feat(pitch-deck): add Risks & Mitigation slide (vorletzte Folie)

New slide with 6 risks and concrete mitigations:
1. AI Commoditization — Layer 2-6 moat, not Layer 1
2. US Platform Expansion — EU-only infrastructure, CLOUD Act barrier
3. Team/Key-Person Risk — Documentation, ESOP, early legal hire
4. Slow Customer Acquisition — Consulting revenue bridge, channel strategy
5. Regulatory Changes — Enlarges market, RAG indexes in days
6. Liquidity Risk — Organic growth, Pre-Seed BW option

Key quote: "We don't compete with AI. We compete with teams that
use AI better than we do."

Presenter script added for the risks slide.

Co-Authored-By: Claude Opus 4.6 (1M context) <noreply@anthropic.com>

pitch-deck/lib/presenter/presenter-script.ts

@@ -630,6 +630,29 @@ export const PRESENTER_SCRIPT: SlideScript[] = [
     ],
   },
 
+  // — risks (45s)
+  {
+    slideId: 'risks',
+    duration: 45,
+    paragraphs: [
+      {
+        text_de: 'Jetzt zu den Risiken — denn Transparenz ist uns wichtig. Wir haben sechs wesentliche Risiken identifiziert und für jedes eine konkrete Mitigation erarbeitet.',
+        text_en: 'Now to the risks — because transparency is important to us. We have identified six key risks and developed a concrete mitigation for each.',
+        pause_after: 2000,
+      },
+      {
+        text_de: 'Das größte Risiko ist die Commoditisierung durch KI. Unsere Antwort: Wir konkurrieren nicht auf der Ebene des KI-Wissens, sondern auf der Ebene der vertrauenswürdigen Infrastruktur. KI ist unser Multiplikator, nicht unser Produkt.',
+        text_en: 'The biggest risk is commoditization through AI. Our answer: we don\'t compete at the AI knowledge level, but at the trustworthy infrastructure level. AI is our multiplier, not our product.',
+        pause_after: 2500,
+      },
+      {
+        text_de: 'Der entscheidende Satz für Investoren: Wir konkurrieren nicht mit KI. Wir konkurrieren mit Teams, die KI besser einsetzen als wir. Deshalb bauen wir nicht das beste Sprachmodell — sondern die vertrauenswürdigste Compliance-Infrastruktur Europas.',
+        text_en: 'The key statement for investors: We don\'t compete with AI. We compete with teams that use AI better than we do. That\'s why we don\'t build the best language model — but the most trustworthy compliance infrastructure in Europe.',
+        pause_after: 2000,
+      },
+    ],
+  },
+
   // — legal-disclaimer (20s)
   {
     slideId: 'legal-disclaimer',

pitch-deck/lib/slide-order.ts

@@ -30,6 +30,7 @@ export const SLIDE_ORDER: SlideId[] = [
   'annex-strategy',
   'annex-finanzplan',
   'annex-glossary',
+  'risks',
   'legal-disclaimer',
 ]
 

pitch-deck/lib/types.ts

@@ -251,4 +251,5 @@ export type SlideId =
   | 'annex-strategy'
   | 'annex-finanzplan'
   | 'annex-glossary'
+  | 'risks'
   | 'legal-disclaimer'