; site claims Active Portfolio Companies 197; Raised and invested to date £155m; British Business Bank Investment £62m; Scaling you to £1m ARR and building the engine for £10m+; Pitch to us.
- https://www.haatch.com/ — first-hop HTTP 200 size 1746724 (lands on haatch.com).
- http://haatch.com/ — first-hop HTTP 200 size 1746724 (lands on https haatch.com).
- https://haatch.com/about/ — HTTP 200 size 1746724 (lands on homepage).
- https://haatch.com/team — HTTP 200 size 527812. Title: Haatch - Operators turned investors, with real founder experience.
- https://haatch.com/portfolio — HTTP 200 size 2015793. Title: Haatch - Scaling Ambition.
- https://haatch.com/founders — HTTP 200 size 342360. Title: Haatch - Backing the next generation of founders. /pitch lands here (200 size 342360).
- https://haatch.com/investors — HTTP 200 size 297097. Title: Haatch - Our open SEIS and EIS Funds.
- https://haatch.com/news — HTTP 200 size 521533. Title: Haatch - Keep up-to-date with the latest Fundraising, Insights & News. /blog lands here.
- https://haatch.com/contact — HTTP 200 size 203848. Title: Haatch - Contact Us.
- https://haatch.com/legal/important-information — HTTP 200 size 207092. Title: Important information | Haatch |. /privacy-policy/ lands here (200 size 207092). Printed: website owned and operated by Haatch; registered in England and Wales under registration number 08900522; registered office The Hub, Blackfriars Street, Stamford, Lincolnshire, PE9 2BW; principal place of business same; contact hello@haatch.com; Complaints addressed to The Compliance Officer Haatch The Hub Blackfriars Street. Footer on all pages: Haatch Ventures LLP limited liability partnership registered in England registration number OC421829; manager of the Haatch SEIS Fund, Haatch EIS Fund, Haatch BBB Syndicate Fund, Blue Earth Syndicate, Loughborough Venture Investor Network Fund & Haatch D2N2 ESAIF; authorised and regulated by the Financial Conduct Authority (FCA registration number 916959); financial promotion approved by Haatch Ventures LLP (FCA registration number 916959) on the 27th November 2025.
- https://haatch.com/sitemap.xml — HTTP 200 size 38691.
- https://haatch.com/robots.txt — HTTP 200 size 39.
- Named short paths HTTP 404 size 59751 this hour: /companies/ /investments/ /privacy/ /legal/ (root, not important-information) /terms/ /apply/ /funds/ /thesis/ /programme/ /program/ /accelerator/ /fees/ /who-we-are/ /our-approach/ /approach/ /cookie-policy/ /cookies/ /complaints/ /regulatory/ /modern-slavery/ /modern-slavery-statement/ /terms-of-use/ /terms-and-conditions/ /cookie/ /lp/ /esg/ /insights/ /submit/ /raise/ /fund-i/ /fund-ii/ /haatch-ventures/.
- Companies House (printed LLP number): https://find-and-update.company-information.service.gov.uk/company/OC421829 — HTTP 200 size 35257. HAATCH VENTURES LLP Company number OC421829. Company status Active. Company type Limited liability partnership. Incorporated on 5 April 2018. Registered office address The Hub, Blackfriars Street, Stamford, Lincolnshire, United Kingdom, PE9 2BW. Last accounts made up to 30 April 2025; Next accounts made up to 30 April 2026 due by 31 January 2027. Last confirmation statement dated 29 October 2025; Next statement date 29 October 2026 due by 12 November 2026. No previous company names section on overview this hour. LLP — no SIC line printed on the overview this hour; do not invent a SIC.
- Companies House (printed limited-company number from Important information): https://find-and-update.company-information.service.gov.uk/company/08900522 — HTTP 200 size 35786. ELEVAATE LIMITED Company number 08900522. Company status Active. Company type Private limited Company. Incorporated on 18 February 2014. Registered office address C/O Tmf Group 13th Floor, One Angel Court, London, United Kingdom, EC2R 7HJ. Nature of business (SIC) 62020 - Information technology consultancy activities. Last accounts made up to 31 December 2024; Next accounts made up to 31 December 2025 due by 30 September 2026. Last confirmation statement dated 8 March 2026; Next statement date 8 March 2027 due by 22 March 2027. Site Important-information prints registered office The Hub Blackfriars Street Stamford PE9 2BW for 08900522; CH prints One Angel Court EC2R 7HJ — both printed; left unreconciled, not a path. Named unpadded CH /company/8900522 — HTTP 404 size 30470.
- Did not invent a FYJ buyer from portfolio founders, SEIS/EIS retail investors, financial advisers, Haatch Direct investors, or "UK software founders". Named short-path 404s are not a missing live Haatch apex. A UK early-stage SEIS/EIS / operator-VC host is not a FYJ product catalogue. Did not open 16892858. Did not invent an FCA FRN (916959 is printed). Did not invent unpadded CH 8900522 as a live page.

