:root {
  color-scheme: light dark;
  --bg: #f5f5f7;
  --surface: rgba(255,255,255,.76);
  --surface-solid: #fff;
  --text: #1d1d1f;
  --muted: #6e6e73;
  --line: rgba(0,0,0,.08);
  --accent: #0071e3;
  --accent-soft: rgba(0,113,227,.08);
  --positive: #147d64;
  --negative: #b42318;
  --warning: #986801;
  --radius-lg: 32px;
  --radius-md: 22px;
  --shadow: 0 24px 70px rgba(0,0,0,.07);
  --wrap: 1120px;
  --book: "Iowan Old Style","Palatino Linotype","Book Antiqua",Palatino,Georgia,"Times New Roman",serif;
  --sans: -apple-system,BlinkMacSystemFont,"SF Pro Display","SF Pro Text","Helvetica Neue",Arial,"PingFang SC","Microsoft YaHei",sans-serif;
}
*{box-sizing:border-box} html{scroll-behavior:smooth} body{margin:0;background:radial-gradient(circle at 18% 0%,rgba(255,255,255,.98),transparent 34rem),var(--bg);color:var(--text);font-family:var(--sans);line-height:1.55;-webkit-font-smoothing:antialiased;text-rendering:optimizeLegibility} a{color:inherit}.wrap{width:min(calc(100% - 40px),var(--wrap));margin-inline:auto}.site-header{width:min(calc(100% - 40px),var(--wrap));height:68px;margin-inline:auto;display:flex;align-items:center;justify-content:space-between;border-bottom:1px solid var(--line)}.brand{font-size:15px;font-weight:700;letter-spacing:-.02em;text-decoration:none}.site-header nav{display:flex;gap:24px}.site-header nav a{color:var(--muted);font-size:14px;text-decoration:none}.site-header nav a:hover{color:var(--text)}
.hero{padding:112px 0 92px}.eyebrow{margin:0 0 14px;color:var(--muted);font-size:14px;font-weight:650}.hero h1,.issue-hero h1{max-width:980px;margin:0;font-size:clamp(50px,8vw,92px);line-height:.98;letter-spacing:-.055em;font-weight:750}.hero-copy,.issue-deck{max-width:760px;margin:28px 0 0;color:var(--muted);font-size:clamp(19px,2.5vw,25px);line-height:1.42;letter-spacing:-.025em}.section{padding:48px 0 76px}.section-heading{margin-bottom:24px}.section-heading h2{max-width:800px;margin:0;font-size:clamp(34px,5vw,56px);line-height:1.04;letter-spacing:-.045em}.date{margin:0;color:var(--muted);font-size:14px}
.feature-card,.quiet-card,.company-card,.note-card,.source-card,.focus-card{background:var(--surface);border:1px solid var(--line);box-shadow:var(--shadow);backdrop-filter:blur(22px);-webkit-backdrop-filter:blur(22px)}.feature-card{display:grid;grid-template-columns:minmax(0,1.55fr) minmax(250px,.75fr);gap:32px;padding:clamp(28px,5vw,58px);border-radius:var(--radius-lg)}.tags{display:flex;flex-wrap:wrap;gap:8px;margin-bottom:24px}.tags span{padding:7px 11px;border-radius:999px;background:var(--accent-soft);color:var(--accent);font-size:12px;font-weight:700}.feature-card h2{max-width:750px;margin:0;font-size:clamp(34px,5vw,58px);line-height:1.03;letter-spacing:-.045em}.feature-card .feature-copy>p{max-width:650px;margin:22px 0 0;color:var(--muted);font-size:19px;line-height:1.5}.actions{display:flex;flex-wrap:wrap;gap:12px;margin-top:30px}.button{display:inline-flex;align-items:center;justify-content:center;min-height:46px;padding:0 20px;border-radius:999px;font-size:15px;font-weight:650;text-decoration:none;transition:transform .16s ease}.button:hover{transform:translateY(-1px)}.button.primary{background:var(--accent);color:white}.button.secondary{background:rgba(0,0,0,.055)}
