Fin Nest — Beta Testing Terms

Version 2026-10-06

These Beta Testing Terms add to the Terms of Service for people invited to try Fin Nest before it is a finished product. If the two conflict during the beta, these Beta Testing Terms control.

Fin Nest's beta is unpaid and invitation-only. It is not a finished product, not for sale, and carries no ongoing commitment on either side.

What this is

Fin Nest is an early, in-development tool that uses SEC filings and market data to draft comparable-company valuation memos, stock write-ups, capital-budgeting analyses and real-estate underwriting. You are being given access to try it out and give feedback before it becomes a finished, paid product.

What this is not

• Not investment advice. Every output says so, and it is true. Nothing Fin Nest produces should be the basis for an actual investment decision. Treat every number as a draft to verify against the source filing, not a conclusion to act on.
• Not a registered investment adviser's work product. Fin Nest is not currently operating as, or registered as, an investment adviser. That status is under review and may change. Nothing produced during the beta is offered for compensation or as professional investment advice.
• Not the finished product. Methodology, output format, accuracy and features are still changing, sometimes significantly, without notice. A memo you get today may look and read differently next week.
• Not reviewed by a person before you see it. Outputs have not been through a formal accuracy review. Assume errors are possible. Data-source mismatches, stale figures and calculation edge cases are exactly what this testing period exists to find.

What you agree to

1. No charge. You will not be billed during the beta. Fin Nest is provided free, with no obligation on either side to continue it and no promise that it will stay free if a paid product launches.
2. Credit is an allowance, not money. Any credit we give you for the test has no cash value, cannot be transferred or refunded, and may be changed or reset.
3. No warranty. Fin Nest is provided "as is", with no guarantee of accuracy, availability or fitness for any purpose. Do not rely on it for a decision where being wrong would cost you money or worse.
4. Feedback helps, but is not required. If something looks wrong, tell us. That is most of the point of this phase. If you give feedback, we may use it freely to improve Fin Nest.
5. Either side can stop, at any time. We can end your access, and you can stop using Fin Nest, at any point and for any reason, with no notice required.
6. Keep what you see confidential. Please do not screenshot, forward or otherwise share memo output outside your own use without checking with us first. Some of it reflects methodology we have not finalized or made public.
7. Your own research. You use Fin Nest for your own research and are responsible for any decision you make. Please do not pass its output to other people as advice.

AI is used to write the analysis

The numbers in a memo are calculated by software. The explanation around them is written by an AI model (Anthropic's Claude), which chooses which calculations to run. It can make mistakes, misdescribe a result or leave something out. Please read every memo with that in mind.

Data you provide

If you give Fin Nest information about your own portfolio or fund positions to test the exposure features, that data is used only to produce your own memos and is not shared with anyone else testing the product.

Your conversations are saved

Your chat history is stored on our servers so it is still there when you come back, reload the page or use another device. The people running this test can access it, and may read it to answer your questions, fix problems and check the quality of outputs.

Your messages are processed by our service providers to run the product: Anthropic (the AI model that writes the responses) and Google Cloud and Firebase (hosting, sign-in and storage). Market-data providers receive the stock ticker symbols needed to look up prices, not your messages.

The "New conversation" button deletes your saved conversation from the chat. We also keep a separate usage record (when you used Fin Nest, how much, and what it cost us) that is not deleted when you clear a conversation. To ask us to delete your account information, contact us; we may need to keep some records.

Do not put anything in the chat that you are not comfortable with us and those providers handling. In particular, no passwords, account numbers, or other people's personal information.

How your agreement is recorded

When you click Accept in Fin Nest, we record that you accepted this version of the Terms of Service and these Beta Testing Terms, and the date and time. If we change either document in a way that matters, we will ask you to accept again before you continue.

Questions

Ask before you rely on anything, not after. Reply to the email that invited you, or write to the address that sent you your sign-in link.