$MRLN: I built Merlin World
A life-size virtual hangar of the entire Merlin fleet. Walk it, fly it, read every filing. Open now on a free trial.
For 2 months I have published the Merlin Labs thesis in pieces. Filings, flight logs, a 182-day ADS-B reconstruction, a wall of charts. You read it. You could not stand in it.
Now you can.
Today I am releasing MERLIN WORLD, a life-size virtual hangar that puts the entire Merlin Labs campaign in one room at true scale. You sign in, you spawn on the floor, and the fleet is standing in front of you. The C-130J wing runs forty meters over your head. You walk up to it. You read its dossier off the pedestal. Every number on that pedestal is sourced.
This is the same OSINT that powers the Merlin Intelligence terminal. I turned it into a place.
ACCESS IT AT https://shawarmacapital.net
I. The fleet, at true scale
Walk the main aisle and the tails sit exactly where the data puts them. Real aircraft, real dimensions, life-size.
N208B, Big Red. The U.S. certification workhorse. It flew the first fully automated U.S. takeoff on April 11, 2026, and it is the most-flown tail in the campaign.
ZK-MLO, Kerikeri. New Zealand's lead certification tail, flying near-daily. New Zealand is the guided site for Merlin's first autonomous revenue service, targeted for 2027.
N831DL, the jet. An Aero L-39C Albatros, registered May 21. The long-horizon bet, pushing Merlin Pilot toward tactical speeds. The ADS-B tripwire on it is armed.
C-130J, Condor. The flagship. A USSOCOM ceiling north of $100M, Critical Design Review completed June 4, 2026, now entering aircraft integration.
You do not read about these airframes. You stand under them.
II. You can fly them
Every aircraft in the hall is flyable. Climb in and you get a real flight model over real terrain. Take the Caravan off the testbed strip. Push the L-39 toward the speeds the program is chasing. Fly the C-130J. The simulator is the fleet you just walked, in the air.
III. It is live and it is multiplayer
You are not alone in there. Up to 48 subscribers can be on the floor at the same time, in real time, each one a callsign moving through the hangar. You claim your callsign once and it is yours. A leaderboard tracks the people who log the most time on the floor. The live chat runs alongside it, so the room talks while it walks.
The research stopped being a document. It became a room with people in it.
IV. The intelligence is in the walls
Merlin World sits on top of Merlin Intelligence, the OSINT desk behind the coverage.
The orbital globe at the head of the fleet carries every Merlin operating location and route tracked by ADS-B. Two continents flying one certification stack.
The master control console is a walk-up nerve center. A live 2D fleet map, a rolling 24-hour flight log, and the full intel browser, without leaving the floor.
Upstairs, the galleries hold every chart from the research desk. Price action. The runway simulation. The sortie ramp. The cap table. The catalyst clock. The whole model on the walls, where you stand in front of it.
V. Access
Until today, all of this was for paying subscribers only.
Starting now, a free trial gets you in. Start a trial, sign in at shawarmacapital.net with the same email as your Substack subscription, and a six-digit code lets you through the hangar door. You get the whole thing. The hangar, the flight deck, the live floor, the dashboard, the chat.
Here is the honest part. When the trial ends, if you have not converted to a paid or founding subscription, access closes. The door locks behind you. The system enforces it cleanly. I would rather say that up front than surprise you.
Founding members get the same access plus the standard founding benefits.
VI. Bottom line
The entire Merlin Labs campaign is sitting in plain sight, scattered across ADS-B archives, SEC EDGAR, GlobeNewswire, FAA registries, ATS boards. Nobody was assembling it. I assembled it, and then I built you a place to walk through it.
Take the trial. Walk the fleet. Fly the C-130J. Read every filing. Then decide.
$MRLN
I am long the names disclosed at the top of this post. This is research synthesis, not investment advice. You should not buy or sell securities based on anything I write. I am not a registered investment advisor. I do not owe you a fiduciary duty. My conclusions could be wrong in ways I have not anticipated. Financial projections are model outputs based on publicly available data. They are not guarantees. Microcaps are illiquid and can lose 50% or more in a single session. Do your own due diligence. Verify every number against primary sources.
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$MRLN Part 3: The DAWG, the $54.6B, and Why Merlin Is Positioned to Win the