Definition
PIPEDA
Canada's federal private sector privacy law.
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Related terms in Finance & Markets
P&L (Profit and Loss Statement)Profit and loss statement. The document CEOfriend's CFO agent reads before it tells you no.Patent pendingQalzy's status on its combined weighing and visual recognition method.PayerIndustry term for health insurance companies. Called payers because they hold the money and the leverage. The asymmetry between what patients tell payers versus what they'd tell a private AI is the trust gap Savva is built to close.Perceived Complexity ArbitrageThe gap between how complex consumers believe their tax (or legal, medical, financial) situation to be and how complex it actually is. CPAs have historically exploited this gap to justify high fees, slow service, and captive client relationships — not maliciously, but structurally. AI that collapses perceived complexity by showing people what their situation actually requires can disrupt incumbents without needing to outcompete them technically.Prediction MarketA real-money market where participants trade contracts on the outcomes of future events. The price of a contract represents the market's aggregated probability estimate for that outcome occurring. LightningRod used Polymarket - the largest prediction market - as a live benchmark: train a model on public news using the chronological prediction method, have it place real bets, measure profit and calibration against GPT-4, Claude, Gemini, and other frontier models. The small LightningRod model won. Ben Turtle has mixed feelings about prediction markets broadly: they create strong incentives to surface private information into prices, but they also lower the barrier to problem gambling.Present Cash ValueA financial concept describing the current worth of a future sum of money, discounted for time and risk.Prevailing WageA government-compiled benchmark of wages paid by occupation and county, derived from surveys across the country. On qualifying federal and state construction projects, contractors must pay workers at or above the prevailing wage for that occupation and location. Often cited as protective for workers, but frequently lower in practice than what competitive private employers already pay — a fact that exposes how the survey methodology (often drawing from union-reported wages) shapes the baseline.Prior ArtAny publicly available evidence that an invention was already known before the filing date of a patent application — including prior patents, academic papers, product documentation, published code, or public demonstrations. The existence of prior art that fully covers an invention will result in patent rejection. SenseIP's AI agent Leo surfaces prior art during the idea validation phase and uses it constructively: showing founders exactly which element of their idea overlaps with existing patents, and prompting them to identify what makes their approach genuinely different or novel. Prior art search is the intelligence layer of the patent process.