Terms of use

Agreement and scope

These Terms govern access to and use of the Joule14 website, research, links to the Joule14 publication on Substack, early-access materials, Frontier Map, product concepts, customer accounts, links to Nick Dorsey's paid subscriber offering on X, briefings, data, and related communications. By using these materials, you agree to these Terms. If you act for an organization, you represent that you are authorized to accept these Terms for it.

General, impersonal research

All Joule14 research, products, data, briefings, and communications are general and impersonal. They are provided for informational and educational purposes and are not individualized investment, legal, accounting, or tax advice; an offer or solicitation; or a recommendation that any person buy, sell, hold, short, hedge, or otherwise transact in any security or financial instrument. Joule14 does not consider a user's holdings, objectives, risk limits, tax circumstances, or contemplated transactions. Nothing provided by Joule14 creates an adviser-client, fiduciary, brokerage, agency, or other professional relationship.

Submissions and communications

Do not send portfolio holdings, position sizes, watchlists, contemplated orders or trades, material nonpublic information, or confidential information belonging to you, an employer, or another person. Joule14 may decline, stop, or delete a communication that appears to contain such information. Sending an inquiry does not create a confidentiality or professional-services relationship.

Permitted use

Joule14 grants visitors a limited, revocable, nonexclusive, nontransferable right to use publicly available material for personal or internal business purposes. Republishing, resale, systematic extraction, model training, removal of attribution, circumvention of access controls, or distribution outside an authorized organization requires prior written permission unless a publication or signed agreement expressly provides otherwise.

Research record and accuracy

Research may contain estimates, scenarios, forecasts, and forward-looking judgments based on information available as of the stated date. Sources may be incomplete, delayed, or revised, and conclusions may change without notice. Joule14 does not guarantee that material is complete, current, accurate, or suitable for any particular purpose. Material corrections and substantive updates are handled under the Corrections policy.

Third-party material

The website may link to or describe material controlled by third parties. Those services have their own terms and privacy practices. A link or reference does not imply endorsement, and Joule14 is not responsible for the availability, accuracy, or practices of a third-party service. Consumer newsletter signup, delivery, and subscription management occur through Substack and are also governed by Substack's terms and privacy notice. Paid subscriber checkout, billing, renewal, cancellation, account access, and subscriber-content access on X are provided by X and governed by X's terms and privacy notice. The price and billing terms shown by X at checkout control the transaction on that platform.

X subscriber participation

Paid subscribers on X may be invited to propose questions, identify public evidence, and help shape selected group research projects. Subscriber input does not purchase coverage, a conclusion, a recommendation, a particular answer, publication on a particular schedule, or a confidential or individualized research service. Nick Dorsey and Joule14 retain editorial control over which questions to pursue and over the scope, sources, methods, conclusions, timing, and publication of all research. Participation does not create an adviser-client, fiduciary, consulting, agency, or confidential relationship.

Frontier Map accounts and subscriptions

Frontier Map access requires an authenticated Joule14 account and a current product entitlement. Keep sign-in links and sessions secure and notify Joule14 of suspected unauthorized use. The plan, price, billing interval, and renewal terms displayed at Checkout control the subscription. Stripe processes payment and provides the ordinary billing portal. A Checkout return page alone does not establish access; access follows verified subscription status and may end when the paid period, trial, grace period, or authorized pilot ends.

Frontier Map is licensed for the authorized account's personal or internal business use. An individual subscription may not be shared, resold, systematically extracted, used to recreate the dataset, or distributed as a substitute product. Product coverage, sources, conclusions, alert significance, and update cadence can change as the evidence changes. Alerts are a convenience and are not a guarantee that every paper, event, or commercially relevant development will be identified or delivered.

Product concepts and early access

Other product concepts may be presented to evaluate reader interest before they are complete. An early-access request or product-feedback submission creates no purchase, reservation, advisory, confidentiality, or service relationship and does not guarantee that a product will launch, include a requested feature, or be offered to the person submitting feedback. Descriptions, stages, coverage, timing, and availability may change. No paid access agreement changes the general and impersonal nature of Joule14 research.

Availability and enforcement

Joule14 may change, suspend, or discontinue website features, remove material, or restrict access when reasonably necessary to protect the research, other users, or the service. Unauthorized use may result in termination of access and other remedies available under applicable law.

Disclaimer of warranties

To the maximum extent permitted by law, the website and materials are provided “as is” and “as available,” without warranties of merchantability, fitness for a particular purpose, noninfringement, or uninterrupted availability. Users remain solely responsible for their own analysis, decisions, and compliance obligations.

Governing law and contact

These Terms are governed by Arizona law, without regard to its conflict-of-law principles. Questions may be sent to nick@joule14.com or PO Box 326, Flagstaff, AZ 86002.