The latest results show major progress on outcomes—and a growing tension between near-term investment and future impact as PY26 changes reshape incentives
![Signals From [Space]](https://substackcdn.com/image/fetch/w_80,h_80,c_fill,f_webp,q_auto:good,fl_progressive:steep,g_auto/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F55686857-6b99-45a6-ac0f-09c9f023f2a0_500x500.png)
![Signals From [Space]](https://substackcdn.com/image/fetch/e_trim:10:white/e_trim:10:transparent/h_72,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F4d588ac1-7fac-4bd4-829d-fc7b4e8f1326_1512x288.png)
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Signals Brief: Spend Now to Save Later? What…
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The latest results show major progress on outcomes—and a growing tension between near-term investment and future impact as PY26 changes reshape incentives