.metric-panel{display:grid;align-content:center;gap:1px;overflow:hidden;border:1px solid var(--line);border-radius:var(--radius-md);background:var(--line)}.metric{min-height:112px;padding:22px;display:flex;flex-direction:column;justify-content:center;background:rgba(255,255,255,.64)}.metric strong{font-size:35px;line-height:1;letter-spacing:-.04em}.metric span{margin-top:8px;color:var(--muted);font-size:13px}.card-grid{display:grid;grid-template-columns:repeat(3,1fr);gap:18px}.quiet-card{min-height:240px;padding:30px;border-radius:var(--radius-md)}.card-number{margin:0 0 50px;color:var(--muted);font-size:13px}.quiet-card h3{margin:0 0 10px;font-size:28px;letter-spacing:-.035em}.quiet-card p:last-child{margin:0;color:var(--muted);font-size:16px}.archive-row{display:grid;grid-template-columns:100px minmax(0,1fr) 24px;gap:18px;align-items:center;padding:24px 0;border-top:1px solid var(--line);text-decoration:none}.archive-row:last-child{border-bottom:1px solid var(--line)}.archive-date,.archive-arrow{color:var(--muted);font-size:14px}.archive-title{font-size:18px;font-weight:600;letter-spacing:-.02em}.site-footer{padding:40px 0 64px;border-top:1px solid var(--line);color:var(--muted);font-size:13px}
.issue-hero{padding:84px 0 56px}.issue-hero h1{font-size:clamp(46px,7vw,78px)}.meta-strip{display:grid;grid-template-columns:repeat(4,1fr);margin-top:42px;border-top:1px solid var(--line);border-bottom:1px solid var(--line)}.meta-item{padding:20px 18px 20px 0}.meta-item+.meta-item{padding-left:18px;border-left:1px solid var(--line)}.meta-item span{display:block;color:var(--muted);font-size:12px}.meta-item strong{display:block;margin-top:4px;font-size:15px}.reading-layout{display:grid;grid-template-columns:minmax(0,1fr) 270px;gap:54px;padding-bottom:90px}.reading-main section{padding:36px 0 52px;border-top:1px solid var(--line)}.reading-main h2{max-width:28ch;margin:0 0 22px;font-size:36px;line-height:1.1;letter-spacing:-.04em}.reading-main h3{margin:28px 0 10px;font-size:22px;letter-spacing:-.025em}.reading-main>section>p:not(.eyebrow),.reading-main li,.company-card .company-copy,.takeaway{font-family:var(--book);font-size:18.5px;line-height:1.78;text-wrap:pretty}.reading-main>section>p:not(.eyebrow){max-width:68ch;margin:0 0 18px}html[data-reading-font="sans"] .reading-main>section>p:not(.eyebrow),html[data-reading-font="sans"] .reading-main li,html[data-reading-font="sans"] .company-card .company-copy,html[data-reading-font="sans"] .takeaway{font-family:var(--sans);font-size:18px;line-height:1.72}.reading-main ol,.reading-main ul{padding-left:24px}
.company-index{display:grid;grid-template-columns:repeat(2,1fr);gap:12px}.company-index a{display:flex;align-items:center;justify-content:space-between;padding:16px 18px;border:1px solid var(--line);border-radius:16px;background:var(--surface-solid);text-decoration:none}.company-index small{color:var(--muted)}.company-card{padding:clamp(24px,4vw,36px);border-radius:var(--radius-md)}.company-top{display:flex;align-items:flex-start;justify-content:space-between;gap:20px}.company-name{margin:0;font-size:31px;letter-spacing:-.04em}.ticker{margin-top:6px;color:var(--muted);font-size:14px}.business-model{padding:8px 11px;border-radius:999px;background:var(--accent-soft);color:var(--accent);font-size:12px;font-weight:700;white-space:nowrap}.company-copy{margin:24px 0 0;color:var(--text)}.kpi-grid{display:grid;grid-template-columns:repeat(4,1fr);gap:1px;margin-top:26px;overflow:hidden;border:1px solid var(--line);border-radius:18px;background:var(--line)}.kpi{padding:17px;background:var(--surface-solid)}.kpi span{display:block;color:var(--muted);font-size:11px}.kpi strong{display:block;margin-top:5px;font-size:20px;letter-spacing:-.03em}.kpi .up{color:var(--positive)}.kpi .down{color:var(--negative)}.duo{display:grid;grid-template-columns:1fr 1fr;gap:16px;margin-top:22px}.mini-panel{padding:20px;border:1px solid