## What stands
- Live Haatch companies-in-the-space cluster: apex HTTP 200 size 1746724 title Haatch - Backing founders solving deep pains; www → apex same size; team 527812; portfolio 2015793; founders / pitch 342360; investors 297097; news / blog 521533; contact 203848; legal/important-information / privacy-policy 207092; about → homepage; named companies-investments-privacy-legal-root-terms-apply-funds-fees-programme-accelerator-who-we-are-complaints-cookie HTTP 404 size 59751; sitemap 38691; robots 39; CH OC421829 Active LLP from 5 Apr 2018 RO The Hub Blackfriars Street Stamford PE9 2BW; CH 08900522 Active ELEVAATE LIMITED from 18 Feb 2014 SIC 62020 RO One Angel Court EC2R 7HJ (site Stamford address for 08900522 left unreconciled); named CH 8900522 404.
- Printed identity: Haatch Ventures LLP OC421829; FCA registration number 916959; manager of Haatch SEIS Fund / Haatch EIS Fund / Haatch BBB Syndicate Fund / Blue Earth Syndicate / Loughborough Venture Investor Network Fund / Haatch D2N2 ESAIF; financial promotion approved 27 November 2025; Important information also prints site owned/operated by Haatch under registration number 08900522.
- Site claims (context only, not a path): Active Portfolio Companies 197; Raised and invested to date £155m; British Business Bank Investment £62m; B2B software / enterprise / fintech / vertical SaaS; scale founders to £1m ARR / engine for £10m+.
- Companies-in-the-space how-founders-meet-institutional-capital lane next to Growth Capital Partners, Notion Capital, BGF, Liberis, YouLend, Angel Investment Network, Assetz Capital, ThinCats, Funding Circle, iwoca, MarketFinance, Crowdcube, Seedrs, SyndicateRoom, Seedcamp, Antler, Entrepreneur First, Founders Factory, Bethnal Green Ventures, UKBAA, BVCA / UK Private Capital. Not a FYJ market path.
- Portfolio companies / SEIS-EIS investors / founders pitching Haatch are capital-market counterparties — not who FYJ sells to.

## What does not stand
- No page names a FYJ customer, market, offer, or P.
- Portfolio founders, SEIS/EIS retail investors, and financial advisers are not a FYJ buyer.
- A Haatch UK early-stage SEIS/EIS / operator-VC host is not a FYJ market path.
- Naming "FYJ for Haatch portfolio companies / UK software founders pitching Haatch / SEIS investors" is inventing a customer — banned.
- Do not invent unpadded CH 8900522 as a live page (named short 404; live is 08900522). Do not re-file Growth Capital Partners / Notion Capital / BGF / Women's Aid as primary. Do not open 16892858. Do not reconcile Elevaate Limited vs Haatch branding into a path.
- Who / why / how / next all missing. No candidate this hour has even a partial who / why / how. End-to-end stays missing. Productised-menu context from 12:48 does not fill those blanks. Compile stays 0 (e834b2f2); reach blocker not closed by filing another how-founders-meet-institutional-capital host. Stayed thin as a path.

