To run this task you must have the following required information:

> Industry or sector to research

If you don't have all of this information, exit here and respond asking for any extra information you require, and instructions to run this task again with ALL required information.

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You MUST use a todo list to complete these steps in order. Never move on to one step if you haven't completed the previous step. If you have multiple read steps in a row, read them all at once (in parallel).

Add all steps to your todo list now and begin executing.

## Steps

1. [Read Executive Research Guide]: Read the documentation in: `./skills/sauna/[skill_id]/references/executive.research.guide.md` (Get the investor trends briefing output format)

2. Gather context from the user:
- What industry or sector?
- What stage companies are you benchmarking against?
- Is this for an investor update, fundraising prep, or strategic planning?

Check `./documents/executive-context.json` for existing context.


3. Use `./skills/sauna/[skill_id]/references/skill/research.exa.lookup` to research investor trends:

Search queries to run:
1. "[industry] funding trends 2024 2025"
2. "[industry] venture capital deals valuation"
3. "[industry] series [A/B/C] round size benchmark"
4. "[industry] startup exits acquisitions IPO"
5. "[industry] investor sentiment risk appetite"

Look for: VC firm reports, Pitchbook/CB Insights data, funding announcements.


4. Synthesize findings into the Investor Trends Briefing format:

1. Funding landscape with recent activity
2. Funding by stage with notable rounds
3. Valuation benchmarks with multiples
4. Risk sentiment analysis
5. Notable exits

Include sources for all data points.
Note confidence level based on data quality.


5. Provide key takeaways tailored to their use case:
- For investor updates: Positioning relative to market
- For fundraising: Timing and valuation expectations
- For planning: Market trajectory implications

Offer to save findings to `./documents/executive-research-index.json`.