var(--line);border-radius:18px;background:rgba(255,255,255,.44)}.mini-panel h4{margin:0 0 9px;font-size:13px}.mini-panel p{margin:0!important;font-family:var(--sans)!important;font-size:14px!important;line-height:1.55!important;color:var(--muted)}.takeaway{margin-top:22px;padding:22px 24px;border-radius:18px;background:#1d1d1f;color:#f5f5f7}.takeaway small{display:block;margin-bottom:8px;font-family:var(--sans);font-size:11px;color:#a1a1a6;font-weight:700}.takeaway strong{font-weight:650}.machine-list{display:grid;gap:1px;overflow:hidden;border:1px solid var(--line);border-radius:20px;background:var(--line)}.machine-row{display:grid;grid-template-columns:150px 1fr;padding:16px 18px;background:var(--surface-solid)}.machine-row strong{font-size:14px}.machine-row span{color:var(--muted);font-size:14px}.focus-grid{display:grid;grid-template-columns:repeat(3,1fr);gap:14px}.focus-card{padding:24px;border-radius:20px}.focus-card small{color:var(--muted)}.focus-card h3{margin:10px 0 8px;font-size:24px}.focus-card p{margin:0!important;font-family:var(--sans)!important;font-size:14px!important;line-height:1.55!important;color:var(--muted)}.reading-aside{position:relative}.aside-inner{position:sticky;top:24px;padding-top:36px}.aside-title{margin:0 0 12px;color:var(--muted);font-size:12px;font-weight:700}.aside-inner a{display:block;padding:8px 0;color:var(--muted);font-size:13px;text-decoration:none}.aside-inner a:hover{color:var(--text)}.note-card{padding:24px;border-radius:20px}.note-card p{margin:0!important;font-family:var(--sans)!important;font-size:14px!important;line-height:1.6!important;color:var(--muted)}.reader-font-toggle{position:fixed;right:18px;bottom:18px;z-index:100;display:inline-flex;align-items:center;gap:9px;min-height:46px;padding:0 15px;border:1px solid var(--line);border-radius:999px;background:var(--surface-solid);color:var(--text);box-shadow:0 12px 36px rgba(0,0,0,.12);cursor:pointer}.reader-font-toggle>span{font-family:Georgia,serif;font-size:19px;font-weight:700}.reader-font-toggle>small{color:var(--muted);font-size:12px;font-weight:650}
@media(max-width:820px){.hero{padding:78px 0 60px}.feature-card,.reading-layout{grid-template-columns:1fr}.card-grid,.focus-grid{grid-template-columns:1fr}.meta-strip{grid-template-columns:repeat(2,1fr)}.meta-item:nth-child(3){border-left:0;border-top:1px solid var(--line)}.meta-item:nth-child(4){border-top:1px solid var(--line)}.reading-aside{display:none}.kpi-grid{grid-template-columns:repeat(2,1fr)}}
@media(max-width:560px){.site-header nav{gap:14px}.hero h1,.issue-hero h1{font-size:48px}.feature-card{padding:26px;border-radius:24px}.feature-card h2{font-size:36px}.archive-row{grid-template-columns:72px minmax(0,1fr) 18px;gap:10px}.meta-strip{grid-template-columns:1fr}.meta-item+.meta-item,.meta-item:nth-child(3),.meta-item:nth-child(4){padding-left:0;border-left:0;border-top:1px solid var(--line)}.company-index,.duo{grid-template-columns:1fr}.company-top{display:block}.business-model{display:inline-block;margin-top:14px}.machine-row{grid-template-columns:1fr;gap:4px}.reader-font-toggle{right:12px;bottom:12px;min-height:42px}}
@media(prefers-color-scheme:dark){:root{--bg:#000;--surface:rgba(28,28,30,.76);--surface-solid:#1c1c1e;--text:#f5f5f7;--muted:#a1a1a6;--line:rgba(255,255,255,.12);--shadow:0 24px 70px rgba(0,0,0,.35);--accent-soft:rgba(0,113,227,.18)}body{background:radial-gradient(circle at 18% 0%,rgba(40,40,44,.8),transparent 34rem),var(--bg)}.metric{background:rgba(28,28,30,.72)}.button.secondary{background:rgba(255,255,255,.1)}.mini-panel{background:rgba(28,28,30,.5)}}