## End-to-end test
- Who it is for: missing.
- Why they would pay: missing.
- How FYJ reaches them: missing (a Haatch SEIS/EIS / early-stage operator-VC cluster is how founders meet institutional / tax-relief capital, not how FYJ reaches a named buyer).
- What sits next: missing.
No real public fact this hour filled any of the four. Do not invent the rest. The Haatch pages (+ CH OC421829 / 08900522) fill a Companies in the space cell (how-founders-meet-institutional-capital). They do not fill a path cell. They do not install the productised-menu bucket. They do not pad compile candidates. Compile stays 0.

## Value-forming
The Companies in the space line got another how-founders-meet-institutional-capital filing (Haatch after Growth Capital Partners, Notion Capital, BGF, Liberis, YouLend, Assetz, ThinCats, Funding Circle, iwoca). Value has not started to form as a FYJ path. A UK early-stage SEIS/EIS / operator-VC host is not a path. Adjacent companies-in-the-space filings still leave who / why / how / next empty.

## Result
No path named yet. Companies in the space stayed thin. P unchanged. Haatch primary cluster lives — no switch to a fallback. CH opened only for printed OC421829 and 08900522. FCA 916959 recorded from printed footer. Did not open 16892858.

## Unused fallbacks named for NEXT hour
1. Companies-in-the-space Haatch now filed. Do not re-use Haatch / Growth Capital Partners / Notion Capital / BGF as primary next hour.
2. Competitor-mapping: Women's Aid and Refuge now filed. Do not re-use Women's Aid / Refuge / LawCare as primary next hour.
3. Prefer a fresh unused Market scenarios OR Risk reduction OR Market discovery host NOT already banned. Do not re-use Liberis / Capital Enterprise / YouLend / Bethnal Green Ventures / Seedcamp / Angel Investment Network / Assetz Capital / ThinCats / Antler / LawCare / MarketFinance / Vacancies / Average weekly earnings / Refuge / Notion Capital / Women's Aid / Growth Capital Partners / Haatch / MSA s.54 / StreetLink / ONS labour-market overview / BGF as primary next hour.
4. Do not fake unpublished ONS UK business activity, size and location 2026 (provisional 24 Sep 2026). Do not re-read Haatch or Growth Capital Partners as primary.
5. Prefer a fresh unused perimeter next hour rather than re-filing Haatch SEIS/EIS fund depth or Elevaate Limited branding as a path.

## Confirmation
Contract UUID 26e4abb6-3b66-4a66-a4f7-d4c065ad9233 is live. Hold = no invention, not no recon. Standing work is recon until end-to-end paths emerge and value-forming is visible. No path named. P unchanged. Customer cut parked.
One line: 63e813ea is live (parked).
e834b2f2 compile still 0; blocker still reach. 58cd58c1 Founder View is the story. 06657cd0 pages shareable. f7c2a04e voice walk. c7b2e14a short Evidence. Hermes parked. Slot unchanged. Layer unchanged (Peer toggle: Founder View ↔ Agent View).
08:55 already skipped ~11:55. Proceeded without new founder input. 10:55 did not fire this cycle — noted. 14:55 skipped (no reply by 16:25) — proceeded without new founder input. 17:15/17:25 close already ran at 17:32 — not re-closed this hour. 18:55 did not fire this cycle — noted; not FAIL. Previous hour 05:55 EXISTS — not FAIL. Automation for 06:55 fired ~06:58 London. Night of 2–3 Sep still running — no new overnight page this hour.

Storage file view of FYJ Founder Bot. Not the Identity letter.